WHAT TO CONSIDER IN MAKING BUSINESS DECISIONS

Leaders, business owners, directors, entrepreneurs, whatever you call them, make decisions everyday – decisions that will be significant to the success of the company. It requires years of training and experience, years of ups and downs and years of trials and tests. These are the people who refuse to give up, persevere and kept on moving forward when all else fail.

These are the kind of people who identify the problem, focusing on the solutions instead of the situation. Once you have identified the problem, this will determine your steps as to where to start. Think through the key details about the problem, and collect any significant information.

Often, the act of gathering information is the first step towards resolving the issue. Sometimes, it’s worth talking to your next in line because most of the time the underlying cause of a problem is not conspicuous.

What to consider in making a business decisions

Once you have identified the problem, then you can generate possible solutions. Try to think on multiple solutions, and treat each worthy of consideration. Brainstorming is most of the time worth trying by gaining fresh viewpoints. Get the facts and figures, think on the pros and cons of each idea and compare.

At this stage, you have already spent a fair amount of time on the problem at hand, and of course, you want to see it taken care of. Make the decision, but before you go any further, it’s important to look critically at the problem and review your decision.

By applying experience or divergent thinking, a leader can distinguish similar situations and can be confident with the decision. You have to accept responsibility for the decision. As Tony Robbins said,

It is in your moments of decision that your destiny is shaped.

Tony Robbins

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