Don't trust your gut; trust your process

60 percent of managers say their companies make just as many bad decisions as good ones. A couple of authors in this article think we make bad decisions at an unnecessary frequency.

You cannot afford to be in the business of making mistakes. Here's how to make your decision-making process clearer, without just "trusting your gut" or relying on irrelevant data:

1. Look at more than one option. You may fall in love with your first decision or instinct, but that also leaves room for you to diminish all the red flags. Leave yourself with more options to consider, or imagine that your top option is gone. What are you going to do now?

2. Get some distance. We tend to make emotionally charged decisions in the moment instead of thinking about the consequences 10 minutes from now, 10 months from now, or 10 years from now.

3. Don't get too cocky. The No. 1 mistake so many managers make is overconfidence. Look at a decision from all angles, even the worst-case scenario.

4. Look for the critical changes. And develop an action plan of what to do next.

By what process do you make decisions in your business?

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