Do You Wait Too Long to Make a Decision?
Some feel overwhelmed about a situation or problem and, instead of facing the issue, push it aside until it is too late to correct.
Boil the situation down to the smallest parts. Big decisions are often a group of little decisions clustered together, which makes the decision seem daunting. Break decisions down into parts and DECIDE!
Don’t over-analyze! Leverage your mentor network for the complicated or difficult decisions, but then decide! Ask questions and dig deep when the data doesn’t seem to fit the recommended decision. Analysis paralysis kills good decision-making, so contemplate the alternatives, consult if you must, but decide before the team loses faith in you. DON’T GET SLOWED DOWN by inhibitors like perfectionism, artificial urgency, procrastination or analysis paralysis. Don’t get slowed down by the desire to be popular, or pessimism and negative thinking.
Good executives know that they can solve most problems, make sound decisions and trust that they will be right MOST of the time. Do the math. Assume that you’re right on 9 out of 10 decisions, and you get a second chance when you make a bad decision, and a third chance when you make another bad decision. What is your percentage on three tries? That’s right, it’s 99.9% perfection. Can you live with that? I can and so can your team. Your batting average is still .900!
Decision-Making venture to the CEO of a global conglomerate must work with current and accurate information to make the best decisions. Remember that a decision delayed is often the same as a decision made poorly. Make decisions with deliberate speed, neither rushing nor procrastinating. Balance is the key. As an executive, you must realize that being able to quickly come to grips with a problem and making a sound decision about how to remedy it is critical to your success in leading your followers.
Great decisions are guided by a trusted decision making system. Use it consistently to make decisions based upon data without over-emphasizing emotions. Awareness of issues is critical to great decision-making. Any manager who believes he doesn’t have problems in his business isn’t looking hard enough or isn’t listening intently enough. We tend to over-emphasize emotion and people’s feelings when we make decisions. Don’t get caught up in the emotions, make balanced decisions that consider people’s feelings appropriately, while focusing on what’s right for the customers and the team. Do what is RIGHT, not what will be popular or convenient. In the end, respect and trust build teamwork and results. Nothing earns respect more than a tough but fair decision. Your people are always your most valuable asset, and you need to treat them right, but decisions that pander to their emotions often fall short. Earn their respect by doing it right!
- Here is an example of a great five-step decision-making system:
- Identify the opportunity or issue that requires a decision and address it positively.
- List alternative solutions and gather information and data on each option.
- Evaluate the potential advantages and disadvantages of each alternative.
- Decide and Act. After timely consideration, make a good data-driven decision and act! Monitor results, evaluate the decision and adjust as needed.