Go with your natural instinct when making business decisions
TOP TEN TIPS:
1. Set your intention – build a clear picture of what you want as an outcome, but don’t allow the decision making process to consume all of your attention – I’ve seen far too many businesses ‘fall-behind’ by concentrating on just one project.
2. Put structure to your thinking – explore, widen and exhaust all possibilities before jumping in. Take a balanced approach, I find action by itself is blind, reflection impotent.
3. Seek wisdom rather than advice – the wise and skilled helper will raise challenging questions to get to your answers. Remember: we don’t know what we don’t know.
4. Select options that are the best options for you at this moment in time, there’s no right or wrong. Check the options are authentic by asking “is this something I really want to do?”
5. Gather intelligence from the mavens in your network, these people are curators of up to date data and given the opportunity they love to inform and share.
6. Know the reality of the ‘landscape’ (market situation) – be present and be in the present, don’t bury your head in the sand and ignore the facts. Ignoring the facts could cost you in time, energy and cash.
7. Do your sums – make the best use of your management information, dig out your reports, explore the metrics and KPIs. Be sure to determine and understand what drives your economic engine.
8. Consider the wider impact – check deep within that the outcome that’s driving you is a positive one. Ask yourself “will the price that I and others will have to pay be worth it?” note that ‘hidden’ drivers serve only to feed our own ego needs and will not benefit the business.
9. Check you have the willingness to take the first step – are you prepared to take the responsibility and the consequences; be aware of the risks and challenges, plan how you can manage out any risk and embrace the challenges. Most importantly notice if you’re feeling pulled and pushed in all directions, a coach can help you work through contradictory dilemmas.
10. Go with your natural instinct rather than against it – if you usually take a planned and organised approach and prefer to have things settled, then do it that way; if you like to keep your options open then do it that way.