With 2015 kicked off, let’s find an extra 1% to make this year even better.
Set aside a quiet two minutes to strategically ask yourself the following questions, considering how your decisions positively or negatively affect your board, employees, and customers.
What’s your success and failure rate on the decisions you’ve made in the past? What can you and your team learn from the results of those decisions, and what adjustments can be made to handle those situations better when they come up again?
Do your decisions from the top trickle down and positively affect your company and its performance? Do your board of directors and fellow C-level employees trust your decisions and empower you to make them on the company’s behalf?
To make the most effective decisions, you need a team that supports you and access to the data that will give you a clear picture of your company and its performance, including its risk management strategy.
Consider the level of risk you are willing to take and whether that lines up with others’ ideas of risk tolerance at your company. Is there alignment? Do you have all the financial performance data you need to see where the company stands against its goals and objectives?
Don’t rush your decision if you don’t have to. You want to plan ahead, thinking of potential problems from all angles, and determining what should be done to correct or adjust each situation. (Your crisis management team may want to be in on this conversation.)
Avoid having to make a decision too quickly with not enough information if something has to be decided hastily. Don’t wait until a major event occurs to decide where you stand on critical enterprise issues.
Let me know if you want to talk more about the value I saw the leaders I help receive or any other questions.
Or, if you know a CEO who is lonely at the top and would like to have coffee and ask what we are telling CEOs in the Goldman Sachs 10000 small business program, have them call.
You can also contact me today at Gary@FiscalDoctor.com to talk about your special situation or project that needs immediate attention. On that note, I look forward to serving you.
Key member of 2 successful Inc. 500 international companies ready to help you next.
Author of Million Dollar Blind Spots: 20/20 Vision for Financial Growth and Stick Out Your Balance Sheet and Cough: Best Practices for Long-Term Business Health