Skip to main content

"Hey Phil, Is Slow Decision Making Costing Us Money? I Can't Decide."

In an era of information on demand, decision-making tools are more available than ever. Of course, as technology increases and is implemented sooner and with more efficiency, information will be even more readily available. According to CIO Magazine, information is the leading tool for quality decisions. So why do folks still take forever to make up their minds?

The Harvard Business Review has some ideas. It is about fear of change. Correction - fear of being different. In most cases, decisions take longer, far longer, than they need to because the decision-maker is afraid of stepping outside the lines of what is currently being done by the industry, by the company, by the world....

Those organizations that are unafraid of failure make decisions quickly, bring products to the market first, and are on the leading edge of profitability. They know they will fail. They move forward with the understanding that risk equals reward in spite of the obvious risk of failure. They do not focus on the opposite of what they hope to accomplish. It only takes a few rewards to achieve great success and it takes a lot of failures to arrive at demise.

You know your industry, your organization, and your people. Use your instincts and your knowledge to create belief and trust within all three areas. You probably already have all the information you need. Go, make a decision!


Popular posts from this blog

List Of Convenient Excuses To Avoid Change

1. "That will never work." 2. "That said, the labor laws make it difficult for us to do a lot of the suggestions you put out. And we do live in a lawsuit oriented society." 3. "Can you show me some research that demonstrates that this will work?" 4. "Well, if you had some real-world experience, then you would understand." 5. "I don't think our customers will go for that, and without them we'd never be able to afford to try this." 6. "It's fantastic, but the salesforce won't like it." 7. "The salesforce is willing to give it a try, but [insert major retailer/corporation/partner here] won't stock it." 8. "There are government regulations and this won't be permitted." 9. "Well, this might work for other people, but I think we'll stick with what we've got." 10. "Our team doesn't have the technical chops to do this." 11. "Maybe in the next b...
Read more

Lest We Forget

"Reverence for Life does not allow the scholar to live for his science alone, even if he is very useful to the community in so doing. It does not permit the artist to exist only for his art, even if he gives inspiration to many by its means. It refuses to let the business man imagine that he fulfils all legitimate demands in the course of his business activities. It demands from all that they should sacrifice a portion of their own lives for others." - Dr. Albert Schweitzer , from Civilization and Ethics
Read more

Flex Those Tiny Muscles!

Because we, like most of our readers, are small (although, almost medium-sized is an appealing goal), this musing makes a lot of sense. As the world comes closer together, "mom and pop shops" can now be "global micro-brands" (pretty good spin, eh?) without much more effort than it would take to build local business, perhaps even less, as the internet is a genius form of communication when used correctly. Stay small, stay in control, and stick to your vision. There is a lot of hope and success out there for the little guy!
Read more