When caught up in your day to day challenges, it’s easy to overlook the big picture. Each action you take towards your business has both a short-term and long-term effect. Unfortunately, most business owners are so fixated on the short-term (immediate goals), that the long-term consequences are rarely taken into consideration.
Each action you take directly affects the sustainability of your organization — one that will create a business model for years to come. Making the right decisions can be cumbersome but is necessary.
This may mean seeking information to make appropriate plans; it also means thinking through what’s right and wrong and making the tough decision especially when its not the most popular one. Here are a few suggestions:
- Uphold Ethical Standards of Your Business.
Think about the values you want to exhibit and uphold. Work these standards into your business and think about them when making tough business decisions. Disregarding your ethical standards can erode your relationships, as well as your business as a whole.
- Weigh the Impact of Your Decision before You Act on Them.
Think about how the things you do today will impact you, your customers and your organization in the future. Make decisions with the collective best interest, rather than your personal agenda, in mind. Avoid actions that will bring you personal benefit at the expense of others.
- Set Objectives that Motivate Action.
Create well-defined objectives that align with your values. Work conscientiously on linking your day-to-day work with your big picture goals.
- Plan Ahead.
Identify the steps necessary to bring important objectives to fruition. When handling a crisis, ask yourself how you might avoid such crises in the future. Always, be on the lookout for impending challenges and brainstorm on contingency plans.
So, next time you are faced with an overwhelming business decision, think about some of these points. Make sure that the course of action you take does not just satisfy the immediate circumstance, but think of the long-term impact as well.
Question: What did I miss? What do you do when faced with tough business decisions? You can leave a comment by clicking here.