| | | Five Ways to Make Hard Decisions Easier
 Have you ever had to make a decision that was so monumental that you were nearly paralyzed with fear? If the answer is yes, don't feel bad. You are definitely not alone. One of the hardest parts of being an EntreLeader is making those tough calls, especially when you know that whatever you decide affects others around you.
In fact, Dave says fear is the ultimate cause of paralysis. Still, he never makes decisions based on it. Instead, he has a system that allows him to make the tough calls. As Dave teaches in EntreLeadership Master Series Lesson 18, elements of good decision-making include these five steps.
1. Setting a Deadline
Come on. You know you've done it. You put off making that tough decision by simply justifying your procrastination. I can't decide until my office is clean. Who can think in a dirty office? Combat the "put-off" syndrome by giving yourself a deadline and placing it on your calendar. It will force you to deal with whatever is happening.
2. Taking Your Time
This may seem odd since we just told you not to procrastinate, but part of making good choices is taking your time on monumental decisions. How do you know if the decision is big? Dave says measure it by: - The amount of money involved
- The amount of time involved as the result of the decision
- The number of people involved.
The more of the above, the more you should reflect on your decision. What about the small choices? Those decisions should be almost instantaneous. Don't waste time on the inconsequential.
3. Gathering Options
Remember that famous line from Dirty Dancing? "Nobody puts Baby in the corner." Well, by giving yourself a number of options, you can be as corner-free as Jennifer Grey. Options take away a lot of the fear of making the wrong choices. If something doesn't work, Plan B is always available.
4. Gathering Information
The late British Prime Minister Benjamin Disraeli once said, "The most successful man in life is the man who has the best information." And when it comes to decision-making, we agree. The more information you have, the easier it is to recognize the best choice. As Dave says, "Information removes fear."
5. Avoiding Financial Risks
When making a decision, Dave always asks himself and his team if the company can handle the financial hit if everything goes south. In fact, when an idea is launched, it must meet the following financial criteria: - If the product fails, the consequences can't be financially fatal
- No money can be borrowed to launch the product
To become a true EntreLeader, you must be able to make decisions. By having the right elements in place, the process is much, much easier. Fear tends to melt away. As with anything, there's no guarantee you won't make a mistake. But instead of killing your business, you can chalk it up to a lesson learned.
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Jim Collins
Best-Selling Author
We tend to think decisions are all about specific kinds of strategies or tactics—what direction we're going to take or product we are going to produce. But the single most important skill of a great leader is the ability to make great people decisions.
If someone were to ask you at the end of your career to name the 10 best and most important decisions you ever made, at least seven of them should be people decisions. Think about it. What is more important: the career you choose, or who your mentors are? Where you live, or who you are married to?
Leaders of good-to-great companies start not with "where to drive the bus" but "who should be on the bus." And they stick with that discipline—first the people, then the direction—no matter how dire the circumstances.
About Jim
Jim Collins is a student and teacher of how good companies can become great companies. Having invested nearly a quarter of a century of research into the topic, Jim has authored or co-authored six books that have sold more than 10 million copies worldwide. They include Built To Last, Good To Great and How The Mighty Fall. His most recent book is Great By Choice: Uncertainty, Chaos, and Luck—Why Some Thrive Despite Them All, co-authored with Morten Hansen. It answers the question: Why do some companies thrive in uncertainty, even chaos, and others do not?
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