A Billionaire’s System To Making Effective Business Decisions That Achieve The Best Outcome

Written by
on February 1, 2016
| 4 mins 21 secs

Today I wanted to share with you the simple system to making the most effective business decisions that achieve the best outcome.

This simple system was taught to me by a Canadian Billionaire, Seymour Schulich, and I’ve found that this really is the most efficient system and has a deciding factor for making any important business or life decision.

Whenever I had to make a decision on an investment, to partner with someone, joint ventures, or take on this client or not I’ve actually used this simple system and it really is easy to use, understand and it can be done very fast.

Once you’ve done this a lot of times, you’ll be able to have a pre-filled out list based on time, energy, mental capacity, opportunity cost, relationships etc

The great thing is once I share this system with you then you can use it right now to make any important business or life decisions that you need to make. You know, anything that’s been lingering on in the back of your mind.

Ultimately, this will help you feel confident and be happy with the decision that you made.

You all know the simple pro-and-con list?

The one where you divide the page in two and simply list out all the pros and cons. Well, this system adds a twist to that. Here’s how it works…

On one sheet of paper, list all the positive things you can about the issue in question, then give each one a score from zero to ten—the higher the score, the more important it is to you.

10 being this pro item is the most important to you. 1 being not important at all and you might not even list it.

On another sheet, list the negative points – cons, and score them from zero to ten—only this time, ten means it’s a major drawback.

Suppose you are thinking of whether or not to conduct a joint venture with another company where you cross promotes your services or product to each persons customers in order to introduce something unique that you both offer.

Now you might really like the fact that you could generate some additional sales and promote your brand from this jv but at the same time your not as comfortable because you are unsure if your “new” jv partner will treat you like an equal partner when you sign the deal because they have a tough personality and don’t like to be challenged.

Then you might assign “generate sales and promote brand” a 10 but at the same time “Not being treated as an equal partner” also a 10.

Now add up the scores. But here’s the rule.

If the positive score is at least double the negative score, you should do it—whatever “it” is.

But if the positives don’t outweigh the negatives by that two-to-one ratio, don’t do it, or at least think twice about it.

Yes that sounds simple. I agree. But I also don’t think that things need to be complicated in order to be effective.

“This system is effective because it’s designed not to allow one or two factors to sway a major life decision in a disproportionate way. It makes you to strip away the emotions and really look at the importance of each item logically, of course, is why it works so well.”

– Benson Sung

Now keep in mind most peoples inability to make decisions is because of several factors like over analyzing, worrying about the end result and the open possibilities and how you feel about everything is the cause of the in-ability to make decisions.

So this is the decision making system that you can use to make more effective decision because you are listing everything out logically and then assigning a level from 1-10 of how you important you feel it is to you.

This system also works when you are making decisions among partners or a board of directors.

All you have to do is to get them to all follow the exact same steps that I just listed out for you and see if the majority of members got positive scores or negative scores.

I personally carry a small notebook and pen which I use to jot down ideas or anything that comes to mind, which I believe is important habit to start if you aren’t already – I’ve had my biggest breakthrough and money making ideas when I least expected it…

or if at anytime I needed to make an important decision I just draw this out and I’ll know very quickly if this is a good decision or not after doing it so many times and this also saves my mental capacity of having to think this through too much and instead just lay it out on paper.

Let me know how this system works for you and what important business decision you need to make or have made with this simple decision making system and if you’ve got a good way of making important business decisions. I’d like to hear about it in the comments below.

Thanks for reading this and I’ll see you in the next one.

To Your Success,

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