Decision making is one of the most important skills a leader needs to possess. A key determinant in how successful you are as a decision maker is your ability to communicate with and influence others.
Today’s post is by Paul Petrone, editor of The Learning Blog for Lynda.com.
The fate of your career will come down to your ability to make decisions.
When most people start their career, they spend time mostly on execution. But, as people start gaining experience and moving up the ladder, it comes less about execution and more about decision-making.
At the highest levels of business, such as the C-suite, it is all about decision-making. And the leaders who make great decisions will build great organizations, whereas the leaders who make poor decisions will build poor organizations.
So, how do great leaders make great decisions? In his Lynda.com class Decision-Making Fundamentals, leadership coach Mike Figliuolo laid out a winning decision-making process. And part of that is asking yourself these nine questions, as they all impact your decision and force you to think through each part of it.
The nine questions you should ask yourself before making any decision are:
1. How big is this decision?
And, the follow up question, “Can I break this decision into smaller decisions?”.
A common fallacy is that you think you have to go all-in with one decision. That occasionally is the case, but more often, there’s the potential to break it into smaller decisions. Then, you can see one decision performs, before making the next.
2. How irrevocable is this decision?
Sometimes, there is no coming back from a decision. For example, you can’t reverse a layoff – once you let someone go, you let him or her go.
However, other decisions aren’t as set in stone. You can make a decision and see how it performs. If it doesn’t perform well, you can change course.
3. What is the cost of being wrong? And what’s the value of being right?