Do you feel this way about big decisions?

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Do you feel this way about big decisions?

NOT doing anything is worse than doing something badly or making a mistake (unless ‘mistake’ equals pain, loss of life or huge losses of cash!)

Don’t defer the big decisions until ‘one day’. There are many common reasons why you may be deferring making a decision on something that could increase your income, grow your business, make you very happy or change your life:

  • perceive that the possible outcome could be ‘too big’. For example, you wish for things to happen in your life and business but never make a decision that you will go after them, because you’ve never been in that territory before and have absolutely no reference points for how to make it happen. Too big, too far beyond what I know and what I’ve ever done = shut down. Never decide to go after it. Stay in comfort zone.
  • fear making a decision – what if it doesn’t work; what if it doesn’t pan out like I want it to; what if we lose money; what if the outcome takes me to a much bigger place, etc
  • don’t have any experience in making big decisions and like any unused muscle, it is weak. You shy away from decisions.
  • don’t have anyone to discuss these decisions with, who can add value to the decision making process

Two strategies to help you make big decisions:

  1. You need a set of criteria for making decisions for our business. I presented a set of decision-making criteria to a CEO and his executive team, who were grappling with a decision on which of their many opportunities to pursue. They couldn’t decide so had done nothing about any of them. As soon as we worked through the criteria, the CEO was astounded that he had a framework for strategic decision-making, that he could use in the future to make big decisions in a relatively objective way.
  2. Make a trial decision, sleep on it, and see how you feel about it in the morning. Whenever I am grappling with a decision I sometimes make a trial decision, and then ‘let it go’. I didn’t think about the decision again but wait and see how I feel about it the next morning or over the next day or two. If you begin to feel energised and excited then you have probably made the right decision; if you still feel uncertain then your trial decision is probably the wrong one.

It’s the big decisions in our life that create personal and business growth. If you keep failing to make them, you’ll fail to grow.

When you next have a significant decision to make, ask yourself these questions:

  • is it likely that this decision could result in you losing or making a lot of money
  • how high is the risk of loss
  • how likely is the upside
  • will it move you away from your core business or strengthen it
  • does the decision excite you (even if it scares you just a bit)

Don’t make big decisions on a whim but do make them in a considered way and assess the potential risk. If your intuition is telling you it’s right, and it feels right, and you feel excited as opposed to fearful, that augurs well.

A final word: remember when you ask others their opinion they’ll give it to you and it may not be what you want to hear and it may not be positive. Ask one or two people whose judgement you trust, and leave it at that.

It’s your decision, not theirs.

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