Everybody makes decisions. We make decisions regarding every aspect of our life and sometimes decision making is one of the hardest things to do. It isn’t easy always. We may lack confidence, feel uncomfortable and fear failure while we make decisions. Many go through depression and anxiety because they fear failed results while making a decision. We all make mistakes and have faced our share of regrettable decisions. Managing a business is a big task and involves making better decisions constantly. The decisions that you make about your business will impact your company’s future.
However, it is important to understand that good decision making leads to success that we long for. If our decisions are poor and leave open ends, success will be hard to get.
It’s true that we all go through a series of issues when it comes to decision-making. You might be a procrastinator, victim of analysis paralysis, or might even be a perfectionist.
These aspects can slow down your decision-making process and kill your dreams and your goals. Decision-making might wear you out and can cause stress.
There is none who’ve not made bad or wrong decisions. Many leaders fail because of poor decision making and because of that, a whole lot of things change in their businesses. However, this can change.
“Whenever you see a successful business, someone once made a courageous decision.”
― Peter F. Drucker
Here are 6 tips for making better decisions so that you will reach the success you’re looking for:
1. Take time out
Before you are making a major ground-breaking decision that decided the future of your life as well your company’s existence, it’s important for you to set aside some time before making a final call on the decision.
Make sure you are undisturbed and are experiencing a quiet time while making a decision. Don’t make decisions because of the pressure.
Moreover, refrain from making a decision when emotionally unstable or physically exerted. Make sure you devote your complete attention to the decision you are about to make and then proceed with the implementation. Focus on making better decisions.
2. Research well
Before making any major decision, it is important to gather all the facts about the particular decision you are making. Gather all the necessary information regarding important aspects of the decision.
Never make decisions based on raw information. Making a conclusion based on that will lead to incomplete and inappropriate decisions. Make sure you have completely analyzed the important information and data collected and it’s properly validated by trusted sources.
Making decisions based on other’s opinions can affect your decision-making process and can cause the decision to be a biased one. When taking crucial business decisions, it’s important to make factual data ready to support the basis of the decision. Note down the data and information you’ve referred to and make sure the information is accurate.
It is true that sometimes you have to make quick decisions and you would lack the time required to make the required analysis.
At such a time taking required opinions can be opted for, however, people involved in helping you make decisions should be the ones you trust. However, the better option is to talk to yourself and trust your own decisions.
This will help you take responsibility for your own decision.
3. Make an alternate plan
Many-a-times people put a lot of time and energy into making one decision but forget to create an alternate plan to opt to. Make sure that you have a plan to catch up to once you see that your plan A is not working according to your expectations.
Remember that the decisions you make reflects on how you reach your goal and the goals you’ve set for your company and those who work for you.
4. Take responsibility for your decision
Trusting yourself and the facts you have gathered will always help you take the admiration and the fruits a good-decision can bring. Sometimes your decisions might bring failure, but it is important to take responsibility for the bad decisions too because it was your decision. Therefore, it is advisable to always take decisions based on what you have felt and not what others feel. Learn from others’ mistakes, but make your own decisions.
Talk positively to yourself while you take the time out and have and push away the fear of failure. The more positive you are, the better you will be at making better decisions.
Positivity helps deal with negativity, therefore, maintaining a positive attitude will help you deal with negative results of your decision too. Make sure to stick around positive people who help you gain more positivity.
You can then work on making better decisions.
5. Calculate risks
When you have done the research that is required to make an informed decision and decided on an alternate plan, make sure you calculate the risks involved. When taking the risk, calculate the time frame for getting the results.
You might be making a decision that will stay in course for a long period of time and the results may not be immediate. How do you keep in touch with the process of the results your decision might bring? A viable solution is to create a timeframe in order to update yourself with how your decision is progressing over a period of time.
Make smaller goals to accomplish everything required to get the desired results in the end.
6. Talk to your mentor
It is one of the most important things to do when you are making a decision as an entrepreneur. This is crucial because mentors serve as guides and have experiences that are different from what you may read in books. Though reading books is advisable, learning from your mentor’s experiences can help you a lot.
Moreover, a mentor is a person with contacts. He usually has a huge network of successful entrepreneurs and also those who are looking for collaboration. Gaining insight from connecting with such people can prove beneficial while you are making a decision.
A mentor can always help you when you feel low and guide you out of your worries and fears. He will help you gain confidence and will encourage you.
Many entrepreneurs face depression and anxiety because they lack a mentor to guide them through the decision making process. Since a mentor has faced the highs and lows of business, he will know the right way to help you deal with business and help you gain success faster.
In conclusion, making better decisions is possible if you are focused on your goals and focused on success. The better the decisions you make, the better your company will perform and the better you will do in life.
Do you agree? Do let us know in the comments below.