Management August 30, 2010 Last updated September 18th, 2018 2,944 Reads share

Five Steps to Making Business Decisions

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As a business owner, you have to make decisions on a regular basis. Whether they are big decisions or small ones, every one has an impact on your business. It’s not uncommon to feel a bit overwhelmed.

There is an excellent way to fine-tune your decision making process, one that is guaranteed to keep you from becoming overwhelmed by all of the information and facts and figures that you need to consider before making a decision.

Break each decision down into five manageable steps. This will help you to distinguish each part of the process, to put all of the information into a logical order that will help you to make the best possible choice.

  1. Define the issue. When you have to make a decision, it is usually because something has come up and it requires your attention; whatever it is, you need to identify it so that you are absolutely clear on what is happening. Defining the issue, the situation will clarify your thoughts. It will remove any extraneous ideas and keep you focused on the specific issue that you must resolve.
  2. Evaluate the options. Once you have defined the issue, you will find that there is more than one potential solution. You have to evaluate each option to determine which will bring you closer to your business vision. Your decision may only bring you  one step closer, but that is fine. You will reach your business goal one step at a time.
  3. Make the decision. When you know which option is the best choice, you are ready to make your decision. You know what is good for your business, what will bring you closer to your goals and vision. At this step, it’s natural to want to take some time to reflect on your choice. That’s fine, but don’t spend too much time in a reflective state. Once you are confident that you have chosen the best option, make the decision. There’s no time like the present to take the next step forward.
  4. Implement the decision. Once you have decided on the course you will take, implement whatever you need to do to make the decision work. If you have decided to offer a workshop, start planning it now. If you are going to invest in yourself, commit and organise investment. If you are going to write a new sales letter, start drafting it today. Don’t delay. Your decision won’t help you if you don’t actually make it happen.
  5. Monitor the solution. The only way to make sure that your decision is moving you and your business forward is to monitor the solution that you chose. If you wrote a new sales letter, keep track of how many clients it brings you. If you’re using a new accounting software, pay attention to how much time it saves you…

Most importantly, it isn’t the end of the world if you find that the decision is not bringing you closer to your goals. Now that you know the steps to follow, you can use what you have learned to begin again. Following these five steps is always the right decision 😉

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Frederique Murphy

Frederique Murphy

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