How many times we want things and we later on realize it was not worth the effort?

In most cases, we estimate rewards above what we manage to achieve, therefore, we should become more careful in acquiring products or services that we might not need. An important value I often explain to my kids is how much things are worth, and often we come to conclusion that we value same things differently.

I believe the same applies in the business world. We often misinterpret or fail to estimate the value of our contribution to our company. In most cases, we estimate everything that is out of our reach too high and the things we control too low. We would increase our overall motivation and value contribution if we improve our ability to evaluate our business situations better.

I conceive that great part of the miseries of mankind are brought upon them by the false estimates they have made of the value of things, and by their giving too much for their whistles.
B. Franklin, The whistle

I suggest we follow a couple of principles to ensure better evaluation of situations:

1. Define your own requirements – What do you want for your life? – and prioritize these requirements;
2. Start by underestimating outcomes and avoid preconceived opinions;
3. Gather as many perspectives / opinions as possible, but don’t forget to form your own.
4. Assume everyone does mistakes, including you. Accept this fact and keep moving on despite of your mistakes – They should decrease over time.