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Making a decision can be one of the hardest things anyone can do. If you’re making a personal decision, then you might find the process easy as no one will be affected by this decision but you. What if this decision can affect a whole business with its employees? This is when it gets hard. Making decisions is very hard as you don’t know the consequences or who will be affected and to what extent. This is why today we are providing you with 6 steps to follow to be a better decision-maker.
Consider Your Personality And Its Traits
One of the factors that can help you be a better decision-maker is the type of your personality. Identifying your personality with its traits can help you know how to make a decision and be aware of the process and can even help you enhance the process of making a decision.
For example, if you tend to be a risk-taker, you might find yourself making decisions without accurately thinking about them or their consequences. Also, if you tend to be a person who is biased, you will find yourself being biased to a certain decision during the process, and you will let these biases control your decision-making.
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Identify The Risks And Their Impacts
Some decisions need their maker to take a risk, but before making any decision, consider the risk and its consequences.
To be able to make decisions, sometimes you will have to take risks, but how can you know the type of risks you can take?
Being a risk taker is required but you can’t just randomly take a risk, what you need to do is identify the risk and list its impacts. People who take risks without considering the outcome may lose everything. During the process, you have to take the risk with the least consequences, the one that doesn’t leave a huge impact on the business, employees, and so on.
Also, try to see what this risk can cause in the long run.
As we mentioned, depending on the consequences and the impact, you can decide if you want to take the risk or not and which risk should be taken.
Don’t Be Biased To Your Personal Opinions
Many of your employees or team will share their opinions and solutions during the process, so listen to them, and don’t be biased.
Being biased will make you make wrong decisions, you have to be neutral when going through the process. Usually, when someone is biased toward a certain opinion or decision, they ignore the consequences and they only care about their preferences. This can never work in business, you have to choose what’s right for your employees and the company not for you.
Being biased means you will do what’s good for you, not for everyone, which will lead to an inevitable failure.
It’s good to have many options at the beginning of the process but when reaching the end, you need to have one single decision to make, not multiple ones to choose from.
If you’re reaching the end of the process with having too many choices to make a certain decision, this will make you hesitate and might even choose wrong. Having multiple choice will confuse you and make you feel overwhelmed. Eliminating choices must be done throughout the process, while you’re reaching the conclusion, test the choices you have and start comparing; the more you narrow down your options, the more you will reach a final one to actually make your decision.
Think of The Short-term and Long-term Impact
Every decision has either a short-term impact or a long-term one, which one are you seeking?
When you’re thinking about the consequences of your decision, think about the long and short-term impact. Your decision might have an instant effect on your business, but what about the long run? Some leaders act based on the time frame, while others seek a balance between the short and long term. Finding this balance will give your decision and its outcome value and it is better to start seeking balance earlier; the earlier you balance, the easier the process gets.
Consider The Consequences and Embrace Them
For every decision you make, there might be consequences, are you ready to bear them?
Every decision has consequences some are bearable while others are intolerable. Whether they’re tolerable or not, as a manager or a leader, you have to bear the consequences of your actions and decisions.
Embracing the consequences will force you to pay attention next time and work on enhancing your decision-making skills.
To conclude, being a decision-maker is required in every employee and it is an essential skill that everyone should have. Without this skill, you won’t be able to be promoted and be in any position that requires making decisions.