Saturday, April 7, 2012

D is for Decision Making (And Determination)

This is a catch-up post for a month long blog series called "The A to Z Challenge." D was Thursday's letter and on the Jaclyn Of All Trades blog, D stands for Decision Making (and determination to get caught up on this challenge).

I fell asleep early tonight. Long gone are the Saturday evenings where I stay out until 2:00 am and wake up sleep deprived on Sunday. These days and nights, I'm making decisions based upon what will serve my long term goals, not short-term satisfaction. 

Decisions: stay in, get at least 8 hours of sleep, drink plenty of water, workout 4-5 times per week, improve my business daily, blog, have a little fun a long the way while learning to lighten up a little. (I also decided to use my time wisely tonight since I woke up two hours after falling asleep and post this overdue blog!)

What about you? What are some of the decisions you are making for yourself? 

Personally, the thing I love about decision making is that it's an ongoing process, one we all face. So many decisions, so many outcomes. 

I "decided" to launch a business almost four years ago. I called it Momentum Marketing and Consulting because I wanted to convey a sense of urgency and speed around the work I was performing for my clients.

The only trouble was, I had no plan. I had no competitive market analysis. I had no help and I certainly had no idea how to make money. I can admit, I decided that as long as I covered my costs, I was in good shape which, in hindsight, was total business brain fail and that’s a tough pill to swallow!

But what I did learn from that particular decision was so valuable, which is why I am bringing up this topic here. I am frequently approached for advice on decision making especially as it pertains to business.

How do I build my online presence?
How do I make the most of a minimal budget?
How do I make money?
How do I determine who my customers are?

And my answer is that decision making in any facet of your life requires research in a couple of different capacities.

First, for decision making regarding a business, look into the industry you want to have a business in. Who are your competitors? What are their offerings? What are their prices?

This research isn’t a matter of replicating any of the above-mentioned things. It’s a matter of evaluating them to see what choices there are for the consumers. 

Next, decide on an initial budget for yourself. How much money are you working with? What are your top three most pressing needs? As an example, do you need a website? If so, those costs may be graphic design, website hosting and a copy writer. The same process can apply if you are deciding on a new workout routine or to even take a trip. Your budget is critical so clarify it.

Perhaps you can invest in a mastermind or collective group to get input and decision making advice from a diverse array of people.

Most importantly, you want to develop a plan. 

Are you writing a pros and cons list? 

Ultimately, when will you stop paralysis of analysis and move forward with a decision? 

Hold yourself accountable and write these things down on a piece of paper. I’m not saying your plan or approach won’t evolve but the more honest and clear you can be with yourself, the better your decision making process will be in the present and the future.

Photo Credit

1 comment:

  1. Starting a business can be really difficult. It looks like you have a lot of determination, though!

    Good luck catching up with the challenge!

    Dianna Fielding