How do the best decision-makers make the best decisions? Here’s what I’ve learned through hundreds of interviews over the past 25 years. The big secret? It’s not about the strategy. It’s about execution. How do you measure up? No excuses.
Don’t decide – Extinguish your inner control freak. Stop making decisions you don’t need to. Pretzels or chips at the division lunch? Who cares? Order of the agenda? What difference does it make? Each of these little imperatives takes energy, the energy that you should be expending on more critical issues. If someone has to decide, let those who are most invested do so.
Prioritize – Every Monday morning, make a list of the problems and decisions that will require your attention and energy. Assign each a level of important from 1 to 5. Ditch the 1’s. You shouldn’t be making them. If you can, delegate the 2’s and 3’s. Concentrate on the 4’s and 5’s. Easier said than done? Of course! But those making the best decisions have made this, or something like it, a practice that defines how they approach each week. Not only does it help them improve personal productivity, it inspires those around them to do the same. After all, if you want the boss’ attention, you should emulate their habits.
Delegate – If someone else can make the decision, why should you? Not only is delegation a good way to remove tasks from your plate, it’s a great to observe others in action. How well they handle what you assign is a window into their capabilities and investment in the job. Don’t just dump, however. Explain the meaning and value of what you’re assigning. If you can’t do that, maybe the task doesn’t need to be completed or the decision made.
Get clear – For each decision, ask “What will success look like? Then benchmark against this desired outcome, until the decision is made. Others’ input? Is it relevant to a success outcome? Information gleaned from research? Should it influence the decision? A compelling argument from colleague? Should it impact how you act? More data is not necessarily better, many times it’s just more data.
Spend your energy on the decisions that count – Economist Herbert defined “satisficing” as not making the best decision but the one that’s good enough. Ninety-five percent of daily decisions are “satisficable.” But it’s those five percent that impact your productivity and effectiveness. While the best decision makers certainly deal with their fair share of the urgent, they are careful to guard their energy. Fifty little decisions can drain time, focus and leave little energy for concentration.
Set aside time – Got a big decision to make? Get away and think. The people I’ve interviewed disappear to a location where they can concentrate without distractions. Those with whom they work learn that these times are sacred and disrupting them will get you on the wrong side of the boss. Some take time when necessary. Others set aside the same time every week. Significant decisions are then funneled into these periods for real concentration.
Decide! – If you’ve gathered the best information and are as close to peace as you can get, act. No matter what you decide the outcome will be different than you expect. Why? Because people are unpredictable and life happens. The best decision-makers accept this and prepare for what could happen and how to respond. They also learn from these outcomes and use them to inform other decisions going forward.