Do you double down on bad decisions?

We have to make decisions without full knowledge all the time.

We use the best of our rational mindset to make those decisions, but often we don’t know.

We’re just making the best assumption possible based on what we think will have the highest benefit.

However, something interesting happens when it becomes a lot less feasible to stick to those decisions.

In these moments, we don’t have any more knowledge about the right decision than in the moment when we made it.

But, when we made the decision, we said it was because of the benefit we assumed it would have.

Even though it might be a lot less feasible to make happen than we first assumed, we now feel like it’s much more necessary because we’ve already convinced ourselves once.

We double down.

We’ve already committed to the decision and we definitely do not want to admit that we were wrong.

This is your ego talking.

If you didn’t know the first time, it’s ok to admit that you still don’t know.

It was only an assumption.

You need to be able to rationalise the decision again and, if the extra effort isn’t worth the potential benefit, you need to be able to cut your loses and move on.