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3 ways to approach big business decisions

There have been many times in my business that I have been faced with big decisions to make – the kind that can change the future shape and potential of the company. At these times it is vital you make the right decision to achieve your desired outcome.

Here are three ways to help you approach big decisions in your business:

    1. Think of the long term first. Meaning, what will the decision mean in 3, 5 and 10 years’ time? Will it create a more viable business? Will it help your business grow faster? Will it allow you to expand your product range? If you think about the long term effect of your decisions you will have a better understanding of it whether it is right for you and your business.
    2. How it enhance your leadership? Any decision you make needs to enhance your ability to lead your staff, your clients and your business. So ask yourself, will this decision enhance my ability to lead the business or will it detract from it? Your business started because of your vision and passion – the decisions you make must enhance that vision.
    3. Allow yourself time. The older I get the more I realise that the big decisions need time. Don’t rush into an outcome or else you may uncover some unnerving facts later on. At the same time you don’t want to be paralysed into no decision at all. Set yourself a time frame – a reasonable one – depending on the size of the decision. Whether it is a month or six months, there is comfort in knowing you have the necessary time to make the right choice for your business. Take your time, do your research, talk to people you respect, and once you have all the information you can handle, make a fully informed decision.

Life is full of decisions and business is the same. The choices you make today can make all the difference to the prosperity of your business tomorrow.

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