To kick off the first episode for my new Monday segment Monday Mindset we're talking about decision making in business to help you figure out your next best step.
In this episode I'll take you through:
1) The decision making challenges entrepreneurs face
2) The 5 styles of decision making
3) The 7-step decision making process
4) 3 more decision making models
5) Goal-setting and how to set SMART goals in your business
If you prefer to read and watch rather than listen - keep scrolling down for my walk through of each of these ideas in today's blog post.
The decision making challenges we face
In 2020 there were some unique challenges we faced as entrepreneurs and business owners but as the year dawns on 2021 I want to focus on the common global challenges we face as entrepreneurs (and humans!) when it comes to decision making in business.
Challenge 1: Idealistic to a fault
As visionaries, creatives and deep thinkers who are open to ideas that disrupt the status quo we can get pretty dedicated to our work.
Many of us are prepared to work long hours to bring about the change we want to see in the world and we can have a hard time with creating a sustainable way of life for ourselves and the people who come along for the ride with us.
An unsustainable way of life isn't the only problem of being too idealistic. It can also be what stops us from facing our problems head on.
The results from a 2014 study by the CT corporation revealed that whilst there is a strong desire amongst many millennials to start and grow a business, many felt they wouldn't in fact be capable of successfully launching a business.
This study was discussed in a Bplans article: The millennial entrepreneur: Idealistic or realistic? highlighting how we may indeed be getting in our own way when it comes to getting our business off the ground.
I've witnessed this numerous times and have fallen into this trap myself because it is in the pursuit of perfection we sacrifice momentum. Instead of moving forward, failing and learning in the process we get stuck, we procrastinate, we over plan and we give up before we've even really begun.
Below is the infographic put together by Bplans highlighting the aspirations, barriers and attitudes of millennials towards entrepreneurship.