Business Decision Making | How to Make Profitable Decisions

Do you regularly feel indecisive in your business? Maybe you feel like you make the wrong decisions sometimes, or procrastinate when it comes to doing things because you feel unsure it’s the right decision? If so, you need to watch this video (we’re making that decision for you 😆)

Here’s the thing, business is sometimes tough, and your ability to make confident decisions on what to do is going to propel you forward or hold you back.

But that’s easier said than done, so here’s some top tips and strategies on how to make better business decisions.

👉 Watch the video


RELATED VIDEOS:

▶️ What You Should and Shouldn’t Outsource

▶️ How to Smash Ridiculous Goals

ATOMIC TRAINING:

▶️ Organised Chaos


If you regularly feel indecisive in your business, that maybe you make the wrong decisions sometimes, or procrastinate on doing things because you feel unsure of the right decision to make, then you need to watch this video.

We’ll make that decision for you 😆

Here’s the thing, business is sometimes tough, and your ability to make confident decisions on what to do is going to propel you forward or hold you back.

But that’s easier said than done, so here’s some top tips and strategies on how make better business decisions.

The two extremes – Which one are you?

Now there’s two extremes when it comes to how you make decisions.

On the one side you might be a Sandy Head… These are people who put off every big decision, stick their heads in the sand and just ‘get on with’ the day to day running of their business.

If you’re a Sandy Head you’re probably frustrated in your business growth, but don’t really know what to do.

On the other extreme, you might be a Speedy Feet… A Speedy Feet is someone who has an idea and implements it as quick as possible 👣

It sounds good in principle, but actually Speedy Feet often get frustrated that ideas don’t work out as they’d like, and often a lot of time is wasted implementing stuff that doesn’t result in anything.

So think about where you are right now? Are you more Sandy Head or Speedy Feet?

Honestly… for the first few years of business we were Speedy Feets – never sitting still, always coming up with new business decisions and implementing them QUICK – it was exhausting, and we got nowhere because we didn’t think things through enough.

So why do we do this?

Why do we either stick our heads in the sand, or go a million miles in the wrong direction, and how do we stop doing that to make better business decisions?

Well you may have heard the phrase…

Buying Decisions are 80% Emotional and 20% Logic

That’s why we have a ton of stuff in our office that we don’t want or need right… like a prisoner outfit 🙈

We buy stuff because our gut tells our brain WE WANT IT.

And we’re convinced that most business owners are using this same principle to make decisions…

80% is emotional and 20% is logic.

And that’s why they end up with a ton of stuff in their business that they don’t want… that’s why we spent the first few years of our business doing everything we WANTED to do and got nowhere and why you may have a face full of sand right now.

So… what do we do?

We’re not saying remove that emotion all together, you do need to listen to your gut, and use your emotion… especially if you’re good at doing that… but this is what we’ve been trying to do with BIG decisions and it works a treat….

Use 80% Logic and 20% Emotion

When it comes to using making business decisions on things like:

👉 Should I put my price up?
👉 Should I go to that event?
👉 Should I join ATOMIC?
👉 Should I stop selling this thing?
👉 Should I launch this other thing?
👉 Should I dare pitch to speak on that stage?
👉 Should I launch a podcast or keep blogging?

Questions like this… which sometimes are REALLY hard to answer… think about how you can take EMOTION out of the question, and replace it with logic.

For example we were talking to someone who has a podcast the other day, and she’s been growing this podcast now for over a year, and has a small but loyal audience… and she was telling us that she’s just bought all the gear to launch a YouTube channel… when we asked her why, she said ‘I just really fancy it’.

That’s a decision she’s making on emotion alone, and it’s risky… it has the potential to pay off… her YouTube channel could do better than the podcast if she does it right. But it also holds the risk to take away any momentum she has built with the podcast… the podcast is growing, if she has extra time to launch a YouTube channel… why not spend that time on getting the podcast to where it needs to be?

It’s a playoff right… and it’s easy to follow the route we really want to, so how do we use logic instead to make decisions? Well here’s two tips.

Tip 1. Bring it back to the numbers when you can

Any decisions that are going to directly affect our profit, things like product launches and pricing, we always run through a cash flow forecast to see how it affects the overall business.

Tip 2. Can you get data?

Whether quantitative or qualitative data, if you just don’t have enough information to use logic, then go get that information.

For example, before you launch something new try selling it to 10 people who are perfect for it. If you can’t convince any of them to buy, then maybe something needs to change.

Next time you’re making a business decision… we want you to think to yourself, am I using logic or emotion, and how is it possible to use more logic?