Advice From Karen Finerman at the 30th Annual NAWBO Chicago Achievement Luncheon

Karen_Finerman

I tend to be weary about keynote speeches during luncheons, because they seem to either be brilliant or capable of putting someone to sleep. At the NAWBO Chicago Achievement Luncheon, I was fortunate enough to hear one of those keynotes that left me feeling inspired. Keynote speaker Karen Finerman is co-founder of Metropolitan Capital Advisors, a permanent member of the CNBC show Fast Money, and the mother of two sets of twins! I couldn’t stop taking notes, and below are some of my key takeaways.

Everyone has their own decision making process, but hearing Karen’s highly logical six step process made me rethink my sometimes rushed decisions. Time is money, but making the proper decision is incredibly important.

  1. Frame the problem
  2. Understand your emotions and take them out of the situation
  3. Know your options – ask questions and explore options to help make a better decision
  4. Look for the 51% solution – surrender to the grey, the world is not black and white so when you make a tough decision try for the answer that will work 51% of the time
  5. Recognize what needs to be decided now and what doesn’t. If it’s a big decisions, you should wait until the last possible second because you might get more information
  6. Cut your losses – clear mistakes where it’s obvious (like wrong hires), just say your wrong and reverse course

A few other random tidbits that I took from the keynote:

  • Just be where you are (working from home is the worst of both worlds; when you’re home, be at home and focus on your home life and when you’re at work, be at work and focus on nothing but your work)
  • Put things in the schedule, even date night! It’s all about writing down your priorities
  • Execute and finish – no multitasking

(image via Tory Burch Foundation Get Inspired)