According to the American Management Association, at least 70 percent of your decisions will turn out to be wrong in the fullness of time. This 70 percent figure is an average. Some people will be wrong even more often. But you can assume, as a rule of thumb, that 7 out of 10 decisions that you make regarding your life and work will turn out to be wrong in the long run.
Here is a question for you. If 70 percent of the decisions that managers and executives make turn out to be wrong, how can the world continue to function? The answer is simple. Superior people—those who rise to the top of any organization—are those who are willing to cut their losses. They are willing to admit quickly that they have made a mistake and rectify the situation rather than persisting until it gets worse.
Unfortunately, the vast majority of people fall in love with their past decisions, and once having made them, they are reluctant to give them up, even if all the evidence is against them. Don't let this happen to you. Instead, resolve to be the very first to recognize that a decision that you have made or conclusion that you have come to has been invalidated or disproven by new information. Be prepared to drop the old decision and embrace a new solution or new way of doing things.
Was this article helpful?
Among the hardest transitions for individuals is to move from the employee to the entrepreneur mentality. The idea of getting on your own, getting your own business is fantastic. It's the desire of a lot of individuals to leave their jobs and get to be successful business owners.