Practice This Today

Amar Pandit , CFA , CFP

Amar Pandit

A respected entrepreneur with 25+ years of Experience, Amar Pandit is the Founder of several companies that are making a Happy difference in the lives of people. He is currently the Founder of Happyness Factory, a world-class online investment & goal-based financial planning platform through which he aims to help every Indian family save and invest wisely. He is very passionate about spreading financial literacy and is the author of 4 bestselling books (+ 2 more to release in 2020), 8 Sketch Books, Board Game and 700 + columns.

If there is one skill that all of us need to truly master, it’s this.

Have you guessed it?

Let me give you a hint with a Maimonides quote:

The risk of a wrong decision is preferable to the terror of indecision.

I am quite sure you would have guessed the skill.

It’s making quick decisions.

Doctor Anthony Gunn, a psychologist and Author of the book “Get Happy” writes “Practice making quick decisions.”

He adds “Indecision can be crippling, because we overestimate the risk of making a wrong decision. This is why many people get others to make decisions for them : I’ll have whatever you decide; Do you think this top matches the pants? Making quick decisions is a habit that can be learned.”

Before it becomes a habit, you have to practice it. Start with simple things such as “Buy the first book that catches your attention or Order the first dish that you have never tried before.”

While I understand there are some simple decisions and some seem complex (which partner to choose to help with our business), the key is to have the following.

  1. A process to make these decisions (If you don’t have one, we can help). If you can’t decide on your own, seek the help of a professional.
  2. Set a fixed day and time by which you will make this decision. This is sacrosanct.
  3. Finally, I use this question to decide any investment or important decision in the business (after doing Step 1 and 2, sometimes it’s pure gut- the second brain).

“What’s the worst that can happen?”

Have I made all the right decisions? No, I have made some wrong ones and I have made many right ones, but that’s not the most important thing here (and frankly it does not matter).

Two Powerful things that matter are:

a. You will Learn and

b. You will Make Progress

This is a guarantee that I can give. You will Learn and You will make Progress for the better.

Which decisions have you been postponing?

TODAY is the Day to make a new beginning and start practicing making quick decisions.