It’s estimated that the average human makes 35,000 decisions a day.
No wonder some of us have indecisiveness.
- Which title should I use for my blog?
- Google ads or Facebook ads?
- Use green or blue color for the button on my website?
- Hmm, which is the best data science course. Let me do more research.
- Should I start a business or should I wait and see?
- Should I invest in crypto or go with low-cost robo-advisors?
- Where should we eat today?
Yes, you can use hundreds of hours to make detailed comparisons, research, and debate anything you need to make a decision on. But more is lost through indecision than bad decisions.
A good solution applied with vigor now is better than a perfect solution applied ten minutes later. – General George S. Patton
We hate making decisions out of fear that it will be a bad one. “What if I choose a place to eat, and everyone hates me?” “What if I choose to go with this title, and nobody reads my blog?”
But while we wait, it costs us time and money.
Take investing for example.
I suffered from indecision during my 20s. Hmm, should I contribute to EPF? I think my money is better elsewhere. I looked up all sorts of financial vehicles – stocks, forex, ETFs, property. And ended up – doing nothing!
What a waste. The indecision cost me more than making a bad decision, due to time in the market and inflation.
Indecision happens everywhere. And I’m definitely not the only one.
Leaders are decisive people. If you lead a team, your followers want you to be decisive. Yes, you might make bad decisions and trip over yourself. But at least you made a decision.
Benjamin Franklin said, “Don’t put off until tomorrow what you can do today.
By the way, I made a decision to invest with StashAway. To me, Robo-advisors are great financial vehicles, with one caveat. They charge low fees, so to sustain – they either have to quickly scale their business (manage a bigger fund) or pass the charge to their customers.
But making a decision to invest your money is better than doing nothing. Want to try a robo-advisor? You can use my link for 6-months of free investing in StashAway.
Disclaimer: I’m a marketer, not a financial expert, so do your research and invest at your own risk.