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DECISION MAKING by Oleksiy Nesterenko

At OLEKSIY NESTERENKO. STARTUP FINANCE we often have to remind our clients that, unfortunately, there is no panacea for poor decision-making and no Excel plug-in will help them in all settings.

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DECISION MAKING by Oleksiy Nesterenko

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  1. GOOD DECISION MAKING OLEKSIYNESTERENKO STARTUPFINANCE

  2. ATOLEKSIYNESTERENKO.STARTUPFINANCEWEOFTENHAVE TOREMINDOURCLIENTSTHAT,UNFORTUNATELY,THEREIS NOPANACEAFORPOORDECISION-MAKINGANDNOEXCEL PLUG-INWILLHELPTHEMINALLSETTINGS.THEWORLDISA COMPLICATEDPLACE.FORTUNATELY,BEINGAWAREOFTHE COMMONDECISIONTRAPSISTHEMOSTIMPORTANT PROTECTIONONECANHAVE.HOWEVER,PROTECTING YOURSELFWILLALSOREQUIREABITOFWORK.YOUNEEDTO BECONSTANTLYAWAREOFTHETRAPSINTOWHICHYOU MIGHTFALL,ANDWILLWANTTOEXERTABITOFCOGNITIVE EFFORT.FORINSTANCE,OFTENYOUWILLNEEDTOASSESS YOURUNCERTAINTIESANDALWAYSBEAWARETHATYOUR MINDWILLTENDTOMAKETHINGSAPPEARMUCHMORE CERTAINTHANTHEYAREINREALITY.

  3. OLEKSIYNESTERENKO.STARTUPFINANCEOUTLINESTHEKEYTOOLSTHAT WILLHELPYOUINYOURDECISION-MAKING. • DECISION PROCESS VS. DECISION OUTCOME GOODDECISIONSDONOTALWAYSLEADTOGOODOUTCOMES,ANDGOOD OUTCOMESDONOTNECESSARILYIMPLYTHATAGOODPROCESSISUSED. CHANCEALWAYSPLAYSABIGROLE,SOONECANNOTCONFUSEAGOOD DECISIONWITHAGOODOUTCOME.THEBESTHOPEFORAGOODDECISION OUTCOMEISAGOODDECISIONPROCESS(FOCUSONWHATYOUCAN CONTROL!).

  4. •INTUITION DONOTIGNOREINTUITION,BUTBEAWAREOFITSLIMITATIONSANDTRY TOVALIDATEITBYSYSTEMATICANALYSIS,ADDITIONALINFORMATION, ANDADVICE.BESYSTEMATIC:WHATARETHEODDS?WHATISATSTAKE? •DECISIONOBJECTIVES REMEMBERTHATWEDONOTTHINKENOUGHTOWHATWEWANTAND WHY.BYDOINGSO,WEANCHORONTHEAVAILABLEALTERNATIVESAND MISSMANYOPPORTUNITIES.DONOTDECIDEAMONGASETOFGIVEN ALTERNATIVES.INSTEAD,IDENTIFYYOURFUNDAMENTALDECISION OBJECTIVE,ANDTHENGENERATEALTERNATIVESTHATARECONSISTENT WITHIT.ONLYTHENSHOULDYOUDECIDEAMONGALTERNATIVES. FURTHERMORE,ALWAYSUSETHE“WHYISITIMPORTANT?”TESTTO IDENTIFYYOURULTIMATEOBJECTIVES:WHYISTHATOBJECTIVE IMPORTANT?ISITIMPORTANTINANDOFITSELFORONLYASAMEANSTO SOMEOTHERPURPOSE?

  5. • MAXIMIZING VS. SATISFICING CONVENTIONALVIEWSAYSTHATMAXIMIZINGATTEMPTINGTOFIND THEBESTDECISIONALTERNATIVESHOULDBECHOSENOVER SATISFICING(FINDINGADECISIONALTERNATIVETHATIS“GOOD ENOUGH”).YET,ITISNOTALWAYSTHECASE.REMEMBERTHATTHE PERFECTSOLUTIONSELDOMEXISTS,ANDASVOLTAIRESAID,“BETTER ISTHEENEMYOFGOOD.”ESTABLISHASPIRATIONLEVELS--VALUESOF ANATTRIBUTETHATYOUFINDACCEPTABLE--ANDTHENTAKETHE FIRSTALTERNATIVEYOUENCOUNTERWHOSEATTRIBUTEVALUES EXCEEDYOURASPIRATIONLEVELS. OLEKSIYNESTERENKO.STARTUPFINANCE PROVIDESTHENEEDEDFINANCIALANDSTRATEGIC INSIGHTTHATENABLESBUSINESSESTOTHRIVE. CONTACT US LOS ANGELES, CA 90024 +1 (310) 710 4248 INFO@OLEKSIY-NESTERENKO.COM HTTP://WWW.OLEKSIY-NESTERENKO.COM/

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