How to make sound business decisions is a question many coaches get asked by their coaching clients regularly. Making sound business decisions sometimes stops entrepreneurs in their tracks. They worry they will do something wrong. They fear they will make a “bad” decision and the entire business will implode.
I feel that not making a decision is the worst decision an entrepreneur can make.
How To Make Sound Business Decisions
The difference between a successful entrepreneur and one who doesn’t succeed could be as simple as making decisions and following through. To do this, you will want to have a mission and a vision and even checklists to keep you moving forward.
To learn how to, and why you’re not making decisions, you need to identify those areas in which you struggle to confidently choose A or B.
Here are ways in which to make decisions with confidence.
- Ask for help. If you’re not making a decision because you don’t have all the facts or are simply perplexed, ask a colleague or work with a coach.
- Gather the data necessary to make an informed decision.
- What value is the decision bringing to your business? What could be lost if you don’t make a decision?
- Will the situation you’re in be made better or worse by your lack of decision making? What’s the worst that could happen? What’s the best that could happen?
- Do you pay attention to your gut instincts? They can sometimes be your best guide.
Do you sometimes get frozen in place? Is procrastinating making a decision holding you back from higher business success? When you have those times when you simply can’t or don’t make a decision, do you know why? Take time to determine why you’re not making a decision and you may be on the right path toward becoming a decision-making pro!