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Tips for Decision Makers in Business

Whether you like to make decisions or not, we are all decision makers.

We all make decisions on a daily basis from the time we wake up until the time we go to bed. We make decisions on what type of clothes we wear, the meals that we eat, the activities we choose to part take in etc.

We are ALL decision makers in our own lives.

However, it takes a different breed of person to be a decision maker in business, and that is why there are different layers of managers – executives within an organization. The higher you are within the organization, the tougher the decisions you must make. The reality is that many of the decisions made from upper level managers or executives affect the lives and fortunes or misfortunes of others. Not everyone is cut out to be a decision maker.

Entrepreneurs are a very unique breed with themselves. I always tell people who choose the entrepreneurial route to be prepared to make decisions and understand that every decision might not pan out the way you had originally planned. It is the entrepreneur’s ability to make the next decision based on the outcome of the previous one that may ultimately determine their success.

My short list of tips for decision makers include:

1)    Most important- Decide if you want to take on the role of decision maker in the first place. I speak with a lot of folks who believe they are qualified to make tough decision and a good portion of them are. Others simply are not. After a prolonged discussion, some folks realize that they are actually not an entrepreneur or decision maker and are better qualified to work with or for someone else. This does not make them any less of a person; it just enables them to find their real value within the workplace.

2)    If you are a decision maker, never make a decision while in the state of anger or outrage. A lot of us get disappointed at the outcome of certain events in our business lives. I will tell you that several times throughout my career, I have made tough business decisions while in the state of anger. 100% of the time I wish I’d have taken the time to cool off and look at the situation from a calmer position.

3)    Your first intuition is usually your best. This is the way it has worked out for me for most of my career. Most of us decision makers do not have the luxury of massive amounts of time. As a matter of fact, I spent the first 20 years of my life making split second decisions as a commodities trader. Often I had less than 5 seconds to make a decision that would determine if I would make, lose, or break even on a given trade. This skill has led me to the conclusion that your first intuition is usually the right one.

In conclusion, it would be easy to lists lots of key factors needed to make great decisions. The reality is there is not one key factor that would guarantee you are successful when it comes to decision making.

If you want to be a decision maker, get ready to make mistakes, then look to the next decision that follows. That will determine how successful you really are.

For more on learning if you possess the qualities to make tough business decisions, contact me at steve@livetowincoaching.com.

Find the decision maker in you!



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