If you think back, you will realize that where you are today, is a result of some choices you made yesterday.
Some of these choices were made accidentally, but some were made consciously by you.
Now, there is little you can do about the choices you made yesterday, except learning from them, but you still have a choice to make today, and lots of choices to make tomorrow.
These choices will define what you will become, so the critical question is: how do you make the right choices most of the time?
- How do you decide whether to buy this or that?
- How do you decide whether to start this business or that business?
- How do you decide whether to invest in one asset over another?
In my years of working with youths and young entrepreneurs, I have noticed that most young people suffer from indecision and the inability to make wise choices.
Today, I’ll love to share a wonderful formula for making choices based on my own personal experience.
And before I share this formula, let me quickly remind you, that no one is infallible when it comes to making choices, unless you have a supernatural ability to see the future!
To demonstrate this, I will use a personal example:
Several years ago, I got an investment offer from a friend. The investment looked amazing on paper, but I wasn’t too convinced, so I did my own research.
After months of careful research and market survey, I arrived at a similar conclusion, but I have this uncanny ability to sense when something is not right. I believe everyone also has this ability just that most people don’t listen to it. I sensed something was off about this opportunity, but I went ahead to invest over N10Million in it.
Three years later, the investment managed to return almost the same amount of money I invested in it. From a business point of view, it was a failure but I was glad I didn’t miss the opportunity, first because I didn’t lose completely, second because I learned massively, and thirdly it opened the door to a greater opportunity.
Now, the same year I made that investment, I stumbled on a tiny business opportunity.
The startup capital was quite low, less than N200,000.
Now, everyone I asked, told me to stay clear from the business.
However this time, my gut instinct was very strong… positively. So, I went ahead and invested in the small business.
In about 2 years, that tiny side-business, yielded roughly N15Million in revenue, most importantly, it barely takes my time, as someone else controls it, yet it continues to yield little income for me daily.
I share this personal experience, so you know that the formula I am about to share with you, does not guarantee a life without mistakes.
However, it guarantees a life without regrets. It ensures that while your end result may not always be what you expect, it will always be satisfactory.
And here is the formula:
Whenever you are presented with a choice, ask yourself which option you would prefer to have taken in ten years.
- In 10 years’ time, will I regret not buying this land?
- In 10 years’ time, will it matter whether I sell my car today or not?
- In 10 years’ time, will it matter whether I invested this money or not?
- In 10 years time, will I regret not going back to school today, or not learning this particular skill?
A simple exercise of asking yourself which option you would prefer to have taken in ten years’ time, can help you avoid succumbing to temporary temptations, and also help you in making a much better choice, by considering the future.
We are normally wired to satisfy short-term desires, like buying a new car, shopping, etc… but enduring success requires the ability to delay instant gratification, and the discipline to consider your future life.
Try this formula when next you are faced with any kind of choice, and I guarantee that your quality of life will begin to improve dramatically.
Engr Emma Okoro