Obviously, the most important service you offer your business is leadership and making decisions. Decisions are tough and often times do not turn out the way you planned. So, it begs the question, how do we get better at decision-making? Believe it or not, there is plenty of research about this.

In order to make a good decision, you need all the right information, the right alternatives, and a little bit of luck. You also need to be aware of your shortcomings as a human. The brain can make goofy calculations without you knowing it. These are called cognitive biases, but truly, they are presuppositions that your mind makes without scrutiny.

For instance, when you are forecasting sales do you start with last year’s numbers? Why? Could there be some unforeseen upturn in the economy that would render your numbers useless? Do you mentally make adjustments for increases or decreases. Do you think your subordinates took the same factors into consideration? This is called the Anchoring Bias. It puts extra credence into the first information.

Do you have a bias toward the status quo? Does change make you nervous and therefore you avoid it? That’s the aptly named Status Quo Bias and it could lead you to losing potential profits simply because you are afraid.

Then how about the old cover up known as the Sunk Cost Bias? Have you poured money multiple times into a product that just won’t go? This bias could prevent you from seeing the problem with your decisions.

Call Amata Office Centers today to learn more about your business needs: 1-877-262-8204