Don’t Work Stupid, Coach Yourself
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Chapter 4: The Right Decisions
“Sometimes it's the smallest decisions that can change your life forever.”
~ Keri Russell
Lesson 4: Improve Your Methods for Decision Making
Few things in life affect you more than the decisions you make. Any decision can change the course of your life. You need to learn how to make the best logical decisions with all the information. The result of your decisions should be the result you desire.
The larger and more important the decision, the more time and effort you should put into the decision-making process.
Here are the steps (and an example) for making excellent decisions:
1. Identify the decision you want to make and your ideal outcomes and objectives.
John wants to buy a car for only $10,000.
John needs to decide what car to buy and whether to finance it or pay cash.
John has $10,000 in savings and good credit.
2. Research. Put together as much information about the subject as you can, to improve your chances of making an informed decision.
John researches all used and new cars to fully understand the strengths and weaknesses.
John researches interest rates for new and used vehicles.
3. Define all choices. Keep all choices that align with your interests, values, and goals. Discard the rest.
What’s important to John is the car’s reliability, safety, and fuel efficiency, not the make or model.
What’s important to John regarding cost is that he doesn’t want to pay a loan for over 2 years.
4. Define all outcomes of each option.
John could buy a new car, but that would cost $20,000 or more and he would have to pay for it for 5 years.
John could buy a used car and pay cash, but then he would have nothing remaining in savings.
John could buy a used car, pay for part of it and finance the rest. That way he could keep enough money in savings.
5. Define all the pros and cons of each outcome.
John would love a beautiful new car, but can’t afford to buy it; it's just too expensive.
He could buy a used car if it is in good shape; he might have to worry about more repairs.
Ideally, John would like the car to look almost new.
John can’t pay all cash, because he needs reserve savings in case of an emergency.
6. Ask trusted family and friends for their opinion on the choices.
His brother says “go for the new car, you deserve it!”
His father says, “buy a used car, just make sure it’s a one-owner car, with only 50,000 miles, and no history of accidents or flood damage.”
His girlfriend doesn’t care what he buys; she wants the radio to have Bluetooth, so she can play her music.
7. Make your decision.
John buys a one-owner, Toyota Camry, with 50,000 miles, a clean title that's free of accidents and weather damage.
He puts $5,000 down on the car and finances the rest of the balance for 2 years at 5% interest.
He buys new floor mats to make it look like a new car.
The radio has no Bluetooth, but no one gets everything they want.
In the example above, John could have made a different decision. The decision he made was one that met all his requirements and was the best overall choice for a car. Long term he will know if he made the best decision.
This is one process for making excellent decisions. Sometimes, even with this process, you can have an unexpected result. However, this process should limit risk and maximize the chance of a good result.
Decision Trees and Flow Charts
Decision trees and flowcharts are very helpful for making good decisions. These are excellent because both will visually engage your thought process.
They often use decision trees and flowcharts in technical disciplines to find the best solution. But there's no reason you can’t use these tools when making an important decision.
According to Wikipedia, “A decision tree is a decision support tool that uses a tree-like model of decisions and their consequences, including chance event outcomes, resource costs, and utility.”
According to SmartDraw.com, a "flowchart is a visual representation of the sequence of steps and decisions needed to perform a process. It notes each step in the sequence within a diagram shape. Steps are linked by connecting lines and directional arrows.”
Since there are so many excellent resources online, this book won't cover much more about these tools. The important concept is the more information you have and the better you identify outcomes (best and worst outcomes), the better decisions you will make for difficult and complex issues.
You can create decision trees and flowcharts with a pencil and paper or on a whiteboard with dry markers. You don’t have to buy any software to do this (although a lot of this software is fun to use and can make the process easier). Below are great resources with a lot more information.
Summary
Few things will affect your life more than your decisions.
The larger and more important the decision, the more time and effort you should put into the decision-making process.
It is paramount that you develop a reliable method for making excellent decisions.
Questions to Ask Yourself
Do I make good decisions? If not, why not?
What can I do now to make better decisions?
Do I always want to learn from my own mistakes?
What is the last thing I learned the hard way?
What other decisions could I have made?
Would the outcome have been any different?
