Ken Uchikura Newsletter Vol. 205 Decision-Making
Nov
2
Decision-Making
I believe the most important criterion to determine a person’s ability to make it as a business owner is his/her ability to make decisions. Running a company requires you to make decisions. And there are very few situations in which you have a full understanding of everything involved before having to decide. Instead, you must decide without much information. Failure to do so will not only result in lost business opportunities, but also significant losses for your company. And I believe the better your decision, the better business owner you are.
But not every decision will produce the right result. It’s quite possible that the other option that you didn’t choose could have resulted in better results. In short, business owners need to choose the best path, based on the information they receive at the time and their experience. There’s also the choice of not deciding because you don’t know what to do. And not making a decision is also a decision in itself.
Let’s consider for a moment what happens if you don’t decide. First off, if you don’t make a decision, you have a problem as a business owner. You’ll lose credibility and trust, both externally and internally, by not making a decision. That is a big problem. As a business owner, it’s also important not to leave decision-making to another person. No matter who makes the decision, the business owner is ultimately responsible.
There are some decisions that can be considered at length with sufficient preparation time, but there are also many cases where an immediate decision is necessary. In such cases, there is usually not enough information available. The only thing we can rely on is past cases and experience. Needless to say, the longer a company has been in business, the more experience the business owner has. I believe that this is a sign of trust in the company. There are times when difficult decisions must be made, but if decisions are made responsibly, I believe that I have fulfilled my responsibility as a business owner regardless of the outcome.
Kenichi Uchikura
President / CEO
Pacific Software Publishing, Inc.
ken.uchikura＠pspinc.com
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