Entrepreneurs´s Journal

May 28, 2003
An Informed Decision
By Emily McHugh

I am sure I am not alone in having the occasional dilemma of having to make a hard decision. It is safe to say that the decisions oftentimes confronting entrepreneurs are rarely easy ones. What’s an entrepreneur to do? On a daily basis we are bombarded with choices that must be made and fast. Especially difficult are the choices that one cannot go back on — the "irrevocable" decision.

Always reserve the right to change your mind, even if you are not supposed to. When I was in business school, the career counselors strongly urged and advised students not to rescind on job offers they had received because it would reflect a certain level of, shall we say, flakiness. Of course, as students, we do not want to commit any career faux pas, so we just accept these decrees as infallible truths. In hindsight, this was not necessarily the best advice, why should one commit to something that will bring future misery and discontent?! It is better to change your mind, than to regret a choice for ever.

Not too long ago, I found myself in a decision-making jam. I had just submitted my first government bid and realized I needed to adjust my quote. After a few hours of tormenting myself about what to do, it dawned on me as to what was the true issue. I was afraid to face what I really wanted; not just the idea of having to contact the contract specialist. Once I did, I realized that it was not so hard after all, and if you are honest and upfront everything works out fine despite initial fears. (Take away: read and understand your government contract THOROUGHLY before signing and never rush; also get help from your local Procurement Technical Assistance Center to help complete the bid).

In order to avoid decision meltdown, various mental rules of thumb should be in place to serve as a guide or at least a benchmark to help in the decision process. We may not always have the benefit of knowing all the vital information beforehand in order to make an informed decision, but instead of capitulating to decision-making defeat, make sure you have at least tried to get the information necessary. Ask the questions and get as many answers upfront as possible. Think about all the things you would ideally like to know to make the best possible decision. List what you do know and then what you do not. If you do not have enough information to be comfortable with your decision, then wait until you do. Yes, you ultimately will have to decide on something, but you will be more confident with your choice with better preparation.

The other brain-wracking part of making a decision is the sheer loneliness the entrepreneur often feels in the process. Our instinct tells us to find someone who in essence can make the decision for us or at least talk us into a decision, anything but to decide alone. Resist this urge. Before reaching out for everybody else’s opinion, take the time to determine your own. The first question to answer is "what do I really want?" Once you know the answer to this, then you can figure out the rest. Most of the time we automatically and erroneously assume that our ideal is not possible, so we do not even bother to ask, or inquire. This is indeed a pity, because as the saying goes, you don’t get what you deserve, but what you negotiate, or ask for. Since there are not too many silver platters being passed around the party of life, we have to be more assertive than we often realize. Remember, it is not a crime to ask for what you want. Ask and ye shall receive…. Divine inspiration is a definite prerequisite to inform a sound decision, so don’t forget to pray.

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