Making Decisions as an Entrepreneur

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Making decisions is rarely easy. It’s like playing a game of chess. But in this case, you’re a novice with no rulebook, playing a high-stakes game against a grand chess-master. Oftentimes, the options are undesirable and come with unknown consequences. But if life decisions weren’t already difficult enough, as an entrepreneur, the decisions you make are infinitely more stressful. Sorry, but it is.Chances are, you’re just starting out, with a small and vulnerable business. Every decision (big or small) can affect it in some way. So instead of struggling when making a decision, consider these tips:

Find Possible Solutions

Okay, you have a problem. The goal is to fix it, yes? Right now, what you need are options on how to fix it. Fortunately for you, that’s what the internet is for. Find others who have had similar problems and ask them what they chose for a solution. This is a great start to your list of potential solutions. Dive deep into research, brainstorming on social media, talking with fellow entrepreneurs, it’s all the same: utilize your resources to build a list of potential solutions. Don’t be afraid to spend a lot of time on this step. In fact, we greatly encourage it! You need a solid list of potential solutions in order to research and analyze.

Do Your Research

Now you need to buckle down and research out each option. It’s going to be long, tedious and boring, but it’s necessary. A good place to start your research is with the solutions other entrepreneurs made. But keep in mind that their solutions also depended on other factors, and may not work for you. That’s where the research comes in.Each solution’s effectiveness varies on the factors of the situation: tasks you have on hand, software you do/don’t have, permits you’re applying for, the list goes on. Again, this is why we research.[/vc_column_text][vc_single_image media="50582" media_width_percent="100" media_ratio="four-three" alignment="center" media_link="|||"][vc_column_text]

List it Out

With this step, get ready to write! Take out your favorite writing medium, whether it is a whiteboard, pile of sticky notes, a notepad, really it’s whatever works for you. Now draw a large ‘T’ across the page/board.Yes, it’s a Pros and Cons list. It’s important to keep in mind that there are rarely perfect solutions. Most of the time, decision are going to be a matter of compromise. What you’re willing to sacrifice for the gain is best discovered in a Pros and Cons list.By writing each solution out, you can easily weigh the consequences of each solution. Research shows that by taking the time to write everything out, you stop and think about each solution and the consequences- a key part in decision making.

Pick One

You’ve done the research and weighed the Pros and Cons. Now it’s time to make a final decision. Remember that few solutions are consequence-free, so pick the solution with the most positive consequences.

Implement and Evaluate

Now you have your solution, so how are you going to implement it? Immediately or over a period of time? Go into this with a plan. As you implement the idea, set a designated period of time. Maybe a few days, weeks, or a month- it all depends on the situation. After that time passes, look back. Did the solution help the business or cause more problems? If it’s not too late to double back, research again and pick a new solution. Talk with your partners or employees for new insight for the problem.Decision-making is a fact of life, but it’s harder for entrepreneurs! With so much on the line, making the right decisions is nerve-racking. These tips can help you find better solutions, making the process smoother. Talk with others, as there’s much to learn from the mistakes of others!If you need help solving copy or video problems, send us a message or comment below. We’re here to make the content-side of your businesses run smoothly.

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