Life can literally throw us all sorts of complications and whether you are a CEO, supervisor, or a brand-new intern, making important decisions is a daily life responsibility and the higher up the ladder you are, the higher the stakes are with every decision.
As a business leader, you must make reliable, consistent and faster decisions because you need to stay ahead of your competitors.
Nowadays, with technology progressing so quickly, we have so many ways to get immediate satisfaction and as managers we need to find ways to make good decisions faster with more knowledge and insight because that is what our customers are demanding.
It doesn’t matter if the decisions are big or small, they need to be smart, or you will not move your business forward.
Sometimes it can be beneficial to delay a decision. You don’t want to regret anything, so never make an important or quick decision if you are…
- People pleasing
You want to make smart and purposeful choices, so make sure you…
- Get a good night’s sleep
- Partake in a cardio workout
- Make sure it aligns with your strategic plan
You will have to make decisions repeatedly at all levels. Try breaking them down to three different levels…
- Strategic: These decisions are big choices for your company. They are multifaceted and complex. They also could have a lasting impact and are usually taken by higher level in the organization.
- Tactical: These choices are about how to manage procedures to accomplish the strategy. They may involve significant resources, have moderate consequences and may be taken by senior or middle level leaders.
- Operational: Here you have more routine and accepted rules. These decisions involve more controlled resources and have a quicker function and can be administered by middle- or first-line level leaders.
Perhaps we don’t talk enough about our decisions and the importance that they have on our business growth. I believe that there are four types of decision making:
- My decision
- My decision with your input
- Your decision with my input
- Your decision
Make sure that you and your direct reports are aware of which level of decision is being discussed…Strategic, Tactical or Operational as well as which type of decision making this involves.
It can be validating when you have the knowledge and are in control of decisions for your company.
When you can make smart decisions, it directly influences the direction in which your business grows.
What strategies do you use to make smart decisions for your company?
Dave Baney is the founder and CEO of 55 Questions, LLC and author of “The 3×5 Coach: A Practical Guide to Coaching Your Team for Greater Results and Happier People”, which is now available in Paperback or a Kindle version at https://tinyurl.com/y8ecykfy
At 55 Questions, we work with successful top executives with a driving ambition to crush their competition. We help CEOs and Entrepreneurs improve alignment, communication and accountability throughout their organization. www.55Questions.com
Follow Dave on LinkedIn https://www.linkedin.com/in/davebaney55questions/