The decision makers in the world of business take calculated risks. They run an idea across their advisers and staff, do some research and come to a conclusion based on the information they have available. They test their ideas for workability. More often than not those ideas has to be scrapped, as unworkable. The money spent is lost.
To make wise decisions, you need to have some available facts. You come to a decision based on your own experience, however limited it is. But the fact remains that at some point you need to stop debating the pros and cons and come to some kind of conclusion. Making decisions is critical whether you are in a business of your own or are a simple employee.
You may have heard of the “Ready..Fire…Aim” business philosophy. It simply means that you get as many facts as possible, then act on your decision. Chances are you will miss your target which forces you to adjust your aim. The experience of failing gives you the know-how to get closer to the target the next time you fire.
The better you are experienced, the easier it is to come to the right decision. But even the executives of multinational corporations sometimes make decisions on hunches and educated guesses. Since you’re not likely the CEO of a top company, you can develop your decision making with more safety without fear of losing millions based on a wrong decision.
Those who are afraid of making decisions are often not goal oriented. Since they have no goals, every decision guarantees failure. Without a plan on paper and knowing what they want from life, decisions are impossible. To help you make better decisions, follow these basic rules:
1. Analyze how the decision impacts the goal you want to achieve. Make decisions based on how they can move you toward your ultimate goal. If it has no relevance or advantage, you can disregard it or make a quick decision. Either way it will not affect your future..
2. Get the facts, but don’t make getting those facts your excuse for not coming to a decision. Ask your friends for their opinions or get the advice of someone who has been in a similar situation to yours.
3. Run a preliminary test if you can. This is the approach corporations use in advertising. They will spend money to see which ad pulls the most responses in several mediums. Once they know one ad pulls better than another, they will put more money in the area where the results justify the expense. .
4. Put your faith into your decision. That means casting away doubt. Believe in yourself and your ability to come to the right conclusion. Don’t lose sleep or agonize over your decisions. Success lies in striving toward the goal without hesitancy or fear.
5. Be prepared to accept failure. Not every decision you make will be the right one. Some will fail. Failure is just a part of learning. Learn from your setback, then adjust your thinking and you are likely to be successful the next time.
If you just follow these simple rules, you will become adept at reaching the best decisions and that can impact the lives of all those who depend on your skills and leadership abilities. .