The end of the year inspires reflection. What did we do right, what did we do wrong? What decisions did you make that changed the course of your business, good and bad?
The ability to make good decisions when experience is lacking is the shibboleth of the ‘Elite Leaders’ club.
Good decision-making skills are rooted in the ability to identify assumptions that are masterful at hiding amongst the truths and realities in your organization. Seeing these assumptions and calling them out for all to see is an art.
Inspiring people and helping them grow is the most important thing leaders do; making decisions is second. Thousands of them; big ones, little ones, day after day after …
One of my clients with a massive competitive edge due to their proprietary technology assumed their homegrown director of Information Technology (IT) would always be part of their organization. When I confronted them with the question, “What if {IT Director} quit and went to another company?”, they understood my point.
The thought of the IT Director leaving had never crossed their minds, they’d always assumed he would be there for his entire career. When confronted with the fact that this was an assumption, not a fact, they got it.
Finding these assumptions is difficult and not for the faint of heart. They’re disturbing. They keep leadership teams up at night. They’re potential problems nobody has the time or desire to think about and prepare for, yet they’re the things that can make a Goliath trip, stumble, fall, and be defeated.
To address this risk head-on, start with one reality you believe to be factual and identify all the assumptions related to it.
Once you have identified the critical assumptions, scored and ranked them, identify and evaluate mitigation options. Start with the highest-ranked.
In scoring people, time, and cost, ask yourself if this mitigation option impacts staff. Will it take time from staff? Will it create unexpected costs?
Now you have some tools to help you make decisions.
As the New Year descends upon us, stop working in a vacuum. To find out more about assessing risk and mitigation strategies…
- My Blog has become the information source leaders depend on.
- Buy my book, Businesses Don’t Fail, They Commit Suicide: how to survive success and thrive in good times and bad.
- Email me at larry@mandelberg.biz (or call 916-798-0600) to schedule a relaxed, no-pressure conversation focused on understanding your unique challenges and potential solutions. No sales talk, just an open discussion.
