The Covid pandemic may have taught you how quickly things can change. One week we’re thinking that the pandemic is under control. The next we’re seeing the variant and how dangerous it is. Acting quickly can make the difference between long term success or failure. Here’s how you can learn to make good, fast decisions for sales.
Recognize who you are.
You may be the type who methodically gathers information. There’s nothing wrong with being process-focused as you gather information to make decisions. The problem is that some people can never get enough information thinking that an enormous quantity of data is what they need to decide.
You have to change your mindset if you are this type of person.
There are certain careers which train you so you can break this habit of slow decision making. Think about people in the military or health care. Their jobs require them to make good, fast decisions. What allows military and healthcare professionals to decide faster is that they get practice making lots of decisions. Their experience shows them what works for a quick decision and what doesn’t.
Outside of these professions, changing your decision making requires practice.
Get practice now making faster decisions.
People who make good, fast decisions don’t bog themselves in voluminous data. They learn to gather just enough data that allows them to make a good enough decision. Here’s how to recognize when you have enough information. You need 80% of the information you think you need to make a decision. Write down 10 pieces of data you need. When you have 8 you are ready to decide.
It’s far quicker to make a decision when you recognize that you don’t have to gather so much information. In time, you might find that you can decrease your information requirement to 70% or lower. Practice your decision making to give yourself confidence.
Look to trusted others to decide.
Think about yourself learning to ride a bike. You might have started on training wheels only to abandon them when you felt like you didn’t need them. A group of trusted advisors who you can quickly bounce your ideas off of is like having training wheels for your decision making.
Determine now who you can talk with. I have found that a group of people with varied experiences make better decisions. I’ve often said it’s great to learn from your mistakes, but it’s better to learn from other people’s mistakes. You will get that advantage when you seek the counsel of people you trust who have varied experiences. Don’t wait until you need to make some quick decisions to gather your group of advisors. Start now to consider who you can ask.
Look out for trouble.
It’s far easier and faster to solve a problem when it’s small. People who make quick decisions spot situations that could grow to a bigger, tougher and slower to solve problem. Here are problems that I think warrant immediate attention: Changes in key personnel at a customer; New competitor in the market; Customer sale or merger. These situations are all changes that warrant your immediate attention to avoid a bigger and slower to solve problem.
You will always have decisions to make in sales. Think of the time you save when you make good, fast decisions in sales. Why don’t you enjoy yourself with the extra time you’re created?