Published on August 1st, 2013 | by Jose Vasquez3
How to Make Big Decisions in Startup Tech Companies
The more experienced you become as an entrepreneur, the more massive decisions you’ll need to make, and the more prepared you’ll need to be to make them.
Making decisions is part of being an entrepreneur, but when it comes time to make big choices that will affect the longevity or future of your startup tech company, many entrepreneurs find themselves struggling. It’s a natural reaction; when you’re about to make an impactful decision, your worries, doubts, and concerns will prevent you from making an immediate call. While this can prevent you from making a reckless decision, it also hinders the speed that you can progress as an organization.
Jeff Haden, an entrepreneur and highly successful ghostwriter, outlines a five-step model of decision making that he believes can help entrepreneurs come to a firmer, more confident ultimate decision in those scenarios. I’ve taken those five steps and condensed them into three, taking the fundamentals of Haden’s advice in a direction more relevant for startup tech companies.
- Find Your Options. Haden calls it your “crazy idea,” or something you believe in late at night that you would never logically consider in the morning. Find out what you truly want for your company, even if it doesn’t make immediate sense, and put that idea under scrutiny.
- Research. That means looking at the data available, not just listening to other people’s opinions. Measure the results of similar decisions from other companies, look at the market numbers, and evaluate all that data until you form a solid, logical conclusion.
- Weigh Your Beliefs. How strongly do you believe in your idea? Is it enough to outweigh the statistics (if they’re working against you)? Countless entrepreneurs have struck it big or completely failed because they chose to play against the odds. Your beliefs need to guide you in whether you take the plunge.
Ultimately, your decision has to be what you believe in, regardless of how many people you talk to or how much research you do. Make your decision with conviction, and no matter what you ultimately decide, make sure to commit yourself to it completely.
Read Jeff Haden’s original story here