How Would You Approach a $10 Million Decision That Will Affect The Rest Of Your Life?

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In an earlier blog I went into considerable detail about a decision making model we have used extensively in our Leadership and Management Programs over the last decade.

Two weeks ago in a coaching discussion with a very talented entrepreneurial leader they simply stated “I have a $10 million decision to make that will affect the rest of my life, where do I start?” These are high stakes and I want to share how we took our decision making model and then built a further frame for this leader to reach their final decision.

Before I share the rest of this story I will recap the major steps in the decision making model we use:

  • State the apparent problem or opportunity, and then define the real problem or opportunity.
  • What options are available to address the problem or opportunity?
  • What are the positive and negative consequences that would result from choosing the option?
  • What trade-offs are required to reach a decision for each option?

Back to the story.  The leader concerned followed the steps and developed quite a number of options which they narrowed down to five realistic and viable options.  They then took a completely different view and looked at each option from what they termed a Whole of Life Point of View.

For each of the five options they considered the implications and impact using seven filters: family, spiritual wellbeing /values, health, mental wellbeing/mindset, relationships, financial goals, career goals.

The outcome of doing this not only broadened out their thinking, it led to deeper exploration of each option particularly around understanding the risks associated with each of the options. With the final decision made, on reflection, this leader concluded that it made it easier to select the course of action they took.

While this looks easy it is not, and what is not showing is the value of working with a leadership coach.  In this case the coach played several roles; challenger, reflector, thought partner, sounding board and supporter.

Our coaches can assist in developing your decision making skills.

Contact Vivente for Leadership and Management Development Program In Sydney.