The Decision Tree โ€“ Making the Right Choice

The decision tree is a visual representation of the process of making choices and the result of those choices. It is mapped out like the branches of a tree. A decision tree can be short and simple, illustrating the two choices in a single decision process, or it can present a long sequence of interconnected choices that flow from one to the next.

To show you how it works, letโ€™s look at making a choice between two business opportunities.

You only have enough money to invest in one of them. Which will you choose?

Choice #1: A bakery ๐Ÿž

Choice #2: A pet accessory store ๐Ÿถ๐Ÿฑ

Putting your money into the bakery will earn you $10,000 while the pet accessory store will only bring in $7,000.

๐ŸžSeems like the bakery is the obvious choice – for now.

But what if the bakery fails? You stand to lose $8K. O the other hand, if the pet accessory store fails youโ€™ll lose only $4k.

๐ŸžWith the bakery. you can earn more, but you can also lose more.

To run the bakery, you have perishable goods. With a pet accessory store, your inventory can be on the shelf for months.

Seems like the bakery is riskier. ๐Ÿถ๐Ÿฑ Maybe the pet accessory store is better.

Finally, to operate the bakery you have to wake up at 3 AM — every day! Is that the life you want?

All choices have consequences and some of them are not clear cut or obvious.  If you make a decision too soon without seeing where the decision tree ends up, youโ€™ll be making an uninformed decision, and likely regret it later on.

In every situation you face, there is a decision tree you can create to help you see your way to the end result โ€“ so long as you keep your mind open and free of impulsivity.

I hope this brings you value. If you want to know more about Mind Focused Coaching, please join us at The Mental Wellness Society Group.



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