5 Steps in the Decision-Making Process
First, what are some of the steps that go into making a decision? The Houston Chronicle’s small business section has outlined the steps below. Especially for bigger decisions, it can be helpful to break down the decision-making process into smaller steps and understand where you are. Just remember, this is just one of many potential paradigms on how to break down a decision!
- Recognize your motivation: What’s causing the need to make a decision? Are you trying to solve a problem or are you wanting to create an opportunity? Understanding the root cause of why you’re seeking out a new way will be a useful reference throughout the decision-making process. Let’s say you want to buy a new car. What’s driving (ahem) that need? Is your car dangerously old or broken? Are you about to add a new member to your family? Understanding your motivation will be key in informing what type of new car makes the most sense given your circumstances.
- Seek information: Using your motivation, outline who else needs to be involved in the decisions (if anyone), what research you may need to do (if any), and if there may be any possible barriers to your progress. For the car, you may need to involve family members in the decision, or research different car specifications, and then think about cost barriers during this phase. If it’s a decision to invest in new technology at work, who are the different stakeholders that will be affected?
- Brainstorm solutions: It’s always good to see a decision through multiple lenses. Come up with multiple alternatives, and consider seeking external advice for an additional, potentially different perspective. How will Car A and Car B compare five years down the road, considering that you love skiing and that your sister is about to have triplets?
- Take action: Make the decision and take action! Just remember that you can’t learn from your mistakes if you never make any mistakes! It’s not uncommon to overplan, especially when the decision we need to make is a big one. Be sure to understand the core questions you need to answer, and then once they’re answered, make the call.
- Evaluate Outcomes: Refer to Step 1. Are you addressing your original reason for making the decision? Are you motivated by the practical decision to get the minivan for the triplets, but instead you’ve decided on the Porsche?
What have you learned either from this decision-making process or the actual outcome? Did your process work? What might you do differently next time?
