As I look at the most successful clients I have worked with, the one common link between them is their ability to make timely and quick decisions even in the face of incomplete or imperfect information. They know that decisions result in action which can lead to the growth of their business. Hence, the quicker they make the decision and act on it, the faster they will be able to put their business on a growth path.
Given how quickly the competitive landscape changes, taking too long to make needed decisions can be a business killer. Some will justify their reason to decide and act slowly as their need to “get it right.” In fact, they are really showing their aversion to risk and their need to want to be perfect. Trying to be perfect is also a business killer.
When running a business, nothing is ever perfect. You collect and evaluate the information you have, come up with a plan, decide and then take action. If you make the wrong decision, you make another one to make it right. It’s that simple. There is no need to study all of the sides of a circle!
To be successful, especially in a leadership role, there will be times when you will be faced with making tough or difficult decisions that will, in many instances, also be seen as unpopular.
Some often delay making tough critical decisions on a timely basis because they fear the outcome. So, to avoid this “perceived” result, we either make a series of small and less effective decisions or we take no action hoping the matter will take care of itself. When we do this we actually do more harm because we are prolonging a bad situation and, in many cases, making it worse. This approach can be a fatal error for a business leader in situations where success sometimes hangs in the balance based on their ability to make tough decisions using not-so-perfect information.
Nothing happens in business until a decision is made. Clearly when you can follow an effective process to reach that decision, it will show up in the results. Chris shares three steps to sharpen your decision-making skills.
Chris Ruisi’s “Step Up and Play Big Moments” is all about personal and business success. Chris’s goal is to offer today’s entrepreneurs, CEO’s and business leader’s practical guidance, tips, strategies and tactics that work in today’s challenging business climate. Chris brings his practical and successful experience at senior level management and Board positions to help his listeners cut through the clutter to Step Up and Play Big. Also available on iTunes.
Podcast: Play in new window | Download
Subscribe: Android | Email | | More