Are you prepared for big business decisions?

As a sole trader, partner, or owner of your own limited company, the buck stops with you.

You are responsible for structuring your organisation correctly; positioning yourself favourably within your market; hiring the right people to deliver an exceptional experience to your clients; and, of course, getting – and keeping – your financial affairs in order.

But nobody really prepares you for the pressure that comes with making vital business decisions.

From picking a paint colour for your office to plotting your next acquisition, every day is full of difficult choices when you run your own venture – and many of them can have a significant impact on your future success.

We’ve put together our take on three of the biggest decisions you’ll ever need to make in business, and what you need to do to prepare for them.

As an aside, there are several factors that can prevent you from making a good decision. Be aware of the below before you commit to a way forward:

Not having enough information can lead to disaster

It’s important to gather quality data from trusted sources to support your decision.?After all, how can you decide on the best course of action if you don’t have all the facts to hand? ?

Having too much information can complicate matters

That said, too much conflicting info can make it difficult to see the wood for the trees! Avoid analysis paralysis by deciding in advance what information is important to you, and why.

Involving too many people in the decision-making process often causes delays

Everyone you ask will have their own opinions, which will be based on their own values and experiences. Eventually, you will need to have the final say – and be comfortable with this.

Being emotionally attached to the issue at hand might cloud your judgement

We often make decisions to avoid negative feelings. Make sure you don’t shy away from difficult decisions because you’re worried about the outcome, or how you might be perceived by the people around you.?