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Indecision is a Costly Decision for your Business

Posted on September 17, 2020 | Theresa Bassett

The COVID-19 pandemic has had an adverse impact on almost everyone. This public health crisis has also led to an economic one, placing businesses in an unprecedented position as they seek to navigate uncharted waters. As a result, many business leaders are facing a crisis that has been created by feelings of indecision.


The
path to success is to take massive, determined actions.” ―Tony Robbins

The reality is that indecision is, in and of itself, also a decision. It is a decision not to act, which can harm businesses and create real opportunity cost.  The good news is that there are ways that you can make smart decisions even during these difficult times.  Learn more about how you can combat indecision and help your business succeed even under these challenging circumstances.

Indecision is the thief of opportunity

Are You Having Trouble Making the Right Call?

The truth of the matter is, making decisions can be tough even during typical times. Of course, we are living in an era that is anything by typical. As a result, no matter how much research you do, you might not be able to find the perfect answer. This can lead to the unfortunate land of analysis paralysis.

As a result, indecision becomes your default mode. This becomes your decision. The fear of making the wrong decision keeps you stuck. You feel like you cannot turn your wheels because they are stuck in the mud. The inability to get them out of the mud is, in fact, your decision.  Sometimes we don’t feel like we are stalling that long, but days can easily turn into weeks - and before you know it, you are literally bottlenecking the progress in your business.  Is this you?

The reality is that indecision is the thief of opportunity. By not making decisions, you let opportunities pass you by.  As a result, this indecision also slows your business because this becomes a perpetual cycle. Think of this as a form of negative momentum.

When you are left with indecision, this soaks up your time, money, and opportunities. Businesses that are making massive profits today are those who are able to make decisions. This can be you, too.  You just need to find a way to overcome your indecision and take decisive actions that will leave you at peace.  It doesn’t mean leaping at things without healthy caution - it just means a greater awareness of the tendency you might have to let healthy caution and analysis to turn into genuine sluggishness.

 

Understand the Concept of Business Inertia

If you want to overcome your indecision, then you need to take a trip back to high school physics. Remember that one of Newton’s Laws is that an object in motion tends to stay in motion. An object at rest tends to stay at rest.  If your business is an object at rest, it cannot make decisions. The other part of this law is that objects at rest stay at rest unless they are acted upon by another force.

You are that force...and you as leader can make the decisions that get your business in motion.  Some of the important points to remember include:

  • If you want to get your business moving, then you have to get moving first
  • Remember that money is attracted to speed
  • Moving quickly will help you maintain an edge on your competition
  • If you cannot make decisions quickly in real-time, someone else is going to seize the opportunity from you (your competition may not be experiencing the inertia you are, after all!).

In the end, fear, insecurity, and uncertainty are keeping you at rest. They prevent you from making decisions because:

  • The fear of failure, loss, and rejection paralyze you and your business, so the sooner you conquer your fear, the better
  • Insecurity destroys your positive projections, so choose to build yourself up and have faith in your ideas
  • Uncertainty leads to inaction, so invest in yourself and become more certain in abilities

Instead of second-guessing yourself, make decisions and create momentum for both yourself and your team.  

 

Create Positive Momentum with Decisions

If you want to create positive momentum, then you have to decide to decide. To do this, you have to remember that:

  • No decision is permanent and people who want to slow down do not realize this
  • If you take too long to think about it, then you will miss your opportunity
  • If you wait to have all of the information before you decide, you will never decide

Therefore, decide to decide. Most decisions can be undone and there is more room for adjustment than you might think on the other side.   At the same time, you want to try to make as many good decisions as possible.

 

Make Good Decisions Quickly

In order to make good decisions for you and your company, you should:

  • Commit to your decisions. Be all in on the decisions that you have to make. Always stand behind your decisions even if you have to make changes later.
  • Break the cycle of indecision. Once you break the inertia of indecision, your decisiveness will start to flow. Simplify your decisions, stick with them, and forge a path for your business.
  • Do not stall. You can always find a reason to wait. Instead of waiting, set a deadline, stick to it, follow your plan, and keep your promises to yourself and your team.

You have the ability to make strong, solid decisions that will benefit your company. Believe in yourself and decide to change. Once you make one decision, momentum will flow, you will break down barriers, and progress, growth will happen.

 

Generate Massive Momentum for Your Business

If you want to generate positive momentum for your business, then you need to align yourself with trained professionals who can help you conquer your fears, beat indecision, and move your company forward. Do you know who your supporters and village of builders are?  Create a cadence of momentum by gathering your sales and marketing builders, the leaders in your team that drive progress, and the innovators.  It all begins with you - and that decision to get off the starting line.

About The Diamond Group

The Diamond Group is a strategic growth marketing agency that offers small businesses a proprietary system to create double-digit growth using inbound, content, and digital marketing, website development, and sales enablement tools. Let’s grow better together and have a conversation.

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