Do you often struggle to
make an important decision?
Or do you frequently overthink the
choices you have to make in the future?
If these questions sound familiar, then
you might be dealing with a mindset known as “analysis paralysis.”
This can be a major issue where you find yourself overthinking… obsessing even…
to the point where a decision is never made.
So in this video, we will talk about analysis
paralysis and I will provide 7 actionable strategies you can use to overcome this mindset.
Now be sure to watch this video to the end, because I will talk about a free tool
you can use to make better decisions about your important long-term goals.
And finally, if you enjoy the content of this video, then please help us out by
taking a few seconds to hit the like button.
Let’s get to it…
What is Analysis Paralysis?
Some sources credit the concept of paralysis by
analysis to a theory introduced by Psychologist Barry Schwartz, called The Paradox of Choice.
In essence, Schwartz believed that a large assortment of choices lead to
greater feelings of anxiety, indecision, dissatisfaction and paralysis.
And when put in this position, people often aren’t able to make up their
mind without overthinking things.
Furthermore, the pressure of having
to weigh every possible outcome often results in a tendency to procrastinate.
Analysis paralysis can occur in almost any
situation. Some of the most common are:
* Investment and money management decisions
* Career opportunities
* School work
* Relationships
* Life-changing decisions
If you’re a fan of the “pro/con” list… chances are you’ve fallen victim to
paralysis by analysis once or twice.
So, if this mindset sounds familiar, then here
are seven strategies you can use to overcome it.
Strategy #1: Categorize your Decisions
If you are feeling overwhelmed by the list of decisions that need your attention, try
putting them into one of two categories:
1. Decisions that you need to make now
2. Decisions that can wait
Then you can break it down even further
with a few simple questions, such as:
1. How important is this decision?
2. How will this decision affect my next move?
3. What is the worst thing that can
happen if I make the wrong decision?
Here’s an example of how this would work...
Let’s say your boss has offered you a promotion, which involves a move from the
United States to Germany.
He needs an answer in two weeks.
Clearly, that is a decision you need to make now, so let’s see how you would answer
the three questions that I just discussed:
1. How important is the decision?
Factors:
* You have a wife and two children, ages 8 and 14
* You have a mom in assisted living nearby, who you are primary caregiver for
2. How will this decision affect my next move?
Factors:
* Your wife will need to give her job notice
* You will need to find a new school for
your children and start the transfer process
* You will need to arrange for extra help
for your mom, someone to take her places
3. What is the worst thing that can
happen if I make the wrong decision?
Factors:
* You will all have trouble adjusting to life abroad.
* Your mom may feel abandoned.
* You are unhappy and decide to
move back home after a year.
And there you have it.
The decision has been dissected for you.
All that is left to do is choose whether
or not to accept the worst case scenario.
So you have to just ask
yourself one final question…
Can I live with my answers to Question #3?
Whether your answer is “yes” or
“no”… consider your decision made.
Strategy #2: Worry About BIG Decisions
There are two types of decisions…
1. Big decisions
2. Small decisions
Just ask yourself if you, or anybody
else, will care about your decision in the next week… month… year.
If the answer is no, then it’s not a big decision.
In fact, there is most likely very little riding on certain decisions… so there
is no need to overthink many of your choices.
For instance, here are a few examples of small decisions:
* Which dress should I wear to my cousin’s wedding?
* Which type of food should I serve at my dad’s retirement party?
* Which brand of toothpaste should I buy?
And here a few examples of big decisions:
* Should I get married?
* Should I have children?
* Should I quit my job and start my own business?
So, whenever you’re faced with a small
decision, make the best possible choice and then use the bulk of your mental
bandwidth for bigger decisions.
Strategy #3: Embrace Mediocrity
One of the best ways to avoid analysis paralysis, is to tell yourself there is no
such thing as a perfect solution.
In fact, there are many occasions where an
“acceptable” solution will get the job done.
