10 Tips To Help You Make Better Business Decisions

Miša Hennin
Miša Hennin Admin, MeisterLobster, EN Business Posts: 1,652 Community Admin
edited February 2023 in Community Café
image.png

Good morning!

Have you ever made a business decision that came back to bite you 😬? Don't worry - you're not the only one! So many issues can arise during the decision-making process that sometimes it can feel almost impossible to do things right 😭.

Inspired by the difficulties decision makers face, our content writer @Caitlin Hughes wrote this brilliant blog post. She considers the reasons we struggle when making decisions and proposes solutions to overcome them. Here are Caitlin's top ten tips for making better decisions:

  1. Gather and Centralize Information
  2. Prioritize
  3. Consider Your Options With a Decision Tree
  4. Plan Your Projects
  5. Support Your Team
  6. Invite Input From Others
  7. Embrace Feedback
  8. Analyze Using SWOT and PESTLE
  9. Address Conflict in a Controlled Environment
  10. Build a Healthy Workplace Culture

To find out more about each of these, head over to the full article where you can also read the 3 types of business decisions managers have to make, the consequences of poor decision making and FAQs 😍.

We'd love to hear your tips and experiences in making business decisions. Do you have any of your own tips to share? Do you disagree with any of those above? Let us know in the comments below 😃.

Best,

Miša

Tagged:

Comments

  • Andrew Lapidus
    Andrew Lapidus Admin, MeisterLobster, EN Business Posts: 1,007 Community Admin
    edited February 2023

    Thanks for sharing, @Miša, and thanks for taking the time to create such an interesting deep dive into business decision making, @Caitlin Hughes!

    Your piece on the importance of prioritization reminds me of this excellent insight from @Andres D'Andrea. Also: a SWOT matrix played an important role in our choice of community platforms last July, so I was happy to see you giving that method some airtime!

    Thanks again!

    Best,

    Andrew

  • Admin BSF.company
    Admin BSF.company MT Tester, EN Pro, EN Business Posts: 481 Community Leader
    https://community.meister.co/discussion/794/10-tips-to-help-you-make-better-business-decisions

    Pretty insightful piece of content @Miša! Bookmark worthy stuff we have in this one.

    Definitely, learning to make better decisions is a lifelong journey, and that post by @Caitlin Hughes certainly helps a lot. Thanks for sharing it 👍 I believe it deserves a promotion 📈⬆

    Thanks also for the tag @Andrew Lapidus and the link to the matrix idea.

    Best regards and happy weekend 🥳

    Andrés D'Andrea.

    Follow me on LinkedIn and:

    BSF.company - Digital Solutions For Your Business.

    Technopreneuring.Com - Optimize Resources. Maximize Results.

    GestionOperativa.Com - Optimiza Recursos. Maximiza Resultados.

  • Caitlin Hughes
    Caitlin Hughes MeisterLobster, EN Business Posts: 2 Beginner
    edited February 2023

    Thanks for putting this in the spotlight, @Miša 🙂 It's nice to read the positive feedback - glad it's getting some love! There's just so much that can be said on this topic and I'm looking forward to reading more of everyone's tips. @Andres D'Andrea, the prioritization method you shared in your post is really helpful - there's nothing more satisfying than a tidy Agenda! Thanks for highlighting that, @Andrew Lapidus 🙂

  • Admin BSF.company
    Admin BSF.company MT Tester, EN Pro, EN Business Posts: 481 Community Leader

    I'm glad you liked it @Caitlin Hughes 👍

    Great post btw...

    Best regards.

    Follow me on LinkedIn and:

    BSF.company - Digital Solutions For Your Business.

    Technopreneuring.Com - Optimize Resources. Maximize Results.

    GestionOperativa.Com - Optimiza Recursos. Maximiza Resultados.

  • Miša Hennin
    Miša Hennin Admin, MeisterLobster, EN Business Posts: 1,652 Community Admin
    edited February 2023

    Hey @Jörg Koper as you run a consulting agency I wondered whether you might have any insights here?

  • Admin BSF.company
    Admin BSF.company MT Tester, EN Pro, EN Business Posts: 481 Community Leader

    In my view, the most important thing in business decisions is a holistic approach. Both the pros and cons of a topic must be carefully weighed, everyone involved must be listened to carefully, and in the end the decision must be made and pursued confidently.

    ☝ I like this quote @Jörg Koper!

    Strongly agree with you on this one, there's no such thing as "one size fits all" in business ops.

    In my experience, I've seen many organizations struggle with finding a good balance between standardization of procedures and flexibility when chaos strikes.

    Constant feedback loops and the teachings of Eric Ries in his book The Lean Startup are great antidotes for those issues.

