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Role of Decision Making in a Business

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Sara Hopkins
Role of Decision Making in a Business
on Mar 18, 2018 at 10:31:46 pm

For me, making a final decision is the most difficult part in deciding for a business strategy. Thinking if that decision lands me in the right spot. And if it would help me in getting any profit. I have searched for platforms to help in decision making like Ethelo. Anyone else consider it a hurdle in starting a business?


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Bill Davis
Re: Role of Decision Making in a Business
on Mar 31, 2018 at 8:16:18 pm

[Sara Hopkins] "For me, making a final decision is the most difficult part in deciding for a business strategy. Thinking if that decision lands me in the right spot. And if it would help me in getting any profit. I have searched for platforms to help in decision making like Ethelo. Anyone else consider it a hurdle in starting a business?"

Sara,

Just some thoughts from a guy who's been self-employed for a long, long time.

First, the worst trait possible in any decision maker is decision stasis.

If you can't get past the "decision point" and MAKE the call - and live with the results - good or bad - you can't play. Period.

Not making decisions because you're concerned you're not making the "correct" one - is much more dangerous than making wrong decisions. (this can get out of hand, certainly, but if you have the intelligence to parse out the results of your choices, you can course-correct the ones that don't go as you imagined.

The key is to assess risk sensibly - and relish the fact that as you make more and more judgements - you are inevitably going to get better at making judgements.

That's just how this stuff works.

So don't let it get you down.

Be bold. Do your best. Relish your victories, certainly, but also relish your defeats - particularly if you can come away from a mess with a better idea of what NOT to do next time.

But be careful with even that. Don't get too scared by hour bad calls. Sometimes, choosing A over B won't work THIS time - but even in similar circumstances A over B might work great next time.

What needs to improve over time is really just your experience. Not your innate capabilities.

Good luck.

Creator of XinTwo - http://www.xintwo.com
The shortest path to FCP X mastery.


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