All of us must make many decisions each day in business and in life. Most of them are relatively easy and we make them. Even if they are the wrong decision, it doesn’t kill us and we learn from our mistakes.
Our difficult, complicated, business-killing decisions fortunately are not common but we must make them, often on incomplete, even flawed information.
Here’s what we do: We call it the Ben Franklin decision model since Ben used it:
1. List all the advantages or benefits.
These are what can be gained by taking an action to solve a problem or realize an opportunity for your business.
2, List disadvantages or consequences.
These are the “worst-case” scenarios that could badly damage your business, your reputation, your bottom line or your future.
3. If #1 outweighs #2, go for it.
If not, come to a screeching halt.
An example: You suspect trusted employees may be stealing from you. List how they may be doing it and check it out. If you’re wrong, that should be a relief. If not, now you have a tough decision: Fire them, suspend them without pay or call the police?
We share such field-tested strategies in “Uncover Your Inner Sales Genius.” For a free e-copy, go to JerryBellune.com.
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