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How to Quickly Make a Business Decision & Avoid Overthinking

October 21, 2021

In the fast-pace moving world of digital marketing and owning a business in this age, as small business owners we handle a LOT! On any given day you’re probably making a TON of decisions both for your business and for your personal life as well!

I’m not sure about you but I often find myself exhausted at the end of the day and not really in the mood to figure out what to make for dinner – which is where meal planning totally saves my butt! Putting in the upfront time and mental effort to make decisions can make a huge difference in the amount of energy you have to actually EXECUTE on your tasks!

According to Medical News Today decision fatigue is explained as “the idea that after making many decisions, a person’s ability to make additional decisions becomes worse. The psychological effects of decision fatigue can vary, potentially leading to difficulty making the right decisions, impulse buying, or other avoidance behaviors”

So how can we quickly make business decisions that benefit us now and in the future and avoid overthinking in the process?

Although we often find ourselves THINKING we want a lot of options and choices to choose from, this is actually overwhelming and saps our happiness while making a decision. This is called the Paradox of Choice based on Barry Schwartz’s research.

I learned from Schwartz’s research that having a lot of choices is actually detrimental rather than making things easier psychologically. We actually LIKE having fewer options to choose from. And if you can’t get your head behind that think about how you feel while looking at a Cheesecake Factory Menu that’s like several pages long with 10-12 options on each page!!

The gist of what Schwartz’s research famously shows is that having a lot of choices is a curse on our happiness. Schwartz divides the world into people who, in the face of their many choices, maximize and those who “satisfice,” or accept the first available option that meets their criteria.

“Maximizing is a form of perfectionism; we maximize by searching out all the best possible options when making a decision, hoping to make the “perfect” choice. We satisfice when we choose something based on preset criteria and move on.

Satisficing doesn’t mean settling for something less than we really want; it is just a different way to go about making a decision. Happy people have different decision-making processes than do unhappy people: Happy people tend to satisfice.

Maximizing is very tempting for perfectionists, and it is associated with unhappiness and discontent.”

Here are a few ideas on how to Satisfice when it comes to making a decision!

1. Outline your criteria for success

What would make being done GOOD ENOUGH? What are things that you can’t live without? Make sure you have some standards or expectations in place before you go to make a decision!

2. Choose the first option that fits your standard for success

3. Focus on the POSITIVE aspects of your choice!

People who tend to go back and question whether or not they made the right choice or not end up unhappier than those who move forward with their decision. Running through more “what if” scenarios isn’t doing you or your happiness any favor!

I’ve love to hear how this helps you with your next big business decision! As always, be sure to reach out and ask any questions you have on Instagram @manalisontakke or just say HI! I love connecting with creatives over there 🙂

READY FOR SUPPORT AS YOU TAKE YOUR BUSINESS TO THE NEXT LEVEL?

Check out the Elevate Mastermind! It’s the perfect program if you’re looking to elevate your mindset & get next-level support to achieve your business dreams for 2022 and beyond!

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