Often when I’m coaching financial advisors, my client will face an important decision. If they’re still stuck after we discuss the options, I’ll offer one of these two other decision-making tools.
1. Live with it. Let’s say my client is choosing between option A and option B. I ask them to choose the option that they’re leaning toward and then “live with it” for the next few days. How well they feel about living with that decision over the next few days determines whether it’s the right decision or not.
2. Coin flip. This is similar to “live with it” but the reaction is immediate. We assign option A to heads and option B to tails. Then I ask my client to pick heads or tails and I flip a coin. Once I tell them whether it’s heads or tails, I ask them for their immediate reaction. Are they “relieved” that it landed on the side they picked, or do they want to flip again?
The reality is, you already intuitively know the answer for almost every decision. Sometimes you just need a little test to tease it out. Your clients are the same. Use these two tools when they’re stuck.
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