From Get Smarter by Seymour Schulich:

Making a decision is usually boils down to picking between two options; sell or keep, invest or save fund, go for the next degree or get a job, and many more examples. So, you have to answer a YES or NO.

Make two columns; in one column list all the goods and in the other list all the bads about your decision. Depending on your priorities give a weight from 0-10 to each of the listings, 0 for least important and 10 for most important. If the goods outweigh the bads at least twice as much, pick YES, or if the bads outweigh twice as much, pick NO. If it is too close to make a call, don’t make that decision now.

Example:

Do I continue with my PhD or not

Goods

Have the option to become a professor later on:5

Gives more credibility as a new graduate out of university: 5

Gain a good reference from the university: 4

Can join R & D departments: 2

Add another degree to my resume: 6

Start higher in the company hierarchy:5

Learn about RFIDs + Crypt Algorithms: 3

Goods Total: 30

Bads

My last 2 years would be wasted if drop out: 4

Postpone going for MBA degree: 6

Have less time for my startups for another 2 years: 5

Limit areas of business:3

Stay poor for another 2 years: 5

Bads Total: 23

Conclusion: I cannot make up my mind right now and need to take some time!