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I know that content marketing works, and that often includes blogging. So naturally, the decision can become “Should we blog more or should we not?” That’s a single decision-making process, which, as it turns out, is not the best way to make decisions, Erik Larson of Cloverpop told me on Episode 685 of “The Business Storytelling Podcast.” And of course, just because I like the strategy that doesn’t mean that blogging is always the answer to every marketing problem.
Erik, an expert in decision intelligence, says that this approach – jumping to a single decision – isn’t the way to go. In fact, it’s a common trap that many of us fall into, and it could be holding us back from making better choices. Let’s dive into why considering multiple options might be the game-changer we need in our decision-making process.
The single-choice trap
Erik points out that a whopping 92% of business decisions are what he calls “single-choice” decisions. Now, what does that mean? Well, it’s pretty much what it sounds like. Most of the time, when faced with a decision, we come up with one solution and then put all our energy into convincing others it’s the right way to go.
Sounds true to me. How often have you been in a meeting where someone presents an idea, and the rest of the time is spent discussing that one option? It’s a common scenario, but Erik suggests it might not be the best approach.
This single-choice mindset has some pretty significant drawbacks:
We’re looking at the problem through a narrow lens. By focusing on just one option, we might be missing out on some fantastic alternatives.
We’re potentially leaving opportunities on the table. Other solutions might offer benefits we hadn’t even thought of or address challenges we didn’t realize were there.
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The power of considering alternatives
Erik’s research shows that simply considering more than one option can have a massive impact on your decision-making outcomes. Let’s break down some of the benefits.
By considering just one additional alternative, you can reduce the likelihood of your decision failing by six times.
Decisions made after considering multiple alternatives are 30% more likely to exceed expectations. So not only are you less likely to fail, but you’re also more likely to knock it out of the park. Who wouldn’t want those odds?
Another approach Erik recommends is using a decision intelligence platform – like Cloverpop. The key is to find a tool that helps you systematically record and analyze decisions.
These platforms can be game-changers. They allow you to track the alternatives you considered, the reasoning behind your choices, and the outcomes of your decisions over time. It’s like having a decision diary for your organization.
Speaking of tracking decisions, Erik emphasizes how important it is to keep decision records. He points out that most executives he’s talked to can’t tell you how their last 50 decisions went. They might remember a few, but the rest? It’s all a blur.
This is where decision records come in handy. When you record your decisions, including the context and the alternatives you considered, you’re creating a valuable resource. It becomes easier to understand why certain choices were made and what impact they had over time.
But it’s not just about looking back. These records allow organizations to learn from past decisions and continuously improve decision-making processes. It’s like having a roadmap of what worked, what didn’t, and why.
Implementing these strategies isn’t just about improving individual decisions. It’s about changing the whole conversation around decision-making in your organization.
Imagine walking into a meeting where, instead of someone presenting their idea and looking for approval, the discussion starts with, “Here are three different approaches we could take.” Already, you’re in a different mindset. You’re exploring options, comparing pros and cons, and engaging in a much richer discussion.
This approach also helps to combat some common decision-making pitfalls. When you’re considering multiple options, it’s not just about confirming your initial idea. You’re also more likely to spot potential issues or opportunities that might not have been apparent when focusing on a single option.
Making it a habit
Of course, changing how an organization approaches decision-making isn’t something that happens overnight. It takes time and consistent effort to make considering alternatives a habit.
Erik suggests starting small. Maybe begin with just one team or one type of decision. As people start to see the benefits – fewer failed initiatives, more innovative solutions, better outcomes overall – the practice is likely to spread.
The goal isn’t to make decision-making more complicated or time-consuming. In fact, considering multiple alternatives can often streamline the process. You’re front-loading the work, exploring options thoroughly at the beginning, which can lead to smoother implementation and fewer surprises down the road.
The ability to make good decisions quickly is more crucial than ever. But as Erik’s insights show us, “quick” doesn’t have to mean “single-choice.” By building the habit of considering multiple alternatives, you can dramatically improve your decision-making outcomes.