Any business owner will know that running a business is essentially a process of making one decision after another. He or she who makes the right decisions wins – he or she who makes the wrong ones loses.
The problem is, most decisions are extremely close calls and, in the end, every one is a guess. That’s why we should be careful about over-confidence in any particular decision. Likewise, I would suggest there’s little point in beating yourself up if you make the wrong guess.
You can’t always make the right decision, but you can always make a good decision. That involves a process of triangulation between three things – rational analysis, intuition and experience. Using all three will help corroborate and substantiate a particular choice.
We usually recommend using a weighted decision matrix to unpack a complex decision. It triangulates well, even though it looks on first sight like a simple way of rationalising the options. The intuitive moment is when you look at what each option scores and notice how that makes you feel.
One final point relating to timing. Every decision has its day – for some, it’s definitely today. For others, it’s tomorrow. Up to the point of commitment, every extra piece of information is useful in forming a view. So, don’t become too fretful over an imminent choice you have to make if you don’t need to commit just yet. Use the time between now and then to open up your antennae and take in as much data about the issue as you can. Good luck!