Welcome to Kanselor University. Today we will be showing you the steps to take when you want to make tough decisions in your business.
One of the major killers of businesses in Africa is that business owners have not been taught how to make tough business decisions. Learning to make tough decisions in business is one skill that most African business owners have not taken time to get.
But this is a key skill that will save any African business from collapse. For instance, when you need to reduce cost you need to learn how to make tough decisions of downsizing. This might affect some staff that have worked for your for years.
The president of Liberia should us the importance of learning how to make tough decisions with the way she handled the Ebola crises at its peak. She made the decision to lock in all the people living within a certain radius of the epicenter of the infection.
Just imagine the president of your country saying that you cannot leave a place where you are highly likely to get infected from Ebola. That was a tough decision but it helped curtail the spread of Ebola in Liberia.
Also think of Joseph in ancient Egypt who asked to manage a nation faced with a national famine. He had to make a very tough decision of enslaving the citizens of a whole nation so that he could easily move them to the part of the country that was fertile.
So, here are the steps to make tough decisions in business
IDENTIFY THE STRATEGIC GOAL OF YOUR BUSINESS - You need to be clear on the vision and core goal of your business. Every action you take must be geared towards moving you closer to that core goal and vision. A business with out vision will perish just like a people without vision. When you have a clear vision, you can take decisions that will move you closer to that that vision both in tough times and in good times. The ancient Pharoah of Egypt once handed over the command of his nation to Joseph because the goal of the pharoah was to save the nation of Egypt. Based on that he could make tough decisions to hand control over to a strange former prisoner
HAVE A STRATEGIC PLAN - If you must learn to make tough decisions in your business, you must have a clear plan of how to go about achieving your strategic goal/ vision. Its when you have a plan that you can look at things that do not fit into your plan and making the decisions to cut them off will not be so difficult.
EXPOSE YOURSELF TO TOUGH ENVIRONMENT - Most student doctors throw up the first time they come in contact with a Cadaver which is another name for a dead body used for teaching. But by the time these students have been exposed long enough to these dead bodies, they do long feel anything even while working on the dead bodies. The same thing applies to you. The more you get yourself exposed to an environment where its an everyday and usual thing to make tough decisions in business, the more used to making them will become to you
PRACTICE - The more you practice making a lot of decisions both tough and easy, the more you become used to making decisions. With time, you will not even know the difference between tough decisions and easy decisions because constant practice would have made them both easy for you to make.
TAKE AN EXECUTIVE DEVELOPMENT COURSE HERE AT KANSELOR UNIVERSITY TO BOOST SKILLS IN MAKING TOUGH EXECUTIVE DECISIONS
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