You're torn between evaluating risks and rewards. How do you navigate conflicting advice from advisors?
When faced with conflicting advice from advisors, it's crucial to weigh the risks and rewards carefully. Here are some strategies to guide you:
How do you handle conflicting advice from advisors? Let’s discuss.
You're torn between evaluating risks and rewards. How do you navigate conflicting advice from advisors?
When faced with conflicting advice from advisors, it's crucial to weigh the risks and rewards carefully. Here are some strategies to guide you:
How do you handle conflicting advice from advisors? Let’s discuss.
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Basics are covered by others, I would like to add practical approach How To and What Should. One actually seeks advice for a purpose, which is rightly mentioned as risk or reward here. When I have a known purpose (defined) there are already a handful of alternative results to it. So, in case of risk, look for a similar experience, how they handled it and what were the results. Not every result will be same but when we understand HOW, we can connect the dots and process where it led. Remember the situation could be same as past but the outcome and expectation required now at the very moment is changed. So, history and experience are just guidance. Like, looking at data pointers they can suggest but not the final truth.
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Here’s my approach: 1)Define Your North Star: Before diving into advice, revisit your core goals. What outcome aligns with your vision? 2️) Evaluate the Source: Who’s giving the advice? What are their experiences, biases, or expertise? 3️) Instead of taking sides, consider combining perspectives to craft a path uniquely suited to your situation. 4️) Trust Your Gut: Advisors guide, but only you live with the consequences. Sometimes, intuition knows best.
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Here’s the thought process I’ve adopted based on Principles (Life and Work by Ray Dalio): Seek Credible Perspectives Gather insights from experienced and trusted experts. Stay open-minded to different viewpoints. Use Logic and Data Analyze their advice using logic and your own data. Look for patterns and consistent ideas. Act with Confidence Make a decision based on your analysis. Trust the process and face outcomes with courage.
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Navigating conflicting advice from advisors is like piloting a ship through stormy seas—you need a clear compass. That compass is a mix of principles, priorities, & perspective. I anchor decisions in core values & evaluate how advice aligns with both short-term objectives & long-term impact. Conflicting advice often stems from differing perspectives, so I seek patterns & challenge assumptions, especially if they clash with data or experience. Ultimately, advisors offer input, but as the decision-maker, I assess risk tolerance: Can I live with the downside? If the answer is yes, I move forward confidently. If not, I recalibrate. Leadership is about clarity in ambiguity & learning to navigate through it without losing momentum.
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Navegar por conselhos conflitantes de consultores exige clareza sobre os objetivos e critérios de decisão. Primeiro, reúno todas as perspectivas e avalio a credibilidade e experiência de cada consultor. Em seguida, analiso os riscos e recompensas com base em dados, cenário atual e impacto a longo prazo. Quando necessário, busco uma terceira opinião ou conduzo testes para validar as opções. A decisão final é guiada por uma visão estratégica, considerando o alinhamento com os objetivos do negócio e mitigando os maiores riscos identificados. Por fim, comunico a escolha com transparência e preparo um plano de contingência.
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These are my key questions to take a decision: a) Is this risk aligned with the pillars of the project or enables to accomplish some of them? b) Who is asking to take this risk: the founder or a beneficiary? If it is being demanded by the founder, he might justify the reason, and ease the approval. c) Which might be the consequences of taking the risk? Can we live with them? If loses are big, better counting on higher positions’ authorization. d) Which are the consequences of No taking the risk? Sometimes impacts avoiding the risk generate worse effects on the development of the project. Considering all this, it is recommended to take the action enabling the project & the organization to continue working in harmony with the founder.
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Para lidar com conselhos conflitantes, comece definindo objetivos claros, priorizando o que você busca alcançar. Avalie os consultores, considerando especializações e possíveis vieses, e analise os dados apresentados, verificando sua consistência com tendências e benchmarks. Pergunte sobre os melhores e piores cenários de cada abordagem e busque pontos de consenso. Use ferramentas como matriz SWOT ou análise de custo-benefício para estruturar a decisão. Se necessário, consulte uma terceira opinião neutra e adote uma abordagem iterativa, testando soluções em pequena escala. Por fim, considere os conselhos, mas confie em sua experiência e intuição para equilibrar riscos e recompensas.
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I would consider: - Values: WHO am I and what do I VALUE? Which piece of advice aligns most with that? - Criticality: Does this decision NEED to be made now? Do I have more time to gather more data and options? - Action: Bias towards making either decision rather than analysis paralysis over them both. You’ll probably find you can pivot if it’s not working out how you expected.
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When evaluating risks and rewards amid conflicting advice, I would: 1. Understand Perspectives: Analyze the reasoning behind each advisor's input. 2. Align with Goals: Ensure the advice supports long-term objectives. 3. Evaluate Evidence: Base decisions on data, past outcomes, and measurable impacts. 4. Seek Middle Ground: Combine elements to balance risks and rewards. 5. Trust Judgment: After synthesizing inputs, rely on my judgment for a final decision. This ensures a balanced, informed, and goal-oriented approach.
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As Leader one need to take decisions, to assist in the process, advisors are there. Having more than one advisor, means you are tackling a complex issue, where diverse input is essential. Conflicting advise means that your advisors are also not sure, as to what could be the right solution. In such a situation, necessity to reach out every possible source, voice and feedback is essential along with each advisor is requested to share rationale / logic/past experience for his/her advise. My plan would include:- 1. Reach out as many people to get feedback as possible. 2. Seeking input from team leaders/managers. 3. Seeking 3rd party consultancy 4. Work out possibly best solution and a decision is taken to avoid organizational paralysis
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