How to Make the Right Decisions

Just as people are different, so are their styles of decision making. Each person is a result of all of the decisions made in their life to date. Recognizing this, here are some tips to enhance your decision making batting average.

·       Do not make decisions that are not yours to make.

·       When making a decision you are simply choosing from among alternatives. You are not making a choice between right and wrong.

·       Avoid snap decisions. Move fast on the reversible ones and slowly on the non-reversible.

·       Choosing the right alternative at the wrong time is not any better than the wrong alternative at the right time, so make the decision while you still have time.

·       Do your decision making on paper. Make notes and keep your ideas visible so you can consider all the relevant information in making this decision. Be sure to choose based on what is right, not who is right.

·       Write down the pros and cons of a line of action. It clarifies your thinking and makes for a better decision.

·       Make decisions as you go along. Do not let them accumulate. A backlog of many little decisions could be harder to deal with than one big and complex decision.

·       Consider those affected by your decision. Whenever feasible, get them involved to increase their commitment.

·       Recognize that you cannot know with 100% certainty that your decision is correct because the actions to implement it are to take place in the future. So make it and don't worry about it.

·       Use the O. A. R. approach in decision making. Look at O, Objectives you are seeking to attain, A, the Alternatives you sense are available to you and R, the risk of the alternative you are considering.

·       It has been said that a decision should always be made at the lowest possible level and as close to the scene of action as possible. However, a decision should always be made at a level insuring that all activities and objectives affected are fully considered. The first rule tells us how far down a decision should be made. The second how far down it can be made.

·       Remember that not making a decision is a decision not to take action.

·       To be effective a manager must have the luxury of having the right to be wrong.

·       Trust yourself to make a decision and then to be able to field the consequences appropriately.

·       Don't waste your time making decisions that do not have to be made.

·       Determine alternative courses of action before gathering data.

·       Before implementing what appears to be the best choice, assess the risk by asking "What can I think of that might go wrong with this alternative?"

·       Many decisions you make are unimportant-about 80% of them. Establish operating limits and let your secretary or others make them for you.

·       Consider making the decision yourself in lieu of a group, but recognize the potential for less commitment by those affected.

·       As part of your decision making process, always consider how the decision is to be implemented.

·       As soon as you are aware that a decision will have to be made on a specific situation, review the facts at hand then set it aside. Let this incubate in your subconscious mind until it is time to finally make the decision.

·       Once the decision has been made, don't look back. Be aware of how it is currently affecting you and focus on your next move. Never regret a decision. It was the right thing to do at the time. Now focus on what is right at this time.

·       Mentally rehearse implementation of your choice and reflect in your imagination what outcomes will result.

·       Brainstorming alternative solutions with your staff or others will gain fresh ideas and commitment.

·       Discontinue prolonged deliberation about your decision. Make it and carry it through.

·       Once you have made the decision and have started what you are going to do, put the "what if's" aside and do it with commitment.

Once you have decided what Kind of Company you want to start and The investment requirements, you are prepared to select a
location. The number of aggressive businesses already in the area should affect your choice of location. Many regions are
overloaded with service channels or certain forms of restaurants. Check on the number of your kind of business in Census figures,
the yellow pages, or by checking out the place.

Factors other than the Possible market, availability of employees And number of aggressive businesses must be considered in
selecting a place. For example, how adequate are utilities - sewer, water, power, gas? Parking facilities? Police and fire
protection? What about home and environmental things like colleges, cultural and community actions for employees? What's the
normal price of the location in taxes and rents? Check on zoning regulations. Evaluate the business of the local business-people,
the aggressiveness of civic organizations. In short, what is the town soul? Such aspects should provide you an idea into the city
or city's future.

Chambers of Commerce and nearby universities usually have created or Are familiar with local polls which may provide answers to
those questions and the a number of other questions that will happen to you.

Next you have to decide in what part of city to find. If the city is Very little and you're establishing service or retail
business, there will most likely be little choice. Just 1 shopping place exists. Cities have outlying shopping facilities along
with the central shopping area, and stores spring up along principal thoroughfares and neighborhood streets.

Think about the shopping center. It is different from other locations. The shopping center building is pre-planned as a
merchandising unit. The site has been intentionally selected by a programmer. On-site parking is a frequent feature. Customers may
drive , park and do their shopping in comparative safety and speed. Some centers offer weather protection. Such amenities make the
shopping centre a valuable location.

There are also some limitations you should know about. As a tenant, You become a part of a retailer group and must cover your pro
rata share of the budget. You have to keep store hours, light your windows, and place your signals based on established rules.
Many communities have restrictions on signs and the middle management might have further limitations. Moreover, if you're
considering a shopping center for your first store you may have an additional problem. Developers and owners of shopping centers
look for successful retailers.

The type and Wide Range of merchandise you carry helps determine the Type of shopping area you select. By way of example, clothing
stores, jewelry shops and department stores are more likely to be prosperous in shopping districts. On the flip side, grocery
stores, drug stores, filling stations, and bakeries do better on main thoroughfares and local streets beyond the shopping
districts. Some kinds of shops customarily pay a very low rent per square foot, while others cover a high rent. At the"low"
category are furniture, grocery stores and hardware stores. In the"large" are cigar, medication, women's furnishings, and
department stores. There's not any hard and fast rule, however it's helpful to observe in what type of place a store like yours
most often seems to flourish.

After determining an area best suited to your type of business, Obtain as many facts as possible about it. Check the competition.
How many similar companies are located nearby? What does their sales volume appear to be? If you're establishing a store or
service trade, how far do people come to trade in the region? Are the traffic patterns positive? If the majority of your customers
will be local inhabitants, study the population trends of the area. Is population climbing, static or decreasing? Are the people
native-born, blended or chiefly foreign? Are fresh cultural groups coming in? Are they predominantly laborers, clerks, executives
or retired persons? Are they all ages or principally retired, middle aged, or young? Judge buying power by checking average house
rental, average property taxation, number of telephones, number of automobiles and, if the amount can be obtained, per capita
income. Larger shopping facilities have this type of information out there, and will make it available to serious potential
tenants.

Zoning ordinances, parking availability, transportation facilities And natural obstacles - such as bridges and hills - are
important factors in finding any kinds of company. Possible sources for this info are Chambers of Commerce, trade associations,
real estate businesses, local newspapers, banks, city officials, local retailers and private monitoring. In the event the Bureau
of the Census has developed census tract data to the particular region in which you are interested you'll find this especially
helpful. A census tract is a small, permanently established, geographical place within a big city and its environs. The Census
Bureau provides population and housing characteristics for every tumor. This information could be valuable in measuring your
marketplace or service potential.

Deciding upon the actual site within an area might well be taking what you May get. Very few plants or buildings will be suitable
and in precisely the same time, available. Should you have an option, be sure to consider the possibilities carefully.

For a production plant, think about the condition and suitability Of the construction, transport, parking facilities, and also the
sort of lease. For A store or service establishment, check on the closest competition, traffic Flow, parking facilities, road
location, physical aspects of the construction, Kind of lease and price, and the speed, cost and quality of transport.
Additionally Look into the history of the site. Find answers to such queries as: Has the Building remained empty for any length of
time? Why? Have various types of Stores occupied it for short periods? It may have proved unprofitable for them. Websites where
many businesses have failed ought to be avoided. Vacant buildings Do not attract traffic and are usually considered poor
neighbors, so check on nearby unoccupied buildings.

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