Five Steps to Making Business Decisions

Posted by bloggertone under SugarTone
From http://bloggertone.com 5197 days ago
Made Hot by: Small Business Tribe on August 31, 2010 5:18 pm

And we're off! This is our first HPSugartone making your business amazing entry so vote now. As a business owner, you have to make decisions on a regular basis. Whether they are big decisions or small ones, every one has an impact on your business. Of course it’s not uncommon to feel a bit overwhelmed. Well then, follow Frederique Murphy's five steps to put all the information into a logical order that will help you to make the best possible choice. Remember comments win prizes on this post.

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Comments

Written by catherineconnors
5190 days ago

Welcome to bloggertone Frederique and what a great post, making decisions is a normal part of running a business and from time to time a major one comes our way, this is a great strategy..... well done

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Written by FrederiqueMurphy
5180 days ago

Thanks Catherine, as you say it is such a "normal" part of running a business, so better have a robust strategy ;-)

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Written by CIKMarketing
5196 days ago

Great article Frederique. Indecision can plague any business owner. The fear of making a wrong decision, or not knowing how to deal with the uncertainty after you've made a decision can really bog down innovation. I think that by following your step by step process, people can deal with some of their demons and more effectively conquer the decision making process.

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Written by FrederiqueMurphy
5192 days ago

Thanks for the article feedback Chantielle; you have probably heard this quote before by Ivan Bloch "In not making the decision, you've made one. Not doing something is the same as doing it." And, you are right, the uncertainty, the lack of actions, also impact the innovation side of the business.

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Written by FrederiqueMurphy
5196 days ago

Niall, thanks for the post feedback; and you are right, fear is the emotion, the state to be thoughtful of; I wrote another post a couple of weeks ago, where I highlight a special ingredient to add to this 5-step process, and that special ingredient is faith.

You see, when we are making our decisions based on fear, we are being reactive rather than proactive. The key to making proactive decisions is shifting our mindset. We need to shift our mind away from fear and make our business decisions based on faith: these are the decisions that help us to move forward ;-)

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Written by nialldevitt
5198 days ago

Hi Frederique, I love this post! Great decisions are as a direct result of having a clearly defined decision making process. You provide a practical & straight forward route. No one gets it right all of the time but the clear enemy of decision making as you point out is fear. Every manager would do well to read this, thanks for sharing.

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