Knowing how to make decisions is not easy. Regardless of how much experience you have, there will always be decisions that will put us at risk, make us doubt and could lead us to lose. If trivial decisions like choosing a movie can take time, imagine making decisions where money and other individuals are involved.
Making decisions usually involves giving something back, and that’s what makes making decisions particularly difficult. These situations are very common in the life of an entrepreneur and if you are in the process of creating a company you will face very complex decisions that only you, as the person in charge of your company, must make.
in his book “The Virgin Style” Virgin Group founder Richard Branson highlights 4 rules he has used to make difficult decisions during his career as an entrepreneur, which you will find below.
How to know how to make difficult decisions.
1. Find all possible disadvantages.
It is necessary that you carefully consider absolutely everything that can go wrong or out of plan. Do not be guided by other people’s comments or experiences, only the figures and real facts surrounding the decision can be taken into account.
2. Limit possible losses as much as possible.
Risk and uncertainty will always be present. The possibility of losing will always be an option, however, you can act in such a way that the odds play in your favor. If you know what the possible disadvantages are, set a loss limit, so that if something goes wrong it is easier for you to recover.
3. Don’t act emotionally.
The fear of losing or even greed can lead us to make emotional decisions. Never make hasty decisions, take time to organize your ideas and more importantly, to collect information that allows you to argue your decision.
4. Evaluate how other aspects of your business and your life will be affected.
You may have a unique opportunity waiting for you, but you must be careful not to lose what you already have. How will your life and your other projects be affected by this decision? As tempting as an opportunity may seem, it may not be the right time to take it. Always think about how your brand will be affected.
And remember, if you are really interested in creating your own business, you can read our book “How to create a company while working: Discover how to manage your time, manage your money and motivate yourself while creating a company and working for another” , where you will find all the information you need to found your own company, without having to leave your job.
