WHAT THE EX­PERTS SAY

NZ Lifestyle Block - - Feature - Source: Meet­ing the Chal­lenges MAF (2008)

“SOME DE­CI­SIONS will turn out to be wrong, but more will be right than wrong. Fur­ther­more, recog­ni­tion that a de­ci­sion was wrong will of­ten re­veal an op­por­tu­nity. For ex­am­ple, quit­ting stock just be­fore rain falls may be viewed as a wrong choice (al­though it was the right one to make at the time), but one which could open a raft of op­por­tu­ni­ties, such as buy­ing in trad­ing stock, tak­ing on graz­ers, al­low­ing pas­tures to re­cover, and/or im­prov­ing the per­for­mance of the re­main­ing stock.

Stud­ies show high in­come earn­ers have fewer re­grets about de­ci­sions made than av­er­age earn­ers. This may be be­cause they al­ways make the right de­ci­sions, or more likely, be­cause they don’t dwell on the wrong ones.

Making early de­ci­sions is more likely to re­sult in bet­ter per head per­for­mance and bet­ter profit than not making a de­ci­sion un­til be­ing forced to by cir­cum­stances, when no choices re­main.”

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