So today I want to talk you through how you make good quality decisions in a business. And to do this, what I do is I’ve got an acronym called BRAINO.
I know you probably heard of the one brain, but I put an O on the end. But I’m going to talk you through what “BRAINO” actually means.
So first, the “B” in Braino is benefits.
The R is risks,
the “A” is alternatives.
The I”” stands for instincts.
The “N” stands for what happens if you do nothing.
And the “O” at the end is what is my overall objective? So, Benefits, Risks, Instincts, Nothing.
And what is your overall objective? What does that mean? Okay, well, what are the benefits of the decision? That’s kind of obvious. What are the risks? Definitely obvious you, you are always trying to understand If the benefits outweigh the risks. So that’s important. What does “A” stand for then?
Well, it’s the alternatives. Like, you know, in any decision in business, there’s multiple ways to achieve your objectives. So you’ve got to pick the best of those ways and that’s what you’re considering there. What does the “I” stand for? It’s your instincts. A lot of the time you do have to still go with your gut sometimes. You can’t always let rationalism and logic override everything, there’s just some things that you know that you can’t always explain and you’ve still got to factor that in “N” – what happens if you do nothing?
Well, in decision making, actually sometimes doing nothing is making a decision in itself. Sometimes a problem can resolve itself if you don’t do anything, sometimes it can make things worse if you do something so, having it, deciding to whether to do something or nothing in the first place is actually a very valuable consideration.
And then objectives, I kind of think this should be called brain “A” because I’d say there should be a second A in here. But when I think about objectives, what I’m really thinking about is alignment is what you’re going to do aligned to your overall objectives in business? Is it you might decide to do something, you can do something really well and you can be efficient at it, but it might not be effective, cause effectiveness is about doing the right thing in the first place.
So, that’s how I make decisions in business and it’s worth jotting that down. Definitely, cause it’ll help you make really good quality business decisions. Okay. Well thanks for watching and I will see you at the next video.