Three Steps to Improve Your Decision-Making

Fear of future regret, hold us back and makes us afraid from making some certain choices in our life. However, there are many ways to overcome this feeling by improve your decision-making skills. To make a good decision you should have good sense of prediction and judgment. Here are three steps to develop your descision-makeing skills.

Avoid Overconfidence

Overconfidence is responsible for a lot of mistakes, you should be less certain about everything. Think about your choices and the outcome of each decision you make.

Learn some basic probability

Walter Frick, in an article in Harvard Business Review, said “Research has shown that even relatively basic training in probability makes people better forecasters and helps them avoid certain cognitive biases.If you’re not comfortable with probability, there’s no better investment to improve your decision making than spending even 30 minutes to an hour learning about it. You can start with Khan Academy’s introduction on coin flipping. Improving your ability to think probabilistically will help you with the first two rules. You’ll be able to better express your uncertainty and to numerically think about “How often does this usually happen?”

Avoid procrastination

Don’t delay a critical decision because it’s difficult. Make a decision but think about the consequences and advantages of your choices.
 
 
 
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