530: Complex Decision Making
The How of Business - How to start, run, grow and exit a small business.
Henry Lopez, Levante Business Group
4.7 • 522 Ratings
🗓️ 22 July 2024
⏱️ 56 minutes
🧾️ Download transcript
Summary
How to make Complex Decisions in your small business.
Show Notes Page: https://www.thehowofbusiness.com/530-complex-decision-making/
Learn more about Complex Decision Making with co-hosts Henry Lopez and David Begin.
How do you make those critical or complex decisions that significantly impact the success of your business and your life?
Henry and David dive deeper into the topic of Complex Decision Making. They explored everyday Decision Making on episode 526, and on this episode, they share their techniques and recommended method for complex decision making.
Small Business Owners must make decisions. Big decisions, small choices; all day, every day! While you can and should delegate most of the day-to-day decisions, as the CEO of your business you remain responsible for the big complex decisions that must be made. And often, there may not be an obvious or "right" answer.
Making big decisions can be daunting for small business owners, but following a structured approach can help ensure the best possible outcomes for the bigger decisions. And then over time, you develop the habit and ability to make big decisions more effectively.
The 4-step decision making structure we propose includes the Decision Matrix Analysis (also known as the Weighted Decision Matrix or Multi-Criteria Decision Analysis). This tool helps you systematically evaluate and compare different options based on a set of defined criteria, allowing for a more structured and objective decision-making process.
This episode is hosted by Henry Lopez. The How of Business podcast focuses on helping you start, run and grow your small business. The How of Business is a top-rated podcast for small business and entrepreneurs. Find the best podcast, small business coaching, resources and trusted service partners for small business owners and entrepreneurs at our website https://TheHowOfBusiness.com
Transcript
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| 0:00.0 | Welcome to the how of business with your host, Henry Lopez, the podcast that helps you start, run and grow your small business. |
| 0:13.4 | And now here is your host. |
| 0:16.0 | Welcome to this episode of the how a business. |
| 0:18.2 | This is Henry Lopez and my co-host, David Begin, is back for another |
| 0:22.7 | episode. Hello, Henry. How are you? I'm doing well. I thought I lost you there for a moment. |
| 0:28.1 | I know. Well, I'm fighting a cold. Sorry. David is battling, not feeling well, but he's going to fight on |
| 0:33.8 | through here and give us his opinions because he's got a lot to share on this important |
| 0:38.4 | topic, which is complex decision making. Back on episode 526, David and I chatted about |
| 0:46.1 | everyday decision making, just the topic in general. But the decisions that we make quickly, |
| 0:52.7 | somebody comes up to us, says, hey, what about this or that, or those kind of day-to-day operational decisions, they're slightly different |
| 1:00.4 | when we're talking about complex decisions, decisions that we don't necessarily make right in |
| 1:06.3 | the instance, or we probably should not. |
| 1:08.7 | And so what is that process? |
| 1:10.1 | How do we go about it? |
| 1:11.5 | What is a recommended approach that we've learned from others and based on my research? |
| 1:17.2 | How do we make those more complicated decisions? |
| 1:21.1 | And that's what we're going to dive deeper into this episode. |
| 1:25.6 | If you didn't listen to Episode 526, it doesn't matter for this |
| 1:29.1 | episode, but you may want to go back and listen to that episode as well. So how do we make those |
| 1:34.4 | critical or complex decisions that can significantly impact the success of your business and |
| 1:40.9 | maybe even your life? To get more about the more information, rather, about the Howa Business, including the show |
| 1:47.7 | notes page for this episode. |
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