Advanced Decision Making

Someone asked me what issues or challenges are coming up in my recent conversations with business owners.

My answer? They’re putting off making decisions.

For entrepreneurs, the ability to make decisions quickly is a superpower. You make choices every day that impact your team, your customers, your families, and the health of your business. Usually, there isn’t an obvious right and wrong answer and you don’t have all the data you’d like – so you have to choose between two or more equally good options that each have a chance of success. It’s one of the toughest aspects of running a business.

That’s why Napoleon Hill, in Think and Grow Rich (1937), wrote:

“Successful people are decisive people. When opportunities come their way, they evaluate them carefully, make a decision, and take appropriate action. They know that indecision wastes time that could be spent on more productive tasks.”

In other words, even a wrong decision usually leaves you better off than making no decision. You learn something, you course correct, and you find a better path more quickly.

That’s why the environment we’re in, with the looming threat of trade war and tariffs along with general economic doom and gloom, is already costing some Canadian businesses. There’s a strong temptation to delay decisions like pricing changes, promotions or new hires, training programs, and other activities that are vital to long-term success.

That isn’t an argument to stick your head in the sand and pretend nothing’s happening! But it’s a reminder that even in uncertain times, there are opportunities that are worth pursuing.

3 Ways to Make Decisions More Quickly

1. Break it into baby steps

If you were to make the decision you’ve been putting off, what would the first step be? Sometimes it’s easy to commit to taking the first step even when you’re not sure whether you’ll finish the marathon – that way you’re in action and actively learning. Future you will thank you for it.

2. Hat, haircut, or tattoo?

Here’s a useful framework from Atomic Habits author James Clear:

“Most decisions are like hats. Try one and if you don’t like it, put it back and try another. The cost of a mistake is low, so move quickly and try a bunch of hats.

Some decisions are like haircuts. You can fix a bad one, but it won’t be quick and you might feel foolish for awhile. That said, don’t be scared of a bad haircut. Trying something new is usually a risk worth taking. If it doesn’t work out, by this time next year you will have moved on and so will everyone else.

A few decisions are like tattoos. Once you make them, you have to live with them.”

Is the decision you’re not making a hat, a haircut, or a tattoo? Unless it’s the latter, the risk of indecision outweighs the risk of taking action.

3. Act your values

Check in with your personal and business core values, and act accordingly. When you run your decisions through the filter of your values instead of your fears, the odds are in your favour that it’s the right course of action.

This Week’s Takeaway

“You can’t make progress without making decisions.” – Jim Rohn

What decision have you been procrastinating? What would compel you to make a choice today, and what would be the consequences?

Listen to Justin and Nelin Krull, the co-owners of Myofascial Release Mississauga and two-time Amazon best selling author, as they discuss differentiation from competition, putting profit first, communication with partners, team members, and clients, plus learning and growing from risks and unexpected outcomes.

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March 4th: Management vs Leadership

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A 90-Day Action Plan keeps you on track to achieve your goals. You will identify your top priorities and create a focused, step-by-step plan to achieve them.

Multipliers: By Liz Wiseman

This is one of those books that really makes you rethink leadership. It breaks down the difference between leaders who drain energy and talent from their teams (Diminishers) and those who amplify the intelligence of those around them (Multipliers). If you want to get more from your people without burning them out (or yourself), this book is worth your time.

Check it out!

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