Six Steps to Better Decision Making

Happy business woman looking on questions in bubbles isolated

Are you indecisive?   Do you find it hard to make decisions?  Do you second guess yourself after you have made a decision?  If you are, the good thing is that you are not alone.  There are several factors to take into consideration when you are making a decision.  It does not matter whether you are making a big or small decision, it can still have a huge impact on your business.

There are many factors that can influence a decision.  What you need to understand is that everything and everyone around you has an impact on your decision- making patterns.  Every day, you subconsciously gather thoughts and feelings from what happens around you.  If you want to make better decisions, follow these six steps:

  1. Make sure you have all of the information needed to make the right decision, so do your homework and research. Sometimes we jump to conclusions without looking at all the facts and we make judgement calls which result in a bad decision.
  2. Let others influence your decision. There is nothing wrong with getting opinions, but make sure you feel right about the decision and don’t let others tell you what to do.
  3. Create a realistic budget to calculate costs.
  4. Weigh in on your past bad experiences so that you can avoid a repeat of the same outcome.
  5. Generate a timeline for accountability.
  6. Lastly, separate yourself from the idea so that you can see the complete picture. Do not make any decisions based on emotions.

After the decision is made, you have to remember that whether it is a bad or good decision, you need to deal with the outcome.   You always need to be flexible and positive.  If the decision you made was wrong, there is no time for regret.  You need to stop immediately.  You should never feel obligated to continue with the decision if it surpasses the timeline and budget.  The important thing to remember is that no decision is written in stone.   As a business owner, you need to learn from all of your decisions.   Decisions you make now will impact your future decisions, so make sure you have the right tools.

One of the goals of the Centre is to empower small and medium-sized enterprises and provide the right tools to achieve success.  For more information about resources, services, business events and seminars, contact us by dialing 311, 1-866-442-5866, online at www.halton.ca/smallbusiness, by email at smallbusiness@halton.ca or visit us at 1151 Bronte Road, Oakville. You can also follow us on Twitter and find us on Facebook.

 

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