When there is a lot of responsibility and money resting on your thumbs up or thumbs down, it can be easy to become crippled with anxiety about the decision you have to make. But high-level decision-making does not have to be so terrifying all of the time. Just watch out for the common mistake below when making your business decisions, and you should be set. Read on to find out more.
Procrastination
Procrastination is a mistake that can be hard to spot, both in yourself and in others. It can look like being conscientious, doing your due diligence, or even being unorganized. But it’s procrastination if you are using any of these strategies to put off making an important decision.
The problem with procrastinating that the world is always changing, especially in business. Meaning that the longer you delay the further away you get from the original choice you had. Yes, it can be comforting to wait until you have reassurance from others until you make your call. However, as a high-level decision maker, you are going to need to be able to trust your gut on occasion and put yourself on the line for what you think is correct. So don’t put off decisions you could make for the betterment until tomorrow if you could do them today.
Being uninformed
Another major no-no in high-level decision-making is picking an option without being properly informed about it. Basically, you are going in blind with little or no prior knowledge and the same consideration of the effects such a choice will have on your enterprise.
Unsurprisingly, this is a really bad idea, as it can do untold damage to your company and to your professional reputation. That is why is a must to get up to speed before you make any financial decisions.
To do this make involved researching around the area, checking on the financial markets, as well as collecting data from your own business to inform your decision.
A great way of doing this is to get some of the key members of your organization on a Tableau course training session. As then they can use software to start to provide you will up to date and usable data showing what is actually occurring on the front lines of your company. Something that can help inform you and lead you to make much better decisions for the business as a whole.
Not evaluating
Lastly, when making high-end decisions, you have to be willing to look at the problems and well as the positives. Especially, as those opposing your decision are likely to bring these up to devalue your decision.
This means evaluating each decision thoroughly including the new threats to your company’s success it may cause, and weight these up against the benefits. A good method for doing this is using a SWOT analysis. As that include strengths, weaknesses, threats, and opportunities. So by using this in your high-level decision-making, you know that you will have all bases covered.
