Imagine you’re a contestant on Deal or No Deal.You're standing next to Howie Mandel, and there are five suitcases left.For luck, you picked the one Meghan Markle stood beside, and it holds $100, $400, $1,000, $50,000, or $300,000.The banker has just offered you $80,000.What do you do?Choose deal or no deal and I’ll share the math with you at the end of this email.The reality is most of life isn’t this clear-cut. It’s filled with ambiguity and uncertainty.The tough decisions are far squishier than your probability of getting the best financial outcome from continuing to open cases or take the deal. Some choices set the course of your life.We can further complicate the decision-making process when we are focused more on eliminating ambiguity than we are at making a good decision.I thought rather than continuing with my stories (I’ve got some more), I’d provide a format for your journal—a document to help you create journal entries for decision making.I attach the form to this email and is yours to use as you wish.You can use it next time you face a tough choice.Have you ever faced a decision and felt the pressure of a deadline to decide?By having a guide sheet, you become a better decision-maker.I include prompts like, how long do I have with no consequence to collect more information to make a better decision?This revelation separates winners and losers. Knowing that you have time or don’t gives you power.Most people are so focused on the uncomfortable feeling of ambiguity that they make a snap decision. A decision—good or bad relieves them from suffering under a cloud of ambiguity.You may think…“Why talk about ambiguity and uncertainty? Aren’t they the same thing?”Not in this context, Ambiguity is the emotional state you find yourself in, not knowing what to do.The act of deciding relieves the ambiguity. It may not result in a good outcome.After the decision, there still is uncertainty about the outcome.What we look to do with the decision-making system is give you a process to reduce your urgency to decide, relieve ambiguity, and increase the probability of the best outcome.Let’s get to the process.In the last email, I suggested you start a decision-making journal.If you journal already you can just insert my template into that journal when the days come for those big decisions.The template to guide you through the decision is at the bottom of this post.The act of completing the template is 80% of the decision-making process.Analysis of its contents is 15%, and the act of deciding becomes 5% of the effort.Rather than go through the journal template line by line, here is a video on how to use it.JoeP.S. Did you take the deal or not?Here is the analytics on the decision:If you total up the possible wins $351,500, the average is $70,300.The probability that your case is $300,000 is 20%.The likelihood that it’s not $300,000 is 80%.Four out of five of the choices are below $70,300.The banker offers a 13% premium above the average to step away from a one in five chance at winning $300,000.The prudent choice is to take the banker’s offer.But you just may be here for the action…And that’s what he wants you to get caught up in the emotion!The point of this is that most of your decisions are not as cut and dried, and you’re not under a time constraint to decide.Yet, we don’t go through any analytical process to evaluate all the outcomes or any second or third-order consequences.I just gave you a list of questions that would walk you through making an educated decision.It will help to reveal the emotions and probable outcomes of your big decisions.Will you decide to use it?

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