Be selective, do your homework, and reverse engineer business decisions before you commit to anything. Making irrational and quick decisions will drive your business to the ground. You have to think your decisions all the way through. I’m not talking about getting paralysis by analysis, or having a team of twenty people help you make a decision. I’m just talking about taking a few minutes, looking at the end result that your decision is going to have, running some quick data checks, and giving yourself a few moments to walk everything through to the end before you jump into something that you may regret.
Before you make any large business decisions, ask yourself:
1. What are the implications of making this decision?
2. Is this decision going to end up costing a lot of money in the long run?
3. Am I helping or hurting my company by making this decision?
If you don’t do your homework properly, you’re never going to know the answers to these very important questions. Doing your homework puts you in the drivers seat to make the most educated decisions you can. There’s no absolute way to know for sure that any decision you’re making is one-hundred percent correct, but you can definitely help yourself out and put the odds in your favor if you understand the full picture.
Look at the end result.
One technique that I’ve found to work great in regards to making educated business decisions, is to reverse engineer my decision making process. I do this by looking at the end result I’m going to get, and then working my way backwards towards the resolution. It’s like starting a race, but at the finish line, instead of at the starting line. It makes total sense when you think about it for a few minutes.
Put the work in upfront.
Decision making is not difficult, although many people, and companies, do make it difficult for themselves because they don’t do their homework and reverse engineer the process before they actually make a decision. If you put the proper decision making process in place upfront, you’ll say tons of cleanup time later. Believe me, I speak from direct experience.
“Just because your friends company uses a particular product or service, definitely doesn’t mean that the same product or service is going to be a good fit for your company.”
Every business has different workflows, different systems they work with, and different unique needs. Don’t get sucked into the hype of the new best thing, because it may end up being your next worst thing. Remember, look at decisions from the finish line, and then run the race backwards to make sure everything is exactly the way you want it to be.
Companies selling to you, want you to look at things from the starting line, but if you do this, they’ll be the ones crossing the finish line first, not you. With your business, especially with the service providers that you’re paying a lot of money to on an annual basis, it needs to be all about you, so win the race, by doing your homework and reverse engineering every large business decision.