As business owners and leaders, we often find it hard to make decisions about major challenges or the potential opportunities we need to tackle. There is a tendency to default to a wait-and-see strategy in the hope that things will somehow sort themselves out in the long run.
The reasons why decision making is hard are manifold, but the main reasons are:
- We are not always examining the root cause of the issues we are facing
- We lack the information and insight we need to make informed decisions
- Our information and knowledge are internal to our organization and may not be sufficient or state-of-the art
- We don’t have an overarching context on which those decisions can be based i.e., a long-term strategy
Strategy is a Pattern in a String of Decisions
The final point in my opinion is the most crucial. Someone once described a strategy as a pattern in a string of decisions. This is because those decisions have been made in the context of an overall plan to reach a desired future state.
I will be addressing each of the above in detail in future posts but for now I would like you to ask yourself the following questions:
- How often am I taking the time to get to the root cause of an issue rather than addressing the symptoms?
- Do I have a clear understanding of where I’m taking my business and am I using that understanding to make good decisions that help me get there?