We make thousands of decisions every day.
“What should I wear today?”
“How much should I charge for this service?”
“Should I keep this client?”
And then the one I love to hate: “What’s for dinner?”
Decision fatigue is real, and it impedes our ability to continue to make sound decisions. In fact, by the time the average person goes to bed, they have made over 35,000 decisions that day. And that happens Every. Single. Day.
If you’ve ever answered “I don’t care” when your significant other asks you what you want to watch on Netflix AND MEANT IT, that’s decision fatigue at work.
Having a process for making the big decisions we face daily ensures we make sound choices where it really matters. (And it also saves us from watching Top Gear for the fifth night in a row.)
Four resources to help you make better decisions
We’ve created four resources to help you make better decisions when the going gets tough.
- The Business Crisis Trend. There’s nothing easy about going through a crisis. The Business Crisis Trend resource is a great reminder that every crisis follows a trend. Knowing this pattern exists and being able to identify where you are in the trend helps you see your way through it. When you can identify you are in Shock and Desperation (where inaction or wrong actions happen), you can more easily move toward Evaluation and then on to Deliberate Action.
The Survival Trap. You can move in many different directions in a crisis. That is the Survival Trap. But there is always one action that will move you in the right direction. Remember the song “Do the Next Right Thing” from the Frozen 2 soundtrack? That’s what you want to do when you’re in crisis.
How do you know which thing is the right thing? It’s the action that will move you toward your vital need and your ultimate business goal. This isn’t always the easiest thing to do but doing it will save yourself and your business time and money in the long run.
Still not sure where to start? Skip ahead to #4 on our list.
The 10-10-10 Method. Have you ever wished you could just flip a coin and be done with the decision-making process? Coin flips are no way to run a business (or your life, for that matter) but the 10-10-10 Method is the next best thing.
Whenever you are faced with a decision you are unsure about, ask yourself how you will feel in the next 10 minutes if you take a particular action. Then ask how you will feel in the next 10 months. How about 10 years from now? Now ask yourself how you will feel if you don’t take that action.
The 10-10-10 Method helps you see both sides of the decision. It also helps you overcome resistance due to short-term discomfort when you realize the long-term benefits of the action.
- 1-Step Back Method. Every end goal is made up of multiple little pieces. Start with the end goal or your final offer in mind, and then ask what the first step back from that goal or offer is. Then step it back again. Continue until you get to the first step you need to take to move toward your goal. Not only will you know what to do right away – you’ll also have a complete roadmap of steps to get you to your goal.
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Of course we want you to use these tools the next time you are faced with a difficult decision. But we also want you to use them to help your clients navigate their difficult decisions. This is client advisory services amplified – never again will your clients see you as “just another financial professional.”
There is so much more to Profit First Professionals membership than just certification in the Profit First method. These decision-making steps are an example of the sort of coaching we provide to our members as they transform their practices into profitable advisory service firms. To learn more about the many benefits of membership, apply here.