What do we do when we are faced with two mutually exclusive strategic choices? How do we decide on the best course for our future when it seems like both will work?
The easy answer is to identify which choice brings you closer to your envisioned future. It’s certainly the answer we prefer. The logic tracks. It’s elegant. And most of all, it’s simple enough to make us feel secure about the choice.
What we don’t consider is that the accuracy of this approach is dependent on how well defined our desired future is and how clearly we can plot the course from one choice to our intended destination.
Perhaps the biggest mistake we make is that once choice will determine the far ahead future. It turns out it’s more likely a series of choices all leading us down a particular path. We have the choice to change our minds to affect the final outcome at every decision, not just this one.
It’s worth noting, that some decisions increase the levels of commitment to a chosen course. Such decisions should be flagged and monitored to avoid undue influence in future decisions.
Sunk costs are sunk. No point increasing the commitment on a ship beneath the waves.