Decision making is a vital part of living an authentic life. The results that we are experiencing in our business and life are in direct response to the decisions and choices that we have made whether good or bad. Therefore, it is very important for us to be intentional about our decisions and have a step by step process for making sound business and personal decisions. As small business owners or leaders we wear many hats and regularly don’t take the time to understand how decisions will impact our lives. We often have good intentions but make bad decisions for lack of information or time constraints.
I admit there have been many times in my business where I have made fly by the seat of my pants decisions only to regret them later. When I consistently use this 5 step process on small or big decisions I am happier with the results I receive.
One major requirement of all growing entrepreneurs is effective decision making skills. Many times we become stuck in researching, looking for expert advice or just being indecisive. The great thing is these 5-steps enable you to sharpen your decision making skills to ensure your future decisions are not haphazard and based purely on emotion. Most business decisions require a mix of intuition, facts, research and understanding your risks. When you are able to brainstorm, weigh the pros and cons of a situation and see your options on paper you will know your decisions are clear, well thought out and objective. This gives you more confidence in the decisions that you make.
You can use this 5 step process for making important business and life decisions.
The Decision Making Process: 5-Steps to Effective Decision Making
Step 1. – Identify the decision to be made.
- Clearly define the decision to be made.
- State the facts about the decision and the consequences. Determine the desired outcome
Step II. – Research & Identify Potential Solutions
- Perform research to identify potential solutions.
- Create a list of 2-5 potential solutions.
Step III. Weigh Evidence & Choose Solution
- Determine which alternatives will give you the end result you desire.
- Prioritize each alternative from the most to least effective based upon your value system.
- Each option should protect your life, health and overall well-being
Step IV. Take Action
- Take positive action to implement the alternative you chose in Step III.
- Actions should be based on the long range outcome you desire and not just be a short term solution.
Step V. Review Decision and Consequences
- Once you take action review the results to see if you are receiving the desired outcome.
- If yes, you may decide to stay with the decision. If no, you may repeat certain steps in the process in order to make a new decision.
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