10-minute decision making

-
I was on a blogging hiatus as my laptop broke down (after a good 7 years) and I procrastinated on shopping for it. I could have blogged on my phone, but... I just like the feeling of typing on a physical keyboard. Speaking of quirks lol.


Today I purchased my second Acer laptop (hope it will last for at least another good 7 years), an Acer Aspire 5. It was a 10-minute decision on the spot. Just last week when I popped by the computer store, I was hesitant in making a purchase. So why the quick decision this time round? It boils down to one thing - I haven't gotten my criteria list ready the week before.


It could be a breeze for one to do a one glance, "love at first sight" pick, or to click on the Buy button, then take out his favourite credit card to foot the bill. A fulfilling shopping process to me, however, takes time. Erm or should I say waste of time. Because when I window-shop, I usually don't buy things.


The outcome of a 10-minute buying decision hinges on the criteria of the set intention. For example in the above, my intention was to buy a personal laptop. But but but... as I looked around the first time - everything was chic, the online and shop promotions all seemed like very good deals and I desperately needed to grab something. Ok, now hold on.


Does that sound familiar?

Doesn't the same applies to choosing a life partner? Doesn't the same applies to "shopping" for the right stocks? 


However, I held back from the purchase and decided to check back another day because my criteria simply weren't clear enough.



To be able to make a quick and good decision when the opportunity comes, we need to have our criteria list ready. 10-minute decision making isn't about how fast our brains process information, it is a state of readiness. The state of readiness stems from the criteria list and it need not be something that we come up with only when we are 'desperate'. It could be a cumulative list that we build slowly over time, through experiences and through research. So that when a good deal comes along, we will snap our fingers as we instinctively know THAT is exactly what we are looking for. 


To me, a good criteria checklist should have 3 "must-haves" (of high importance) and the rest as "good-to-have". Why just 3? Because when there are too many "must-haves", it can lead to too limited choices for us to pick from. On the other hand, too few "must-haves" and we will not end up with what we actually want.

--


A couple of quotes to end my post.
"Successful business people are quick to make up their mind, and slow to change it.  They stick to their decisions and follow through. Unsuccessful business people sit on decisions indefinitely and ultimately miss out on amazing opportunities because they didn’t take action."

"Men who succeed reach decisions promptly, and change them, if at all, very slowly. Men who fail, reach decisions, if at all, very slowly, and change them frequently, and quickly. Indecision and procrastination are twin brothers. Where one is found, the other may usually be found also."
- From Think and Grow Rich
***
Check out my Blog Archives here for previous posts

Comments

Post a Comment

Popular posts from this blog

Shit happens and I lost my low-hanging fruits

-
My SAYE account has just hit its 25th month anniversary which is also the "month of maturity". Anticipating to get the 3.5% bonus interest for all these months of saving, I was shocked to see only $17+ cash gift credited as opposed to a few hundred dollars. I was about to send a message to query the bank what caused this interest plummet versus what I got in the 13th month when I came across a debit transaction in my account history (GASP!). To my oblivion and horror, I have accidentally selected my SAYE account to transfer $50 to a joint account to foot some bill in one of the months last year. Here's the terms and conditions for those who are not familiar with the SAYE account of POSB. "To receive the additional 3.5% p.a. Cash Gift Interest, ensure that you do not make any withdrawal from your POSB SAYE account." "If a withdrawal is made in the month, this will result in the previously accumulated additional 3.5% p.a. interest to be forfeited." Damn.
Read more

Letters of Administration / Probate - DIY application

-
Image
It's been almost 2 months since my mum's passing. I have not had the mood to blog as there's simply too much for me to settle - both tangible and intangible stuff.  For the first month, there's like a void in my life that I couldn't get used to because I was so used to the daily routine of taking care of her. It felt like a boulder lifted off my shoulder, as I was near breaking point; but this boulder was not gone, instead it shifted to my heart. The passing was sudden but not unexpected. My mum's condition deteriorated rapidly after her last fall, which led to hospitalization, and every hospitalization made her more frail. On the last discharge she could barely sit up in bed. My mum  did not leave behind a will  because she did not see a need to at that time when she still had a clear state of mind. Without a will, I would need to apply for the Grant of Letters of Administration (instead of a Grant of Probate ) in order to administer her Estates. (Note: If ther
Read more

Success in life

-
Image
Different levels of our life and career Level 1 - Aimless You have no earthly idea what you're doing or where you're going. You have no direction. Level 2 - Stuck You can envision yourself doing better but can't seem to get out of a rut. You might work hard but experience very little progress. Level 3 - Coasting You are going through the motions. Your life is on cruise control. You do what you have to do to survive. Level 4 - Developing You are steadily growing. You've had incremental improvements over the past few years, and your relationships and career have excelled. Level 5 - Thriving You are operating in your sweet spot. You don't have to do anything. You get to do everything. Level 6 - Mastery You are doing so well that you're in a place to help others do the same. from  "Leveling up" by Ryan Leak I came across the above while browsing IG and it made me reflect on how success in life and career is defined. Which level am I at now? In my early 30s
Read more

Reflections for year 2023

-
Image
2023 is a year which I have relented to the inevitable dealing with adversities. Sending my mother in and out of hospital had become a norm. Being a healthcare professional, I thought I could handle it single-handedly well enough, not until the point when my mother ceased to be fit enough to attend dementia day care that I came to the conclusion that I needed a helper. However, things took a steep downhill turn before I could hired one (counted myself lucky for it). My mother passed away in June, it was a relief for me and probably a relief for her as well. However, life is not meant to be smooth-riding. My mother did not leave behind a will, thus I have to apply for the Letters of Administration with the Court and as my sibling has mental disability, this led to some complexities which have yet to be resolved. Instead of hiring a lawyer, I decided to apply the LOA and MCA orders by myself through the Service Bureau. I am paying my time and convenience for it but that's fine as I
Read more

Inflation pain

-
Image
Inflation is when Pepper Lunch stops giving complimentary soup, Korean dishes stops giving complimentary kimchi side dish, McChicken goes from $2 to $2.95 and to $3.25, and a 1-meat-2-vegs cai png now costs $6.50 (cos 三层肉 is considered special @$3). 😩 My $6.50 cai png which tasted meh Paying more is the trade-off for convenience. Buying stuff to cook at home would be cheaper. However, for a single person meal, it seems a waste of time, water and electricity. Food is about the only thing that made me feel inflation is overboard as the price increases are in double digit percentage. GST is going to hike to 9% next year, it's likely that we'll see another round of staples' price hike. Yikes! It's time to recalibrate my expectation on the prices of goods and services so that I won't feel so much pinch. It's also time for me to review my portfolio which is pretty much in red from the REIT price slump. With prices going up due to shortage of resources, it
Read more

Disclaimer:

The contents of this blog are author's personal opinions and do not constitute advice to hold, buy or sell any securities, commodities or assets mentioned. I do not guarantee the accuracy and reliability of any information provided, and shall not be liable for any losses incurred from reading my posts or using the materials herein. This blog may contain affiliate links to external sites.