234: How To Make Hard Decisions the Right Way

234: How To Make Hard Decisions the Right Way
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Life is full of choices and hard decisions and entrepreneurship is no different. In fact, when you are in business for yourself, the cause and effect of your decision making process can be more immediate, especially for the people who rely on you to have the ability to make reasonable judgements. Whether you?re into general contracting business or have a push mower lawn care business, the ability to make quality decisions is vital to the success of your business.

Don?t let the pressure of this stop you though! There is a right and wrong way to reach a conclusion that will best suit your business needs. Using techniques like ?Fear Setting?, writing down ?Night Thoughts?, and checking your emotions at the door will all help ensure that you have the ability to make these better decisions. When it comes to emotions, there are two ends to the spectrum. As fear can paralyze you from making any decision at all, ego can cause you to make too many unnecessary ones.

There is no reason to let emotions or any other outside force affect your decision making process. It is your business to take care of and your job to properly evaluate risks and rewards.

Decisions aren’t easy. Make them the right way.

Three Key Takeaways

  1. Fear Setting. When making a decision for your business, imagine the worst case scenario and write it down. Most likely you?ll see that it isn?t as big of a deal as you thought it would be or could be.
  2. Risk vs. Reward. Evaluate all the risks and rewards that can come from making your decision. Don?t go in blindly and uninformed.
  3. Do not be emotional. Don?t make any decision from an emotional frame of mind. Just as fear can be one end of the spectrum, paralyzing you from doing anything, ego can be the other end, feeding into greed and unnecessary risk.

For more valuable content like this, join our community of like minded individuals who are seeking to improve every aspect of their business (hyperlink to the community), or simply subscribe to the podcast.

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Nick also discusses his latest endeavors at http://boltstorage.com

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About Me

I started the Sweaty Startup in December of 2018 because I believe the Shark Tank and Tech Crunch culture is ruining the real spirit of low-risk entrepreneurship. 

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