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How to make the best decisions in business?

Making business decisions brings more than one head. Many times we are afraid to make mistakes, since the consequences can be terribly negative. However, all those who understand business know that to achieve great results you must also take risks.

Which product will be more successful? Am I interested in exploring this market? Should I invest in an online store? In this post we want some tips so that you can make good decisions, not guided simply by speculation.

How to make decisions in your company

The decision-making process is carried out in many different ways, depending on the size of the organization, the organization chart. Decisions are always aligned with some objectives.

Depending on which are objectives, the responsible managers will establish strategies and implement techniques based on their knowledge, experience and tools.

However, in any case we must take into account a number of points that can not be forgotten.

 Take risks

There are entrepreneurs who have problems to take risks. Not because they rationally have reasons to avoid them, but because they have not really analyzed in depth the pros and cons and have difficulty in taking risks.

This difficulty prevents the company from growing, since it keeps developing the same techniques over and over again, without trying new tools or working methods that can multiply the results.

 Always have a plan B

As dangerous as being afraid to take risks with your business, it is not having a plan B. We can not completely dominate the future. We can learn from our mistakes, but failures can not be completely avoided. Therefore, always open the door to a possible withdrawal.

When you have a plan B, you can minimize the losses of a business that did not really work. In addition, you learn to modify your strategy to achieve the fulfillment of your objectives.

Analyze the data

A lot of the problems of the companies come from a poor analysis of the data. The times in which microenterprises and small and medium-sized companies used simple office automation programs to analyze their data are long gone. Today many already use professional management programs that allow them to collect, cross and analyze data to make better decisions.

When was the last time you made an important decision, without first making a serious analysis of the data? Are you aware of how your company's sales are going each month and how are the marketing and sales actions you perform influencing them? Do you know the sales you are losing by not having an effective tool like an online CRM to better manage your relationships with your customers?

It constantly optimizes

Optimization is the key, both in offline business and online business. What is not working? Why, according to your ERP reports, has there been a drop in sales during the last months? Are you taking good store management so you do not run out of stock of important products?

No business will turn out well the first time. You have to sit down and analyze all the mistakes that are being made. Observe, correct and optimize until what was once a weakness of your business, now becomes a strength.

In order to optimize your business, especially in regards to the purchase of merchandise, it is essential to keep good control of the inputs and outputs. Are you clear about the concepts of minimum stock and maximum stock?

Do not persist in error

Some entrepreneurs seem not to realize when they are making a mistake. Many times, due to lack of time or because they do not have an ERP of effective management to analyze the data, they end up repeating again and again the same actions that lead them to lose sales and customers. At other times, you can have a fixation with certain work routines that are not productive.

If you want to make good business decisions, you have to learn not to persist in error. Do not fear the changes. When we make changes in our business, we see differences in the results. The differences can be good or bad, but we are getting valuable information that will help us make success decisions later.

Being the boss is the hardest, there are good and bad times Always Good decisions are made with a cold head