One of the most important qualities of successful entrepreneurs and millionaires is the ability to be decisive while being goal directed.
Decisiveness is the willingness to make decisions, even in the face of complexity or uncertainty. Decisive people evaluate available information, apply their judgement, and make a choice amongst the various possibilities it is easier to be decisive when we are clear about our values and goals.
Successful entrepreneurs have a tolerance of risk, ambiguity and uncertainty. The calculated risk takers would prefer to minimise and share the risk. Managers need to deal with paradox and contradiction and they know that any decision runs the risk of be wrong, but they also know that perfect clarity is rarely available and that indecision can be more costly. It also means taking responsibility for the outcome of the decision.
Sometimes a situation occurs where no action is taken but in those cases the specific do-nothing decision is taken. Think carefully, and then make decisions quickly, but you must also know when to say “we’ll see” and do nothing for the time being.
You must develop the habit of making quick decisions but make sure that the decision outcomes are accurately monitored and that quick feedback is received so that if you find you have made a mistake, you can quickly self-correct and do something else.
Successful people are creative and goal directed. They try for more things than other people do, which means that the probability of eventually finding the right way of doing things, at the right time, is much higher than it is for people that try only one or two things.
Indecisive people get carried through life like Oak leaves in the wind, never establishing a fixed direction, and never being directed towards a goal.
To be directed towards the goal you need to know the detail of what you’re going to do. I have asked people what they are going to do and they tell me; I’m starting an Internet business, I am going to work from home, and I am going to make money.
But if I ask them any details such as, “What are you going to do to make money?” they cannot give me an answer. When you adopt the habit of being decisive and goal directed your entire life becomes more productive and you move faster in your chosen direction and the people around you. This releases a higher source of energy that produces enthusiasm and increases your motivation that pushes you much faster towards your goal.
If you can clearly visualise your goals in your mind decision-making becomes a lot easier. If you are goal directed and your decisions made within the framework of desired outcomes, it allows you to be optimally creative and innovative in making the right choices to overcome the problems that arise. The actions that need to be taken are then more easily identified.
The action that you can take now to develop the habit of being decisive and goal directed is to clarify your goal and then ask yourself what single action, if done correctly and timelessly, will have the greatest impact on your goal.
In these exercises you should be as honest with yourself as possible. Be ruthlessly honest. Be obsessed with wanting to exploit opportunities that can result in you being a millionaire. Be goal and results orientated. Make sure your goals are set high but higher at realistic and develop the burning drive for achievement and growth.
Developing this habit will take you a long way to developing the skills required to be a successful entrepreneur, especially when combined with the other skills as covered in the 23 articles series on the Habits of Successful Entrepreneurs and Millionaires.