5 Steps to Make Great Decisions
The ability to make great decisions is powerful for personal as well as business growth. Below are five simple but powerful steps to making almost any type of decision.
Step 1: Collect the Facts and Data
Step 2: Make your Assumptions
Step 3: Identify your Options
Step 4: Use Logic and Common Sense and your Feelings
Step 5: Make your Decision
Let's go into a bit more detail!
Step 1: Collect the Facts and Data
The first step used to make an informed decision is to gather the facts and data. These include but aren't limited to:
- What do you need to know to make an informed decision?
- Where can you learn the most pertinent facts and data quickly and effectively?
Step 2: Make your Assumptions
The assumptions used to make a decision are important. Assumptions include, but aren't limited to:
- How much time, money and resources, are needed?
• Are my assumptions valid?
• If so, why?
• If not, why not?
Step 3: Identify your Options
Many decisions have options. By Collecting the right Facts and Data (Step 1) and Making good Assumptions (Step 2) you will be able to determine the most viable options.
Step 4: Use Logic and Common Sense and your Feelings
Combine your logic and common sense with the facts and data, assumptions, knowledge and experience.
Ask yourself questions like:
• Does this decision make sense?
• If so, why?
• If not, why not?
Address any risks. Ask questions like:
• Are there any risks involved?
• If so, what are they?
• What can be done to minimize or eliminate these risks?
Also, incorporate your feelings and emotions into the decision. Feelings are an important part of any decision. However, they need to be backed up by knowledge, logic and common sense when using these decision making steps.
The amount of time and energy invested in making a decision should be in proportion to the importance of the decision.
Using these decision making steps will help you to make wise thoughtful decisions that you will feel good about now and later.
Step 5: Make your Decision
There are two primary types of decisions are:
1. A yes or no decision. For example, to start a business or not, or to expand your business or not.
2. Selecting from options available. Which options should be selected?
Once you have gathered the facts and data, made good assumptions, used logic and common sense, and incorporated your feelings you are ready to make a decision.
If you would like to learn more on how to apply this to your business please CLICK HERE!