Learn How to Make Business Decision Effectively

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Starting a business can give us all sorts of anxieties, often beginning with ‘where do I start?’ but you don’t have to continue down the path of uncertainty and second-guessing yourself, because there are many other things you can be wasting your time in instead, such as which holiday to book for next year!

How to make business decision effectively
How to make business decision effectively

How Should We Make Business Decision?

But if you do find yourself overthinking and unable to make a business decision quickly and decisively, then there are a few things you can do to make sure you aren’t getting too sidetracked.

Many business owners in the past have faced a similar situation, and here are some ideas that may help you become a commanding and confident decision-maker in your business.

 

Get Your Facts Straight

If you know exactly what your options are, and you are able to draw from actual information and data, then this will give you much more confidence in your decision.

When it comes to making a decision that could use a little more input from a specific, or even more random group of people, then you can look into building targeted surveys on platforms such as Pollfish, which will give you a cross-section of answers from a survey audience, giving you a better understanding of people’s opinions.

This means you can ask questions from a survey audience about upcoming product launches, business startup ideas, or even marketing techniques, and understand exactly what you need to do to move forward.

Business decision: Get your self straight
Grow your business

Market Research

Market research is a powerful tool, and even though these methods are different to those from previous times, it is still important to keep this tool to hand, so you can refer back to it periodically.

Because one thing is for sure, you’re going to have to make decisions on a regular basis as a business owner.

In addition to this information and data, it’s important to remember that you are speaking to real people, and so if you are making decisions based on these conversations, and statistics, that you allow a certain margin for the ‘unsure’ answers or those that do not know how to answer the question.

Market Research
Market Research

Taking Care Of Yourself

Sometimes it is easy to run yourself into the ground, especially when you want to succeed in business, but it’s more important than ever to take care of your self.

Making big business decisions can really take its toll, So the next time you are stressed and find yourself unable to think straight you will know it’s time for a little break. Because if you are too stressed to make a decision with a clear mind, then you will find yourself full of regrets.

Although running a business of any size is more than a full-time job, it is always important to take breaks. Not just the odd day off where you find yourself glued to your phone rather than your laptop, but an intentional time where you can actually switch off completely.

So many of us find this really difficult, and we are truly in a position of responsibility so it’s understandable, but there are plenty of mini-breaks you can incorporate into your daily life, such as leaving the phone out of the bedroom and getting a good night’s sleep, taking an hour to go for a run, or cooking yourself and your loved ones a nutritious meal.

Take care of yourself and make the best business decision
Take care

You will thank yourself for taking this time.

Many successful business owners will tell you that getting up early, taking care of yourself and your needs first, and then tackling the day ahead can improve your mental clarity and your overall wellbeing.

In recent times we have seen many health coaches and life coaches appearing who help us learn to ‘switch off’, and this can be a great investment for you, especially if you feel the balance is lacking in your work/ life situation.

Above all, you need to consider what works for you and how you take care of yourself is going to be different to the next person, but adding in some mindfulness and activities you enjoy to your daily living will be a gift to yourself, that you didn’t know you needed.

Healthy and happy people are able to make great decisions with a clear mind and conscience.

Make the right decision
Make the right decision

Don’t Go It Alone

As a business owner it can sometimes feel lonely and that the responsibility is on our shoulders, but this doesn’t have to be the case, if you have a business partner then, of course, they should be consulted about the decisions you are making, but if you don’t there are many other people you can talk to to be able to make the decision carefully and with consideration.

Even if you just talk to your family members you will find that you are able to come to a clearer solution because you have ‘bounced’ ideas off them, quite often this is all we need, and sometimes the other person can bring a perspective to the situation that you may never have thought of.

There is such a thing as being ‘too close’ to a situation, and when your business relies on this decision making it can add an extra level of emotion.

This is where business consultants can help further down the line because these consultants are able to talk to you from experience, and what better way to get help than from someone who knows exactly what they are talking about and have experience in the field?

Don't go it alone for making business decision
Don’t go it alone for making business decision

Whatever you do, and however you choose to run your business you are going to need to make business decisions regularly, not only that but every decision will have a long term effect on your success, but rather than panicking and worrying about these decisions, try thinking carefully about the points in this article and be confident that you have done everything you possibly can to create a positive and productive environment for you to make these decisions.

But always remember to take care of your wellbeing first and the rest will fall into place over time.

Photos: Shutterstock 


 

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