As a manager or leader, you will undoubtedly have to make decisions on behalf of yourself and others. Sometimes, these decisions have to be made under pressure. Nevertheless, you also want your decisions to be well-informed and educated, after all, making decisions on the spur of the moment without consulting others can be detrimental. Keep in mind that the decisions you make will not only impact others but also your company’s future.
Have you ever asked yourself what strategies you can use to make informed decisions and how to hone your decision-making skills? If you would like a few clues, we have rounded up seven tips that will help you make better decisions.
Reframe the Problem
Sometimes, when confronted with a problem, your gut reaction is to try to solve it immediately. Nevertheless, the key is to pause for a few moments and think about its full context. When you give yourself a chance to think about the problem from different perspectives, this allows you to gain a wider picture and ensures that you are not emphasizing one aspect and neglecting another.
Make Evidence-Based Decisions
Evidence-based decisions are unique because they allow you to make decisions based on facts and data. In essence, they are tools for making informed decisions. Rather than simply relying on your instincts, like most people do, evidence-based decisions impel you to incorporate evidence. As a start, you will need to use performance data to support your decisions.
You will also need to challenge your gut feelings. If a course of action is suggested, evidence-based decision-making compels you to verify whether data supports it. Once you have a clear picture, ask yourself if the commonly used business strategies would work in your situation.
Challenge the Status Quo
In many cases, people tend to follow the status quo when making decisions. Nevertheless, challenging the norm sometimes yields better results. Ask yourself whether it would be better to choose a different course of action if it is already not being followed. For example, if you are starting a new project, would you use the same tactics as an older project, or would you try to employ new strategies?
Get an Outside Perspective
Consulting others when making decisions is a wise move on your part. When you make it a habit to consult your employees, you foster an atmosphere of trust and openness, even when the truth might seem unpleasant.
Develop an Eye for Risk
Not all decisions will be sound. That’s why, when making a decision, it is wise to look at the issue at hand from different perspectives. Even a good plan will have its own costs and potential problems. For instance, if your company is considering switching shipping carriers to reduce costs, consider how you will determine if your decision is correct. Would your client or customers report more delayed orders? Would there be tangible results for cost savings? When you ask yourself such questions, you can identify potential pitfalls and avoid them.
Let Go of Past Mistakes
Many people tend to look at the past even when a decision hasn’t worked in their favour. However, looking nostalgically at the past doesn’t always work. The best thing to do is to move forward; when a decision has been made in the past, regardless of its outcome, acknowledge it and move on. Avoid spending time thinking over it, recognize that you made the best possible decision under the given circumstances, then review the situation to see whether a different decision is now warranted.
Be Honest with Yourself
Before you make a decision, take time to ponder over your motivations. Ask yourself integral questions like “Is my mind already made up? Am I being objective? Am I focusing on the best possible solution for my business?” Being objective is the key to making decisions that are fair, accurate, inclusive, and trustworthy.
David Messiha | Staff Writer
