We make decisions on a daily basis that relates to family and work, sometimes these decisions fail even before they start and we begin to wonder if it is due to lack of proper planning, inadequate knowledge about the topic, or lack of passion (whichever the case may be). There is no one that can answer these questions for you except you. You have to sit down and think about what goes wrong about your decision making process and take some steps further to see ways to resolving them.

Photo by Osaba from FREEPIK
I have a colleague in the office who have been faced with making a decision about a car loan he wants to apply for. He's contemplating on resigning from the job, add some of his savings up and get the balance as a loan from any reliable low interest rate bank (commercial or microfinace). The car is intended for a ride hailing business which he believes will be more profitable for him than his (our) present job. But, the challenge is that from the enquiry he has made the interest rate are pretty high for him.

Along the line, he came across a microfinace bank that offers a low interest rate. The plan they offer is that you have to open an account with them and run the account for about three months. Within these three months you will keep depositing funds into the account, daily, weekly or monthly. At the point when you will apply for the loan you must have deposited 50% of the cost of the car into the account. This is the perquisites that will qualify you for a loan. But these prerequisite are not a challenge for him because he even have more than 50% of the worth of car he want to purchase at the moment.

The big challenge is the authenticity of the company. He said when he visited them in their office he was not convinced that they were real and if they were real they may not last long. From what he understood during the discussion with a representative of the company is that it is the money that people deposit during the supposed waiting period that wíll be used to pay other applicants. It is becoming to look like a ponzi scheme where the business will only thrive when other people put money in the scheme. He thought about all these before finally deciding not to go ahead with them because of the fear of losing his life savings due to the attractive interest rate they offered.

Most times when we are faced with making decisions especially the ones that have to do with money, we are not careful enough to weigh our options properly and this is the reason fraudulent schemes are able to take advantage of our impatience and lack of understanding. Left to him (my colleague), he wished he has started his business already and not working his ass out for another man who ends up paying him peanuts but he does not have the funds to finance it. Due to the fact that he's desperate he may have fall into wrong hands but thankfully he didn't fall for any gimmicks.

In all we embark on in life we should be alert at all times and observe our environment keenly. Learn to be observant of your environment when you meet someone who is introducing a business or investment to you. Look at their body language, office environment and don't be carried away with sweet language they use. Look at the office environment carefully and decide if they are people you will invest in their company and they will be nowhere to be found in the next three months. Information is knowledge. Take time to ask the people whose businesses are also in the same neighborhood about their authenticity, the number of months or years they've been operating and so on. With these information you will be guided to make a good decision.