Undertake and manage a business represents constantly face making a series of decisions from the moment you start the project and perhaps much earlier.
Countless questions arise and every entrepreneur would like to have a magic wand to reveal the future to see if it will take the decisions are correct. However, in practice this is not so.
For example, some common issues requiring action are: When should I start?
How much should I invest? What kind of business should I wear? What means use it to promote myself? Am I invest now in this or hope?
Did you hire this person or this one? Am I to this supplier or change? This mention just a few examples. Today I share at least 10 tips to make the right business decisions.
The decision has consequences, forever. Every day, every moment, every second we make decisions but we should be clear that with them, take the consequences thereof. For example, if we decide to hire a vendor, we know that represents an impact on our budget but also will represent a definite increase in sales.
The consequences of a decision can not always be measured immediately. The results could be seen in the short, medium and long term. Be aware of when we will see the results is essential and that a decision may be positive in the short term but could be negative in the long term. Example: lower or raise prices.
On technical issues it is advisable to seek advice to make the best decision. If you need to buy a special machine, if you need to implement a new system. You should always get someone that already has such a system or machine and that you can offer a realistic view of what the experience both positive and negative, that way you will save many headaches for incidentals.
Collect all possible information before deciding. One of the biggest mistakes in business is to decide about something without all the necessary information so that your judgment is correct.
Similarly, deciding under the influence of strong emotions like anger, sadness or anger is never convenient. Always meets all relevant information to what they have to decide, especially if they are labor disputes.
Ask yourself questions (strategic planning). A known technique for making good decisions is to ask questions like What?, When?, How?, Who?, Where?. Answer about that situation in particular will let you clarify your thoughts and determine when is the right time for something.
Analyzes alternatives. Before you decide, always exploring alternatives. It does not mean that your decision is bad, it just means that there might be better ones. It is therefore desirable to define your sense of urgency and priorities and take the time to analyze if you can get the same results differently. For example: decisions as reduce staff, increase prices, invest in an event, etc.
Brainstorm ideas. Gather your team or gather a group of very sensible, creative and intelligent people who help you create a rain or brainstorming to evaluate or improve your proposal is also a method that works very well. This is convenient for example for determining the name of a product, a uniform color for a logo or slogan, etc.
Finally Decide!. If you are in the process of making a business decision, it is important to decide. Hesitation or doubt for long about something only negative creates a sense of insecurity. When in doubt, it is always advisable to take the plunge. It is better to err and to rectify the road doing nothing. But worst of all may be to stay in the space of doubt.
Examples: When you need spare an employee, when you want to stop providing a service or even when you need to close your business, which is not the end.
Evaluates the results. Deciding on something is just the beginning of the process. Then, you must monitor and follow up on what you’ve made a decision. You must seek feedback that allows you to evaluate and have a better view on future opportunities.
Avoid anxiety. Another common mistake you should avoid is making decisions for anxiety or environmental pressures. Remember not immediately decide you’ve resolved effectively and in a situation real magnitude. So look for moments of serenity to write and evaluate all relevant aspects to be taken into account.