Are you stuck in analysis-paralysis?
Do you get stuck in analysis-paralysis?
As a business owner, we are often faced with so many decisions on the daily, ranging from big to small - whether you are a solopreneur or CEO leading a team.
Analysis-paralysis is where you overthink or overanalyse when making a decision - leading to no decision at all.
These days there is an abundance of choice, options and information which can make it even harder to make decisions.
We all want to make the most optimum decision with the best available data and to avoid the negative outcome of a wrong decision especially in business. But there is rarely a perfect decision and sometimes no decision at all is the most negative outcome.
Here are our go-to tips for beating analysis-paralysis:
Set a firm deadline. You can think & analyse to your heart’s content up until that point but once the deadline hits you have to make a decision - wherever you’re at with whatever information you’ve got.
Don’t sweat the small stuff – don’t use your finite brain power for more inconsequential decisions so you can be more decisive when it comes to bigger ones in your business.
Try stair-stepping – this one sounds like a hard-core cardio exercise (!) but it basically just means breaking big decisions down into actionable micro decisions which are easier to make.
Talk it over - seek the opinion of someone who thinks differently or has a different skillset to you. This might inject some fresh thinking into your decision-making. Perhaps speak to an accountant about the details of your numbers if they intimidate you or speak to someone who is a big-picture thinker if you easily get bogged down in the minutiae.
Know when to call it a day. Deciding on something when exhausted after a long day will likely lead to a fruitless downward spiral of analysis-paralysis late into the night. Coming back to it in the morning always seems to hit the reset button.
Do you struggle with making decisions as a business owner? Or do you just go with your gut & move on? We’d love to know!
If you are struggling with making business decisions because you can’t make sense of the numbers - we can step in and help you feeling calm & confident about your business finances so you come off that indecision roundabout. Get in touch with us to discuss how we could help you.
