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Red Rocket Ventures: The Art of Decision Making

A startup executive needs to be knowledgeable, intuitive, receptive, nimble and flexible in their decision making process.  Today’s lesson will provide a few recommendations for mastering this art of decision making.

Knowledgeable.  Having a core base of information to work with is pretty self-explanatory in any making any decision.  Making a good decision requires you have a solid grasp of the key variables at hand, and which of those variables have the highest chance of leading to your most desired outcome.  If you don’t feel you have enough information to make a good decision, it is up to you to ask the right questions to help you address that decision.  And, it is up to you, to know your own personal limitations, seeking internal or external assistance to help you formulate a well-thought action plan.  As a rule, make sure you have enough information to prioritize your decisions around which actions will most “move the needle” in terms of driving or protecting revenue.

Intuitive.  Sometimes, being smart is not enough to make a good decision.  Some decisions cannot be easily researched ahead of time.  And, in those cases, you will need to follow your gut instincts.  Nine times out of ten, your gut instinct will always pull you in the right direction.  I call it having a “spider sense”.  Learn to nurture and follow those instincts, even if it is contrary to everything else you are hearing from others.  And, don’t be afraid of making a mistake in the process.  Sometimes you just need to go for it.

Learn more from George Deeb about the art of decision making here.

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