Additional Resources
Psychology Today – “5 Tips for Better Decision Making”
Using Decision Trees
Wikipedia – https://en.wikipedia.org/wiki/Decision_tree
LucidChart.com – https://www.lucidchart.com/pages/decision-tree?a=1
Victor Lavrenko YouTube, Decision trees – https://www.youtube.com/watch?v=eKD5gxPPeY0
Using Flowcharts
SmartDraw.com – https://www.smartdraw.com/flowchart/
Wikipedia – https://en.wikipedia.org/wiki/Flowchart
Eugene O’Loughlin Video re Flowcharts – https://www.youtube.com/watch?v=hN9xemJYwos
Chapter 5: Perform a SWOT Analysis
Good leaders make people's strengths effective and their weaknesses irrelevant.
~ Frances Hesselbein
Lesson 5: Understand Your Strengths and Opportunities
Taking inventory of your abilities and liabilities is very important. You should understand your gifts: the strengths and opportunities that make you who you are and what is unique about you! Using a SWOT analysis is one way to accomplish that task.
What the Heck is a SWOT?
They use a SWOT analysis or matrix for business strategic planning. It identifies the strengths, weaknesses, opportunities, and threats related to achieving a specific project, business initiative or analyzing market competition. A SWOT analysis is also useful to identify the same four categories as those apply to you and your career.
The best way to do a SWOT analysis is with someone you trust that knows you well. It is very difficult to see oneself the way others can. However, you can do an initial evaluation (write it down) to a “straw dog” to start a discussion.
Evaluate Your Strengths
Strengths are what you do well. Said another way, these are your talents and abilities. We gravitate towards our strengths in both our personal lives (such as hobbies) and professional lives (in choosing a career). Think about it: Shouldn't we gravitate towards our best assets? Who would want to focus on their own weaknesses?
For example, if you are good at math, you might find music and games like chess interesting. If you are good at Math, you might also do well in Engineering, Logistics, Economics or Business or Web Analytics.
Evaluate Your Weaknesses
Weaknesses are the lack of abilities, skills or
traits that could put you at a disadvantage, when compared to others. For example, if you want to be a Digital Director, but know little about technology, Search Engine Optimization (SEO) or Email Campaigns, these are weaknesses. When identified, you can turn some of your weaknesses into strengths by taking training and working on projects that use those skills.
Sometimes, however, weaknesses are just that–weaknesses. For example, if you are bad with numbers, you would probably be very unhappy working in a Finance or Accounting department.
When to do Something About Your Weaknesses
The only time you need to work on weaknesses is if those are keeping you from being successful in your long-term goals. Otherwise, don’t focus on them. We are all weak at something.
Evaluate Your Opportunities
Opportunities are the things you can do that will aid you in building the career you want. For example, you might have a lack of experience in public speaking or presenting to large crowds. To help build your public speaking skills, you could join Toastmasters. You would gain public speaking skills and develop an entirely new network of professional colleagues.
Here’s another example: You’re interested in working at a company that uses only Apple computers, but you only know how to use Windows computers. The opportunity is to learn how to use Apple computers before you interview or work there.
Evaluate Your Threats
Threats can be people at work, the state of the industry you work in, the unemployment rate, or anything else that can harm your career. By identifying these threats, you can plan out a strategy to minimize potential liabilities.
For example, if you want to build new automobiles, but those jobs are going overseas or done by robots, you will probably have to seek a luxury or custom brand manufacturer and spend several years as an apprentice or go to a specialized technical school before you can do that.
The important thing about threats is to identify those as soon as you can to minimize risk and continue along your 10-year career plan.
Put it All Together
Your SWOT analysis is done and you have all kinds of good information. How do you use all this SWOT information?
First, look at the below SWOT analysis table:
HELPFUL HARMFUL
Internal (to you) Strengths
(good) Weaknesses
(bad)
External (to you) Opportunities
(good) Threats
(bad)
Notice the areas that are “helpful” and “harmful.” In life, always focus mostly on your strengths and opportunities. Not only will you be happier-you will be more successful.
Strengths and Opportunities
Strengths and Opportunities are the areas you want to build a career around. It is important to know what your strengths are because these should align well with whatever career you choose. Again, build on your strengths and interests. This will enable you to have a wonderful, fulfilling career.
Weaknesses and Threats
Weaknesses and Threats cause people problems in life and in the workplace. It is important to identify these so you can avoid or fix those things. In your career, consider how to eliminate or minimize weaknesses or threats, so you can be more successful. Again, should you only mitigate a weakness or threat if these will cause problems in your 10-year plan. Otherwise, don't worry about them.
For example, if one of your weaknesses is listening to people, you definitely want to fix that. This weakness could definitely harm your career if unresolved. Take a class or read a book on actively listening.
If one of your weaknesses is creating custom graphics and your job is Technical Writer with a career goal of being a Technical Documentation Director, you probably don’t have to worry too much about that weakness. Graphics departments usually help create those images.
