Leadership Guide

Some helpful tips on making effective business decisions

In life, we often face tough challenge of making decisions. Decision making becomes tougher when there is a lot on stake or the choices are numerous. While making decisions, you should only think about its immediate and long term consequences. Businessmen have to think about a host of different aspects before taking a decision. A chess player also has to think very carefully before taking a decision regarding moving one of the chess pieces across the board. Chess is a mind game where once you move a piece forward you cannot take it back. One wrong step can make you lose the game. Decision making is an integral part of both chess and business. It is true that hasty decisions can have dangerous consequences but entrepreneurs often need to make bold and instant decisions. In the following some tips for making the right decisions are discussed.

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Do not be afraid of changes:

If you are making a decision then you should not be afraid of changes. Decisions generally bring changes. If you are afraid of changes then your decisions may become biased. Maintaining the status quo does not pay off all the time.

Make a positive and negative list:

One thing that will help you in taking a serious decision regarding your business is a pros and cons list. Take a piece of paper and pen and then make a list of positive points of your decision and then negative points of the same. Compare both sides and see which side is heftier. If the list of positives is bigger than the negatives then you are on the right track.

Think for yourself:

For making impartial and unbiased decisions you have to rely on yourself. Every business decision you take should be ultimately yours. You can use the data and info that your employees or associates give you but do not let their opinion influence your decision.

Focus on long term objectives:

Always think about the long term goals that you want to achieve through your decisions. You will be able to judge the motives of taking a decision if you have got sufficient data. Collect relevant info and review it carefully for making the best business decisions.

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Dr Prem Jagyasi

Dr Prem is an award winning strategic leader, renowned author, publisher and highly acclaimed global speaker. Aside from publishing a bevy of life improvement guides, Dr Prem runs a network of 50 niche websites that attracts millions of readers across the globe. Thus far, Dr Prem has traveled to more than 40 countries, addressed numerous international conferences and offered his expert training and consultancy services to more than 150 international organizations. He also owns and leads a web services and technology business, supervised and managed by his eminent team. Dr Prem further takes great delight in travel photography.

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