10 Decision-Making Power Tips from Dave Ramsey
I’m convinced that indecision along with poor decision-making is the reason organizations and individuals languish and fail.
I was Dave Ramsey’s guest at a one day EntreLeadership Seminar in Nashville, Tennessee when I heard him say, “Your business, ideas, and team are paralyzed by an indecisive leader. Indecision is caused by one thing: fear.”
Dave said, “Fear will get you killed; think of the indecisive squirrel in the road who becomes road kill.”
10 Decision-making tips I enjoyed at EntreLeadership:
1. Take time proportionate to the impact of the decision; the larger the impact of the decision the more time you take.
Before I learned better, I led teams that wasted time on low-impact decisions while high-impact decisions were delayed. Placing low-impact items at the top of a meeting agenda so that you can quickly get over them is a golden opportunity to waste time on insignificant items.
2. Procrastination can be avoided by setting a self-imposed deadline, or by recognizing the reality of an actual deadline.
3. Write the deadline on the calendar.
4. Gather options. 90% of making the correct decision is gathering information.
5. Train your team to bring several solutions, not just problems.
6. Options and walking through worst-case scenarios can virtually eliminate fear.
7. What do your guiding values tell you about this issue?
8. Is there a way to minimize risk by making each part of the decision bite-size?
9. Ask experts – someone who has done it lately.
10. Ask your spouse.
Bonus: Write yourself a letter or report describing the problem, the solution, and the timeline.
Someone said, ““It’s better to be boldly decisive and risk being wrong than to agonize at length and be right too late.”
What decision-making techniques help you pull the trigger?
Which decision-making tip most helps you?