The Do's and Don'ts of Decision Making
Decision making is a skill and process imperative in today’s dynamic, fast-paced business environment.
Industries are competitive, and players are differentiated by their ability to make strong, calculated and proactive decisions.
Perhaps you have difficulty making good decisions, you experience self-doubt during and after making one, or your past decisions have failed you.
The good news is that decision-making is an ability that you don’t need to be born with – it can be practised, refined and mastered.
All decisions carry some type of risk or compromise, and often, complex decisions act as a catalyst for future opportunities or challenges, so when approaching them, confidence and clarity is crucial.
To guide you through a successful journey, we’ve complied a list of do’s and don’ts…
Don’t assume you know all the information.
If you’re making an important decision, every detail is important. Avoid surprises, because if you’re missing any relevant information, your decision is already flawed.
Do frame the problem.
The first step to effective decisions is truly understanding what is involved, clarifying all possibilities and outcomes, even if this adds time to your process. What type of decision is being made – routine, strategic, tactical or operational? Spend time on clarifying the facts, it’ll be worth it.
Don’t make off-the-bat choices.
When you feel pressure, it’s common to take the ‘flight’ response and make a hasty decision. These types of decisions commonly come back with a vengeance – you’ll pay for them later. Remember, approaching a decision with a steady and measured approach increases your chances of a steady and measured outcome.
Do trust your instinct.
While you don’t want to rash choices, you will want to check in with your instincts and pay attention to your gut feeling. Deep down, we often know the right course of action to take, all we need is to be able to evaluate that objectively.