The Path to Speedier Decision-Making
As the pace of business increases, so does its complexity and uncertainty, making it more and more difficult to produce informed decisions. How do you make not only the right decision, but also a quick decision—one that brings order to chaos? The pressure to act decisively, coupled with a fear of “getting it wrong,” leads many business owners to push off key decisions until later, second-guess choices they’ve made, or worse, leave them for fate to resolve.
While you can’t know the consequence of every choice you make, it is important for you to keep moving forward by consciously making decisions that will guide your business into the future.
- Calculate the costs of inaction. “One of the biggest issues business owners have is that they become so paralyzed in making a decision, they choose not to make it at all,” says Nicole Spracale, a management consultant and executive coach based in Tempe, Arizona. “To tackle this we ask, ‘How much is it costing you not to act?’” For instance, if you’re facing a difficult marketing decision, consider what it is costing you each day by not finding a qualified outsourced solution. If you have an underperforming vendor or supplier, what is it costing you to maintain that relationship?
- Take small steps instead of big leaps. Indecision frequently happens when a particular path requires a large investment in time, money and resources. But there is growing consensus among experts that these decisions do not need to be as momentous as we make them. Instead, break down a project into its component parts, and complete them over short, iterative cycles. At the conclusion of each cycle, you should have a workable result that can be deployed, altered or abandoned before moving on to the next.
- Delegate more. As a leader, you may feel that all decisions rest with you, when in fact you might not be the best person to make certain decisions in the first place. After all, who knows more about a customer’s needs than a customer-service rep? By empowering every employee with decision-making latitude, your organization will make faster—and often better—decisions.
- Communicate your mission. Delegation, Spracale warns, is only effective if everyone understands where the company is headed, and why. “If there’s a clear sense of purpose in the organization and everybody is on the same page, then you can trust people in the organization to come up with ideas and execute.”
In the end, speed isn’t the enemy of precision when it comes to making decisions. The key is to instill accountability in yourself and your employees. This can lead to an increased ability to learn, pivot, and follow through on those decisions that propel your business forward.
Lincoln MKC Brings Order to a Chaotic Road
You don’t always know what’s coming your way every time you get behind the wheel, but the Lincoln MKC helps you control those variables and make fast, safe decisions on the road. Features like the available Lane-Keeping System, which can detect when your car is drifting out of its lane and can help warn you through a subtle vibration in the steering wheel, and available BLIS® (Blind Spot Information System) with Cross-Traffic Alert, which uses radar to identify a vehicle entering your blind spot and alerts you with an indicator light in the sideview, allow you added convenience while moving in the right direction.
Learn more about the Lincoln MKC here.