How much time does it take you to make a decision?
Well, if you have been in two minds whether to do this thing or to do that other thing and can't decide for heaven's sake, take a break.
And immediately after you take that break toss a coin. If you get heads then you will do this thing; tails you will do that other thing.
This is the most optimum decision making mathematically too. Since you only have two options which appear equally good (and bad) and you are torn between the two, toss of a coin gives you the best result. If you don't believe me then look at any sports incuding Cricket which depends on toss of a coin for deciding who will bat first.
An aside
I did a google search and came up with this nugget of information on this blog here (the line is from the first iten under comments):
If not – toss a coin (then scrap the decision and do what you know you want to)?
Ah so, we all do this all the time and don't realise how vital decision by tossing a coin is.
For those who scoff at this method (mostly MBAs) take a look at what Persi Diaconis and his collaborators found out about Coin tossing.
The amount of bias depends on a single parameter, the angle between the normal to the coin and the angular momentum vector. Measurements of this parameter based on high-speed photography are reported. For natural flips, the chance of coming up as started is about .51.
The team demonstrated that the outcome of the coin tossing can be fairly predictable. They organized some complex experiments involving physics and mathematics to arrive at their theories. You can access the entire research paper here.
You can read a shorter, quicker and wittier version here
For those who are more interested in being part of the decision making process. I would suggest you take not more than 30 seconds to decide between the two.
Here's what happened on a weekend on the banks of a lake. This is a recap of a conversation between my friend and me.
Friend: So what will you do?
Me: (silent)
Friend: Don't start analysing again. You have done enough of it and are now in this phase where you are stuck. Just say what you will do.
Me: (still torn)... Okay, I will do this thing.
Friend: Okay. That's it. Let's go.
After walking back to our car. I break the long silence.
Me: You know what, if I do this thing then it can be easily extended into more things.
Friend: Ah, well. You are still debating. I thought you had taken that decision. Now simply go and do it.
Then he launches into a long monologue. However, the gist of that is here:
Friend: Go home and put down the top three markets you will cover; the top three products you will make; the top three resources you will require. Just put down the top three things for every parameter you can think of. Then start with the first priority.
As it happens with decisions, I went back home and took a day to settle down into doing what my friend had asked me to do. However, once I put down those things on paper, things appeared so clear that I jumped into doing the first thing immediately.
The 30-second decision is more like tossing a coin when you are torn between two good ideas. Most often we waste time and energy in endless data gathering and analysis.
I don't think decision by coin tossing is taught in any management school. Perhaps not Yet.
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