Transcripts

Jeffrey Makoff, author of the bookGet Off The Fence! ...

The basic question that I would ask, is first of all, am I focused on the right decision or am I focused on the decision that's comfortable? Second of all, I'd want to make sure that I was ready to make the decision. Third, I'd want to know that I had the correct information, and if there's some other piece of information that can make this tough decision a lot easier, I want to go out and get it. I also want to be sure that I'm thinking in the long term. A lot of times we make decisions for short-term reasons but it's not best for us in the long-term. So you want to ask yourself, are you making this decision in your long term best interest? And finally have you done everything possible to reduce the risks of the decisions, which are in your control?

And when you're faced with a big decision, Jeffrey says it's very important to understand that….

There's a difference between a good decision and a good outcome. It's very important to make decisions in a good way; with a process with which you feel comfortable and maximize the chances the outcome is going to be good. But sometimes the outcome doesn't turn out well, and in those situations if you want to minimize regret, it's absolutely critical to make sure you can at least look back and say "I made the best decision I could at the time."

For transcripts visit our website somethingyoushouldknow.net. I'm Mike Carruthers and that's Something You Should Know.