Every decision has some consequence. Most of the times we end up with our head in hands because of the stupid decisions made in past. The decisions you make now will affect your future in the long run. The hardship you are facing now is because of some irrational past decisions and it might be affecting different aspects of your life like relations, productivity and so on. Each and every tiny detail of your life depends on your decisions so make them wisely. Here we have some tips for overcoming your hardship in the future:
BEFORE MAKING A DECISION YOU SHOULD CALCULATE ITS COST AND BENEFIT:
World’s biggest business names and companies predict their future before making a business deal by cost benefit calculation method. Everyone tries to think through before going along with the plan but it doesn’t always work because we forget to calculate the risk involved. When you have a goal, remember there will be risk involved. To reduce the element of risk for overcoming your hardship, you need to do a cost benefit calculation. Make it part of your every single decision, no matter how small it might be. This will prepare you to do better calculation for bigger plans.
COST BENEFIT ANALYSIS WILL HELP YOU IN PLANNING A BETTER FUTURE:
The proper way to make the correct calculation is through calculating the future cost as well as calculating the predicted amount of profit to be made in a specific amount of time. This might seem like a difficult task but it’s nothing different than planning a budget, you are just predicting one for the future and it will reduce the risk factor to minimum. It increases your decision making power and helps in overcoming your hardship properly. The calculation might be easy but it’s tricky too. You have to consider the disruption in environment around you that the decision will cause. You need to see the negative and positive elements and understand the flow of market to make correct predictions.
PLAN AND PREDICT THE POTENTIAL RISK INVOLVED:
Basically the formula of cost benefit calculation is simply analyzing the resources going to be used and predicting the profit going to be gained in return. You take the inputs and outputs and make them work side by side. For example: if a sales man made specific amount of sales in a specific amount of time, his chances of promotion will increase. In this you will task the sales man seeing his ability to make better sales than others and bet on his chances of promotion being better than the others. You need to be really cautious when making the calculation, taking in account the smallest details that can affect your plan in long term. You need to have a clear head and focused mind to do so and still be mentally prepared for every kind of scenario.