Making good decisions is crucial.

Whether you're a leader, manager, or planning your next career move, the ability to make good decisions can determine your success.

But what exactly makes a decision "good," and how can you ensure you're making the best choices? I'm exploring three tools that I use to help guide you on the path to better decision-making.

1. Decision Matrix

A decision matrix (or prioritisation matrix), is a tool that helps evaluate and prioritise a list of options. I create a table where I list my options as rows and the factors important to my decision as columns.

  1. List the options.
  2. Determine the criteria that matter.
  3. Define the weighting of each criteria.
  4. Score each option against each criterion.

Then, sum the scores for each option. The option with the highest total score is your best choice.

Example use: Suppose you're choosing between several candidates in a hiring process. You might consider factors like competences (40%), functional/technical skills (40%) and past experience (20%). Scoring each candidate on these criteria can clarify which ones move forward in your process.

2. SWOT Analysis

A SWOT analysis is a tool that helps you identify Strengths, Weaknesses, Opportunities, and Threats. It's widely used in business to evaluate projects, but it's equally useful for decision-making.

I find SWOT an excellent way to 'test' a current situation and help decisions on next steps.

  • Strengths: What is going well? What resources do I have?
  • Weaknesses: What needs improvement? What obstacles am I facing?
  • Opportunities: What external factors could I exploit to my advantage?
  • Threats: What external factors could harm me or my decision?

By laying out these elements, you can gain a clear, balanced view of your situation, which helps you make more informed decisions.

Example. If you're considering a career change, a SWOT analysis can help you assess your current state, identify gaps in your knowledge, explore market trends, and recognise potential risks.

3. The 10-10-10 Rule

The 10-10-10 Rule, popularised by Suzy Welch, is a straightforward yet powerful tool. When faced with a major decision, I consider these three questions:

  1. How will I feel about this decision 10 minutes from now?
  2. How will I feel about it 10 months from now?
  3. How will I feel about it 10 years from now?

This approach helps you consider the short-term, medium-term, and long-term consequences of choices. It encourages you to think beyond immediate gratification and focus on the lasting impact of your decisions.

Example. Imagine you're contemplating whether to take on a new project at work. In the short term (10 minutes), you might feel stressed about the additional workload. In the medium term (10 months), you might see the benefits of gaining new skills and experience. In the long term (10 years), this project could have propelled you into a higher position in your career.

Takeaways

  • Making good decisions is a skill that can be developed with practice and the right tools.
  • These tools are just a few methods to help you evaluate your options more effectively.
  • By using one of these tools, you can approach decisions with clarity and confidence.
  • Better decisions lead to better outcomes.
  • No tool can guarantee a perfect decision, but they can enhance your ability to make thoughtful choices.
Share this post