14 Sep Making Complete Decisions A Key Ingredient For Success😎
In a recent conversation with a client, he was agonizing about a big decision and what was the right option.
He was worried about not making a mistake; however, to me, the issue is not about making a mistake. Instead, it’s all about ensuring that you make a complete decision.
Decision-making is a process that starts with identifying your options, knowing the cost of each option, selecting, accepting your choice, mitigating your risks, and ends with taking action.
In this blog post, I will expand on the importance of making a complete decision.
What is the price or cost of your choice?
The first step in making a complete decision is understanding your choice’s cost.
Often we agonize about whether it’s the right decision or not when we don’t even know the cost or price we have to pay for that option.
This crucial step will make it easier to choose between your options.
Some options become unattractive once you include the price you must pay in the picture.
The question is: Do you know the cost of your choice? And are you willing to pay for it?
Accept the decision you’ve made.
Accepting your choice is the next step in making a complete decision.
Acceptance is a vital part of the decision-making process. It’s not the same as agreeing with or liking your choice, but it does mean that you’ve made it and are ready to move forward.
Once you understand the cost and are willing to pay it, embrace your decision 100%.
When you’re in acceptance mode, there is no room for second-guessing.
The only question is how you will implement your choice and what next steps need to be taken.
Identify and mitigate risks.
Next, identify the risks arising from your choice and mitigate them.
An example of mitigating risk is insurance – your business choices will determine what kind of insurance you need to put in place to protect the business from loss.
For example, it makes sense for a company running a warehouse to have fire and burglary insurance, whereas a consultant may only need a professional indemnity cover.
So it’s essential to identify the key risks arising from your decision and mitigate them.
Take action on your plan.
The final step in making a complete decision is to take massive action. Getting stuck in the steps above can be easy, but you have only really made a ‘complete decision’ when you take full action.
In summary, the key is to make a complete decision.
Don’t be afraid of it.
Don’t look at things not going according to plan as a wrong decision.
Instead, it’s to be expected, but you must learn from them and move forward.