Successful Decision Making
“Decision is the spark that ignites action. Until a decision is made, nothing happens…Decision is the courageous facing of issues, knowing that if they are not faced, problems will remain forever unanswered” — Wilferd Peterson
Decisiveness is a key ingredient for success in any area of life; it could be in business, sports, relationships or accumulating wealth. Learning how to make a decision and stick with it is critical to progress and growth.
But it’s natural to put things off when presented with tough decisions. Ignoring problems is easier than addressing them. The hope is they will simply resolve on their own. This lack of action results in wasted time and wealth. Therefore, success is largely up to the individual and their willpower to succeed.
“Your ability to succeed is in direct proportion to your ability to solve your problems. The better you are at solving problems, the more successful you become. This is not a new discovery. In the classic book Think & Grow Rich, Napoleon Hill cited a study that analyzed 25,000 people who had experienced failure. Lack of decision, or procrastination, was one of their major causes of failure. In contrast, analysis of several hundred millionaires revealed that every one of them had the habit of reaching decisions promptly and changing them slowly” — Gino Wickman in ‘Traction’
Nonetheless, there are still people who want to take action but are ineffective at efficient problem solving. Why is this? How is it some people make amazing progress in growing and accumulating wealth while others are stuck on the hamster wheel?
Most people stop at the surface level when identifying goals, problems, and priorities (GPP). The underlying solution in most GPP’s is the one rarely addressed. Typically, real issues are layers deep. Identifying a true GPP can be the most difficult part to progress.
Maybe someone has the priority to retire early. A closer examination reveals they don’t actually desire retirement but rather fulfillment. They they feel trapped at their job so they instinctively believe retirement is the solution. Instead of retiring early, a simple job change to a passion may be a better fit.
Many people want to have peace of mind when it comes to their investments. A deeper dive reveals portfolio performance is a bragging piece used with neighbors and family. For better performance, they buy ‘hot’ stocks read about in the papers or seen on TV. When the markets dip they panic, maybe sell, and have trouble sleeping. The goal of building wealth is disguised by the desire to be better than the neighbor.
Those who correctly and effectively take action are the ones who succeed. It requires intentionality, decisiveness, and digging deep. If you’ve never invested before, start small. If you’re struggling with debt, start with the smallest loan. If you feel uneasy about the financial decisions you’re making, meet with a qualified financial advisor. If you feel like you’re not making progress, maybe you’re not addressing the correct GPP.
Success belongs to those who seize opportunities and take action!
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