There is a consensus view that the current economic environment is one which is filled with uncertainty. Customers aren’t spending, banks aren’t lending and businesses are finding things much tougher.
On our view of what is happening, much of this is true (especially with the banks). We do find however that a lot of the issues within business comes from the fact that the times are uncertain. The uncertainty they are seeing/feeling is creating uncertainty in their minds.
The problem with this is that is leading to indecisiveness. People just aren’t making decisions or they are putting off making decisions so much that someone else ends up making the decision for them.
So we have the situation where the perception is creating the reality and the “cautious” approach being adopted by a lot of businesses is perpetuating itself. It then enables a vicious circle to exist where business owners and managers effectively become stuck – like a rabbit in the headlights. They do not have the confidence to make decisions which means that they don’t. This lack of decision making confidence is something that needs to be addressed.
Having worked with a number of businesses over the past couple of years, we have seen the impact of the differing approaches. Those businesses that adopt the “stuff it, we’ll make a decision” approach have been doing very well. Those that have a deep-set fear about the current environment don’t. It is the ones who don’t that we see as falling behind (sometimes badly).
The lack of decision making in a business leads to a situation where the “bad” results actually occur which then verifies the behaviour that created the indecision in the first place. This sounds stupid doesn’t it?
To take advantage of the economic environment that we have at the moment, try adopting a more positive, assertive and optimistic view. This will help you make decisions. The results of those decisions will see you move in a more emphatic way and this will seep through your whole organisation.
You need to remember that a lot of your competitors are in the fear mode of thinking where they will be scared of making a decision. This creates a significant competitive advantage for you and your business. This will create improved results and deliver the affirmation that will help you make more decisions.
As always, it is up to you – your attitude will determine your altitude – by taking a more positive and optimistic view on things and actually making (and implementing) decisions, you will be so much better placed to set yourself apart from your competitors.
It is not a matter of luck. Defy the doomsayers. Believe in yourself. Act.