In business, every decision feels like a BIG decision, a "life-changing" decision. This can be so daunting that no decisions can be made, let alone good decisions. You don't want to be in this place. Good decisions last long, which means it takes time to make them, weighing up options, factors and all considerations. Here's are some ideas to consider before, during and after your decision-making process:
Relax.
Not all decisions have to be daunting. Decisions made from fear or worry are rarely sound. Do whatever works for you (deep breathing, taking a run, meditation) to put yourself in a good frame of mind where you feel mentally clear and emotionally neutral. You will feel better when you have a fresh perspective on the decision you have to make.
Clearly state your goals.
If you don;t know where you want to go, how can you possibly determine the best vehicle for getting there? Make sure these goals are yours, not your neighbours' or the goals you think you're supposed to have. Clarify the problem and state your goals.
Eye on the prize.
Business decisions are an ongoing process. Keep your focus on what is best for your company and evaluate how you can achieve that. If you've made a mistake in the past, that was not the best for your company, learn from it and re-evaluate how you make decisions and what you need to consider.
Gather all your information.
Many people avoid taking a full look at all of their assets and liabilities. But without it, you don't have the foundation to make good decisions. Lay that information out in a way that is clear and concise.
There is no "I" in "team".
The lone ranger or fastest decisions aren't always the best decisions. High-quality decisions should be inclusive of all important stakeholders. Make time to sit with your team, seek various perspectives and consider all options.
Create a few scenarios
Take past experiences in order to predict future impacts on staff, revenue and expenses. "What if" scenarios can help you determine the possible effectiveness, timeframe and effect your decisions could have.
Weigh it up.
Weigh consequences vs opportunity. This will determine your potential outcome. In your analysis, be sure to evaluate the most likely and worst-case scenarios as well.
Sleep on it.
The old "sleep on it" advice has merit. In doing so, you give time for your gut instinct to kick in. You also give your mind time to come up with different questions to ask and possibilities to consider.
Make a decision and act on it!
As motivational speaker Tony Robbins says, "Remember, a real decision is measured by the fact you've taken action. If there's no action, you haven't truly decided." Implement your decision fully and wholeheartedly.
Evaluate your results.
When you make your decision, also set up a reasonable timeframe to evaluate how that strategy is working for you. Set up realistic expectations for that timeframe and, if your decision is not panning out as you'd expected, be prepared to change course. (And if you are so inclined, you can compare how your chosen strategy is doing compared to other possibilities.)