The Cost of Indecision

Howdy! In today’s article, I want to talk about why action is always better than stagnation. When you are an entrepreneur or a corporate innovator, indecision is a luxury you cannot afford.

Indecisiveness will absolutely put you out of business. The best thing you can do is make any decision. Sure, that sounds risky because not all decisions pan out, but sometimes, the wrong choices teach you a valuable lesson. Indecision, however, leads to stagnation and missed opportunities and wasted resources.

I believe that standing still is just as bad as moving backwards in this fast-paced environment. Making decisions allows you to test, adapt and keep progressing, even if that means a few failures. Never be afraid to fail.

Here’s a few tips I’ve picked up over the years for overcoming indecision:

1. Set deadlines for yourself: Creating a realistic deadline for any decision helps me gather information quicker, weigh options with my business partner and move forward without hesitation.

2. Gather all the data: We make decisions based on metrics, analytics or performance indicators. Never make decisions based on what your competitors are doing.

3. Trust your team: Having a co-founder and a fantastic team ensures I don’t have to make every decision alone. Consulting with my team allows me to get multiple perspectives and clarity moving forward.

What’s more terrifying: the fear of making mistakes? Or the fear of inaction and falling behind? Choose decisively, make mistakes small, learn quickly and move forward with confidence.

Important Question to Ask Yourself This Week:

Think of a recent decision you made, big or small. What did you learn from the process or outcome that can guide you in future decisions?