How to Become a Smarter Decision-Maker

by Dec 6, 2022

Get the ‘Secrets of a Six Figure Freelancer’ ebook today for $1

Learning how to become a smarter decision-maker is a priceless life skill to have. This skill can save you a lot of stress, trouble, and heartache in the future. Getting better and then continuing to make smarter decisions is especially important in business settings where poor decisions can cost you thousands of dollars. 

Learn From Your Mistakes

You will never make smarter decisions if you don’t first acknowledge past mistakes and learn from them. Mistakes don’t mean that you will always be bad at making decisions; they just mean that you have room to improve and things to learn. 

You should analyze your mistakes objectively without getting too emotional or hurt over them, which may mean waiting a while before fully analyzing a mistake. “Mistakes journals” are commonly used for standardized test preparation, but they can also be used for any type of mistake as well. When documenting your mistakes, you can record what happened, what could have gone differently, and what you learned. 

Gather Data

Making good decisions depends heavily on having good data. Data gives you direction for making decisions because it allows you to predict possible outcomes. Good business decisions rely on key insights. 

These insights typically include revenue analysis, sales trends, and consumer patterns. If you are not good at gathering data yourself, hire someone to help you or use data-gathering programs. 

Avoid Making Reckless Decisions

Wise decisions are based on sound judgment. Typically, these decisions are thought up, analyzed, and implemented gradually. This gradual progression of decision-making leads to better thought-out choices with more positive outcomes. Being in the right mindset is crucial to avoiding reckless decisions. For example, you should not make important decisions when you are exhausted since exhaustion makes it hard to concentrate. Similarly, you should avoid making important decisions when you are particularly hungry or emotional either. These outside factors affect you physically and mentally, leading to more reckless decisions. More reckless decisions could have serious negative repercussions on your life and business. 

In the business world, you need to consistently be making intelligent decisions to succeed in your market and stay relevant. Learning decision-making skills in other parts of your life can greatly improve the quality of your decision-making in terms of your business. Becoming a smarter decision-maker will only happen as you continually make decisions. Learn to take considerable risks and choose what you think is best. Then, always be willing to learn from your mistakes. 

Want to start your own business? Learn more about my secret strategies.

Other Posts You Might Like

Three benefits of studying business

Studying business may sound intimidating, but the skills that you’ll develop along the way can be life-changing. A business course...
Read More

Three AI tools for freelancers, that’ll help you work smarter

AI is revolutionising the world of business. Industries of all different descriptions are capitalising on the latest advancements that are...
Read More

UI vs UX: Are They The Same Or Different, And What Is Their Impact On A Website? 

The phrases ‘User Interface’ (UI) and ‘User Experience’ (UX) are frequently used in tech-related settings. What does a UX or...
Read More

Get Your Creative Business on the Map

As a creative professional, obviously you want to get your work out there. Often, though, that’s easier said than done....
Read More

How to Write Compelling Email Copy that Converts

In 2022 alone, there were a total of 333.2 billion emails sent out and received globally. Sounds outrageously high? That...
Read More

Running A Business & Having a Life

Running a business brings many challenges, and so does running a household. While the two aren’t mutually exclusive, keeping all...
Read More

Legal Issues Every Freelancer Should Know About

You may not have the resources of a larger company to handle legal matters, but it's important to know the...
Read More

Why You Should Become a Freelance Writer

Writing is a skill that doesn’t come easy to everyone, but if it’s something you do well and enjoy then...
Read More

How to Get Out and Promote Your Brand

As a small business owner, it's important to get out and promote your brand. You can't just sit behind your...
Read More

The Benefits of Working as a Freelancer

Freelance work has become more popular, but for many people, it can still be an unfamiliar idea. While there are...
Read More

Hi, I’m Kate

Hey, I’m Kate! I’m a designer, digital nomad and founder of Six Figure Freelancers – I love to help talented tech pros start businesses.

Work with Me

Get The Book

AppSumo badge

Featured Post

Would You Like Help Finding Freelance Clients?

Learn more about the Six Figure Freelancers training programs, and learn how to take your freelance business to the next level.