Being decisive in business - feeling the fear and doing it anyway
I re-read one of the (many) business books I have at home a few weeks ago. It was one of those awful hyperbole-packed types where some boastful arrogant entrepreneur wanged on about how he was such an incredible success. A bit tedious and predictable, if I'm honest. But there was one thing that really stood out to me from the book, and it was this: Feel the fear and do it anyway. It's quite meaningful, don't you think? The fact is that in business, fear of a certain situation doesn't make it wrong. To make progress and bring your vision to life, you sometimes have to make tough decisions, that both thrill and terrify you at the same time. The decision to invest in a brand new programme, hire a high-end business consultant or move premises. Just because it's a leap of faith doesn't make it wrong. Of course, you still need to be fairly calculated about the bit scary risks that you take. None of us have the resources (let alone the strength of character) to continually chuck ourselves at risky projects without being reasonably sure that they'll be worth it.
Be logical with your decision making. Thinking in terms of pounds, shilling and pence reassures most of us. What return do you need to make on your investment? If it doesn't pay off, how many projects must you win/ units must you sell to cover the costs? If it doesn't pay off, can you swallow the financial outlay and still pay the bills?
Have vision. Where is it that you're heading? Does this decision help you on the way to make your vision a reality?
Trust your gut. This is a biggie as it's unquantifiable. which in itself is scary in business. Does this decision make you happy? If you could have things any way you wanted, would you still be making this choice? You can take all the guidance in the world, but if a decision doesn't feel right, it probably isn't.
We've had to make lots of scary decisions along the way - as I'm sure you have. What's your sense check to qualify a big decision in business?