There comes a point in everyone’s life where we have to make a tough decision. Tough decisions are part of life, especially when you are trying to reach big goals, make a huge impact, and reach your potential.
Think back to when you were perplexed about a decision. Maybe it was about starting a business, investing in a business, moving, buying or selling your house, changing your kids’ school, etc.
In the legendary personal development book, “Think and Grow Rich”, author Napoleon Hill says that high achievers make decisions quickly and change them slowly. Most people procrastinate on making tough decisions because they are hard! They keep putting off the decision and they end up doing nothing, which in most cases, is the worst thing to do.
High achievers make the best decision they can, and if it was the wrong one, they change it. The key in this process is they decide quickly! They decide and start moving forward, and if they were wrong, they quickly change the decision and get back to work.
99 times out of 100, they still end up making more progress than the person that procrastinated on deciding.
Now, I understand that this sounds good on paper, however, none of us want to make the wrong choice that could cost us money, time, and embarrassment.
So, how do you make these decisions and know you are making the right decision for yourself? What I am about to share with you saved me $300,000! That’s right…$300,000! So, please pay attention!
If you know me, you know I am addicted to personal development. I read 2-4 books per month, and I am always listening to audio programs or podcasts in my NET time, which is “No Extra Time”. By the way, NET time is when your body is busy but your mind is not. That could be when you are driving, working out, walking the dog, doing laundry, folding laundry, cleaning the house, etc.
One of my favorite programs is a course called “Insane Productivity” by Darren Hardy. In that course he has you identify your core values. Your core values are fundamental beliefs and guiding principles that help you determine right from wrong.
We were given a PDF document with a list of hundreds of core values, and through a process of whittling down which ones mean the most to you personally, you determine your top 3 core values.
Those core values will serve as a beacon as you navigate through life and make tough decisions.
In the course, Darren talks about struggling to decide whether to invest in this gourmet burger business that he was presented with. In the end, he chose not to because investing in a business that is promoting unhealthy foods was not in alignment with his core values. What’s important is that weighing the choice against his core values made the decision very easy.
After doing the exercise, I determined that my core values are: Success - Growth - Contribution.
Fast forward to the end of 2019. I was given the opportunity to invest in this very successful local pizza restaurant in Upstate New York that has been operating very profitably since the early 1980’s. My cousin is the manager of the restaurant, Avicolli’s, and the owner was ready to retire. My cousin wanted to buy the business.
The owner was asking for $400,000 down in the deal. My cousin had raised $100,000 and was coming to me for the balance.
They sent me all the financial information, and I have to say that the numbers were very good. This was a well-run, very profitable business. If I invested, I was going to make a handsome return.
I deliberated on this for several weeks without making much headway if I should or not. In the end, I weighed it against my core values, and the decision was clear. This was not the right opportunity for me.
I come from a family that struggles with obesity. I love pizza but I do not eat it regularly because my genetics make it very easy for me to gain weight. I have to be careful! I told my cousin I was going to pass on the opportunity.
This was in October or November of 2019, and in March of 2020, Covid-19 hit. I was informed that revenue went down drastically in the business and did not recover for quite some time.
In the end, making the right decision for me was pretty simple when I weighed it against my core values, and it proved to be right for me. Even if Covid never hit, it still was not the right decision for me, my goals, and my future.
What are your core values? Look at the accompanying list of core values and determine yours. Start by circling anyone that resonates with you, then narrow it down to 10, then 5, and finally 3.
You will see those values will serve as a guiding beacon in your life, and they will make the journey easier and more pleasurable.
If you would like a copy of the Core Values Assessment and a video explaining the process step by step, shoot me an email at firstname.lastname@example.org, and I will send it right over to you!