Make a decision and make it fast
The ability to make a decision is one of the basic characteristics of any manager. Well, not any, but successful ones. However, it's not easy to make a decision because everyone wants to be happy.
Stakeholders wants more bang for their bucks, workers wants more money, market want more new products, and family want you to come home from time to time. Add to that the usual stuff such as market conditions, the competition and financial crisis, and you are on the way to psychiatry.
A huge number of people wants to a be a chief executive and to lead a company. It's fun and you make enormous amounts of money, they think. And indeed, it is funny and the money is good - until bad times come. When colors are gone and grey is all around us our ability to make decision is in danger. And we don't mean "the ability to make a good decision", we mean "the ability to make a decision". Any decision.
Some people just break under pressure. They collect advisers, order researches, go to seminars, read trying to figure out what's wrong, but they don't make a decision. They are busy as a bee, but there's no results. When the time finally comes and somebody ask: "Boss, what should we do?", there are no answer. The fact is that they should feel lucky because they still have a company.
The worst thing to do is to do nothing. As a manager, you must make a decision, be it good or bad, nice or ugly times, the decision is yours. That's a simple rule but some people tend to forget it somewhere along the way. Don't be afraid of mistake. Making decision is your job and you must show the way to others, that's the fate of a manager.
If you make a good decision you will feel good. If you make a bad decision you will learn something. This way or another this is as win situation for you. And remember: The more you wait, the more opportunities you lose. Don't wait too long. ■