“Decision-Making Mastery”.
How to improve your business decision-making!
The purpose of this session is to introduce the concept of conscious decision-making and show you its role in the five-step profit formula. Did you know that we average between 2000 and 10,000 decisions every day? Everything from when and how to cross the road, to major decisions like choosing a new supplier or making a major purchase. Yet very few people ever think about how they make decisions, and whether they could make better ones. This session is all about helping you improve your decision-making skills.
Here’s what we’re going to cover in this session:-
(Each video is approximately 22 minutes long).
Video One. The Fundamentals of Decision-Making and why it really matters.
- What is decision-making?
- Why decision-making is important in business?
- Decision-making in other areas?
- An introduction to a basic decision-making process.
Video Two.
- Improving your decision-making ability.
- Decision framing (understanding why framing is vital for good decisions).
- Intelligence gathering (Including looking at cognitive biases which impact your ability to gather good information).
- How to gather intelligence well.
Video Three.
- Coming to conclusions (Deciding).
- Making decisions intuitively.
- Simple screening and rules of thumb decision-making processes.
- Making systematic decisions (Subjective and Objective Linear models).
- Group decision-making processes.
- Learning from experience.
Decision-making resources available to use with this session.
Frame Analysis Worksheet.
Use this to establish the frame you are using now or one you wish to use when you’re starting a new decision requiring some serious thinking.
Frame Discovery Worksheet.
Use this to establish the frame you are using now or one you wish to use when you’re starting a new decision requiring some serious thinking.
Audit Your Decision Making Process.
We’ve developed this short quiz to help you assess your current decision-making skills. We’ll examine how well you structure your decision-making process, and then we’ll point you to specific tools and resources you can use to develop and improve this important competency. There are 18 questions to answer and it should take you about 5 minutes to do. Once completed you’ll receive a PDF with your score and advice on how to improve.
Business Book Summary (Decision Traps).
It is increasingly difficult for today’s successful business owners to dedicate hours every day to read the business books they need to digest, to keep moving forward. This is why we’ve started our “Done for you” business book review reading service, where we distill the essence of a business classic into a short readable chunk that you can read in about 20 minutes.
The book we’ve selected to go along with this Session is- Russo and Schoemaker ‘Decision Traps. (the ten barriers to brilliant decision-making and how to overcome them). Buy on Amazon.
Click the image to read the book summary.
Breakeven Analysis.
A break-even analysis is a financial calculation that weighs the costs of a new business, service or product against the unit sell price to determine the point at which you will break even. In other words, it reveals the point at which you will have sold enough units to cover all of your costs. It is used a lot in decision-making. Click the image to access the spreadsheet.
Twelve intensive half-day meetings.
