Friday, February 13, 2009

Good decision making keys

The most challenging part of entrepreneurship is decision making. Passion, luck or serendipity may get you in the game however the ability to make good decisions on a consistent basis moves you forward.

Erin White's article offers advice on good decision making

People need to recognize that we are biased in every single situation. There's no such thing as objectivity.

The first thing leaders should do to reduce their odds of making bad decisions is walk into an important decision situation saying, "Ok, I know that we are potentially biased in a variety of ways. Let's try to identify what those are."

Second is to avoid the "yes man" trap. You have to bring different people and different data sources to the table. You want to add a "no team" to argue against the proposal, and put some teeth behind that no team.