All the experience and education in the world cannot prevent those moments when as a leader, indecision rears its ugly head. What it can do, however, is help you take uncertainty in your stride and make informed decisions.
If you haven’t embarked on an MBA yet, or are still earning your leadership stripes and don’t feel you’ve mastered the ability to make firm decisions, here are four strategies from Forbes Council Member Patrick Frank that can help:
1. Lean on trusted advisors
Build a team of trusted advisors who have a deep knowledge of a wide array of industries. Being able to connect with multiple perspectives can help ensure there’s no confirmation bias in your decision-making. Be sure to choose individuals who’ve been in leadership positions. They’ll be able to empathize with your struggles and offer more useful insights.
2. Speak to other company leaders
A problem shared is a problem halved, so consider reaching out to other leaders in the company. They’ll have the same incentive to help you decide what’s best for the business. Get in touch with your senior colleagues, share your ideas and really listen to their suggestions.
3. Collect valuable data
Everyone has an opinion, but they’re not always built from the facts. That’s why you need data to back up your decision-making. Asking your teams to put together relevant data will keep you informed, such as sales or marketing reports when considering growth opportunities. Though the past can never be a perfect indicator of future outcomes, it provides the most evidence of a positive outcome.
4. Go with your gut
Don’t let analysis paralysis prevent you from listening to common sense. At the end of the day, the ability to follow your instincts when something feels off will always be the strongest indicator of a great leader. When experience meets instinct and confidence, you’ll find it easier to make decisions.
As a leader, it’s crucial that you never let the fear of making the wrong decision prevent you from making any decision at all. Most importantly, make sure to view mistakes as a lesson. Remember: Pressure is an unsung privilege of being in a position to lead.
