We are humans and emotions control our lives. But, in the professional context, emotions and emotional decisions can destroy everything.It is not asked from you to don’t have emotions, because this is our nature. But, we need as financial decision makers to control our emotions before taking any decision that can define the future situation of the company.
Also, as a manager or any decision maker, your success depends on how you manage your financial resources. Which mean that you need to take the right decision no matter what. From this article, we will give some techniques used by the most successful leaders, that will allow you to control your emotions when you are taking a decision.
The first thing to focus on, as we say always is to have a clear plan. Follow your plan even in tough times and try to update this plan in crisis time.
Also, you must know the right time to take a step to the back. Especially, on the markets that fluctuate and flows: The economy, the real estate market, the stock market, consumer demand…etc. You must know the right time to make decision of selling or buying.
“One day you’re winning and making a lot of money, the next day you don’t seem to be able to put a foot right. It’s also a game of fine lines. One mishap here, one misjudgment there and you can go from what ‘should’ have been a highly profitable day to a big losing day,” explains Net Picks, a leading online trading system.
Koh Poh Tiong, one of successful leaders said that leaders must have the skill of emotional balance and calmness. Even in crisis times, which mean that you need to take a deep breath and think slowly. In order to make the right decision, don’t ever hurry to decide.
In addition to that, the change may be also a great solution. Try always to avoid bad situations that make you uncomfortable or choose the right people to do it.
The right people can be also, an efficient way of dealing with problems and calmness. That why you need to choose carefully you team.
Finally, try to establish a financial goal, that allow you always to be on track and check every period.