I’m continuing the series on good decision making.
In a previous video I covered why having a clear vision, core values, focus and mid to long term targets allows you to make better decisions. I also spoke about the importance of taking time out to just think.
Transcript
This is Rashid Kotwal.
I’m continuing the series on good decision making.
In a previous video I covered why having a clear vision, core values, focus and mid to long term targets allows you to make better decisions. I also spoke about the importance of taking time out to just think.
Today I’ll cover the 10 commandments of good decision making. Here they are.
1. You can’t rule by consensus.
In a healthy team you’ll discuss issues and most of the time everyone will be on the same page. But sometimes they won’t and you’ll have to make the final decision. Consensus management doesn’t work. Period. Eventually it’ll put you out of business.
So step up and become the leader.
2. You cannot be a chicken. Solutions are often simple but not easy. The way I put it is you have to be ruthless with heart. Making tough decisions for the greater good is essential to your long term success.
3. Be decisive.
Analysis of several hundred millionaires reveals that every one of them made decisions quickly and changed them slowly. Procrastination doesn’t cut it.
4. Don’t rely on second hand information. If the issue involves others, get them in the room, discuss and solve it. See point one, be a leader.
5. Fight for the greater good. Put your title, ego, emotions and past beliefs aside. Focus on your vision and targets and make decisions accordingly.
6. You can’t solve everything. Figure out the most important issue and solve that. Then move down the list.
7. Change it, end it or live with it. There are no other options. Choose one. And if it’s live with it option, stop complaining.
8. Take the hit. A mentor of ours was fond of saying, pay once, cry once. Ripping the band aid off hurts for a moment. Long term suffering is counterproductive.
9. Confront your fear. In tough times the primal brain may take over and people freeze. You must shift thinking to your pre-frontal cortex and think rationally and critically. Be open and honest, and take time out to think and/or discuss it with your team.
10. Take the shot. Don’t sit around endlessly discussing options. Make the decision and take action. If you’re right, great. If you’re wrong, you’ll know soon and can change course.
Okay, that’s it.
In our next video I’ll continue with the three step process for good decision making. Look out for it.
Till next time, this is Rashid Kotwal.
