Being an entrepreneur and beginning with your dream startup may seem like a cool idea and in reality, it is an amazing idea. However, it also comes up with lots of responsibility. Among all those, there is also the responsibility of taking all the decisions alone. Whatever you ma
While in a startup we always need to make tough decisions. It can be hiring a team member or choosing the right marketing strategy. The decision is a termination of the thought process of a problem that exists in order to overcome a problem by selecting alternatives. Decisions made must refer to the existing problems and a reality surrounding them that allows the problem to quickly get resolved.
Decisions can be made by groups within a team or individually crafted. Decision-making by a team usually takes a long time for each team member to express an opinion regarding the alternatives to their problems. If you are working in a startup, decision-making requires an analysis of the results of the thoughts or opinions of all team members for a better outcome.
To make a decision, we need to know what problems we are facing and what alternatives we have. Thinking about it, we will gain a lot of thought and alternatives to it. In this article, we will talk about some tips that can help you to make a tough decision in your startup. So, let's get started.
Analyse the Situation
The first tip in making a difficult decision is to make a list of what is causing the obstacle. Gather all the information about the problem and what impact will it have on the company. This list will make you focus on thinking about alternatives that can be taken to overcome the hurdle. This way, making decisions regarding any situation related to your startup becomes easier.
Reevaluate Your Decision
Consider what a barrier for us in the process of making decisions that will be taken in order to resolve the problem, we must be careful and think logically about this. Reevaluate your decision, check the whole situation from to bottom again, analyse different perspectives and think about what can be the outcome of your decision. It is better to recheck it again and again instead of crying over a bad decision.
Ask for Advice
It is highly recommended to take advice from someone who is an expert in this field. Don't shy away from asking for a piece of advice. Ask for advice from friends, family or your seniors who belong to this industry, who already know the problems that you have and have faced the same. Being seniors, they will be able to make you see the bigger picture which will be a benefit for you.
Take Feedback From Your Team Members
Feedback from team members and employees is necessary because it can help you in improving your performance and also decreases the chances of errors that can happen. Now, while making a decision taking feedback from them helps you as they are working for the company as much as you are. If you do not agree with them, give them time to explain why they think so and if you agree, you can immediately think of a suitable alternative for your problem.
While making the tough decision, use logic and common sense. You should not use emotions, it affect your productivity and thinking. With clear thinking, you can find a wide range of alternatives in accordance with the problems you face. Too much of emotions can be a hinder and may make you confused about the whole situation. Logical thinking also includes in the situation of hiring and firing.
Purpose of the Decision
Before making the decision, find the purpose. Realise why you are making the decision and what will be its outcome. In the process of making tough decisions don't try to fasten the process. Take time and find out what can be the outcome, if the said decision is taken and if making that decision will help you in achieving the desired results.
Avoid Being Subjective
You as the team leader must not be subjective in the decision-making process. Choose the alternative which you think is right and logical. Do not choose an alternative from the person you love or from the person you fear. Be open to other choices and choose the one that can benefit you and your business.
Have a Backup Plan Ready
Make a backup plan, and consider all the alternative decisions that you have thought of before regarding the said issue. By any chance, if your first plan fails and doesn't work properly and there are difficulties in the implementation of that plan, so you can have another option. It’s just a precaution, if your plan doesn't go well, then you can turn to the next better option so that your problem can be resolved as soon as possible.
It is never easy to make decision especially when you have just begun with your startup, one needs to be very careful before taking any step. Analysing the situation, consulting with a senior or taking feedbacks from your team, through these you can take a tough decision quickly which will benifit you and your business.