Then I discovered a technique called ten seclusion matrix that revolutionized my decision-making process. Now, I use it to make important decisions like: Which vacation location to visit Which candidate to hire for a Job Which Job offer to accept Which apartment to rent Which software to purchase Whether to lease or purchase a car You can use the decision matrix to make any decision you face in your personal or business life. You can use it alone, with your partner, or with a business team. The only limit to how you can harness the power of the decision matrix is your own imagination.
If you have an important decision to make and you want to reduce or eliminate the chances of second guessing yourself later, you should try the decision matrix. Page 3 of 20 The Benefits Here are some benefits you can expect from using the decision matrix: You understand how and why you choose one option over another. Your decision fits with your priorities. You evaluate each option on its own merit without directly comparing it to other options. You use logic rather than emotion to make the decision. You get a chance to think about what you really want. Why Not Use Pros and Cons?
Many people do a list of pros and cons when making decisions. I think that is always a bad idea. Here’s why. When you take the time to make list of the cons for each option, you make a list of the things you don’t want for the option you end up choosing. I don’t know about you, but I’d rather not fill my head with all of the things I onto want about the choice I’m about to make. Staying focused on the benefits of each option seems like a smarter and happier way to live. Perfect Decision Every I Mime Page 4 of 20 Decision Matrix Process The decision matrix process is simple. 1 . Define your ideal solution.
Spend a few minutes thinking about the ideal solution. How does it look and feel? Try it on for size. Make a list of the key characteristics for your ideal solution. 2. Set Your Priorities. Which of these characteristics of your ideal solution are the most important? Assign a weight (percent) to each key characteristic. The weight establishes your priorities. . Assign The Points. Evaluate each option and give it a raw score for each key characteristic. You look at each option by itself and rate it according to how it meets your key characteristics. 4. Calculate the weighted scores.
Use the raw score and the key characteristic weight (percent) to calculate a weighted score. This combines the facts from your option with your priorities for the decision to give you an objective measurement. 5. Add up the total scores. Add up the weighted scores to get the total score for each option. The option with the highest score is closest to your ideal solution. I’m going to walk you wrought using the decision matrix to decide on a family vacation destination so you can see how to perform each step. Decision Matrix Forms The decision matrix can be done on a scrap piece of paper.
But because I use this so often, Eve developed and refined a form that I use to collect the information. To help you out, Eve included both a blank form, and one that Eve filled in for the vacation example for you to follow along. They are located near the back of this eBook. Page 5 of 20 Step 1: Your Ideal Solution Before you can start evaluating options, you have to know what you want. Sometimes, figuring out what you want is he hardest part of making any decision. Give yourself plenty of time for this step. Get a cup and a tablet and brainstorm. Jot down your ideas. You can pretty up the list later.
For our vacation example, here are some things you might consoler to De ten Key counterblasts AT your Ideal vacation. Warm climate A beach or other swimming and sunbathing option Someplace where they speak English (since you only know English) A great cultural experience, not Just museums, but different foods and a different lifestyle Recommendations from friends or high ratings on review websites rather than going in cold Something that fits into your vacation budget Kid friendly Someplace where the travel isn’t a hassle (because of the kids) If this isn’t your idea of the perfect vacation, Just play along.
From this example, you will learn how to use the decision matrix for your own choices. Page 6 of 20 Step 1: Define Your Ideal Solution The Key Characteristics After you make your list, review it with your partner and incorporate her expectations of the ideal vacation. This is the time to compromise and negotiate a solution in very general terms. In the end, your list looks like this: To make the decision process as simple as Seibel, you should keep your list short. Somewhere between five and eight key characteristics is ideal.
A swimming option. An indoor pool is okay, but being at the beach is ideal. English is spoken. Or, English-speaking tourists are welcome. Rich cultural experience. You want some place that is not like home and not a tourist trap. You want recommendations. Information from friends is ideal, but good online ratings are okay. Walton Tugged. You nave some Tattletale would prefer to come in under budget this year. Kid friendly. Either visit a kid-friendly location or have great kid activities available most days. Minimal travel hassle.
Less than a day of travel each direction is ideal. You don’t want to be exhausted during the trip or after you get home. Write in these key characteristics in the Key Characteristics Ranking table. That’s the first table on Decision Matrix form. Eve filled it in for you in the example form. Page 7 of 20 step 2: Set Your Priorities As you develop your recipe for the perfect vacation, you know that some characteristics are more important than others. To reflect your priorities, you rank your characteristics in order of importance and assign a weight to each one.
To weight your characteristics, you assign a percentage to ACH one. The weights for all characteristics add up to 100%. Working The Vacation Example In this vacation example, you have seven characteristics. With seven characteristics, the average weight for each one is about 15% (100% divided by 7 characteristics equals about 15%). This number (15%) gives you a starting point for your weighting process for your seven vacation key characteristics. Some get a higher weight, and some get a lower weight. Of course, you don’t want to weight each option at 15%. Why not?
First, because it adds up to more than 100%. And second, because everything doesn’t have the same priority in our ideal vacation recipe. Page 8 of 20 step 2: set Your Powerless Pick Your Top Priorities You and your partner sit down and discuss how important these are for each of you. Here’s a hint: start with the most important characteristics first. You both agree that staying within your budget is the most important thing, so budget gets the largest percentage (weight). If the average weight (in this example) is 1 5%, you decide that the budget is worth 25%.
Your second priority characteristics is kid friendly, and that is almost as important as the budget, so you weight it at 20%. After some discussion, you decide that a great ultra experience is the next most important, and you weight that at 15% based on the weighting of the other characteristics. Here’s what you have so far: 1 . Budget 2. Kid Friendly 3. Cultural 25% These characteristics use 60% of your weight, leaving you only 40% to distribute between the remaining four key characteristics. You can adjust the weights at this point if that doesn’t seem like the correct balance.
Page 9 of 20 Step 2: Set Your Priorities Complete The Priorities After some further discussion, you decide on the weighting for the remaining items. Your key characteristics have the following weights: The next time you use the echelon matrix to condos your vacation destination, you may assign different weights for the same key characteristics. Or, you may use different key characteristics. 2. 3. 4. 5. 6. 7. Budget Kid Friendly Cultural Travel English Ratings Swimming 5% After you complete the weighting, you should review your list and do any fine tuning.
These weights drive the process for evaluating your options, so you should be very happy with them before moving on. Add the weight for each key characteristic in the Key Characteristics Ranking table. Next, fill them in at the top of the Decision Matrix table in weight order (highest percentage first). Eve done this for you in the example forms. Page 10TH 2 step 3: Evaluate Your Options Roll up your sleeves and get ready to work. In this step, you research each option so you can rate it according to each of your key characteristics.
You give each option a rating from 1 to 10 based on how well it meets the characteristic, with 10 being the perfect fit. In our vacation example, you have some ideas of where you might want to go on your vacation. Some of them may be new places, and others may be places you have already visited. Here’s the short list of possible destinations you have to evaluate: Disneyland Mexico (Rocky Point) Santa Fee, New Mexico Camping in the Redwoods (California) You must research each option thoroughly, including costs, travel options, and the other key characteristics you identified.
You know intuitively that Disneyland rates high on kid friendly and low on cultural experience. The decision matrix calculates a score so you can see how Disneyland really measures up to your ideal vacation in objective terms. Page 1 1 of 20 Step 3: Evaluate Your Options Assign The Points Think of the ratings as points on a sliding scale. Start with 5 as the average. Decide in advance what the average rating for each characteristic means. This way, you make sure that you evaluate the options fairly and objectively. Don’t be afraid to use the full range of numbers available for rating each characteristic.