An interesting question was recently posed in a group for entrepreneurs. It may not seem like a data-related question, but in truth, it speaks more to the need of data than I think even the questioner realized.<\/p>\n\n\n\n
If you are not comfortable with your mentor’s strategy or style of trading what will you do?<\/em><\/p><\/blockquote>\n\n\n\n
On the surface it seems like a mentorship question, right? Maybe a question for a life or business coach? There is a deeper lesson here I’d like to explain.<\/p>\n\n\n\n
How do we make decisions?<\/strong><\/p>\n\n\n\n
Without a clear set of instructions to follow, how do you decide whether to go left or right, take this action or that, choose one or the other?<\/p>\n\n\n\n
The answer may surprise you; all decisions are based on emotion<\/strong>.<\/p>\n\n\n\n
According to studies in biology, psychology, and neuroscience, the part of the brain that regulates emotions, is also responsible for decision-making, and has no capacity fort language.<\/p>\n\n\n\n
I won’t go into the science, (you can look it up on your own, plus I’ll share a video at the end of this article though), but it means that no matter how much information we have or don’t have, are based on emotion.<\/p>\n\n\n\n
Just knowing that should change the way you operate, because if every decision is largely based on emotion, the only real factor you can control is just how informed your decision-making will be<\/strong>.<\/p>\n\n\n\n
This makes the need for data extremely important; not just in business, but in all aspect of our lives.<\/p>\n\n\n\n
In other words, assuming good data, the difference between a good decision and a bad decision is how much data you have, and to what degree you let the information influence your decision.<\/em><\/p>\n\n\n\n
This is why “trust but verify”. I try to never assume data is good as face value, and I always attempt to do my own research, even if it is to verify a claim being made; even if it comes from a trusted source like a mentor.<\/p>\n\n\n\n
That should apply for politics, health, business, relationship and every other facet of your life where a decision has to be made.<\/p>\n\n\n\n
That said, here’s how I answered that question…<\/strong><\/p>\n\n\n\n
My answer was, “I’d do it anyway, provided it’s not unethical or illegal<\/em>.”<\/p>\n\n\n\n
The reasoning for my answer was this. If I am seeking a mentor, it is because I am looking to change, learn, or grow. None of those things are often comfortable, and oftentimes bring about their own challenges.<\/em><\/p>\n\n\n\n
Being coachable is a requirement of being a mentee, so if I’m not going to listen, then what’s the point.<\/em><\/p>\n\n\n\n
If the advice doesn’t work, then I find someone else, but I won’t know if it works or not if I don’t actually do it.<\/em><\/p>\n\n\n\n
Most people said to the effect, change mentors or find someone else. The problem is that the decision was based solely on the fact that they were uncomfortable.<\/p>\n\n\n\n
Pure emotion. Now, what if the advice was sound?<\/p>\n\n\n\n
What if applying the information led to your business making more money? What if it led to you having a happier relationship? What if it led to you losing the weight and being healthier?<\/p>\n\n\n\n
If you made the decision based on how comfortable you are, you would have lost out.<\/p>\n\n\n\n
The reason why I would have done the work anyway was because I want the information to shape my decision. Does the advice work or doesn’t it? I’ll never know unless I do it.<\/p>\n\n\n\n
I know for some reading this post, the advice would seem elementary, but it’s not always easy to follow in practice.<\/p>\n\n\n\n
It actually takes a bit of self awareness to pay attention to your emotions, and it is something I practice.<\/p>\n\n\n\n
Hopefully knowing that all decisions are largely based on emotions will help bring out your own awareness. You never know where it can lead.<\/p>\n\n\n\n
As promised, here’s that video I mentioned. It’s not about data specifically, but it does describe the biological case for decision-making and how it affects other aspects of business.<\/p>\n\n\n\n
Sounds boring, but I promise you. It’s not, (at least to me).<\/p>\n\n\n\n