Simply, you as an entrepreneur will make a decision about everything.
Some decisions are more influential on your overall business processes, but some of them are small decisions without important effect on your business as whole.
Let’s try to describe the decision making process that you can use in your business as an entrepreneur.
Decision Making Process
As I have already said, decision making process is one of the most important processes in your business. You can see different types of this process in reality, but generally they all have the same purpose – effective and efficient decision that will bring results to your business.
The most common used approaching in decision making process is according the following steps:
- Discover the problem – distraction. First things, first. Every decision making process starts with the problem or some type of distraction between the desired and current state.
- Analyze the problem. After you find possible problems that require solutions you can start with the analysis of already defined problems.
- Define possible solutions. This is the step when you need to start brainstorming all possible solutions for a given problem, or problem you want to solve with that solutions.
- Analyze all possible solutions. Because in the third step you come to more than one possible solution for a given problem, in this step you need to analyze all proposed solutions in order to rang them to make a decision what will be implemented.
- Select the best solution for application. Now is time for real decision. What will be implemented as a solution for the given problem? Answer of this question will be the decision you are making.
- Implement the decision. We can’t talk about decision making process without the implementation sub-process within it. The job is not finished until you don’t implement what you have decided.
As you can see the overall process described above can be divided in the following four parts (see picture below.)