Connect with us

Success Advice

8 Traps to Avoid When Making Fact Based Decisions

Published

on

Image Credit: Unsplash

Many people pride themselves in trusting their gut when it comes to decision making. You may have heard that successful leaders have excellent gut instincts. Don’t be misled by this broad statement. The gut, regardless of how skilled it may be, can trap the best of us into a cycle of poor decisions.

There’s a fact-based approach to making decisions that’s been proven to work by the science of quality management. For over a century, global industry giants have relied on this science to drive outcomes. It tells us that the probability of achieving a desired long-term outcome dramatically increases when you embrace and apply it to your decisions. The approach has been studied, tried, and tested. Based on industry experience, global leaders recognize and watch out for known traps that can easily derail decision making at every level.

The same traps can derail your focus on making fact-based decisions.  Here’s what to watch for as you strive to make fact-based decisions:

Trap 1: The Feelgood Faker

Many people are driven by emotions when it comes to decision making. The urge to move toward things that make us feel good and avoid things that make us feel bad is part of being human.  Be open and willing to allow discomfort when making decisions. Sometimes the best decisions will require you to change, move, give up something, work harder than you expected, delay gratification, etc.

Trap 2:  The Time Trickster

A sense of urgency, as well as procrastination, can trap us into making emotionally driven decisions. Quick decisions are more likely to be gut related. Recognize that the quickest, easiest solution is not always the best. Take a deep breath and follow the process while also not procrastinating. Don’t delay unnecessarily. The farther away from an incident, or opportunity for decision making, the tougher it is to identify and understand the facts. 

Trap 3: The Blind Corner Smash

Understand the difference between objective and subjective information when preparing to make a fact-based decision.  Objective information is factual. You cannot change it even if you would like to. It is what it is. Subjective information is driven by individuals. In other words, it’s made up of opinions, emotions, wishes, dreams, preferences, and such. You own your subjective information, and it can be anything you want it to be. The trick is understanding that you don’t own anyone else’s.

“You cannot make progress without making decisions.” – Jim Rohn

Trap 4: The Power Sucker

Once you clearly recognize the objective facts at play, and the subjective elements within your power to change, you can activate that power through decision-making. Decisions based on subjective information that you cannot control can quickly or slowly suck away your incredible power to create the outcome you envision.

Trap 5: The Blind Spot Blinder

Blind spots are tough to see. They can leave us wondering why our “excellent decision” turned out to be the opposite. Proactively seek to identify potential blind spots when making decisions — this often calls for courage, humility, and a growth mindset.

Trap 6: The Widespread Net Debacle

We all want and need to discuss big decisions with others. But carefully consider who is giving you advice, including their unique and subjective perspective. Great leaders accept responsibility for decision making, and therefore are purposeful when seeking input and advice.

Trap 7: The Root Cause Wrecker

Misunderstanding the root cause, or reason, why a decision must be made can wreck your thought process. Take the time to ensure that the decision/options you’re considering will address the root cause involved.

Trap 8: The Horizon Blocker

When making decisions, be careful not to overfocus on the immediate future. Look to the horizon, consider what you’re building, and keep your eye there.  Despite what you may have heard, your life is not a process but rather a product that you can build to meet your authentic specifications. The science of quality management provides concepts and approaches proven to work.  You can be as specific or as general as you wish, but committing and focusing on an outcome that has meaning to you is critical, and should always be top of mind when making decisions.

Gut reactions and emotions certainly play an integral role in decision making. Hopefully, our gut doesn’t let us down when it comes to our immediate personal safety or other scenarios that leave us with nothing to rely on but our instincts. However, don’t let your gut fool you, or get trapped by blindly believing that your instincts are always right. If guts were right every time, the world would be a different place.

Penelope Przekop is a corporate quality management expert, entrepreneur, and writer. Throughout her 30+-year career, she has worked with numerous Fortune 100 pharma companies, including Pfizer, Merck, Lilly, and Glaxo Smith Kline, and held leadership positions at Novartis, Covance, Wyeth, and Johnson & Johnson. She is the founder and CEO of PDC Pharma Strategy and serves as the Chief Compliance Officer for Engrail Therapeutics. She is the author of Six Sigma for Business Excellence (McGraw-Hill) and four novels: Please Love MeAberrationsCenterpieces, and Dust. Przekop earned a BS in Biology from Louisiana State University and an MS in Quality Systems Engineering from Kennesaw State University. She is a graduate of the Smith College Program for Women’s Leadership and the Rutgers University Senior Leadership Program for Professional Women. In 2018, Przekop and her older daughter founded Bra in a Box, which has been featured in Real Simple and New York Magazine. She lives in the Greater Philadelphia Area with her husband of 30 years. Her new book is Five Star Career: Define and Build Yours Using the Science of Quality Management. Learn more at penelopeprzekop.com and www.pdcstrategy.com.

Advertisement
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Success Advice

Copyright Tips Every Small Business Owner Needs to Know

Understand what can be copyrighted, how to use the copyright symbol, and steps to ensure your intellectual property is safeguarded.

Published

on

Copyright laws
Image Credit: Midjourney

The concept of copyrighting exists to protect the original work that a person or business has created. As a small business owner, understanding copyright law is essential, as you strive to safeguard your material and ensure you don’t incorrectly use material that belongs to someone else. (more…)

Continue Reading

Success Advice

How to Optimize Your Pop Up Form to Maximize Conversions

Proper use of the pop-up ad in direct interaction with your audience is an indispensable tool for your company

Published

on

ad pop up conversions
Image Credit: Midjourney

Tracking and improving your conversion rates is an excellent way to boost your business strategy, leading to a significant increase in the ROI indexes. With a proper approach and the correct marketing tools, your business can turn each of your visitors into a potential lead that will bring profit to your platform. (more…)

Continue Reading

Success Advice

How to Master Leadership for Long Lasting Impact

Embracing sustainability is key to business success and society’s well-being

Published

on

sustainability in business
Image Credit: Midjourney

Today, successful leadership must embrace sustainability in both words and actions. It is crucial for the leader himself, the company as well as for society in general. (more…)

Continue Reading

Success Advice

How to Turn Property into Profit and Build Wealth

The top 10% of households in terms of net worth deriving a significant portion of their wealth from property.

Published

on

real estate investing
Image Credit: Midjourney

Real estate investing can be a powerful path to building long-term wealth. It offers the potential for appreciation, rental income, and significant tax benefits. (more…)

Continue Reading

Trending