Guidelines that will help you make successful business decisions
Managers are in charge of making important business decisions that can impact the future of the company. From the hiring of employees to the purchasing of raw goods, managers must learn how to make successful business decisions if they want to keep their job. Here are some guidelines that will help you make successful business decisions:
# 1 - Who will this impact?
You need to consider the employees, clients, customers, and all the people that your business decisions will impact. It is important to put all of those individuals first when you make a decision. Making a decision that is primarily focused on money isn't always the best as it can end up hurting the company.
# 2 - Your standards
Each business decision you make should be inline with your standards. If you have to compromise who you are (integrity, trust, respect) when you make a decision then you are better off looking for a new job. You should never be asked to compromise your personal standards when you make a business decision.
# 3 - Make sure YOU make the decision
Quite often people are influenced by powerful individuals that can talk them out of an idea or decision. It is important that you do not let anyone else tell you what decision to make. You need to make your own decisions and be in control of them. If you allow others to make decisions for you, why are you a manager?
# 4 - Take responsibility for your decisions
We all make good decisions and unfortunately we make poor ones as well. Part of being a manager is learning how to take responsibility for your decisions, no matter how bad or good they may be. You need to have self-confidence and a thick skin when it comes to taking responsibility for your decisions. It's hard to admit when you have made mistakes and if you cannot stand in front of a group of people and face the music, you have no business being a manager.
# 5 - The end result
You always need to consider the end result when you are making decisions. Make a list of all the possible consequences of your decisions. You don't need to completely analyze the end result, but it helps to have a clear picture of where your decision will lead the company.
# 6 - Confidence
As you make a decision, you must have confidence in this decision. When you are wishy-washy on a decision, it is not going to be your best decision. Don't make a decision only to change it several times. Once your decision has been made, reluctantly change it.
# 7 - Assess what is going on
It helps to continually assess what it going on with the company so you know if you are going to make the right decision. Will this decision get you to where you want to be? Will it move the company forward or will it hinder it? Most of the decisions you make will be obvious after they have been made, even though it may seem like you have wrested with it for days.
# 8 - Advice
Part of making a good decision comes down to your ability to talk to others and ask for their advice. You should not ask them or allow them to sway your decision, but asking for advice is a great way to make a well-rounded decision.
Making decisions as a manager is just one of the many steps you will take in learning how to be successful. Stay committed to the decisions you make and let others see that you are competent in your ability to make and stand behind those decisions.