If you own a small business, you need to be able to make decisions. These decisions must be good and must be fast.
How make good decisions, particularly if you are overworked and have little time? The answer is to develop a decision-making process that allows for quick review criteria and reach a decision.
First, understand the decision to do (if you have no more than two options, there is no decision – that can not decide in less than two).
- What is the decision made?
- Why this decision be made?
- How will this decision affect the company?
- When it is necessary to carry out (today, yesterday, tomorrow, next week)?
- Who is responsible for making this decision: even though you are a small business owner that does not mean you should make all decisions. If you have staff, why not hired employees who are trained to make decisions or make decisions? And who will that effect the decision: employees, customers, suppliers or other stakeholders?
Once you understand the decision that has to do, define it. If you can (if you have time) note the options you have before you, and try to think about alternatives. If necessary, research options and try to find as much information as possible.
Sidebar —– —–
When I talk about choices or decisions in this context of research, I'm talking about decisions rather significant, such as opening a new branch, launching a new product, the implementation of new management information system.
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Once you have completed your research, begin to review the best options are and which are the worst. Take the worst off the table. After evaluating what is most important to you and your company: Do you need rapid growth in sales? Then, the acquisition of a competitor can be a good decision. Need expand your market? Then, the opening of several new key branches might be a good decision. Make sure you clearly understand the strengths and weaknesses of each option. For major decisions, build a business case – its objective is that the decision to be the most obvious, and law.
However, not all decisions are correct. You can not be 100% correct at all times. So learn from your mistakes: what works for your company, what does not work for him.
Do not let your deal has stalled because he is afraid of making decisions. Rather take the fear of making decisions, trying to be a relatively easy process.
If you need to do the same kinds of decisions often make a checklist. For example, if you are hiring new staff, create a list of features and the most important attitude for you. As you interview candidates for the job, think of this list (create questions to elicit responses that focus on those traits) and after the interview, the candidate status of a range of one to ten. This simplifies the decision making process – highest score wins the job work.
Every small business owner will have to decide, probably on a daily basis. The way to get good at making decisions is implemented. Often make decisions and you will find easier decision-making time.
