The book NEVER GO WITH YOUR GUT provides valuable information that gives individual a basis on how to come up with a wiser decision. The future of the company as a whole depends on how business leaders decide. Further, this book teaches how to deal with the “internal” self in every situation that requires decision making.
I’ve known a friend who tried to establish an investment group. It is composed of five individuals who agreed to have a monthly due. It was agreed that the dues are intended to invest in higher interest such as stocks and mutual funds. At the beginning, it turns out so well. Until one day, one of the members, driven by gut, decided to host a concert. Confidently he assures the group that his proposal would earn much. In the long run, the event turns out to be losing, and there were misunderstanding among the members which eventually lead the group into withdrawal.
Should the group had known this book, the group would have a different perspective on how to put in place all the necessary things to be done particularly the attitude of handling a startup business.
What surprises me in this book is that, in every chapter contains information on how to process the self. In fact, for some reasons there are times that I am confused especially when the book provides a research where gut could be right. However, in my own point of view, I would go for a more systematize approach in decision making rather than following the gut feeling. Further, every time I feel gutsy, I will consider it as a basis to evaluate and process situations before decision will be made.
Having limited resources on how to start a business is one of my problems. My parents are not businessperson, or my profession does not teach business. In the book, there are twelve techniques to address these issues.
Identify and make plan to address dangerous judgment errors – should I be confronted with a risky situation where decision is necessary, I would evaluate the situation, examine every angle and possibilities, consult expert if necessary, to avoid unnecessary results.
Delay in decision-making – should I be so unsure; I would spend some time to review all necessary factors before deciding.
Mindfulness and meditation – I will spend time to consider the people directly or indirectly involve in my decision. I would spend time to meditate to energize my capacity to think critically.
Probabilistic thinking – should unnecessary event will happen I would spend my time finding evidences on how or why things happened.
Making predictions about the future – as a visionary, it is important to make predictions about the future. It includes, changing attitude, changing strategies, eliminating traditions.
Considering alternative explanations and options – should the behavior of the people around is unpleasant, I would rather check what is behind reason.
Considering our past experience – we learn from the past. Should the experience lead us to prosper, then continue. Should it made us broke, then move on and find new ways.
Evaluate the long-term future and repeating scenarios – our daily routine determines the outcome of our goal. There is always the need to evaluate if there is a need to change of the routine to bring the company to a greater profit.
Considering other people’s point of view – listening is the best way to learn. Using an outside view to get an external perspective – check and balance approach. Consulting stakeholders is best method in setting direction to the company.
Setting a policy that guides your future self or your organization – to avoid the risk of bankruptcy and abuse of employee or business partners, setting policy is a best way.
Making a precommitment – adaptability of other organizations that are helpful.