    👇 I like this one too:

    This also includes good self-management on the part of everyone involved. I have seen many good projects fail due to a lack of teamwork and chaotic working methods of individual participants.

    Team cohesion is definitely a "must" for a company of any size that hopes to be successful. Great leadership is required for that to be true.

    I enjoyed reading your thoughts, thanks for sharing 👍

    Follow me on LinkedIn and:

    BSF.company - Digital Solutions For Your Business.

    Technopreneuring.Com - Optimize Resources. Maximize Results.

    GestionOperativa.Com - Optimiza Recursos. Maximiza Resultados.

  • Joerg Koper
    Joerg Koper MT Tester, DE Business Posts: 1,482 Community Leader
    https://community.meister.co/discussion/comment/2736#Comment_2736

    Good Morning mate 👋😉

    Your additions round off my thoughts very well. Much appreciated @Andres D'Andrea 🙏

    Als Experten-Partner von Meister führe ich in meiner Agentur u. a. Workshops für die Integration der Meister Software durch. Hier in der Community freue ich mich auf den Austausch mit Euch und helfe bei Fragen zu MeisterTask, MeisterNote und MindMeister gerne weiter.

    Weitere Informationen findest Du auf agenturkoper.de und LinkedIn.

  • Miša Hennin
    Miša Hennin Admin, MeisterLobster, EN Business Posts: 1,652 Community Admin

    Hey @Jörg Koper, decisions reign everywhere which sucks for me because I am terrible at making them 😭.

    Thanks for adding the Business Model Canvas to the list of tips!

    Although I understand you are not writing about your personal framework, I wonder if you can share why you felt the need for developing your own framework? Or which aspects other frameworks and solutions weren't sufficiently addressing?

    Your point on good self-management reminds me of @Andres D'Andrea' recent Book Club contribution. He also mentions the importance of unified team work/ leadership and organization.

    Best,

    Miša

  • Joerg Koper
    Joerg Koper MT Tester, DE Business Posts: 1,482 Community Leader
    https://community.meister.co/discussion/comment/2802#Comment_2802

    Hi @Miša,

    next time I'm in the UK I'll give you a Coaching, so you can make decisions in a relaxed state of mind 😉

    Our personal framework is in a progress at the moment. The most important reason for us to develop our own framework was the combination of consulting and coaching, in which we in turn also include our own solution approaches. We work on a 5-step approach at the moment, which we call the "5-knot model".

    To be honest, I bought the book after the recommendation of @Andres D'Andrea, and now I am very excited to read it as soon as possible 😋

    Best, Jörg

    Als Experten-Partner von Meister führe ich in meiner Agentur u. a. Workshops für die Integration der Meister Software durch. Hier in der Community freue ich mich auf den Austausch mit Euch und helfe bei Fragen zu MeisterTask, MeisterNote und MindMeister gerne weiter.

    Weitere Informationen findest Du auf agenturkoper.de und LinkedIn.

  • Miša Hennin
    Miša Hennin Admin, MeisterLobster, EN Business Posts: 1,652 Community Admin

    Hey @Jörg Koper that would be AMAZING 🤩.

    Sounds really interesting - thank you for sharing your thought process 😁. And super cool to hear you bought the book! Andrés has added some really developed ideas to that post...I'm heading over there now, might see you there!

    Best,

  • Joerg Koper
    Joerg Koper MT Tester, DE Business Posts: 1,482 Community Leader
    https://community.meister.co/discussion/comment/2845#Comment_2845

    OK Miša,

    we'll have a coaching-appointment when Barbara and I are back in UK 😋

    See you in Andrés post 👋

    Best, Jörg

    Als Experten-Partner von Meister führe ich in meiner Agentur u. a. Workshops für die Integration der Meister Software durch. Hier in der Community freue ich mich auf den Austausch mit Euch und helfe bei Fragen zu MeisterTask, MeisterNote und MindMeister gerne weiter.

    Weitere Informationen findest Du auf agenturkoper.de und LinkedIn.

  • Lina
    Lina EN Basic, MT Tester Posts: 22 Active Contributor

    Great food for thought here! Thanks for these expert insights 😊

  • Vasile Stoica
    Vasile Stoica EN Basic Posts: 17 Active Contributor
    edited September 17

    Decision-making is crucial for business success, but it can be challenging.

    I particularly appreciate the emphasis on gathering and consolidating information. It's easy to get overwhelmed with data, but having a well-defined process for collecting and organizing it can make a significant impact. In my experience, consolidating customer feedback on a single platform allowed us to identify recurring problems and make informed improvements to our product.

    I'd also add that it's essential to be flexible and adaptable. Even the best-laid plans can go wrong, so being able to change direction is crucial.

    Has anyone else experienced the negative consequences of poor decision-making in their business? I'm curious to hear your stories and how you addressed them.

Categories