Dave Ramsey is one of my favorites in both business and the financial world. Based on Scriptural principles, he takes a no-nonsense approach to finance, leadership and life (just ask his kids). He draws a line in the sand and strives (nobody’s perfect) to walk what he talks, and it works! I took advantage of some travel time in the car on the way to a meeting and listened to one of his CD’s on leadership. The concept he shared about making decisions proved simple, but profound.
Many decisions in life are easy to make – what to have for lunch, which container of milk to buy, how to subscribe to an e-zine, or whatever other similar choices affect your life. Hence, you needn’t spend a lot of time on the process of making your decision. On the other hand, if you have saved for a long time to buy a new car, you want to ensure you spend adequate time to make the right selection. Your choice will be with you for a long while, hopefully. In other words, small impact decisions require less thought than their weightier counterparts because they have a greater long-term impact. The amount of time you take to make your decision should be proportionate to its impact.
As one of those people with a million ideas, I can get bogged down in the process which sometimes leads to procrastination, a sense of being overwhelmed or a good idea falling through the proverbial cracks. Ramsey suggests when you have to make one of the heavier decisions or if you feel like you’re spinning your wheels, grab your calendar and set a date to decide. Don’t drag it out. Weigh the pros and cons, decide and move on. Setting a date relieves the stress because, if nothing else, there is an end in sight.
Your date may reflect a deadline that is either real or self-imposed. Either way, you’ll need to evaluate the facts, opportunities and challenges and then act. Based on your decision, you can adjust if the results are not immediately satisfactory. Whether you’re purchasing a new home, a piece of equipment or determining if you should open or close the doors on a business, Ramsey’s method has worked for him and countless others. I think I’ll give it a try. What do you think? Do we have a date?