Effective decision-making is one of the most crucial skills for leaders. Yet, many leaders struggle with making timely and effective choices due to the overwhelming number of options and the fear of making mistakes. The Emotional Intelligence Network on LinkedIn offers ten insightful tips to help leaders sharpen their decision-making abilities. I found them to be good reminders as we enter the new year.
1. Start With Fewer Options
Leaders often face numerous choices, but too many options can create decision fatigue. By narrowing choices early, leaders can focus their attention on the most viable paths, leading to clearer and faster decisions. This selective focus enhances clarity and reduces the mental load.
2. Follow the 37% Rule
The 37% rule in decision making refers to a strategy where 37% of the time is dedicated to research before making a decision. After this period, the decision-maker commits to the next best choice they find.
3. Trust Your Instincts
Emotional intelligence plays a significant role in leadership. Leaders should recognize that gut feelings are informed by years of experience and knowledge. Trusting instincts allows leaders to make intuitive decisions that align with their goals and values.
4. Pick Speed Over Perfection
Perfection is an illusion that can stall progress. Leaders should prioritize making timely decisions rather than waiting for the elusive perfect choice. Quick, thoughtful decisions can drive momentum and adaptability in dynamic environments.
5. Treat Time Like Money
Time is a finite resource. Leaders must treat their time with the same value they assign to financial investments. Prolonged indecision wastes valuable time that could be better spent executing and refining strategies.
6. Decide, Then Refine
Taking decisive action allows leaders to maintain forward momentum. It’s more effective to make a choice and adjust along the way than to remain stagnant. This proactive approach fosters continuous improvement and resilience.
7. Build Your Decision Muscle
Like any skill, decision-making improves with practice. Regularly making decisions, big or small, strengthens confidence and hones judgment, making future decisions easier and more effective.
8. Use Action to Overcome Anxiety
Indecision often stems from fear and anxiety. However, taking action – even small steps – can alleviate this anxiety. Successful leaders understand that making decisions and adjusting as needed is better than remaining stuck in indecision.
9. Feel the Fear and Do It Anyway
Fear is a natural part of leadership. Rather than avoiding it, leaders should acknowledge their fear and move forward regardless. Courage in the face of uncertainty fosters growth and innovation.
10. Trust Yourself to Handle Whatever Happens
Confidence grows from trusting one’s ability to navigate outcomes, whether positive or negative. Leaders who trust themselves can face challenges head-on, knowing they have the resilience and adaptability to handle any situation.
Leadership requires decisiveness and adaptability. By incorporating these ten strategies from The Emotional Intelligence Network, leaders can cultivate stronger decision-making skills, drive progress, and inspire confidence within their teams.
Which of these strategies resonates most with you? Email me at mcorrado@aseonline.org.
By Mary E. Corrado, courtesy of SBAM-approved partner, ASE.
Click here for more News & Resources.