The best way to make a decision is to shut off emotional triggers and become a Vulcan, like Mr. Spock, says Baba Shiv, a marketing professor at Stanford Graduate School of Business.
His tips for keeping your emotions in check, particularly during an economic downturn:
Avoid external triggers of emotion such as television, which tends to have a strong influence.
Delegate the task of gathering audiovisual information to someone else, and have that person provide the information to you in writing.
Identify a vetted set of options. But not too many, or you’ll freeze. Three to five options is ideal, says Shiv. Finally, set a deadline for the decision.
“Have all the options presented to you simultaneously rather than sequentially.” Why? With one option at a time, you’ll think that something better could be coming down the pike.
— Adapted from “Managing your emotions in a downturn,” Financial Times podcast.