We are all guilty of overconfidence.
We naturally assume that we know more than we actually do and we jump to conclusions, thinking we can accurately predict the future.
Preparing to be wrong is simply admitting that we cannot predict the future.
A recent study showed that when doctors expressed absolute certainty that a diagnosis was correct, they were wrong 40% of the time.
So, if a well-trained professional making a decision in their specialist area is wrong a substantial portion of the time, perhaps you could be wrong some of the time as well.
In the case of the doctor, you would likely be inclined to seek a second opinion, but how do you ensure your decision is open to evaluation?
Ask yourself this…
How many times in your firm have you done one of the following?
- Weighed up the likely outcomes of your decision – best case, worst case and most likely outcome?
- Created room for error – built a buffer into the decision you have made?
- Written down the potential problems/pitfalls of the decision?
- Created a trip wire – for example, ‘if we don’t make 10% profit we will re-evaluate’?
When you do any of these things, you are future-proofing your decision and making it more likely that it will be the right decision for your business.
Click here to ensure that your decision-making process is strong enough…