Posts Tagged ‘Decision making’

In 100 Words: Hourglass Leaders

Tuesday, May 1st, 2018 by AdvisorCatalyst

No, this message isn’t about using time wisely. The hourglass is a metaphor of something passing through a bottleneck. Specific to leaders, one chokepoint is our need to weigh in on too many different issues and decisions. This desire to review and provide input leads to final approvals stacking up in our inboxes. Speed of execution slows. There is an inverse correlation – the greater the amount of decisions and issues piled up on our desk, the less amount of work our teams are accomplishing. Determine where you can pass on decision authority. This will widen the neck of your hourglass.

“So much of what we call management consists in making it difficult for people to work.” Peter Drucker

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When Wrong Decisions Are Good Decisions

Monday, November 23rd, 2009 by AdvisorCatalyst

We all know what it’s like to agonize over a tough decision. We weigh the pros and cons and think through a lot of “what if’s” for each option. Obviously, we should always “count the cost” before making a decision, but we must learn to recognize when our diligence in thinking through a decision can hinder us from actually making a decision.

Remember the “Choose Your Own Adventure” books you read as a child? Imagine trying to formulate the “perfect” path through the book before you ever read a page. It’s impossible. You don’t have enough information to start with, and you can’t possibly predict every ramification that will result from later decisions. You simply must start reading and make the best possible decision with the information you have. Of course, if you don’t like the results of a decision, you can always flip back to the beginning and make a different choice. The second time, you’ve got a higher degree of confidence in your choice because you’ve already eliminated one based on experience.

The same is often true in business or personal decision-making. Making a wrong decision is often the first step toward determining the right one. The insights from miscalculations provide the baseline for a recalibration of your strategy.

The alternative is to freeze in a state of “analysis paralysis.” Any decision has an element of uncertainty. You simply cannot collect enough data to guarantee a certain outcome. That’s why George S. Patton, Jr. wrote in War As I Knew It, “A good plan executed now is better than a perfect plan executed next week.” Those who have the courage to proceed with a “good” plan will likely be able to see the results, adjust, and execute a better plan while those working on the “perfect” plan are still thinking over their options.

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