How To Make Difficult Decisions With Confidence

As business owners, we make difficult decisions all the time. Some are straight forward and are easy to make. Others are can be more complex especially when dealing with employment issues, strategic planning, financial situations and business direction just to mention a few.

It’s normal to get caught up in all the options and “what ifs”. We can run in circles for long periods of time not able to make a decision. The fact is that making decisions is a process. If you use a specific process to clarify, define and develop solutions and action plans your difficult decisions can be made faster and with confidence.

A 10-Step Process to make difficult decisions

  1. Use a sheet of paper to write down your thoughts and follow these steps:
  2. Knowing what you know now, would you make the same decision again? If no, then correct it
    Define in detail what the problem/dissatisfaction is.
  3. Why is this problem/dissatisfaction causing you frustration or stress?
  4. What is the impact of not resolving the above?
  5. How would it impact your life/business if you could resolve this problem/dissatisfaction?
  6. Can you name the roadblocks preventing you from resolving the above?
  7. What steps CAN you take to overcome the roadblocks?
  8. What is the cost to remove the roadblocks vs. the payoff for improving the situation? Is it worth it?
  9. What steps WILL you take to overcome the roadblocks?
  10. What is the single first step you can take and by when?

Even with an effective process it can still be challenging to make difficult decisions alone. Go through this process with a trusted advisor who is detached from your situation. Family and friends are NOT recommended. Have them provide feedback without judgement. Trust your gut; it is correct more often than not.

Tony Malyk
 

Tony Malyk is a Certified Professional Business Coach and Business Value Accelerator specializing in improving profitability and increasing business value in the manufacturing, distribution, trades and technology sectors.