What is the best way to make an effective decision?
As an entrepreneur, you are constantly faced with challenges and potentially life-changing situations. How do you maintain objectivity in the face of uncertainty? Can you really be truly objective? It all depends on how you approach a problem and formulate a solution.
Say you find yourself with a challenging situation to solve. Your friend wants to go into business together, but you are not sure about it. Your team is struggling with a problem and looking to you for a solution. You want to change an aspect of your company, but not sure how.
When facing these challenges, you may feel stressed, anxious and distracted from everything around you. While your brain works to solve the problem, you may be missing key points and red flags in your situation.
Why? Because your brain can only think for YOU. As much as we try to be objective in our decision-making, our thoughts are ultimately a product of our perspective, causing us to miss certain points.
Put Yourself in the Other Person’s Shoes
The next time you are faced with a decision to make, imagine someone coming to you for advice. Say your child, friend or family member comes to you with the problem you are facing and asks you what to do.
What would you say? Would you give the same advice you would tell yourself? Odds are, probably not. We are all guilty of turning a blind eye to certain points in our personal situations. There may be red flags and mistakes in your situation that you are not seeing or in denial about.
Taking your problem out of your own head and putting yourself on the other side of it allows you to see more clearly and objectively. If someone you love is in a challenging situation, you are more likely to work harder to help that person. If someone you love is doing something wrong, you are more likely to notice it and offer a solution.
As a parent, I definitely relate to this. When your child comes to you with a problem, you do everything you can to make sure he or she figures it out. If your child is in trouble, you stop at nothing to help your child. It is just as vital to act that way for yourself, too.
Get Your Thoughts out of Your Head
What is the best way to vocalize your thoughts? Try writing out what you would say to someone looking for advice. Putting your thoughts on paper is a great way to get out of your own head and clear your mind.
Write a pros and cons list, possible outcomes and the process for your potential solutions. Writing out your thoughts also allows you to see situations more objectively. Read what you wrote out loud. Does your solution make sense? What is your gut feeling after reading your thoughts?
Try talking out your thoughts as if you were having that conversation with someone, even if you have to talk to yourself. Talking it out will also help your brain work to find a solution. Most importantly, you get out of your own head.
Checking in with yourself is crucial in any decision-making process. Especially in entrepreneurship, every challenge has red flags and potentially dangerous outcomes. Taking a step back from your own thoughts helps to point out red flags you might miss.
So, the next time you have a business deal you are not sure about, or a project that has some issues, use this exercise to help you formulate the best possible solution. Entrepreneurship is a constant learning process. Mistakes happen, bad decisions are made. Learning from them is one of the hardest parts of being an entrepreneur.
While objectivity seems impossible, taking yourself out of your own head helps you think more objectively and less emotionally. Guide yourself in the right direction and become a more successful problem solver.
I hope these exercises help you make those big decisions. Are you ready to learn the tools you need to become a successful entrepreneur? Contact me and get started today.