Making Tough Decisions

It's true that the only constant in life is change, and as we adapt and react to it we often have to make tough decisions. Sometimes the choices we make will adversely affect people we care about, slow the progress of causes we have a passion for, or stem the tide of personal financial increase. Making tough decisions requires unique strength, and the ability to weather the consequences of those decisions is a mark of true endurance and perseverance.

How do you face and make tough decisions? Business owners make tough decisions on a fairly regular basis. Some are more tough than others.

1. Separate yourself from the issue. In business, it is important to remind yourself to look at a situation objectively and work from the most unbiased standpoint possible. We can easily rationalize what we do when it will save us grief. But when we eliminate our personal emotional involvement, we may discover that the situation takes on a whole new light. Depending on the weight of the situation, I would also recommend removing yourself physically. Take a day or two away. Step out of the everyday, regain your perspective, and make a decision that makes sense whether you are in the trenches or not.

2. Make sure you're focussing on the important factors. This might sound redundant, but just because you've separated yourself from the issue doesn't mean you've appropriately prioritized what is truly important in this decision-making process. Try to nail it down to three utterly imperative factors that must be taken into account. And make sure those factors are really the ones that are most important. One way to do this is to match them against steps and processes essential to your business success. Are these factors the weighty ones that will help or hinder your company from achieving its goals? If not, it might be time right now to re-evaluate how much time you've spent already on this decision.

3. Evaluate possible repercussions. No one can effectively predict the future, but it's invaluable to look ahead and try to determine to the greatest extent possible how your decision will reverberate through your business. Consider both the positive and negative probabilities and possibilities. If you're leaning towards a choice with a number of negative consequences, now is a good time to consider how you will counter those effects and how much they may impact your productivity, business strategy, and ultimately, your success.

4. Take as much time as you need. Tough decisions shouldn't be made easily. Whether it takes you two hours, two days or two weeks to weigh in the factors that need to be considered, take the time to do it. You are the business owner - take as much time as you feel you need to make a good decision. But be careful - don't use the "I need more time" feeling as an excuse to procrastinate. You can only dedicate your time to one god - either Idleness or Productivity. Take the time you need, but take no more than what you need.

5. When the choice becomes clear, make the decision. It's that simple. When the door opens, walk through it. Don't hesitate, second-guess, or procrastinate. It will only cloud your judgment, tempt you to rationalize what shouldn't be rationalized, and draw out a situation that doesn't need time to become more complicated. When the way becomes clear, follow the path.

6. Make a plan. A plan for execution and fallout clean-up of this decision. Maybe it's simple and maybe it isn't. But after the consideration you've given this issue, be sure you consider how to effectively implement that decision and handle all the adjacent side effects. Write it down.

7. Don't look back. When you walk through that door, don't forget to close it behind you. You gave that decision all it required - adequate perspective, weighing in of the important factors and consequences, and time to make sure you'd considered everything appropriately. You made the decision to the best of your ability. Now man up, move forward, and take whatever the fallout is in stride. You made a good decision.

Our economic climate is demanding more and more people to make tough decisions. Are you prepared to face those decisions? As business owners we are concerned with success - both our success and the success of our families and communities. There's no lack of wealth in our system, but the distribution and redistribution systems of that wealth are changing. The value of commodities is shifting and worth is being determined by altering standards. In this kind of uncertain environment, people withdraw into personal circles of security. Loyalties diminish as each individual struggles to find their niche, meet obligations, or simply survive. Trust becomes more scarce as each person seeks to find a way for themselves amidst these fluctuations. As a business owner, you are going to need to make some tough decisions. Take time now to prepare to handle them.

Down Time

As we all know, maintaining balance is key to feeling good and operating at a level of productivity necessary to achieve desired outcomes in all areas of life. While it may not be easy, it is imperative that we recognize, accept and act on some principles that may seem counterintuitive or simply difficult to embrace.

