Slow growth occurs when decision debt accumulates, making further decision impossible because of all the moving parts. Here’s how a community of like-minded entrepreneurs may be the solution.
“It is in your moments of decision that your destiny is shaped.” – Tony Robbins
As a business leader, you don’t want to make the wrong decision. But it making no decision can be an even bigger momentum killer.
Much like financial debt, decision debt can crush your business. With every decision you don’t make, you introduce another moving part into the machinery that is your business. This compounds very quickly, making it tougher to make even simple decisions because you now have even more unknowns.
One of the quickest ways to end-run tough decisions is to ask someone else. Someone who has a different frame of reference, different experience and maybe even someone who’s already solved this problem. For some entrepreneurs, the biggest reason to be in a community is to get and give help just like this.
Business decisions create motion. Without them, your business stagnates. Procrastination only takes us further down the spiral. This leads to decision debt: the accumulation of any decisions that need to be made. When too much decision debt is accumulated, business growth slows and stops.
You’re an e-commerce business owner, expanding your business’s product line. You have several crucial decisions to make before you can launch the new product, including supplier, packaging, pricing, and a go-to-market strategy. When you can’t decide on which packaging is best, the entire launch strategy is pushed back until you’ve reached a decision. This affects the launch date, your team’s efficiency, and your bottom line.
Learning how to make quicker decisions pushes your projects forward for a more productive, leaner business.
But be wary: Although making quick decisions is important, simply guessing with confidence doesn’t mean your decisions will pay off. The key is to make quick decisions that are well-thought-out, giving your team confidence to move forward with your direction.
Leveraging community is the best way to clear decisions debt, cure analysis paralysis, and get the best information to make good decisions.
When you’re building a business, don’t reinvent the wheel by making decisions in a silo. Instead, call on those who have been in your situation to help with key decisions. At MAC6, for instance, our community allows you to connect with other business owners and share both positive and negative experiences.
The right community can support you with at every stage of your business growth, providing the right space, training, and resources you need to keep your business productive and free from decision debt.
Pay off Your Decision Debt
Making the wrong decision is almost as bad as making no decision. The best way to break out of this rut is by joining a community of people who are like-minded, with varying kinds of experience and who are willing to be involved. Find that community and build those relationships and you’ll never lack good advice, tips or a new point of view when you’re just too close to the problem.
If you think you’d like to move into a community that provides structured help for entrepreneurs as well as unstructured networking, get in touch. Sometimes that can be the only thing between you and your future growth. Learn more about the MAC6 community and how making decisions with community support can leverage business growth.