THE BLOG
09/23/2014 02:03 pm ET Updated Nov 23, 2014

5 Habits You Need to Avoid When Making Decisions

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When it comes to making the right decisions in business, nobody is an expert. You may think that doing something now is going to have great effect in the future, but sometimes we learn that the exact opposite has happened. How can we come back and trust our decisions then?

I used to have a website that wrote about technological topics, nothing too fancy, but it was definitely the home for many. I sold the site. I felt that the right decision at the time was to sell the site, and use the money to deal with my problems. I was wrong.

Why? I was under the pressure of money, and it got the best of me. Never underestimate the impact our surroundings have on our choices and decision making. I've compiled a list of five habits that we should avoid, whenever we're in charge of making an important decision, both in business and personal life.

1. False Hopes

I have experienced this habit before. It's distressing. You need to anticipate both good, and bad things. You can't marry someone, and then be 100 percent sure that the marriage is going to last forever and ever, eternally. We all know, that is usually not the case. False hopes are poisonous, avoid them at all costs. It's okay to want something, but to be grateful is a blessing.

2. Long Gone Past

We've all got some sort of insight on our particular business category, but not all of us are capable of letting those insights go when they become useless, more or less. Many people enjoy using the same approaches that they've used for several years, do you really think they're thinking of changing that habit? It has worked for them for a decade, it would probably take as long to teach them something new!

The past is only that, the past. The future is where things keep changing, and that's why it's important to stay on top of things in the present. I feel like determination is the term we're looking for here.

3. Lack of Knowledge

Lack of proper data on the context in other words can be called indecisiveness. Why rely on fear when it comes to making tough decisions? Admit it to yourself that you're incapable of making a good decision based on the lack of knowledge you have on the subject. You can always opt for suffering instead, but I don't believe that having fear of end result is going to motivate you very much.

4. Over-Confidence

You've just had a streak of success, you're on a roll and things are looking pretty great from where you're standing! Heck, you might even go ahead and submit those few reports, and analysis that you've been holding off for so long. Get those extra signups? Easy peasy, let me fire up the cash burner!

Don't fall for the rabbit hole. Make sound decisions based on your honest experience and expectations. Did the business run so well when it first started, and is the success streak going to continue even after the end of time? Being overly confident and optimistic about things can crush your dreams!

5. Where's the Strategy

So, you've got a problem that needs solving, but somehow the problem isn't connecting to the overall strategy of what needs to happen. How do you explain such a situation?

Clear strategy, context, and the dots that connect them both together.

Conclusion

Think about your long-term goals. Go to your co-workers, friends and family for support. Don't read stuff that backs up your initial (false) expectations, add a bit of that realness flavor to your decision making! Make it a fun and enjoyable process. Try some of these productivity hacks to see whether you can find time for some peaceful moments with yourself.