A framework for business decisions

How to save time and avoid frustration

When you are faced with making a decision, are you usually frustrated with the lack of information? Are you often put on the spot? Do you feel pressured? Does it seem as if you always start from square one even though you know there should be some data somewhere about similar past proposals??

Here is a simple framework for making thoughtful decisions, encompassing what to do before, during, and after a decision.?I founded Biztera, a data driven software company, around this framework to empower organizations to create structure around decisions.

It all starts with the discipline to refuse to decide on the spot. Don’t just discourage it, stop it. Let your colleagues know that you expect them to follow a process.

Step 1: Gather?

Ask why and get the facts. You would be surprised how often requesters omit vital information because they are rushed for time or assume you know everything. Does a manager want to hire someone? Does a direct report want to buy something? Create a process with structured requests and use a workflow tool if you can. I’ll illustrate it with an example of an intake form for new hire approvals in Biztera.?

Step 2: Analyze

Do you feel like you possess all relevant facts? Do you need others to weigh in before you make the final call? It helps to know who else is in the approval chain and what influences them.

For example, in the case of one Biztera customer, any request over $200,000 has to be approved by the CFO. If the amount is over $400,000, it needs the approval of the department head, followed by the CFO and the CEO. Biztera’s sophisticated rules engine makes sure the correct approvers are automatically assigned.

Step 3: Decide?

Set expectations for decision timelines. At one of our customers, the CMO reviews all marketing campaign requests every Wednesday. Other leaders review high-priority projects in two business days. Whatever your timeline, inform the team and make your decision.?

Once you approve a request, make sure those who need to take action are instantly notified. If you deny a request, let people know why. At Biztera, an automatic message encourages feedback.

Step 4: Verify?

Once a decision is made, put in place a way to track implementation. If you have blessed a new hire, wouldn’t it be nice to know when the recruiting team has filled the position? Sure, the Human Resources department may use various applicant tracking systems, but you mainly want to know the final result.

With Biztera, you can easily track execution without having to log into other systems.?

Step 5: Document?

A customer once told me horror stories about improperly documented engineering expenditures. A year later, when questions arose, they could not find the presentations delivered at the time. Employee turnover exacerbated the problem. When revisiting a decision, it’s not enough to know who approved it; it’s just as important to understand why.?

With Biztera, everything related to a decision is kept in one place.?

Benefits?

There are several advantages to this framework.

1. Less confusion. Who has approved what, why and when? It’s all in one place.
2. Increased efficiency. Visibility leads to faster execution.?
3. Performance tracking. Know what happened.
4. Fewer, shorter meetings. Who wouldn’t want that?
5. Reduced stress. You’re welcome.

If you would like more information about Biztera, please get in touch with us at [email protected] anytime.?

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