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Economtricks

Decision-Making and the Rest of Your Entire Life

I didn’t buy what the salesman and presenter was selling. At least not all of it. During his 90 minute “how to make a passive income online” speech, he spoke about decision making, and how good decision making abilities are crucial to being successful in this world, commercially and personally. “Fact is” he stated (almost […]

I didn’t buy what the salesman and presenter was selling. At least not all of it. During his 90 minute “how to make a passive income online” speech, he spoke about decision making, and how good decision making abilities are crucial to being successful in this world, commercially and personally. “Fact is” he stated (almost sympathetically), “people who have the ability to consistently make good decisions are wealthy. People who consistently make bad decisions are poor.”

So let me pause right here and suggest Smart Choices: A Practical Guide to Making Better Decisions if you think you’re teh suck at formulating rational conclusions in a short period of time.

Back to my story.

So the guy fished a five dollar bill out of his pocket. He said “The first person who places a loonie in the palm of my hand gets this five dollar bill.” Immediately, guests in the room began to jam their hands in their pockets and purses. A few people started walking up to the front of the room, including my daughter. She looked absolutely determined to get that fiver!


Another man got there first however, but instead of making the 5 to 1 dollar exchange, he got greedy. He wanted 10 dollars for a two dollar coin. It was somewhere during that short time span of 2-3 seconds that my daughter placed the dollar coin in the salesman’s hand and took the five. Done deal. The offer had expired. Everybody went back to their seats.


“You see how making a good decision can lead to profit?” he asked. “A five dollar bill for one dollar is a obviously good exchange, yet some people hesitated. Some people didn’t take an obviously good deal when it was presented to them.”


He’s right, you know. How many times have we all made excuses instead of money? The demonstration beautifully illustrated how there are determined people in this world (re: my daughter) who are ready to act now and take the opportunity while the rest of us collectively scratch our chins.

I left at the end of the seminar with my money still in my wallet, but I was sold on the importance of decision making.

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