Making Better Business Decisions

Sometimes in business we make oddly poor decisions. Perhaps we hired that PR firm on their promise to do amazing things. Or we invested in a “home-run idea” that we heard about. When we look back on some of our choices and decisions we wonder later – why?

I think part of the reason for poor decision-making comes down to moving too quickly through our workload to get everything done. In our attempt to do more, we may not stop to think, consider and fully evaluate the decisions we are about to make. We rely instead upon gut decisions that sometimes work out, but also can have very negative repercussions.

My son when he was 18-years-old summed this up nicely by explaining a decision made by one of his hockey teammates on spring break by declaring, “It’s not a bad idea if you don’t think about it, Mom.” And there it was. But is this also how business people act (while not on spring break).

My son explained the situation truthfully. However, not thinking about the consequences really isn’t a sound practice for making decisions. Not in our personal lives, not in business, and certainly not in our business development efforts.

Do you give yourself the time to logically consider business decisions along with your gut feeling that may lead you? I’m not advocating for overthinking decisions, just fully considering the options and weighing the odds of success. Then with sound mind, deciding whether we will take the chance or not.

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