Money Energy EQ for Better-Informed Go/No-Go Decisions

A go/no-go task or decision is one in which certain conditions must be met for us to go – or for us to overcome the impulse to go when that may not be in our best interest. So, in some circumstances, not proceeding is prudent. Still, in either-or scenarios, for instance, we must decide the best or safest or most profitable option or direction.

Have you ever considered the go/no-go process as a way of determining financial decisions? The application of go/no-go in project decisions may be familiar but consider where this approach might fit in wealth building. 

Money Energy EQ

Big financial decisions usually come after considerable thought, research and the investigation of options. But this doesn’t guarantee that the right decision is always made. 

The internet and libraries are full of sound advice (and, of course, not-so-sound advice) on how to make decisions. But if you can get a handle on your identity, your behavior and what we’re calling Money Energy EQ, you will make far better decisions.

EQ of course being emotional quotient, better known as emotional intelligence. We’re drilling down on that, getting more specific around our own inclinations regarding all things financial.

Go…with your financial personality

Let’s take a minute to explore what you need to get to a go/no-go decision about your investment strategy. As an example, let’s say you have to choose between two exciting investment options. You can’t afford to invest in both, so how do you get to your Go/No-go?

To make rational, well-thought-out financial decisions, you must understand what is happening emotionally that is part of your decision-making process. That is, the innate behaviors you revert to – and which you may not even be aware of – that can inform, drive and, eek, even derail sound decisions. 

Invest in a discovery process that not only reveals your financial personality, and hopefully one that also shows you your relationship to money. It’s this aspect of behavior that takes over decision-making; again, even if it happens – as it does for most of us – unwittingly. 

With this behavioral awareness, you can easily set your Go/No-go in decision making and resist the temptation to sell too soon or hang on too long, for instance. Money Energy is a thing; it can be revealed, it can be measured and, most importantly, it can be managed. 

What lies beneath

Money promotes emotions in both good and bad ways and has an omnipresence throughout every aspect of life, so we must be in tune with the messages we send from our hearts to our brains that become the actions we take. 

In considering the two investment opportunities above, you need rationality to make good decisions, but emotions are an important part of the human experience. They’ve influenced some of humanity’s most significant achievements. And some of humanity’s greatest calamities. 

In times of uncertainty and stress, emotions can negatively impact us and our decisions if they are not managed well. (And, again, awareness and discovery is key, because most often we’re not even aware this emotionally charged thinking is in play.) 

To wit, unleashing your money energy in a positive way requires understanding your natural behavioral style in order to build an enhanced relationship to money. Why? So, you can improve its integration into all areas of your life and then be positioned to create and capitalize on more opportunities – making sound go/no-go decisions. 

Even the most intentional and strategic people can’t always control decision-making responses. And if you don’t understand your financial personality, which reveals your identity, no amount of rationalization will help you make a decision you can live with. You will constantly question yourself, leading to stress, anxiety, sleepless nights and ill health.

For you & your clients

• Do you know how much control money has over your senses and perceptions?
• Do you recognize you have a financial personality?
• Can you recall times when you felt a prompt not to go with a decision? That’s your money energy.

This is invaluable for wealth advisors, but for other “guides,” as well. If you are a consultant advising people on a range of matters – career building, financial awareness, entrepreneurialism and/or relationships – it can be critical to know your client’s relationship with money: Because everything we do and every decision we make finds its roots in money. 

If you are a financial advisor, dig deep into your client’s life; it is there that you will find their money energy. With that knowledge, you’ll be better poised to advise them, knowing you can get them to a go/no-go decision more efficiently. In turn, you’ll be helping them develop the skills to more knowledgeably get to the go/no-go point on their own in the future.

Ready to “go”?

By harnessing Money Energy, you can better understand yourself and your clients behaviorally. This Money Energy EQ is the power and capacity to generate wealth that becomes a stored force releasable into our life at any time. Put another way, you – and your clients – will always know your go/no-go when making decisions. 

If you’re ready to make a “go” decision on Money Energy or if you have insights or a differing perspective on this, let’s talk. I love digging down on specific scenarios with advisors, coaches and other guides.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.