Below is a list of the most common decision-making mistakes. By learning about these pitfalls now, you will be able to avoid them in the future.

• Relying too much on expert information. Sometimes we place too much emphasis on what "experts" say. Remember, experts are only human and have their own set of biases and prejudices just like the rest of us. By seeking information from a variety of sources, you will get much better information than if you focused all of your energy on only one source.
• Overestimating the value of information received from others. It's not uncommon to overestimate the value of certain people's opinions while undervaluing others. For instance, experts, authority figures, parents, high status groups, people who seem to have it all together, and people we respect have a way of swaying our opinion based simply on the fact that we believe they know more than we do. When you find yourself doing this, ask yourself: Does this person know as much about this problem as I do? Are their values in line with mine? Have they had any personal experiences with a problem like mine? In other words, keep their opinions in perspective.
• Underestimating the value of information received from others. Whether we realize it or not, we also have a tendency to discount information we receive from individuals such as children, low status groups, women (yes, believe it!), the elderly, homemakers, blue-collar workers, artists, and so on. But these groups can offer valuable perceptions and may be using different values to evaluate a problem. Listening to their opinions can give you a broader perspective. Just make a note that if you find yourself discounting the information you receive from anyone, make sure you ask yourself why.
• Hearing only what you want to hear or seeing what you want to see. Try this exercise. Ask a friend to look around him and make note of everything that is green. Now, have him close his eyes. Then ask him to tell you what around him is red. Almost everyone you ask will not be able to tell you what was red because they were focusing on what was green. Our perceptions work the same way. If we have expectations or biases that we are not aware of, we tend to see what we want to see. Likewise, if someone tries to tell us something we do not want to hear, we simply do not hear them. This is a common mistake. The key is to be aware of your own prejudices and expectations while at the same time staying open to everything that comes your way.
• Ignoring your feelings or gut reactions. Have you ever made a decision only to have it be followed by a major stomach ache or headache? This is your body talking to you. Our brains are constantly taking in more information than we can consciously process. All of this extra information gets buried in our subconscious. Although we may not be able to retrieve this information, our body stores it for us until it is needed. In moments when we need to make a decision, our bodies provide clues to the answer through feelings or gut reactions. Unfortunately, our society teaches us to ignore these feelings, but by tuning into your intuition, you will find that you will make much better decisions in the long run.

References:
• Small Business Administration

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