why good decisions are so much like bad decisions

why good decisions are so much like bad decisions

 

discipline. often associated with making good decisions.

exercising – while the rewards/results are not instant, discipline begin to pay dividends 3 to 6 months down the road.

long term investing – while short term volatility may lead to some missed profit taking, 8-10 years down the road, your investments could show considerable growth.

saving money – interests may seem completely trivial (and they are considering the profits the banking industry rakes in) but they compound considerably over time.

what may surprise you, is that truly bad decisions share a very similar arch. to be clear, we are not talking about terrible decisions, which are actually less dangerous because of the Pavlovian effect of instant feedback, but rather bad decisions that are often the result of habits and established processes.

not investing in your people, not properly developing your marketing strategy, settling for just “good enough” – all, generally, save money instantly and show no immediate ill effects. (all trivial amounts when compared to the value of your business, your customer, your employees…)

but, just like discipline has its rewards, short sided “disciplined/prudent” decision making also has its own return.

lower profits, shrinking market share, weakening culture and morale, decreasing customer loyalty.

you may walk away today feeling like you have outsmarted everyone and not wasted time or money on something that does not matter, but just like poor eating and exercising habits, you will wake up one day with no idea how you ended up in the shape you are in.

 

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January 31, 2014 0