Decision Making | The Biz Knows

Decision Making

Decision-making principles are a core tactic to the success of your business. The method used to approach daily and future business dealings will ultimately impact the outcome of an organization. Even the lack of making a choice is in itself a decision to do nothing. Businesses are faced with challenges every day and they must be addressed. Regardless of the need to address a simple or complex topic, you need an effective decision making strategy. Although it isn’t something that comes natural to everyone, it can be learned. Utilizing a systematic approach can help you make sound business decisions. Below are some tips to get you off to a good start.

Establish – Define a process that works best for your organization. For example, a weekly meeting of key personnel designed to address specific topics. Keep in mind the design principle KISS, “Keep it simple, stupid!”. Don’t over complicate the process.

Document – Get the details out of your (and whoever else’s) head and onto paper. It’s usually easier to review and share details when they’re written down. Plus it comes in handy in the absence of a key player and helps maintain specifics, as well as assists with organization of details.

Review – Be sure you fully understand the subject which requires a decision. Define the object that needs to be achieved, ask questions, and be sure to involve the right people. If you don’t know who or what to ask, bring in those who do.

Listen – Part of being a good decision maker involves the ability to be a good listener. Often people hear/see what they want as opposed to the big picture. Listen intently to those involved, take notes, and if necessary ask them to repeat and/or expound on the topic.

1 2 Next>

Our company is your #1 source for growing your business. We provide knowledge and support for current as well as aspiring entrepreneurs. One of our primary goals is to help you reach yours.