How Good Are You At Making Profitable Business Decisions?

iStock_000009579139XSmallEvery decision affects your business, even the super tiny small ones. I personally made a BIG decision to let go of the writing business. It took up so much of my time and I even had 2 assistants helping me with it. This has left me completely wide open to bring better resources to this blog and I’m not spinning around in circles any longer.

Being a good decision maker can help you in business and life. It’s been said that highly confident people make decisions clearly and stick to them rather than changing their minds or being indecisive.

And even if decision making doesn’t come naturally to you, it is a skill which can be built on.

Here are a few tips to help you:

#1 – Start small. Even making small everyday decisions will help you accomplish the bigger goal. Small decisions such as what food to eat at a restaurant are not to be underestimated. A good way to start is the next time you’re eating out, look at the menu and decide what you’d like to eat. Then put the menu down and don’t change your mind. Don’t ask your companions what they’re having and base your decision on that – make the decision on your own and then stick to it.

Small steps like this can be empowering and help you to tackle the bigger decisions to come in the future.

#2 – Approach decisions logically.
Many of us tend to make emotion-based decisions rather than logical ones. In business this can spell disaster. A good way to help you approach decisions in a logical manner may be to write down a list of pros and cons.

Simply grab a sheet of paper and label one side pros and one side cons. Then list all the good and bad points of your choice. Logically think through your comments and then make your decision. This way you can leave emotions out of the equation and concentrate purely on the facts.

#3 – Cut yourself some slack.
Making decisions is a skill which can be learned but even pros don’t always make the right choices. Realize that making decisions effectively takes confidence and is a great first step, but your decisions may not always be the right decisions. If you happen to make the wrong decision, give yourself a break and take comfort in the fact that you thought out your decision clearly and logically and made the best choice possible at the time.

Being a good decision maker takes time and practice. However, it’s a worthwhile skill to develop. Making decisions regularly may help build your confidence level and also help people know where they stand with you – two great entrepreneurial qualities.

7 thoughts on “How Good Are You At Making Profitable Business Decisions?”

  1. Making decision isn’t that easy. It takes lots of time and exposure on problem solving activities before you can really make worthy decisions. But it doesn’t necessarily mean that you can decide perfectly. Of course, mistakes are always there. The only difference is you’ll know how to make an alternative choice.

  2. Hi Vera,

    Great post. I can sympathize with making decisions. As challenging as it is, when you own a small business, it’s neccessary. I have to say, it definately gets easier as time passes! I was always so hesitiate to make decisions when I was younger but now I just go for it. It’s a wonderful feeling of having responsibility. And certainly empowering!

  3. Making decisions is never easy. Whether for personal or business reasons, having to make up our minds is almost always a difficult thing to do. Thus, your advice is both sensible and handy. Thank you!

  4. Brilliant post. Making wise decisions for your business is really tough. You should think on the result when you decide somethings. This is really important.

  5. There are so many factors important in taking big decisions in every aspect of life. Clear mind, knowledge and not only “a feeling that everything will be alright” are the main aspects of every decision. Of course you can always make a mistake, but… In some cases knowledge is just enough.

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