The difference between a more successful entrepreneur and you is that they make decisions and act on them while you are still weighing the pros and cons.
And I get it. As a type A personality, I like to consider all sides of an opportunity, weigh the outcomes, and think everything through logically. It’s handy in most aspects of running a business, but if you take too long to decide if an opportunity is right for your business, it may be too late.
So, for my fellow type As who struggle with making quick decisions, here are some tips for seizing those opportunities before they’re gone.
Weigh the Pros and Cons
Never make a decision- quick or otherwise- without looking at the pros and cons. And, by creating a weighted list, you can easily organize them by level of risk.
For example, let’s say you build a new course. Your list might look like this:
Pros:
- Makes more money
- Fills a gap in the industry
Cons:
- The team doesn’t have time for a big project
- I don’t have time for a big project
Then, you’d go through and assign a “weight” to them. Generally, you’d use a scale of 1-5 where 1 is the lowest weight (and least importance) and 5 is the greatest.
Once everything has a value assigned, you can scan over it and see if it’s worth implementing.
Collect Data
If you’re ever unsure about an opportunity or change, you can always go look at the data.
Gathering data is essential for making quick, yet well-informed decisions. Look at the performance of your previous course launch before deciding if you want to continue down that avenue. Review the analytics from your social media before deciding on your strategy and look at the important metrics that are related to the decision you have to make.
Remove the Emotions
Your emotions can keep you from seeing things clearly, especially if you’re already nervous about change. However, if you take the emotions out of the equation, you can keep from getting bogged down in the endless mire of “What If.”
The best way to remove your emotions is to look at the situation from someone else’s point of view. For example, let’s say you’re trying to decide on investing in something that costs a fair bit of money. Instead of worrying about the cost, take a breath and imagine a client coming to you with the same situation.
What would you tell them?
Whatever your advice is, it’s probably professional and emotion-free. Once you have a solution, put yourself in the client’s shoes and make a decision.
If you’d rather consult with a real person instead of an imagined one, you could ask someone you trust for advice. Lay it out for them with as much detail as possible and see what they think. Do NOT ask a bunch of people for their advice- just one or two who know your business and can give their honest opinions.
Write Everything Down
When you write something on paper, it becomes more real- including your decisions.
List out everything- what you’re trying to decide, pros and cons, potential outcomes, cost, data, goals, etc. That way, you always have a reference to study (or show) and can add to it as needed.
Set a Deadline
Some decisions have built-in deadlines (like partnerships or trends) while others are as-needed (like new email sequences). One way to make faster decisions is to give yourself a deadline.
If you normally take a month to decide on something, give yourself a deadline of seven days. If it takes you a day to decide, give yourself a couple of hours.
Deadlines help us focus our efforts, sort our priorities, and make faster decisions overall. However, you shouldn’t beat yourself up if you miss one. The more you practice, the better you will get at making faster decisions.
Final Thoughts
Making any business decision can be intimidating, but you can’t spend forever wondering if it’s right for you. Using the tips above, you can cut your decision-making time in half (or more) and learn how to take action without stress.
Finally, remember that your gut instincts are your greatest decision-making tool. If something doesn’t feel right or gives you anxiety when you think about implementing it, then it’s probably not right for your business.
By trusting your instincts, you can make faster decisions that will help your business thrive. No one knows your business like you, after all.
