The Decision Maker

Sometimes we have to decide which path we are going to choose. Of course we want to make the right decision using all the information we have available at the time.

I have read many good business books. If there is anything of any value worth sharing on this web site, it's this tool that helps to take the guess work out of the decision making prospect.

In Seymour Schulich's book, Get Smarter, Life and Business Lessons, this Canadian billionaire and philanthropist created this simple tool to help him and his team  make better decisions.

If it worked for a billionaire as he built his business, I thought it could help me. I have used this simple formula on many occasions. It seems to take the "rolling of the dice" out of the equation every time.
Here's how it works.

1. Make a list of any and all of the positive aspects regarding the situation, opportunity or possibility you are facing.
2. Give each positive item on your list a number from 0 to 10 with 1 being the least important factor and 10 being the most important. It's possible to have more than one item with the same number of importance.
3. Make a list of all the negative elements that are part of the decision you need to make.
4. Now, number them from 0 to 10 but this time it is the reverse where 10 is the most negative and 1 is just a minor drawback
5. Add up the positive total.
6. Add up the negative total.
7. If the positive total doesn't at least double the negative total, don't go ahead, take a different path.

When faced with making decisions we tend to complicate things. This "tool for a lifetime", as described by the author helps to keep the process simple. It has worked for me. If it works for a billionaire it should be helpful to anyone.

Here is a link to the chapter in the book about the Decision Maker
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