Bite the bullet and make decisions
by Shivani Gupta,
Newcastle Herald Small Business Column,
published Monday, 30 August 2010
Over the past few months I feel like I have had to make even more personal and business decisions than I normally do. My reflection on this is important for small business people – sometimes you just have to bite the bullet and make a decision.
Every day small business people are faced with a number of decisions about the day to day operations and the strategic direction of the business. Often, all the decisions are down to the owner. Sometimes the number of decisions seems overwhelming or the consequences of a decision are potentially so significant that procrastination and anxiety sets in. In business, as in life, decisions are not always a “yes” or a “no” situation. With many permutations on a decision we often feel confused.
In the recent federal election there was a significant informal vote which no doubt included some people not wanting to make a decision about which candidate they preferred. But, guess what, by not making a decision they actually made one. The result is a hung parliament.
My philosophy is that a decision, even if it turns out to not be the right one or best one, it is better than no decision at all. If there are too many decisions then prioritise which are the most crucial to make. Write them down and rank them.
To help me bite the bullet on difficult decisions I essentially prioritise what is important and consider the pros and cons of making a decision in a particular way.
I often use a tool borrowed from the smart people at Kepner-Tregoe (an organisation that has developed logical and consistent methods for resolving problems, making decisions, planning and managing.) I have a list of “musts” and “wants”. If a decision does not satisfy my “musts” then it is thrown out automatically. Prioritise your wants and see if the decision achieves them.
For example I was recently invited to speak in Singapore but it was on my daughter’s birthday. One of my “musts” is to be home for her, so I automatically said “no”. I was also recently approached to speak at an international women’s conference in Malaysia to be held at the same time as I was invited to run some coaching workshops for a client. Looking at my priority wants led me to accept the speaking engagement.
What are you putting off at the moment? Take out a pen, write down the pros and cons and bite the bullet.