16 Essential Strategies to Improve your Decision-Making Skills

“Be willing to make the tuff Decisions is the most important quality in a good Leader.

“Choose always the way that seems the best, however rough it may be. You’ll be satisfied later.

“Effective decision-making can be seen as seeing the realities of the present & insights into the future and their effect.   

“Decisions should be based on facts – objectively considered —the fact-founded, thought-thru approach to decision making.     

“The key to good decision making is evaluating the available information – the data – then combining it with your own projection of the future and your intuition about the situation.

Decisive Topics: Stake-Holders 1st, Who & Why, Right People, Values & Vision, Virtual Decision Advisors, Formula, You, 3 Brains, Antagonist, 12 Step, 10, Deadline, NO Decision, Biases & Perfection.

 Decision-Maker . . within a business doesn’t have the luxury of inDecision. With each pause in Making critical Decisions, the risk of issues arising increases. Executives in companies need to hone their Decision-Making abilities. Like a blade, well-honed Decision-Making skills can divide & conquer problems before they show up.

How? can executives find effective ways of increasing their ability to make quick Decisions? How does an executive anticipate what those Decisions will entail? To help Leaders who seem to be struggling, 16 members of Forbes Coaches Council offer their thoughts on how Decision-Makers can sharpen their skills, and explain why their approaches are valid.

  1. Put Stake-Holders First !!!

The most ineffective crisis response begins with some form of “What should we do?” That creates a self-referential and self-protective mindset. Rather, think of Stake-Holdsers and ask, “What would reasonable people among those who matter to us consider appropriate for a responsible leader to do?” [Long, but more effective] This gets to smarter Decisions sooner. –

  1. Identify The “Who” & “Why”

Enhance your Decision Making by deciding who is involved & why. If your Decision affects many people, then a group Decision uncovers perspectives that can be heard and voted upon. If your Decision requires expertise that you don’t have, then a consultative Decision can generate new viewpoints. Lastly, there is the “autocratic” Decision, often used in emergencies or when you should have the final say. Imagine what others would think & do, then you make the final decision – based on your knowledge of your “Stake-Holders”.

  1. Get the Right People Involved in the Decision

Especially difficult Decisions may cause Leaders to take a long time to turn thinking into action. Balancing urgency & thoughtfulness is a must. The best Leaders know how to include the right Stake-Holders to ensure that the Decision is right. It means being purposeful about whose perspective will enhance the quality of the Decision, because they have something “at stake” in the decision.

  1. Use the Values & Vision as a Filter

When faced with a difficult Decision, always go back to the Core Values & Vision of your organization. These values should be a guide & filter for every Decision you need to make. And realize that you are going to be wrong sometimes, and that’s OK—just learn a lesson from any failure.

  1. Virtual Decision Advisors

InDecision is costly at any time, – especially in a crisis. Time is of the essence, uncertainty is high and ramifications of unintended consequences can be amplified. Virtual Decision Advisors enable Leaders to tap into their full spectrum of trusted Advisers to help them consider all the factors of the decision and get different points o view.

  1. Develop & use a your Formula

The best strategy for Making Decisions as a Leader is to have a formula or matrix that you use for making your Decisions. Implementing processes and procedures when faced with a Decision places “guard rails” around your company. Put these Decision-Making formulas into place and follow them. It’ll keep that enemy of productivity—inDecision—at eBay (whoops, just Bay) (Check out “Decision Formulas” on Wikipedia and other sources).

  1. Determine “What’s-in-it-for-You”

Decision-Making has to do with how we manage our self-interests & relationships to people, as well as memories of events & experiences. Start by determining “What’s in it for you”. Recognize your emotional attachment to the people involved in the situation. Think of what past memory is triggered by the current situation. Work with a trusted partner to put in place safeguards and build with what is a just Decision.

  1. Listen To Your Three (3) Brains ???

Yes, you have three. We all do. 1) your cephalic (Head) brain is best for reasoned problem-solving, Decision Making, creativity & empathy. 2) the cardiac (Heart) brain is the seat of passion, compassion & values. 3) the enteric (Intuitive) brain is home to courage, self-protection & who you are at your core. Listen to all three brains. Start with #1, then do #2 & #3. After you’ve collected the facts (Head), how do you feel about it (Heart & Intuition)? In this situation, which one should be primary in this Decision? What are the Factors?

  1. Designate an “Antagonist”

Make it someone’s job or additional duty to create strong counter-arguments for every Decision you make. Their only function is to try to overturn your Decision, not to come up with a better one. This third-party critique is terrific for seeing problems from different points-of-view, and it’s a real boost for the person you select—imagine how much they learn about executive Decision-Making in that role.

  1. Take the “12-Step” Approach

The “12 Steps” are a life-tested approach to manage the unmanageable and you’re your self & team through a over-whelming time. By learning to apply these life-changing principles, we find wisdom in acceptance, strength in honesty & courage in the face of chaos. We embrace progress, not perfection. We learn that gratitude & connection are super powerful. We go within to discover wisdom and reach out to connect. (Check out “12 Steps” on Wikipedia and other sources)

  1. Apply the “Rule-of-Ten”

While you think you are being objective, many Decisions are driven by emotions. By applying the “Rule-of-Ten“, you can strive to be more objective. When pondering a Decision, ask yourself, where will we be with this Decision in 10 days, 10 months & 10 years. Then ask yourself, how you will feel about this Decision. Acknowledging and checking in with your emotions is also important. Trust your Intuition.

  1. Set a Short Deadline

The longer we take to make a Decision, the harder it can get, potentially leading to second-guessing ourselves. Set a short deadline to make the Decision and be specific about the Date & Time. Then use the time in between – to gather the relevant data to support your probable Decision. This is a practice. The more you do it, the easier and more natural it becomes. It’s like exercising a muscle.

  1. Clarify Goals regularly, then “Just Do It !!!

Executives can enhance their Decision-Making skills by clarifying their priorities and what they want to get accomplished at the beginning of the year, every quarter, every month & every week. Clear goals followed by the clarity of when the goals need to be met – can make a difference. If anyone has a problem in terms of action then they need to practice the “Just Do It” of Nike. (if you like it, they’ll give you a “free” pair of shoes) LoL

  1. -Test the $$$ effect of NO Decision

It’s easy to look at the upside or downside of making a Decision, but we frequently neglect to do an equivalent analysis of making “NO” Decision. This additional analysis may help determine the timing of a Decision and the crucial point that turns a “Wait-&-See” situation into a “Call-to-Action“. Without this situational “pressure testing“, your Decision considerations are incomplete.

  1. Check your Biases at the Door

Decisive Decision Making [DDM] is a key Leadership characteristic, but sometimes, when time pressures are high & available information is limited, Leaders rely too much on their intuition as their Decision-Making tool. While Leaders need to tune into their Intuition, they also need to critically self-reflect and realize that sometimes “acting on your Intu” really means being driven by your personal biases. Make sure you don’t make that mistake.

  1. Forget Perfection

Everyone wants to make the right Decision. The truth is, there is usually many good Decisions and few bad ones. There is rarely the perfect Decision. Stop focusing on getting it exactly right. You can always make adjustments later. Focus more on buy-in and execution. Teams that execute Decisions well – outperform those that don’t. Period. “Close enuff, is Good enuff”. Don’t waste extra time – trying to make it perfect.

Comments: Do you know of any other ways to improve Decision-Making?

fm Forbes Coaches Council 12-20 enhanced by Peter/CXO Wiz4.biz

For more Info, click on Decision-Making.

https://wiz4.biz/category/decision-making/

 

comments powered by Disqus
Translate »