A new frame of reference – Fourth Key

A new frame of reference – Fourth Key

Decision making: Know the Why not the How

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From experience, it is actually easy to make decisions. What is harder is making the right decision at the right time.

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Let’s go back to my analogy of a sailing ship being a metaphor for business. Your vessel is under sail and something happens to stop or slow your progress. What do you do? Raise more sail? Might not be the best decision, particularly if you are grounded. You will drive yourself into further issues. Understanding the?why?of your decision-making will actually release you into greater success in business. Here are some questions you may want to ask yourself about a grounding, progression-stopping time:

?????????????Why am I making this decision?

?????????????What are the effects of my decision?

?????????????Will this decision impact my forward progress or cause me more harm?

?????????????Am I willing to accept the consequences of my decision?

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In reality, decision-making is actually really, really easy. What's hard is making the?right?decision. And that's where you need to stop and think and know what your other impacting issues are. When you balance potential and performance; when you focus on the cause; and grow the owner; you harness the power and energy to make good decisions.

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The key is to start a discipline of thinking

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I think it's exactly that. It's thinking differently. It's taking the time to sit down and think?about?your business. And that is the real discipline you’re after. It’s a case of acknowledging that we're all busy people and deciding to take some time out. It can be as little as 10 minutes a day to just sit down and think about the direction of your business. This discipline can make a massive difference to what’s happening for you. (Note that I didn’t say “to you”)

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Take some notes: - what are the steps I need to take to produce a new widget or angle or direction???Here is an idea I have had, it’s just an idea, but write it down.??Write down the dream you had last night.??Many new and creative ideas come through dreams.

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One of my businesses is wood-turning and I love it, but what sets me apart are my decisions to do things differently – whilst thinking about the way forward, I suddenly had a thought to engrave the timber. So, I went out and acquired a laser engraver and started engraving. Since then I have also started to CNC carve into the various wooden products as another feature of my services. In that one thought, one decision and one application, I added another dimension and service to my business. Think about it: - what are you adding to the service in your business that is making you look forward, not back?

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My coach says that I should add at least one new service to my business offering every year.?When was the last time you added a new service to your business?

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Contemplate your own comments and know that these are the ways in which you can move forward in your business.

Jonathan B.

Managing Partner Iridium Global Ventures

2 年

Interesting, but you can add too many services. Michael Porter deals with this in "Profit from the Core". Any adjacency that isn't logical will cost your business.

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John Shenton

Making Business Change a Success

2 年

David - a great explanation for the politicians eternal problem - the unintended consequences of a knee jerk decision

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