One of the biggest challenges for online entrepreneurs of any type is how to make good decisions. Now, the biggest enemy in your business is your heart is your feelings. A lot of people make decisions based on their feelings they live that life being driven by their feelings. And when you're an online entrepreneur, that is the worst way to make a business decision because the HA, which has its own neural network, recent scientific studies revealed the heart to send broadcast loud signals to the brain to actually map this. This they send signals to the brain. And those signals are just so powerful and strong and direct.

Oftentimes our mind will run with those feelings With those emotions, and we will make decisions based on data, the heart is telling us but the heart doesn't differentiate between a lion in a cage and a line outside of the cage, when you see when the heart will have a fear response to both. So, the heart also accumulates all your lifetime data, all the lifetime experiences and when you go into a situation, it will look at the history of your emotion. And it will basically plugins are all those emotions that go back over your lifetime from when you was very little, and based on all those experiences, it will take accumulated emotional response to that situation. And it will create a decision based on that so it doesn't even take what's in front of you. So for instance, how you Deal with another individual, you might associate them with a group of people that you did not like going back in a chain.

So when you have an emotional response to that person in business, you're having a motional response, those people may be negatively affected you in your life. So in accumulate history of emotion builds up, and now you make a decision based on that. And that's where bad decisions come from. in business. When you're making a decision based on how you feel about something, you're pretty much heading on a path to disaster. So what we have to do is we have to learn to start examining data, we have to start looking at data outside of ourselves.

We can't rely on the heart and it's very simple basic neural network. There's some great scientific studies out there on this at the moment guys really interesting go and have a look at it because it helps you to understand how you operate. We can't use that as our absolute standard as our absolute authority for decision making. So we have to examine data that's independent of our feelings. We have to be objective, we have to realize that we are not the absolute standard of truth that our experience isn't truth. This is a really, really important point.

We are not the objective standard, the objective standard is exterior to us. So when we're making decisions, as an entrepreneur, we have to distrust our heart and sometimes our faults and failures because we're making decisions based on incomplete data. Now, you can never have completely complete data. We shouldn't be operating on the bare minimum either. We should always examine data, we should always be objective. So what we want to look for is historical confirmation.

We want to look at something that's happened in the past. objectively, so not necessarily just us or what's outside of us. We want to look at what has actually happened, what the cause and effect was, and how that changed something. So let me give you an example of historical confirmation. The online instructor business is booming right now. But it's essentially a digital product that's being sold online.

So we can look at other digital products that have been sold online, and we can see how they moved in the marketplace, how they will consume. So for example, we've Had the photography, digital photography, stock photography was a digital product. And we can see what happened. When it first came out, everyone jumped on board, everyone was taking pictures and the sites were just accepting them. Over time, the site's got more pictures than they needed and they started filtering. So we don't want this.

We don't want that we want higher quality. So with online courses, we can see that as well, we can see that we've Kindle we can see that with the app stores anywhere where there's digital product. So we want to look for historical confirmation outside of our experience, outside of our business sometimes, but look for patterns that have been repeated. So it's really important that we look for historical confirmation. And the other thing is we want to be able to listen to different perspectives. Now I've got some people online that just a little Like to disagree with everything I say.

But you know, sometimes they're very useful. Because if I say something, I'll look at their perspective. And I can sometimes see something I've missed. So they might be 70% wrong, but they might be 30%. Right and that 30% is something I can use as data to make a good decision. We do have to make sure we understand about worldviews, which we explained in a previous lecture.

But qualifying what they're saying different perspectives can be really useful, but using that perspective, to help us come to a decision is really useful, especially someone who completely disagrees with you. But the key thing in all of this, obviously, is are they making decisions based on their heart or be They have an objective point of view. So we do need those different perspectives. So if we want to make good decisions in summary, don't trust our feelings. We need to make sure we're examining data, not feelings. We have to be objective and understand that we are not the source of objective, absolute truth.

And also, we need to be able to look at historical confirmation. Externally, and sometimes even internally, sometimes we just need to look at our figures. Look at our cash flow. And so when we did this, let me give you an example of that. Mean, Philomena, we looked at our business and we was looking at marketing and we wanted to market a certain type of business. We wanted to present a certain type of business, when we actually look what people are asking us for it made us change.

So we looked at what people were requesting when they kept asking us what they approached us for. Me adjusted our business appropriately to what they actually wanted. And that sort of falls into the different perspectives as well. So I hope that helps you to start thinking about how you're going to make good decisions as an online entrepreneur going forward, and how you've might have made bad decisions in the past based on your feelings, but you didn't quite understand why you're making bad decisions. Hopefully, this will clarify Now, why most bad decisions will happen and do happen in an online entrepreneurs business.