Making good decisions in uncertain times doesn't need to be so hard.

In today's fast-paced business environment, making good decisions when things aren't going as planned is crucial. Our recent podcast episode delved into this topic, offering valuable insights for navigating uncertain waters. Here are the key takeaways:

What Makes a Good Decision?

• A good decision follows a sound process based on available information.
• Outcomes shouldn't be the sole judge of a decision's quality.
• Your decision is just one input among many that drive outcomes.

Challenges in Decision Making

1. In Good Times: Success can lead to hubris. It's easy to overestimate your role in positive outcomes.
2. In Bad Times: Emotions can cloud judgment. It's tempting to assume your decisions caused negative results.

Strategies for Better Decision Making

1. Remove Extreme Emotions: Whether it's overconfidence or fear, strong emotions can hinder good decision-making. Aim for a balanced, fact-based approach.
2. Contextualize Your Role: Remember, you're a small part of a larger market and economy. Focus on "riding the waves" rather than trying to control everything.
3. Control the Controllables: Design a system that clearly defines what you can influence. Build confidence by mastering these controllable elements.
4. Challenge Your Beliefs: Regularly question your assumptions and narratives. Seek outside perspectives to avoid getting stuck in unproductive patterns.
5. Stay Connected to Market Reality: Continuously gather data on what your market needs now, not in the past. Use this information to guide your decisions and offerings.
6. Balance Macro Awareness with Focus: Stay informed about larger economic and political factors. Don't get swept up in negative narratives that can paralyze action.

Final Thoughts

Making good decisions in uncertain times is about striking a balance. Understand the larger context, but focus on what you can control. Stay objective, challenge your assumptions, and keep a pulse on your market's current needs.

Remember, it's not about having all the right answers, but about having a robust process for making decisions and adapting as you go.

You can watch the full episode here: