Sometimes the hardest thing and the right thing are the same. Choosing between the right and wrong alternatives can get you into that thin gray area, right between the white and the black. What do I do when I’m stuck while making a decision? I flip a coin. And I blindly go with what the coin tells me. However, this can never hold true for Business decisions.
In business, there’s usually no right or wrong. There are correct and more correct alternatives. And deciding among these close alternatives is very, very tough. A lot of business decisions also involve emotional tempests. Being a shrewd businessman or a generous gentleman can be a tough choice.
Here are some valuable tips that will help you make business decisions without letting emotions come in the way.
Know Your Priority
If you are aware of what is more important to you, the decision making will not be so tricky. Many times, you might give preference to your business. However, there might be times when your friends, family, and your emotions become the priority.
In such a situation, you might have to sacrifice a part of your business return. Ask yourself if you’re ready for it. If not, compromise with your heart.
Visualize The Consequences
Every action has a reaction and every decision has a consequence. Before making a business decision, visualize what its consequences will be. If you’re stuck between two choices, think of the repercussions of each choice. Go for the one which will benefit the business the most. The other option might sound very lucrative so keep it for a later time.
Your friend approaches you to merge your business with him. But you do not want to merge with anybody at the moment. He’s your friend and his suggestion is not bad at all. What do you do? When you are jumbled in many ways, give yourself some alone time. Sit calmly, take a deep breath and consider all of the choices. Sitting at a calm place will tell you what you actually want to do. Trust your mind. It’s your business in question.
Take Expert Advice
Your organization requires a sales manager. There are several qualified candidates who have applied. However, there is a relative who needs a job badly. What would you do?
You know what would be the best for your business, but the decision is hard. Expert advice always helps. Ask professionals, consult a trusted friend, discuss with elders and you will have the answer.
Make Up Your Mind
You have an employee who is very sincere and experienced. However, he is not equipped with technical knowledge and is struggling to keep up with the new, young employees. No amount of training is helping either. You know you have to say goodbye to him.
But it’s not so easy.
Before anything else, you need to make up your mind. Tell yourself that the decision is in the favor of your business. Keep emotions aside and be strong in your head.
This is one very, very important attribute to learn as a manager and as an entrepreneur. Even the most severe decisions can be expressed in a polite, less hurtful manner. Many times, your decision can be upsetting for your staff. However, choosing the right words will reduce the impact of the verdict on them. As a manager, being diplomatic is one art you must pick up.
In most of the situations, you already know what your decision should be and what will be the best for your business. However, the emotions that engulf the alternatives can make it a difficult call.
Remember, when you decided to become an entrepreneur, you knew a business doesn’t run on emotions. The best business decisions are driven by the brain, not the heart.
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