Job Searches
Taking a good SWOT inventory is also important for job searching. Your strengths are key assets. Your Resume should highlight these, so employers will easily understand your competencies.
Summary
Taking inventory of your abilities and liabilities is very important. Using a SWOT analysis is one way to accomplish that task.
Build your life and career around your strengths and opportunities.
Minimize the liability of your weaknesses and threats.
Questions to Ask Yourself
Regarding Strengths:
What are the most important strengths relevant to my particular career path?
Which strengths do I need to develop in the next year?
Regarding Weaknesses:
What weaknesses are important for my career path?
Which ones must I fix in the next year?
Who could be a resource for minimizing these weaknesses?
Regarding Opportunities:
Which opportunities are important to my 10-year plan?
Which ones should I work on the next year?
Regarding Threats:
Which threats could harm my career plans?
Which ones should I mitigate in the next year?
Who could be a resource for minimizing these threats?
Additional Resources
Wikipedia.org-"SWOT Analysis"
Mindtools.com-"Personal SWOT Analysis: Making the Most of Your Talents and Opportunities"
Strengths Finder 2.0–This book and the accompanying test will objectively help you understand your strengths so you can make the most of those.
Chapter 6: Sincere Feedback
“Critique, feedback, reaction to one's work or the way they have presented it, regardless of intention, is a gift.”
~ Mark Brand
Lesson 6: Ask Colleagues for Sincere Feedback
This task will require you to “check your ego at the door.” Asking someone else what they think of you takes a LOT of nerve–because the answers you’ll get will not be the ones you expect. It is, however, the best source of truth for how others see and perceive your abilities and behaviors.
This is how to solicit personal feedback: Select 10 people you know from work and trust; email each of them. In the email, you can say something like the following (included in the Download free PDF Files):
____________________________________________________________
In the Subject line type: I’d like to get your opinion on something
Hi
Thanks for reading this email. I was wondering if you would do me a favor. I am trying to get honest feedback on the top 2 or 3 areas of improvement I could focus on in the coming year. I am sending you this because I know and trust you. Hopefully, if your answer is yes, you’ll think about it and send me some helpful feedback. You can also mention things I do well, but that’s not the point of my email.
Anything you say will be truly appreciated and it won't hurt my feelings. Please be “brutally honest” with me.
Thank you in advance,
____________________________________________________________
Response rates to this email will vary. If you know these people well, you can expect about a 20 to 30 percent answer rate. If you don’t work with these people, the rate may be even higher. Either way, it's an excellent source of information.
It is very difficult to read and accept constructive criticism about oneself. However, it is the only way to learn how others see you. It takes a high level of maturity to hear these things. But I guarantee you it will be worth it.
When you get a response, thank the sender. Allow your mind a day or two to evaluate the feedback. If you get a few responses that echo similar themes, consider working on those issues. You can ask for additional information from the sender, but if you have lots of questions or complex ones, you might invite that person to lunch (your treat), to get more insight and network.
Summary
It takes a lot of maturity and self-confidence to ask others for feedback about areas of improvement.
You will learn more
about yourself from others than you will ever by thinking about yourself.
Questions to Ask Yourself
Am I prepared to hear negative feedback about myself?
What do I think are the top 2 or 3 areas I could focus on in the next year?
Who are 10 people I believe I can get honest feedback from?
Am I ready to work on areas of myself? If not, why not?
Additional Resources
Harvard Business Review – “How to Handle Negative Feedback”
Forbes Magazine – “8 Ways Negative Feedback Can Lead to Greater Success at Work”
Fast Company – “Thick Skin Thinking: How to Use Negative Feedback at Work to Your Advantage”
Chapter 7: No Substitute For Excellent Planning
“Planning is bringing the future into the present so that you can do something about it now.”
~ Alan Lakein
Lesson 7: You Must Plan Out Your Career Now!
All successes begin with a great plan; that’s the purpose of this chapter. Planning isn't difficult, it’s only a series of steps (actions) and milestones (accomplishments).
Once you have answered all the tough questions and done a good SWOT analysis to create a well thought out career plan. The plan should comprise a 10-year plan, broken down into 1-year chunks. The best way to accomplish something important is with a plan that's written and reviewed consistently.
With a plan, you can measure progress to assure you are moving towards your goal. Without a plan, you will have no way to measure this journey, nor an easy way to tell if you are on track or going in the wrong direction.
This plan is for your use only. You can share it with others, but that’s not the purpose. You will control, measure and update it as necessary to achieve all that you desire.