Everyday and night, humans are tasked with making decisions…
- Coffee or tea?
- What’s for dinner?
- Should I sleep in?
While these all seem like unimportant decisions, they are decisions that must be made none-the-less. And if you choose not to decide, you are still making a decision.
I hope I am not sounding like Sigmund Freud.
So, now that we know each and every one of us must make decisions, let’s look at entrepreneurs.
Like I said, the choices in the bullet points at the start of this post will not greatly affect other people, your finances or your health for the biggest part.
But entrepreneurs must make decisions that can carry lasting consequences.
In today’s post, I am going to share a wide variety of tips that can help you make the best choices when faced with complex issues.
These tips are in no particular order, so I suggest you print or write them to help you when you are in periods of decision making stress.
Decisions Tip #1: There Will Never Be A Perfect Time
I believe we all have had those times when we “postpone” a decision because we assume there will be a better time to make it.
If you are putting it off to get more information, that is one thing. But if you are postponing the decision because Jack has the flu, Sally is having marital problems or any other issue like those, you are not being a good leader.
Decisions Tip #2: Put Your Ego In The Closet
When you weigh potential outcomes as a result of the decision you are about to make, you may discover the answer goes against something you stated to your teammates just 2 months prior.
“We will never settle for less than 1,800 square feet of manufacturing space!”
But now you have been offered a huge tax break on a building that has 1,100 square feet. Plus, the location is great in relation to your suppliers.
It only makes good sense, but it also means you will have to put your ego on hold when you announce the decision at the meeting scheduled at 2.
Decisions Tip #3: Get Feedback From All Who Have Vested Interest In The Decision
If it is possible, you should attempt to get feedback from any, and all who will be affected by the final decision.
In some cases, this is not possible because some decisions must be made on spur of the moment.
It is important that when asking their feedback, you need to explain you value their feedback but the final decision will be yours to make and it may not agree with their thoughts.
Decisions Tip #4: Make A Daily List And Prioritize
Just like a daily business plan, you should have a daily decision plan.
I suggest you list the decisions you know you will have to make each day. Now prioritize those decisions.
I suggest you get that most important one made early. Some call this “eating the frog.” By doing so, you will discover the other decisions will be easier.
Decisions Tip #5: Trust Your Instincts
As a person who loves to analyze all the possibilities, I have discovered that I sometimes decide to go against my first instinct.
And it usually comes out bad!
If you follow your instincts… NOT YOUR EMOTIONS, you will have great results the biggest percentage of the time.
Decisions Tip #6: One Decision Does Not Solve The Complete Problem
Far too often, we can assume that one decision is going to solve a problem. Normally, it is a series of decisions working in tandem that solve the problem.
I have found that if we do not focus on the problem but focus on the basic decision we must make, the end result, after making all the decisions is – problem solved!
Decisions Tip #7: Consider Decision Making Technology
Some decisions require a large amount of data. Having someone go through data and attempt to separate the important from the unimportant.
There is a wide variety of software that has been developed to aide you in decision making. 3 well-known and trusted examples are:
Decisions Tip #8: Consider The Worst
Most of you know that I live a completely positive life. But when it comes to any decisions, yes we look at the positives, but the wise entrepreneur always considers the worst possible outcome of that decision.
Is it worth the risk?
You need to understand that you WILL make some bad decisions. Accept that and when you do, just admit it and make revisions to mend the situation. You will gain more respect if you make a bad decision and admit it than you will by making no decision.
To gain success as an entrepreneur, you will have to make some tough decisions.
But guess what?
I have a simple decision for you now. You see, awhile back, I developed the Home Business Success Kit. It is 3 tools in one to help you grow your business.
Your decision is, “Do I want Eric’s help?”
If you have any comments or questions, please share them below. Thank you and let’s take your business…