From trivial, daily decisions to important choices, as a single person or in a group, our lives are governed by the decisions that we take. However, some people find themselves lost and confused, when it comes to decision-making. Though decision-making is a skill that not everyone is born with, a good thing about it is that it can be cultivated. The more you take decisions, the more you sharpen your mind to make it faster and more accurate the next time. If one has the luxury of time, a well-informed decision can be taken. However, that’s not the case always and, sometimes, we have to make the best of whatever resources we have to decide. Especially for entrepreneurs, startups and smaller companies, this can very well mean a single entity choosing the fate of a business.
But how can one improve this skill? What do good decision makers do differently than others? Here are a few pointers that our Saransh experts suggest, which can help you in honing your decision-making skills:
Identify what the exact problem is
Whenever you’re faced with a difficult situation, the most important thing is to look at the problem from all possible angles, and identify what is the exact problem that you’re trying to solve. As an example, if it is seen that employee leaves are on the rise, the problem might actually lie in the office work-timings, or company policies. Thus, sometimes, the superficial issue might only be resolved by solving the actual underlying problem.
Explore the alternatives
The old adage of ‘Haste makes Waste’ fits perfectly in this situation. When it comes to decision-making, there is never only a single answer. One has to choose the best one possible. So, when faced with a hard decision, its best to first think of all the alternatives that you have, before finalizing on a decision. However, it also helps to eliminate the less suitable options, one-by-one, so that you are left with lesser options to finalize on.
Think of short-term effects vs. long-term consequences
Whenever you’re taking a decision, you have to think of short-term comforts and the consequences in the long-run. Making a decision always costs something and that what makes it hard. You have to think of different aspects and people who would be affected by your decision and choose the one that has the least repercussions.
Ask for opinions, but don’t blindly agree
If the situation permits, it’s better to ask someone trustworthy and capable for their opinion. This helps in providing a different perspective to the problem at hand, as well as helps you in case if you have missed out on some crucial point. Sometimes, online discussion forums can lead you to people having faced with similar circumstances. However, one has to remember that the opinion of others might not be the same as you. You, as the final decision-maker, cannot let your judgement get clouded or influenced by others, over a certain limit.
Taking responsibility
Even when you’re unsure of your decision, in the end, once you’ve taken it, the most important thing is to accept the outcomes, whatever it is. Most often, people tend to keep on thinking once the decision is taken, as to what else or how differently it could’ve been done. But it is always a lost cause. In case of a bad decision, its better to look forward and to avoid repeating the same mistakes.
Decision-making is part of every aspect of a business. Some might be taken based on factual insights, while some need to be taken based on gut feelings. However, be it an employee or a manager, one has to keep in mind the betterment of all the people involved.
If you’d like our experts’ help in taking strategic decisions for your company, feel free to write to us at info@saranshinc.com.