The Hidden Cost of Indecision
Leaders know how to make decisions, they make them every day. And every day there are other decisions that aren't made. Some call this kicking the can down the road, others call it indecision. Whatever you call it, the hidden cost can be great in many ways. There are opportunity costs, such as lost revenue for not taking advantage of a new opportunity. There are the hidden costs of a fractured company culture because decisions that seem clear to everyone else, always get put off. Indecision can have a paralyzing effect on the momentum of an organization or a team.
Which decisions seem to be put on the back burner? Could it be those where there is not a clear-cut answer, where there are people’s livelihoods involved, and when perhaps the risk of making the wrong decision appears to be too great. Risk typically plays an important role in indecision as well. How about emotions and empathy, these two factors also play into the amount of risk someone is going to take in making a decision. So what are some things that we can employ to help minimize risk in making decisions?
Trying not to oversimplify this, but by having a clear plan or a vision of what the expected outcomes should be, the easier the decisions can be made. I said easier, not always easy. And without that vision, each decision seems to be made in the dark, with more uncertainty and complexity, which leads to higher levels of perceived risks and anxiety. Ugh!
If you feel like your business isn’t moving as fast as it could or the to-do items for the meetings never change, maybe it’s time to look back at your expected outcomes. Take a hard look at how well you’ve defined them and more importantly, how well they have been communicated to your team. Study your situation, and work with your internal and external team to come up with the proper course-correction action items as needed. Make the decision to move ahead today! Good luck and have fun.
Mike Philie can help validate what’s working and what may need to change in your business. Changing the trajectory of a business is difficult to do while simultaneously operating the core competencies. Mike provides strategy and insight to owners and CEOs in the Graphic Communications Industry by providing direct and realistic assessments, not being afraid to voice the unpopular opinion and helping leaders navigate change through a common sense and practical approach. Learn more at www.philiegroup.com, LinkedIn or email at firstname.lastname@example.org.
Mike Philie leverages his 28 years of direct industry experience in sales, sales management and executive leadership to share what’s working for companies today and how to safely transform your business. Since 2007, he has been providing consulting services to privately held printing and mailing companies across North America.
With the changes in technology, market conditions and client expectations, business leaders can no longer wait and hope things will improve on their own. Business transformation is no longer a once-in-a-lifetime event. Rather, it has become an ongoing reality.
Changing the trajectory of a business is difficult to do while simultaneously operating your core competencies. Mike provides strategy and insight to owners and CEOs in the Graphic Communications Industry by providing direct and realistic assessments, not being afraid to voice the unpopular opinion and helping leaders navigate change through a common sense and practical approach.
His no-nonsense presentations offer tools for organizational change, performance management and strategic sales growth through both organic sales and acquisitions.