Published on January 29th, 2019 | by Jose Vasquez0
6 Tips for Making Fast Decisions in Startup Tech Companies
Use these strategies to make better quick decisions in your startup.
As a startup tech entrepreneur, you’ll frequently find yourself in need of making fast decisions. You may need to respond to emergencies, address immediate questions from clients and investors, or react quickly to ensure you meet a deadline. Making decisions quickly means you won’t have time for a lengthy analysis, or even a decent amount of research. So what steps can you take to make better decisions under this type of pressure?
- Stay calm. One of the best skills you can learn is staying calm under pressure. If you let your stress or your emotions take over, all your decisions—even your reactive ones—will suffer from it. Learn deep breathing and meditation exercises to stay in the present moment.
- Rely on experts. You don’t have to make every decision alone. Surround yourself with experts you trust so you can get fast second opinions on controversial or high-pressure situations. You don’t need to follow their advice at all times, but it’s always helpful to get a different perspective.
- Don’t be afraid to let your team leads make their own decisions, especially if they’re closer to the situation than you are. Give your team autonomy so they can make their own calls (and take some pressure off yourself).
- Be decisive. Sometimes, the worst thing you can do is remain indecisive. Even a bad decision can keep your business moving forward, so don’t spend too much time hesitating—make the call, and get ready to deal with the circumstances.
- Buy time. When possible, try to buy yourself additional time. Calling for a break or asking a client for an extra day may be the edge you need to make a better decision.
- Prepare for possible consequences. Think about the worst-case scenario resulting from your decision, and make a quick action plan on what you could do in that situation. It will reduce your stress and give you additional action items so you’re better prepared for whatever happens next.
If you find yourself overwhelmed as an entrepreneur, know you’re not alone. I’ve helped dozens of entrepreneurs refine their approach to managing startups, and I can do the same for you. Contact me today for a free consultation!