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5 deadly business mistakes most entrepreneurs make and how you can avoid.
1. Failure to have an exit strategy.I'm amazed when most people get started in business for the wrong reasons. Maybe because they want to make money or they want to be their own boss. Or maybe they lost their job or their boss fired them,and they...
Accessing Your Own Wisdom
"Let nothing come between you and the light." -Henry David Thoreau Sometimes I spend quite a bit of time working with my clients on personal productivity issues like time management, prioritization, and effective systems. We do this because it is...
Coping with Meeting Disrupters
here are several common difficult behavior patterns that are demonstrated at meetings. Here are a few with suggestions on actions to take to alleviate the problem the behavior presents. 1. There are those who like to ask questions which may or may...
The Pendulum Swings Right
The Pendulum Swings Right
A major shift is happening inside our brains.
By Marianne St. Clair
The world is now changing again, it appears. The logical and analytical skills that continue to form the basis of Western economies is slowly...
Time Managment Training - A Necessary Investment or A Waste of Money?
Many organisations view time management training as something they'll spend their money on, only if they have to. Usually when pruning the company or department budget, training is often the first area that gets the chop. And yet can you really...
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Many options yield better decision making
Are you option starved when it comes to making decisions? There are a lot of factors that contribute to good decisions. Problem definition, background data, situation analysis are essential elements in decision making. However, the critical element is having a wealth of alternative options from which to make a final decision. If you would like to improve the quality of your decisions, develop your skill in listing exhaustive alternatives.
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Do you make decisions after considering only two or three alternative options? How often are you forced to say, “If we had only thought of such-n-such would we have made a better decision?” Increase that ‘two or three’ to ‘at least, ten.’ and note how quickly that improves your decision making ability. Also, notice how much easier and pleasurable your decision making becomes.
The alumni of my management classes continue to thank me for improving their ability to make good quality decisions. Seldom do these grateful persons recall the agonizing struggle they suffered when they were first introduced to our decision making discipline. Nor do they recall the moment they first discovered decision making was simple and easy once they had ample alternative options or solutions.
When management students submitted papers on case studies, projects, proposals, business plans, or any exercise requiring a final decision they were required to evaluate 14 alternative solutions. We arbitrarily set the number to 14 for consistency and fairness.
How many are best for you? Base your own quota. on whatever is comfortable yet challenging or is commensurate with of your task. Your personal development is the important issue. Habits resulting from the discoveries and discipline
are rewards that remain with you for the remainder of your managerial life..
Some ways to create alternatives:
(1)Start your list with the mandatory but, oft overlooked, option to do nothing.
(2)Include whatever pops into you mind. The seemingly unrealistic, even ridiculous, ideas can always be deleted later or they may be refined to being viable. Experts in brainstorming tell us to avoid discounting ideas as they are first presented because that interrupts the flow of ideas. They might stimulate your sub conscious to create those great innovative solutions.
(3)During the follow up exercise of listing the advantages, disadvantages, possible outcomes and consequences for each alternative new options will come to mind.
(4)Consider the opposite action for some alternatives.
(5)Include all forms of action. Example: for buy, the options are rent, sell, lease, borrow, share or contract.
(6)Form combinations of one or more single alternatives.
The bottom line – what’s in it for you?
A wealth of alternative options yields decision dividends by improving the quality.
Enjoy the excitement and self esteem resulting from your creativity.
Avoid the stress of indecision.
You’ll have an increased desire to make more and bigger decisions.
Gain greater confidence.
Discover that the key to working smarter is making better decisions.
Ask yourself, “what other business activity earns more money than decision making?”
Invest in good decision making with numerous deposits of alternative options – today!
About the Author
Gerry added practical wisdom to his college and univeristy courses by owning and operating small businesses. That wisdom is now online at
www.UncleMaxSays.com
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