• Blog

New Information Means It’s Time for a New Decision

  • By Dallas McLaughlin
  • November 5, 2016

This can be much harder than it sounds. Trust me.
Changing your mind.
Disrupting the process mid-way, or worse, right at the end.
Doing something other than you promised.
Telling someone the direction you gave them – which they’ve committed time and energy to execute – is no longer the right direction.
To most people this will sound like you were wrong.
But, don’t worry. You weren’t. You just made a decision based on the information available to you at that time.
What happens when you learn of new information? Do you act as if you never learned of it and continue on your way, or do you make a new, more informed decision?
If you didn’t learn of this new information, your original decision would still be your decision. But new facts and information are now available which means it’s time for a new decision without concern for how invested you are in the original decision.
It’s the smart thing to do.
Don’t be a victim of the sunk cost fallacy, and develop the ability to be comfortable letting people think you are wrong. Even when you aren’t.
Progress is more important than hurt feelings.

Dallas McLaughlin

The Business Owner's Guide To

Better Decision Making

As a business owner you are inherently a decision maker and it’s a function of your job to make consistently good decisions in critical moments. But no two decisions are exactly same. Having a deep understanding of how decisions are made and having the tools to create consistent decision making frameworks are necessary to make more rapid and impactful decisions on a daily basis.

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