No action – no traction

Description

So many business owners seem to be afraid of taking action. Or is it more that they are afraid to make a decision?

Inaction is death by small cuts to a business. Of course many decisions are important, and some of the bigger decisions have huge financial profit or loss attached to them. For the bigger decisions research is the key and when you’ve researched, consulted with experts and made a list of pros and cons – then it’s decision time. Inaction means that the market may leave you behind or your competitors get the jump on you or that great supplier you found has put his prices up.

Decisions with less impact can always be implemented for a three-month trial and then evaluated. If the new plan or process isn’t working, well either go back to the drawing board, or tweak your plan based on the results of your three months. Either way, you have good intelligence that you can use when making other decisions.

Inaction is frustrating for your teams, or your franchisees. People get tired of waiting for change when they can see opportunities.

These days, leaders often get bogged down with huge task lists and so many issues competing for their time. Delegate as much as you can. Use your experience to handle the big issues and to make the big decisions. Whatever it takes, get off the fence and choose one side or the other.