First of all, we must recognize that we cannot maintain optimum productivity in one area 100% of the time. For example, we cannot consistently offer the same level of mental investment into an operating budget for 24 hours straight. Our minds and bodies are simply not given to that kind of intensity for an extended time period. We must take breaks, change our activities, and give different areas of our being the opportunity to exercise. For some people, 20 minutes at a keyboard and 20 min away from the keyboard is a good rule of thumb for avoiding eye strain or carpel tunnel syndrome. Taking a brisk walk before engaging in learning or creative problem-solving can improve our mental capacity and chemically improve our chances of achieving satisfactory ends quickly. The key is to find what works to bridge the gap from where we are to where we are going, and having the courage to embrace it. And know that the answer does not lie in duct-taping ourselves to our desk for 3 days.

Second, we need to recognize that focus is essential. And by that, I do not mean living at the office 365 days a year staring at the same numbers over and over. We need down time. And we must have down time that is as intense and focussed as our work time. It is interesting to note that workers who have little focus at work often tend to have little focus outside of work, as well. They are constantly thinking of work as much as they are constantly thinking about leisure time activities. They are often completely unrested, imbalanced, and tend toward higher stress levels and burnout. When it's time to relax, put your mind, energy and power into something completely and wholly unrelated to anything at work. Focus hard on play and you will find a greater power to focus at work. In whatever activity you are engaged in, focus. Get focus, keep your focus, and don't release your focus until it's time to change that focus. Focus.

Third, recognize that you are the boss. In every situation in which you find yourself, you have choices. You are responsible to ensure that your life is balanced. It is not a decision made by your spouse, your business partner, or your mentor. Choose how you will balance the demands in your life. Choose how you will invest your time. Choose your thoughts as carefully as you choose your activities. Ensure that when it's time to rest from one labour, the other areas of your being are awakened and given their opportunity to exercise. Choose to discipline yourself, balance your energies, and focus. Make good choices day after day, and feel good about those choices as you begin to embrace a successful lifestyle. You are your own boss - no matter what.

Live Deliberately

"I went to the woods because I wished to live deliberately, to front only the essential facts of life, and see if I could not learn what it had to teach, and not, when I came to die, discover that I had not lived."

-- Henry David Thoreau

Be Militant With Your Time

We all have twenty-four hours in a day and seven days a week. Given that we are all equal on that level, how is it that some people seem to accomplish so much more than others? One important key is realizing our ability to pick and choose how and where we spend our time. Get over the "I don't have time" mentality - you DO have time. Lots of it. Embrace your freedom to allot your time wherever you choose to place it. Learning this simple concept will change the way you live your life ... and how you do business.

Key Performance Indicators (KPIs)

A Key Performance Indicator (KPI) is exactly what it sounds like - a number that indicates the performance of an individual or an organization in a key task.

For an excellent look at KPIs in the real world, let's turn to the sports industry. How many times on television have you seen the photo of a professional player with a list of numbers next to them? Every minute detail of that player's performance is carefully tabulated, averaged, compared, and grossed into the team's overall performance; this performance is then carefully tabulated, averaged, compared and modified as the season goes on to determine playoff standing, probability of yearend final standing and the possibility of making history. Every one of those individual stats contributes to a larger number that translates into predictions, player swaps, and the future of teams as a whole.

Coaching is not just for sports - and neither are stats. Every player in a business is part of a team that is shooting for common goals, and their KPIs (personal stats) will translate into team stats; these, in turn, will help indicate how well a business is meeting its objectives.

If someone on your team is having a difficult time developing personal KPIs, have a sit-down with them. Talk about the top five things they do each day and the top five things they do that generate the most revenue for the business. A business runs on time and money, so developing KPIs based on these fundamental resources makes it easy to see the affect of individual's tasks on the business as a whole. Take three of those tasks and make them measurable. A salesman could develop a KPI based on number or dollar value of sales. A process worker could develop a KPI based on how long it takes them to accomplish their task. Once these tasks are identified and scaled, you have a list of trackable, measurable KPIs. (on a sidenote - this is important! Everyone is responsible for certain tasks, and therefore certain KPIs. No KPIs appear where there is no specific performing player! ie: every KPI should have a name attached to it.).

Develop KPIs this week - get a clear idea of how well you are performing. Start keeping stats, and stay tuned for the best ways to use your KPIs to get measurable/quantifiable results ...