Firm decisions in business

Decision Making in Business

Making decisions in business is hard and costly.

Make the right one, and you make +10% of $500 M revenue. Make the wrong and FAFO… (excuse my French)

However, a decision needs to be made. By you.

The safest way is to collect data, analyse, watch the market, be advised by forecasts, put the numbers together, combine information and… have a break down.

I am only kidding.

All the above (and more) are tools that provide directions or at least tendency.

Stakeholders can provide their view.

Gathered all together, and still, you feel you miss a 30% to be absolutely sure.

I got news for you.

Delaying your decision because of this 30% uncertainty, is costing daily a much larger amount and endangering not only the current but mainly the future position of your organization in the market.

“Waves” are not always there and need to catch one with your decision.

I am not suggesting random, emotional and forced decisions.

It has to be based on data, records, tendencies, forecasts and needs to be in line with strategy and position.

But nobody will ever make a 100% certain business decision beforehand.

You can have a contingency plan. A whole other plan (namely B). You can create options or build alternatives. You can’t ever be 100% certain of any decision you have to make.

But you must keep moving. 

Cheers!