How to Prioritize Entrepreneurial Decision-Making
Being an entrepreneur is a 24/7, ‘round the clock job. A lot of people feel that being an entrepreneur is easy, but it most certainly is not. The job is truly a lifestyle, and while there are quite a few different elements to the position, one job stands out above the rest: decision making. As an entrepreneur, you are tasked with making decisions, both large and small, that can have a major impact on your business’ success. And when you’re dealing with so many different decisions in a day, it can be difficult to figure out which ones you should tackle first. It’s just a part of the entrepreneurial process.
So, how can you prioritize? Here are a few tips and tricks on how to organize your decision-making list.
Does it help your customers?
At some point in your hectic day, take a moment, take a big step back, analyze the specific task and ask yourself, “is this decision going to improve the customer experience?” This is something that is often overlooked in business, but it certainly shouldn’t. Without customers, your business wouldn’t exist. You need someone to buy your product/service. Sometimes, and I do mean sometimes, that means making smaller sacrifices. If your specific task can directly influence a customer experience, but not necessarily benefit your company, do it anyways. Brand loyalty is a huge factor in a business’ success.
Will it hurt your team?
Let’s say you have two employees who are quarreling over a client issue. The issue has nothing to do with the client, but rather, two employees with abrasive personalities. While you want to prioritize your tasks and decisions in a way that improves the business’ success on a public-facing level, you most certainly want to ensure that your internal structure is sturdy. If your employees are upset, tend to the issue. Don’t brush it off as something minor that will pass; it can get worse, and potentially get to a point in which collaboration is halted, and your business is unable to function. That’s when the customers get upset. And that’s when you can lose business. Take some time and make sure your team is happy.
Will it benefit your company’s mission?
Every business has a mission, and every business has its own unique way of working on that mission. Your day is made up of a million-and-one separate decisions that must be made. Prioritize them by asking yourself, “is this aligned with the company’s mission?” If you know that, at the end of the day, a task will directly impact your company’s mission, either through profit or customer experience, then it’s one that should be prioritized. If not, you can leave it for another day, or delegate it to someone else.
As an entrepreneur, you will be overwhelmed with decisions; it’s inevitable. But, the difference between a good entrepreneur and a great entrepreneur is the ability to prioritize those decisions. Hopefully these tips can make that process a bit easier.