Five ways to make better decisions

Entrepreneurs take important decisions on daily basis and these decisions determine more or less their startups’ success. In business you can’t be 100% sure about the positive outcome of your decisions, but at least you can learn to make the difference between trivial and crucial business decisions and master the way you approach the decision making process.

“Whenever you see a successful business, someone once made a courageous decision.”

Peter F. Drucker

Rely on your knowledge and all available credible data

Base your decisions on solid information and spend the right amount of time to analyze the available data on the topic. Rely on your competence and implement your natural flair for business decisions in your daily activities in order to react faster and have better judgment on topics related with your startup niche.

Stop looking for perfection

Entrepreneurs often seek perfection in their work but, the truth is that in the entrepreneurial world if you wait for achieving perfection you are most likely to miss big opportunities. Your business is in a process of growth and you should be master of your time. Don’t let your need of perfection to take a lot of your decision making time and harm the growth of your business.

Don’t hesitate to ask for help

Your knowledge will not always be enough to give you the confidence you need when it comes to taking very important decisions. Don’t underestimate the power of your team and your partners and don’t hesitate to ask for help when you think you need it. This is why you are building a team, so you can rely on their help and make better work related decisions. Seek inspiration and ideas but make sure that the final word is yours.

Don’t question yourself

If you lack confidence in your decisions and always question your actions, you will feel pressured and cornered at the important moments when you need to take important steps forward. Believe in yourself and trust your intuition. You are the one taking the decisions and you are the one who is responsible for the outcomes. Know that you have done everything which you thought was right at the moment and never think “what if”. “What if” doesn’t change the facts.

Learn from your mistakes

Your decisions are mostly based on your experience. Learn from your past mistakes and try to avoid them in the future. Mistakes are valuable and every entrepreneur should master the skill to take what it is needed from past mistake and to leave behind the rest.

─ December 16, 2014