Good business owners and managers…at the end of the month want to know how your business performed…was it profitable?…by how much?…what and who were the leading contributors to the performance? …did your business have any growth?…in what? and there are many other good questions that you will ask so that you can adjust your course if necessary for the coming month. I did just that this week for this Blog and the results were that my readers were 3x more interested in reading about making good decisions and how to improve their critical thinking than in any other topic! I am really surprised at these results…I compliment you for your wanting to improve your results through more critical thinking and improved decision making. So do I! For this reason I decided today to give this audience more of what they like most. Not sure why so very few comments …however I am very pleased to have you as readers every day…thank you…let me know what topics you like most and I will do my best to give you some great information! So here is my question to you…
Are All Decisions Important In Business?
BY NADIA GOODMAN | April 29, 2013
As an entrepreneur, you make decisions every day that affect the success of your products, the loyalty of your employees, and the overall health of your business. To make the best decisions possible, you need to think critically and quickly to pick out any flaws in your processes that might harm your business.
Editor’s Note: Entrepreneur Richard Branson regularly shares his business experience and advice with readers. What follows is the latest edited round of insightful responses. Ask him a question and your query might be the inspiration for a future column.
Q: What were your most important managerial decisions — the ones that changed your business? - Volodymyr Kravchuk, Kiev, Ukraine
A: Most good chief executives or entrepreneurs only make three or four key decisions every year. Running your business’s day-to-day operations and managing your team can take much of your time, so there are usually only a few that stand out — the game-changing decisions that can make or sometimes break a business.
Looking back over my career, which now spans more than four decades, there were many occasions when I got it right and a few when I did not. A few guiding principles helped; these are the things I would have liked to have known when I was just starting out.
I had considered reading and reviewing this book some time
ago, but I couldn’t make up my mind whether to or not! Dad joke—well it is father’s day. Decisive: How to make better choices in life and work by Chip and Dan Heath offers helpful advice for improving our ability to make decisions. It describes how we can focus on what lies in front of us and ignore many of the background factors that may, in fact, be even more important to the choices. It takes us beyond trusting our gut, on the one hand, and careful analysis, on the other. It helps us to understand some of the hindrances that get in the way of good decision-making, so that we can overcome them and choose wisely.
An Introduction to Critical Thinking
Small Business Consultant
80/20 Marketing Inc.