As an Entrepreneur, How do you Face Decision Making?
Hello Fellow Entrepreneurs,
This is probably the toughest question you would ever have to ask yourself as a business owner. How do you Face Decision Making? When it comes to;
- A Decision to own your own business?
- Business Planning?
- Home Based or Location planning?
- Hiring or Firing help?
- Scaling your business?
- Investing in programs?
- Hiring External help? (IE Accountants / Attornies)
- Spending Capitol?
- Business Education
- Long-term Goals?
I think when it comes to decision making we all have certain criteria for how we come about those decisions. Some people will discuss their options with trusted advisors, relatives and or friends. Others will do extensive research on the next step and finally, there is the jump right in both feet and worry about the outcome later type of decision makers.
Regardless of the type of decision maker, you are, or how you go about making these decisions for your business I think the main thing to remember is that growth will always be your bottom line. If your not making decisions based on constant growth, then your stagnating and soon the business will fail.
There is also the element of Risk….every business has risks involved whether its money, time or management risk there will always be some type that you will have to face and make a decision on. For most of us to grow our business, we need capital and a lot of us will borrow to make the business growths we need and then repay the debt. Once paid off you will then see profits and if you use them wisely you’ll scale your business with them. It is not always clear how to decide on certain goals for your business but if you plan out the steps first then growth will happen even in the midst of a sluggish economy, high unemployment or failing banks and government. because when you plan for the short term things in the long term have a way of working out. I’m a strong believer in the statement, what you think about -You bring about.
So focus on what you want and how you want it to be and let the decision making be one of Joy in knowing your growing by leaps and bounds!
To Your Success,