In a recent article on his blog, he explains that during 50 years in the world of business, a few basic rules proved to be the right ones for him when deciding whether or not to do something.
1. Don't rely on the first impression
Be careful that your first impression does not affect the objectivity of your judgment. Rationally consider all the pros and cons.
2. Put together all the information
Don't rely solely on the information presented to you. Either yourself or with the help of colleagues, find out as much information as possible and try to uncover all the circumstances, including the hidden ones.
3. Decide with regard to your other activities
Always consider what else you are doing at the moment, what can be postponed until later and what not. If there is no room for a new project, then it can't be helped.
4. Make decision-making easier for others
If you have already decided and want support from other people, ensure your project contains an absolute minimum of disadvantages for them.
5. Don't be in a hurry
The more information you get prior to the decision, the better. That does not mean endlessly analysing your possibilities while putting off the decision indefinitely. Just look at things from a wider perspective: you may find better alternative solutions or the market situation will change.
And remember to believe in yourself.
What have proved to be the best steps for you when deciding on important business issues?
-kk-