Taking Apt and Effective Decisions as an Entrepreneur

“Taking Apt and Effective Decision as an Entrepreneur” is a module that I have designed to grow an ability within yourself that will help you in the effective decision-making process. The Decision-making process is very crucial to any business. If you falter in this process, you may end up on a disastrous note. There are innumerous examples where people have made decisions that have back-fired them heavily and cost them a lot. For some people, incorrect decisions have also made them lose the entire business. It is very important to handle this decision-making process very carefully.

We will also discuss case-studies with the module “Taking Apt and Effective Decision as an Entrepreneur” in the context of decision-making process. Some decisions can entirely change the prospects of the business. We will illustrate on some of the decisions taken by companies that have made an impact, like automobile giant Ford wronged with a decision decades back. The decision-making that we will learn will also cover marketing and sales strategies. Every entrepreneur has to take many decisions on a day-to-day basis. These decisions will leave an impact on the outcome.

One of the illustrations that we will see in the module “Taking Apt and Effective Decision as an Entrepreneur” is about car manufacturing company Ford. Ford, the major car manufacturer, had put its best people on the project called “Edsel.” Ford also put its best foot forward with marketing strategies. After pouring millions of dollars into the car design and features, Edsel made an entry into the market. But, the car simply failed to make its mark and the highly anticipated sales didn’t happen and Mr. Ford was left staring blank.

Edsel was soon a butt-of-jokes in the market. The car was pitched against ‘General Motors’ one of the cars, but it simply couldn’t relate to the market that it was intended to be. This turned to be a major blow for the Ford. All your decisions will have an impact. Some of your decisions will have an impact in the short run; some will have in the long run. Some decisions will have a greater impact while some will have a smaller impact. But, you cannot run away from decision-making.  We will learn in the module “Taking Apt and Effective Decision as an Entrepreneur” that we should learn the art of effective decision making and also be able to gauge its consequences.

If you succeed in making correct decisions, you will be able to earn a good fortune and also learn to make effective use of time. The module is designed with examples that will intrigue you. There are varieties of decision makers. Some entrepreneurs like to take the challenges head-on and get rid of the problem. Some would want to dig into details and carefully analyze the problems and then take decisions. There are some entrepreneurs who would want to have an opinion from everyone and base their decision upon that.

Regardless of what type of decision-maker you are, you can move ahead with the art of effective decision-making. “Take Charge of Your Business and Create Your Own Destiny” program have added this module “Taking Apt and Effective Decision as an Entrepreneur” consciously to overcome the hurdles people generally face while making decisions. These hurdles are most common that we will be discussing. The module “Taking Apt and Effective Decision as an Entrepreneur” will raise your abilities to take a decision as an entrepreneur, and you will have a different approach.

I have seen entrepreneurs who take decisions in haste and then regret it. I have also seen people who take all the time in the world to make decisions. An effective decision-maker would know the correct timing to make the decision. There are times when decisions are to be taken with a consensus; there are times when decisions are to be taken without consulting all the people. So the importance of people to be taken into consideration while taking the decision is also important. You need to know who is to be consulted and more importantly who is to be not consulted.

With “Taking Apt and Effective Decision as an Entrepreneur” Module, we will discuss:-

• To be an entrepreneur who takes decisions without any influence or pressure.
• Selectively base your decisions on relevant data.
• Take Confident decisions.
• Be an entrepreneur who consults suitable people.
• Do not rest your decision on wrong people.
• An entrepreneur who can learn to ‘Ride with Tide.’
• Evaluating the consequences of the decisions as an entrepreneur.
• Consequences of both the extremes of the decisions.
• Take innovative decisions as an entrepreneur.
• Get best inputs from the team.
• Getting different perspectives while making a decision as an entrepreneur.
• Be Flexible Entrepreneur while making decisions, ability to switch to another option and dropping the current one.

The module “Taking Apt and Effective Decision as an Entrepreneur” is designed to be a learning opportunity and have been made equally interesting. It will certainly add more value to your decisions and raise the effectiveness by many degrees.