5 tips to help leaders make decisions

Everyone would prefer to carefully analyze the situation and work out different options, but sometimes time is short, and a decision must be made. Or it’s so important that it’s in itself paralyzing. Matthew Eichorst, president of the leading American travel agency Expedia CruiseShipCenters, said that he helps him in such cases.

1. Understand the facts

The better you understand what constitutes a decision, the easier it is for you to make it. Try to clarify the problem as much as possible, study and analyze the available information. Know all the facts like the back of your hand. Then it will be easier to choose the best course of action.

2. Imagine the consequences

Try to predict the course of events. Think about the consequences of your decision in the short and long term. Which stakeholder will it affect? What new programs or tools will you need to introduce? Do you have the necessary budget and infrastructure for this?

Answer these questions for each possible solution. Imagine what will happen in a day, a week, a month and a year after you accept one of them. So you look at everything from afar and appreciate the benefits of different options.

3. Look for a balance between mind and emotions

Data is good, but too much data can get in the way of decision making. We start comparing them, looking for more important ones, and get hung up on the little things. Therefore, try to rely not only on your mind, but also on your emotional intelligence. If your feelings tell you something, don't dismiss them.

4. Be open about the answer

Ask the point of view of colleagues, clients, friends. After that, create optimal conditions for the answer to come to your mind on its own.

“Whenever I have a big decision to make, I temporarily sideline the process and pursue my hobbies - exploring new territories on an off-road bike, riding a motorcycle or playing golf,” says Eichorst. "It helps clear your head and relieve stress."

Try to take some time away from your thoughts to relax and see the situation more clearly.

5. Take calculated risks

Once you've analyzed the facts and developed a plan, take action and don't look back. Accept that taking calculated risks is important. When it comes to big decisions, sometimes you have to fail in order to succeed.

“When we take risks, we learn a lot, grow and develop as a person,” says Eichorst. "The lessons learned from the risks help you become a real leader."