Decisiveness is one of the top qualities of a successful entrepreneur.
In order to succeed in business, you need to make decisions quickly. If you struggle to make tough calls this will be slowing your business progress.
We are here to help. Read on for 5 tips on how to be more decisive as an entrepreneur.
1. Understand the Root Cause
Ask yourself: Where does your hesitation come from?
If it is due to the feeling that you aren’t capable, then prove to yourself that you are. Put yourself into a position where it is impossible to waste time overthinking.
If it is fear that you will fail, then split your goals into smaller, easier to asses steps. Progress through these as fast as you can, implementing what you learn as you go. This will help to boost your confidence.
2. Perfect is Impossible
When it comes to acting decisively, perfection is not your friend. All business decisions are imperfect in one way or another. It is only natural to want to find a perfect solution to any issue. Unfortunately, any “perfect” solution generally isn’t realistic.
Rather than waiting for the perfect solution, once you have one that is “good enough”, you need to go for it. Remember, all your competitors are dealing with similar time constraints. If they act first, they will be the ones to benefit from their speed.
3. “Advise a Friend”
You have probably noticed that it is easier to give advice to others than it is to make your own decisions. This is because emotions are removed from the decisions making, allowing you to be more objective.
When making your decisions, try to think what you would do if you were advising yourself. Like any skill, the more you do this, the easier it will become.
4. Limit Your Data
It is only natural to want to review all of the relevant data before making a decision. However, having too much information will actually make it more difficult to act decisively. Too much information can cause “paralysis analysis”.
Make sure to get comfortable with the amount of information you can actually process. This will make sure that vital information never gets crowded out. Demanding to see all the available data will only slow down decisions.
5. Wrong is Better Than Nothing
There are very few decisions in business that cannot be modified or even totally reversed. It is indecisiveness that can permanently damage your business.
A sign of a good leader is to recognize that making the wrong decision is inevitable. It can even be a good thing in the long run. Understanding this allows you to make decisions faster.
Although a decisive leader may not always make the right decision, they will ensure that their company is on a forward trajectory.
How to be More Decisive in Business
Follow these tips on how to be more decisive and your business will benefit.
Speed is everything when it comes to business, so by logically processing only the most useful information, you will be able to act as quickly as possible.