As an entrepreneur your job in large part is to make decisions about your business. It’s not important do you want or not to make decisions. You must make decisions if you want to be an entrepreneur.
What you will make? What you need to make? Who will do what? How your company will sell? How you will offer your products and services?
All of these and much more are everyday questions that you as an entrepreneur must answer, or make decisions about them.
Decisions are not made only because we must decide about something. We need good decisions, or the right decisions that will increase overall business potential energy of our company.
What are the most important factors for making good decisions for our company?
What’s exactly mean quality entrepreneurial decision?
Answers on these two questions are given in the mind map below.
Factors on Which Are Based Good Business Decisions
- You need knowledge about the subject of deciding if you want to make the right decision.
- Your experience will only improve the process.
- Your skills are important part in the process.
- You need particular informations about the subject of deciding.
- Sometimes you need a luck.
- In the situations where you don’t have the informations your instinct will help you.
- Decisions are based on logical conclusions. You need logical thinking.
- The large part of the decision-making process is a good analysis.
Quality Decisions Are Decisions That:
- they are implemented,
- lead your company to success,
- improve your company and
- solve the right problems.
If you make decisions that will not be implemented it is the same as you don’t decide at all.
Why are you making decisions? Because you want your business to succeed.
Each decision is a part of the problem-solving process. Each problem-solving process is part of an improvement process.
You must prioritize the decisions. The right problems must be solved first.