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12 Simple Ways to Make Better Business Decisions

Entrepreneurs reveal 12 recommendations on how to improve your decision making skills in business.

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7. Keep it about helping others and the planet

“If it’s not going to benefit humanity, I am not board. There are so many situations and decisions that can bog you down. Ideas become less important when I know their outcome is going to impact ecology in a negative way. Keeping it about helping others and the planet helps me to make decisions faster and get to the problems I really want [to] solve. Key is [knowing] your business credo, [staying] focused [on it], and [eliminating] ideas that do not fit your agenda. Time is of the essence.”

– Caroline Blazovsky, President of My Healthy Home

8. Focus on profit

“Nothing else matters. If it costs money and time to do and you can’t link it to profit, don’t do it. Don’t waste your time and don’t fall for anyone selling something that ‘could help your business’ if it doesn’t have a direct return on increased sales and profit. I keep learning this myself, day after day. There are so many temptations to do this and to do that, but at the end of the day all that matters is making 2bar Spirits profitable. It requires a maniacal focus that makes for hard decisions, but it is the only way to make it work.”

– Nathan Kaiser, Owner of 2bar Spirits: @nkaiser

9. Have guidelines.

“Your gut will be wrong most of the time, but if you have a framework or guidelines you can follow then you’ll definitely make better decisions. My guidelines look at long-term and short-term effects and how this decision fits with the overall plan for the business moving forward. Coming from an engineering background, this is how I’ve been trained to make decisions, which makes them easier and helps you make better [decisions] as well.”

–  Michael James Flanigan, Co-Founder and Lead Analyst of Khraze, LLC: @MJFlanigan

10. Filter the best and forget the rest.

“It’s important to get some weigh-in from employees on important decisions, but unless these ideas fit in with your wider vision for the company or your goals for growth, it’s important to filter the best and forget the rest. You’re the boss in the end, and any decision you make will reflect on you, not your team, so don’t be afraid to make the tough decisions and stand by your choice.

– Daniel Saynt, Founder and Creative Director of Socialyte.Co: @SocialyteCo

11. Don’t procrastinate.

“Practice makes perfect even in decision-making. Make tough decisions, stand firm and stick by them. Remember that indecision (procrastination) is a choice that limits you. Go with your gut because you’ll usually be right.”

– Anthony Mongeluzo, President of  Pro Computer Service: @PCS_AnthonyM

12. Take time out to think.

“Essentially you want to stay ahead of the power curve.  For example, I regularly take the dog out for long walks, go to the gym, or travel on the tube, which gives me plenty of time to objectively make very good decisions.  I often make poor decisions when I’m in the heat of the moment, low on energy, or even have low blood sugar levels at the end of the day.  It’s very important to take time out from work and think objectively as often as possible.”

– Adam Grunwerg, SEO Consultant of Searchable Online Marketing: @AffiliateFYI

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Photo: 7Diamonds

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