“What if I decide wrong?”

“What if I decide wrong?”

When it comes to decision-making, it all comes down to this fear.

But, there are no wrong decisions, if you can answer these four questions in front of a company trial (just kidding, never been on one).

Have I done my best to bring all of the appropriate information to make the decision at hand?

Without information, we're just blindly stumbling around in the dark - and that rarely ends well. But, if a striker got the ball he can't weigh his moves and options for 20 minutes.

That's what I'm talking about “if you have done your best”. Have you spent a reasonable amount of time researching and gathering information? Prepare reasons for stopping research and starting the action.

Have I considered all stakeholders and their potential responses to the possible decision outcomes?

If you're like most people, you probably think that stakeholders are only needed when it comes to big decisions. However, involving stakeholders in your decision-making process, even for small decisions, can be extremely beneficial.

Did you consider the stakeholders needed to be involved so that they can confidently support the implementation of the outcome? Which of the stakeholders will be directly affected by the outcome? Stakeholders help you identify potential problems way above your level of information or knowledge about the state your company is in. (If you're not considering all of the potential ramifications of your decision with stakeholders beforehand, they will happily point them out to you in the aftermath ;-) )

And don't forget about political reasons to involve stakeholders. Sometimes there are stakeholders that are negatively biased towards the topic you are deciding on. Try to find stakeholders that level the playing field with either power or connectedness to top management.

Have I asked the company's topic experts for advice and assistance?

Not only is this important because of their valuable information. You also don't want to get caught overstepping (even if only imagined) borders of a choleric “know it all” that consequently will hinder the implementation of the outcome!?

Can I state my decision-making process?

You don't want to get caught up in a second-guessing or finger-pointing cycle over what happened, and if you chose wrong. It's important to document your decision-making process, so you can point to it and say confidently:?

“Look at page four, WE have considered all available information, all pros and cons, all necessary people.”

You also don't want to get caught up in a second-guessing YOURSELF cycle over what might happen if you choose wrong. These kinds of thoughts can lead to anxiety, depression, and even physical health problems. It's important to have a documented decision-making process that you can come back to and say to YOURSELF:?

“Look, I have considered all available information, all pros and cons, all necessary people, and here is proof.”

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Here's the five (and a half) step process I use in all decisions I make, be it professional or personal.

Step one. What are we deciding on?

Most people think that the purpose of a decision is to choose the "best" option. But that's not always the case. Sometimes, the purpose of a decision is simply to choose an option that is good enough. Other times, the purpose of a decision is to eliminate all bad options and choose the best option from the remaining choices.

Ask yourself:

"What would happen if we made no decision at all? What are our goals?"

"What is the outcome?"

"How much time do I have to make this decision?"

"How important is this decision?"

"What are the stakes?"

Step two. Define what matters to you and your company and how the outcome is reached.

Answering these questions will help you identify the purpose of your decision and make a choice that is in line with your goals and values.

Make a list of what values an option has to respect?"

"What “musts” and “wants” does an option come with?"

"What is the budget?"

And don't tell yourself, that your company is not driven by values. If your issue is “declining profits”, and your options don't include “get in the cocaine business”, you are driven by the values “Integrity” and “save”. Well, at least I hope so.

And don't confuse musts and wants. A must not met by an option is a deal breaker. If an option must be “legal” for example, the cocaine business is - yet again - of the table.?

Wants, on the other hand, are neglectable features. Having cupholders in the back row of my car was a want for example.

Talk to your employees. They're the ones who are closest to the work and they may have valuable insights that you didn't consider. Make sure you understand all implications of the decision before making it. A survey is a great way to get a pulse on what your employees are thinking.

Have one-on-one meetings: The best way to gather information from stakeholders is to simply sit down with each of them and have a conversation. This gives them an opportunity to share their thoughts and feelings on whatever issue you're trying to gather information on.

If you have a lot of employees, holding a town hall meeting can be a great way to get everyone's input at once.

Step three. Get as many options as you can!

And I mean a lot! You will lose some of them in the filter you created in step 2. Again, talk to your employees and stakeholders. They're the ones who are closest to the work and they may have valuable insights that you didn't consider. You can now use it o ask for options and solicit feedback from the group.

Now is also the time to consider outside experts for their solutions. You should have gathered enough information by now to get reasonable offerings and options.

Step four. Weigh the options against that list, and you get the best fit!

"What are the risks and rewards associated with each option?"

"What is the probability of each option leading to the desired outcome?"

"How many tics does it generate in your value, must and want list?"

After answering these questions, you should have cleared out the list of possible options vastly. Only one option should have survived. If there are more than two, go for the cheapest or the one that ticks the most wants, sometimes it's both.

Step five. Execute the option.

Now comes the easy part. Just kidding. Once you have decided on an option, don't look back. You ran with it because your decision-making process told you it was the best option. Don't try to change your filter just because your “favoured option didn't make it. This happens all too often! This is the biased stakeholder issue I was talking about earlier on, only it affects you this time :-).

Step fiveandahalf. Evaluate the result.

I can not emphasize enough the evaluation of a prior decision and its outcome.

"What hiccups happened in the process?"

"What values and musts appeared AFTER the decision was made" (believe me, they will)

These have to be taken into consideration next time!