.I have personally fought the deep fear that I was going to make a wrong decision. I have lived with “analysis paralysis” and turning the same question over and over in my head while trying to figure out every possible outcome. It was exhausting and my business was also stuck. I finally realized that not making a decision IS a decision. I was choosing to keep spinning my wheels.
What If You Couldn’t Make A Wrong Decision
Perhaps you have a decision to make that you just can’t. And it is keeping you stuck. Perhaps you have been holding off finding a VA or new software or marketing support. Maybe it’s a financial decision. Maybe it’s the decision to enter a new market or offer a new service. I want to give you a quick and easy process you can use to help you make the decision. What if you couldn’t make a wrong decision?
The Cost-Benefit analysis for this is a simple tool. It shows you if the benefit of something in your business will outweigh the actual cost of having it. I am a HUGE proponent of the cost/benefit analysis. But the cost/ benefit is a tool that shouldn’t keep you up at night. I made the biggest mistake with this process by not committing to implementing the best course of action that the tool revealed.
I feared that even if I picked the “best” one, it may be wrong for the business. But what if I couldn’t choose “wrong?” What if you couldn’t? Your mindset has to be that you will go with the decision. The decision based on the knowledge that you have when you use the tool.
The easiest way to work a cost/ benefit tool is to sit down and handwrite all of the costs and benefits of the decision you are trying to make. And you use this tool for each decision point. You can handwrite it on a piece of paper, or use a computer program. I am personally a pen and paper and coffee and relaxed environment kind of girl, but you do whatever will allow you to think clearly.
Be specific. For example, a Virtual Assistant will save you time that can be better available for money-making activities. Email Automation can make sure nobody who opts in for your newsletter falls through the cracks. And continue to list the benefits that you will personally receive in your business. Then look at all the costs, financially or otherwise, of implementing the thing.
Many times, when you write it all out, an investment is a “no brainer” and your business will benefit so much you need to add whatever it is, now. On the flip side, if you are wondering whether to keep something in your business, you can use the same approach. If the benefits (be honest) are not enough to justify the cost, you don’t keep it.
Author’s Note:
But here is the key, you cannot get it wrong. When you use this tool with the best information you have, your decision is the best you can make at the time. Period. Not making any decision and spinning your wheels is a decision and one that isn’t moving you forward. Try this tool the next time you have a business decision to make and commit to implementing what comes out on the paper. You will be amazed at how much stress is gone because a decision is made, a course of action is taken, and you can now focus on the next thing. On one last note, rarely is any decision permanent, so move confidently on the best one that reveals itself to you the next time you feel stuck.