One of the things that make you a good leader is learning how to Improve Your Decision Making. The decisions may be as simple as determining when the cleaner would clean the offices or can be as complex as planning and developing a new marketing strategy.
Every decision you make has its own level of risk, small or great, that may ultimately affect business either positively or negatively.
It is true that employers with more experience have generally learned more and developed greater expertise that they can draw on when making decisions. Experience helps managers develop methods to quickly deal with programmed decisions and helps them know what additional information to seek out before making nonprogrammed decisions.
If you’ve not had so many years of experience then there are ways and strategies you can employ to help you make better decisions.
Strategies to Improve your Decision Making
1. Stick to the Facts
As a business owner who wants the business to grow and succeed, you must be ready to separate emotions from facts. In the judiciary, a judge can be asked to recuse him or herself when there’s a conflict of interest or in cases where the judge is emotionally involved in a case.
When it starts to feel that emotions are escalating, one of the best things you can do is make an effort to refocus yourself on the facts at hand. Intuition is definitely a powerful tool for the business decision making process, but it should always be weighed alongside concrete information.
If you’re struggling to objectively analyze the available information, don’t be afraid to ask for outside input from trusted friends or mentors. A third party is also helpful in helping you see the role your personal biases and emotions are playing.
2. Keep the Expected Outcome in View
Some employers making the mistake of putting their expected outcome in the rear because they feel it is something that should happen one day.
Keeping an eye on both your short-term and long-term goals is an important thing for any business owner to do. It is alarmingly easy to get side-tracked when caught up in the energy and momentum of your enterprise, but it is important to stay anchored with a set focus on the big picture.
Never lose sight of what it is you initially set out to do and the potential outcomes of your decisions.
When you do that, it is easier for you to direct your decisions towards the goal you want to achieve and if any decision doesn’t necessarily impact any of your goals, you can carefully evaluate and amend towards your goal or just do away with such decision.
3. Pay Attention to Employee Morale
The growth of your business is built on your team either directly or indirectly. No man can solely build a business from scratch to a point of global recognition without the input of other people.
You will always need people to work with you and do their part to be successful. Therefore, the morale of those that work with you is very important if you want to get the best out of them.
Regardless of the type of decision, you’re currently being faced with, taking a look at employee morale will almost always provide some meaningful insight.
For example, if your ultimate goal is to expand your business, by opening another location, offering new products, etc., then considering current staffing capacity, morale, and ability to hire additional staff will keep your current employees happy.
Building a dedicated and reliable team is one of your best defenses against the unpredictable obstacles that you may be forced to face in the future.
4. Input from Others
It is popular knowledge that “no man is an island of knowledge”. That statement is true because no matter how well you’ve learned and mastered your craft, there would be times some things would seem overwhelming for you. That’s why you need to speak to people when you hit walls.
Some decisions you think are very hard for you to make might just be solved within minutes or even hours after you share it with people because their perspective would be different from yours.
You can talk to the people in your organization. Seek their guidance on various topics, remember that you hired them for a reason. You also don’t have to limit seeking their guidance solely on those issues that directly apply to their jobs, they likely have an opinion on all aspects of your business and sometimes an outsider’s take on a situation is the most helpful.
5. Take A Breathe
It’s not every decision you’ll have to make immediately, you may want to just get things over with but sometimes what you need to do when you hit a wall is to first take a little time to yourself and do other things then when you have a better view of it all you can revisit. You don’t always have to be in a hurry or rush when you can take a little time. Remember that decisions made out of panic might fail.
Even in rare situations in which you will need to make a decision sooner rather than later, it’s still important that you give yourself a few moments to process the situation and try your best to reach the final decision with a clear head.
A quick reminder for you is that you cannot always get all the decisions right, so don’t beat yourself up when something goes wrong, take it and learn from it. There is always a way to move forward and get your ship back on course. Admit when you’ve made a mistake and evaluate why things went wrong. If you’re able to learn from it, your decisions will only be that much more informed next time around.
You can also check out the updated business tips page for amazing business tips and if you are also thinking of starting a business you can check out the business ideas page for business ideas in agriculture, trading, and so on.