As an entrepreneur, your job in large part is to make decisions about your business. It’s not important to do what you want to do or don’t want to do. You simply will need always to make decisions. So, you must make business decisions if you want to be an entrepreneur.
What you will make? What do 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 many more questions 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 our company’s overall business potential energy.
What are the most important factors for making good or quality decisions for your company?
What’s exactly mean quality entrepreneurial decision?
Answers to 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 decision-making process.
- Your skills are an important part of your business decision-making process.
- You need accurate information about the subject of deciding.
- Sometimes you need luck.
- In situations where you don’t have the information 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.
It would be best if you prioritized the decisions. The right problems must be solved first.