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Making Good Business Decisions

Do you feel like you have a million and one decisions to make in your business? As a business owner, leader or manager with a handful of important choices to make each day, the reality is that we are making constant judgement calls.

It’s estimated that the average adult makes about 35,000 remotely conscious decisions each day. Each decision carries consequences that are both good and bad, and can affect not just you, but your business and your success.

Every day we are faced with an increasing numbers of choices:

  • What will you listen to on the way to work?
  • What kind of coffee are you going to have… and from where?
  • Do you tidy your desk today or answer those 85 emails first?

(Fun fact: We make 226.7 decisions each day on just food alone, according to researchers at Cornell University – Wansink and Sobal, 2007).

Then there are the more involved business growth decisions, like who we connect with on Linkedin. How are we going to get those prospects across the line once we have connected?

When making decisions, to make them effective, it helps to have a formula. When you know HOW to make a choice, it becomes easier.

If you want to make good decisions, you must plunge in and make them with full awareness. So, what will help you make a good decision? These are two simple steps to aid decision making that I learned from a mentor many years ago.

Step One:

When making a decision, ask yourself ‘what are the consequences of my decision…’

In 10 minutes?

In 10 weeks?

And in 10 months?

‘…On myself, on my business, on my vision, and on those around me?’

  • Think of a decision that you need to make in your business now and ask yourself these questions.
Step Two:

Go further and ask… Is this helping me achieve my business vision? Can saying yes to this opportunity get me closer and faster toward my goal? Is this aligned with my values? What is the return on my investment?  What is your answer?  Have you made a decision?

You can use this process for making any kind of decision in your business. If you know that you’re someone who struggles to make decisions, who has been putting success on the back burner for too long, go ahead and put this process into action right now and trust yourself to make a decision. Your decision may require you to take some other action or do further research – great, that will still help to move you forward.

Every good business outcome relies on a decision being made. Boldly and courageously make a decision today and watch how it creates momentum in your business.

Good luck!

Connect with our Head of Strategic Partnerships, Catherine Newton.

Call or email: 021 360 891 or catherine@pod.co.nz

We look forward to getting to know you.

https://pod.co.nz/business-planning-business-coaching/ 

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