It’s Election Time: Do You Have All the Facts?

By John Samore III, CPA

It is amazing how time flies and that it’s time to elect a new president of the United States. All of the campaigning, advertising, debating and news coverage about the candidates and the various measures can be overwhelming. But deciding who or what to vote for is not unlike any other decision that we make in our lives and in our profession.

The common question in all of our decisions is this: Do we have the relevant facts and information to make an informed decision? We are a thinking species with individual opinions, beliefs and thoughts on what is best for each of us and for the world in which we live. We are passionate people and oftentimes make decisions from our heart and hype rather than by gathering information and becoming knowledgeable about the available facts.

This election (and all elections) is no different than making an investment decision on whether to buy, sell or hold based on what our beloved media reports to us. The same process should be applied when deciding whether to accept what appears to be a great job opportunity or to take on a new client. Would you make a business decision or advise a client on a matter about which you were not well-versed? As you are all professionals, I would say that any decision you make or advice you give should not be made in haste or without researching the facts.

Information is rapidly presented to us, and by the time we get a chance to think about it, more information comes to our attention that contradicts the previous information we received. What do we do? I wish I could give you an answer that is uniform to every situation.

However, if you are leaning a certain way in making a decision, it does not hurt to write down the positives/negatives, benefits/detriments—or the “goods” and “bads”—of the issue. Depending on the sensitivity of the issue, it is important to gather feedback from those you trust, such as a spouse, colleague, mentor or friend. This will get you to really think about the issue and gain some insight from another person’s perspective. Often, the decision you were going to make might just change based on the information you received and analyzed.

These are some exciting and trying times for all of us with the upcoming election and the business climate. Whether you are voting, trading stocks, advising clients or making a large purchase, I encourage you to distance yourself from the chaos so you can make thoughtful, informed and intelligent decisions.

CalCPA Upcoming Events and Information
Dec. 1: Deadline to nominate and apply for CalCPA leadership positions
Dec. 3: Women’s Leadership Forum and Women to Watch Awards

— John Samore III

This entry was posted on Tuesday, October 21st, 2008 at 9:16 am and is filed under President's Message. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.