The stress of having to strive
for perfection is often a leading culprit behind paralysis by analysis.
But, every single decision has
its positives and negatives.
And trying to figure them all out in
search of perfection is time consuming.
So what’s the best way to avoid this?
We recommend you use the 80/20 rule, which was discussed in a recent video.
When applying this rule, you should focus on the handful of activities you do each week
that has the biggest impact on your life—whether you’re at work, at home, or enjoying a hobby.
No matter what tasks and obligations you do each week, there will always be a handful
that produce extraordinary results. A few strategies will work well, while
everything else will be a waste of your time.
So instead of striving for perfection, do your
best to focus on the activities that bring you the best results and ignore everything else.
Strategy #4: Eliminate Bad Choices
When faced with an important
decision, it is always a good idea to make a list of your choices.
But you know what is an even better idea?
Eliminate the bad choices.
The choices that won’t positively affect your decision in any way.
For example:
You want to lose weight.
There are many options out there.
Options like:
* Hiring a personal trainer
* Dieting
* Seeing a nutritionist
* Starve yourself
* Have weight loss surgery
* Download a fitness app
Do you see any bad choices you can eliminate?
I see at least one, possibly two.
Crossing these off your list will save you time and, thus, help you make your decision faster.
Strategy #5:
One of the biggest culprits behind analysis
paralysis is a concept known as Parkinson’s Law, which we also discussed in a recent video.
In a nutshell, this theory states that work (or in our case, decisions) will take as long
to complete as the time they are allotted.
If you allow yourself one day to
make a decision… it will take a day.
If you allow 4 hours to make a
decision… it will take four hours.
Obviously, bigger decisions should be given more
time, as there is bound to be some overthinking.
You’re only human.
Author Celestine Chua, a self-proclaimed authority on Analysis Paralysis, follows this guideline:
* Small decisions: No more than a few minutes
* Mid-level decisions: No more than a week
* Big decisions: As long as needed, although usually two months or less
In time, you will find what works best for you; but, keep this in mind…Spending more time
than needed means letting the decision take up more time than it is worth.
Strategy #6: Phone a Friend
If you find yourself stuck with a decision…
then you’re probably overthinking things.
Sometimes the best thing you
can do in a situation like this is phone a trusted friend,
colleague, or family member.
Perhaps you could talk to someone who is
familiar with what you’re trying to figure out.
For instance, maybe you want to take up jogging
and you don’t know which running shoes to buy.
After you’ve narrowed your choices down to a few
options, why not have a chat with your neighbor, an avid marathon runner?
Makes sense, right?
Strategy #7: Change Your Thinking
To be frank, you are your own worst enemy when it comes to overthinking.
And it likely all stemmed from childhood.
Think about it...
Maybe it was something as simple as your grandfather telling you to think long and hard
before spending $1.00 on a pack of trading cards… because then you wouldn’t be able to
buy that candy bar you’ll want later.
Or maybe your mom told you to choose only 1
of your 3 best friends to take to lunch and a movie on your birthday.
You had to choose.
And having to choose at such a young
age, albeit over trivial things, set the wheels of analysis paralysis in motion.
You were being conditioned as a child to think about every single decision as if
it were going to change your life.
And that just wasn’t true.
But when you’re a kid… you want it all. And not getting it all feels like the end of the world.
So you started overthinking things.
But you can end the cycle… now!
If you can channel how awful you felt then, you should be able to put today’s
decision making into perspective.
As they say, don’t sweat the small stuff… and
don’t give too much time to small decisions.
Now, as promised in the introduction
of this video, we have a FREE tool that can help you make better decisions
when it comes to your long-term goals.
On our blog, we have a printable PDF you can
use to implement Warren Buffett’s 25-5 rule, which will help you focus on
what’s important in life.
So, check out the link in the
description box to print out this sheet.
Finally, if you want to learn
how to create actionable goals, then click and watch our video that goes over
the SMART goal setting process with 21 examples.
