Investing In Real Estate: 5×5 Decision Making System
Posted by ericmedem | Posted in Wholesaling Real Estate | Posted on -05-2008
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Being in the real estate wholesaling business I have learned alot of things and this is one of them.
In order to change your life, you must first change the decisions that you make a daily basis. Poor decision making can account for up to 99% of your current position in life. In order to make better decisions we must first identify all of the decisions that we have made that have gotten us up to where we are today. Without knowing the good and bad decisions that we have made it will be nearly impossible to change our lives.
So why do you make so many bad decisions? One of the main reasons for our complete lack of decision-making ability is that our minds are preprogrammed for short term pleasure. Short term pleasure does not necessarily mean that we enjoy what we are doing. Short term pleasure can be derived simply by thinking that what we are currently doing is easier than our other alternatives. The funny part is “easier” does not always mean easier either. Short-term easy often means less effort or less immediate pain. To make things even more complicated “pain” does not always mean pain either. Pain is far too often thrown into a group with performing the unknown. It’s funny how many people would much rather have a painful “known” thing happen rather than commit to a wonderful “unknown”.
One of the tools that I have developed to get around our poor decision making skills is called the 5×5 method. Whenever you need to make a decision ask yourself 5 simple questions.
1. How will this decision impact my life 5 minutes from now.
2. How will this decision impact my life 5 hours from now.
3. If I keep making this decision, how will it affect my life 5 weeks from now.
4. If I keep making this decision, how will it affect my life 5 months from now.
5. If I keep making this decision, how will it affect my life 5 years from now.
If you can derive a positive answer to all of those questions then you can rest easy knowing that you have made a good decision.
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