How Franchisees Can Make Game-Changing Business Decisions Without Fear

Most decisions are not life and death, but they can have a profound affect on your business

SPONSOREDUpdated 5:17PM • 05/11/16

Having a method for making challenging decisions is the hallmark trait of any good franchisee and leader. When you first launch your franchise, pretty much every decision feels like the weight of the world is on your shoulders, and success or failure centers on which direction you choose.

But, as your business grows, hopefully the decisions you made early on have put you into a better place where those decisions now carry more weight—what’s the right product mix, how can I drive more store traffic, and how can I attract better talent?

By implementing smart decision-making processes, you have the ability to grow your business from just an idea into something substantial. But as an entrepreneur, it’s important to understand what type of decision you’re making first.

Sometimes you need to make a decision right away and on the spot. These types of decisions typically don’t leave you a lot of room to maneuver so you need to address your fears head on. Even the most strong-willed of decision makers are subject to fear. It’s human nature. But you have to give yourself space in order to not let that fear cloud the process. It’s OK to pause and be certain you’re focusing on your concerns directly.

Also remember that all decisions are not created equal. You have to be honest with yourself. Is this decision worth the obsession? Is it truly critical at this moment? You only have a certain amount of time in each day, so being able to prioritize can help you become more efficient in making the best decision.

When you have a little bit more time to make a decision, take the time to do some proper research. This can include collaborating with co-workers or even those in the corporate office. Listen to everyone, but remember that the decision is yours and yours alone. You can certainly challenge viewpoints, but resist arguing. Then, based on all you’ve gathered, make the decision.

No matter if it is a rushed decision or if you have time, you have to trust your instincts. That’s the hallmark of great leadership. You’re typically going to have a lot of information in front of you, so focus on what matters the most and go with your gut.

And finally, once you’ve digested all the information, you have to be demonstrative and put your decision into action. You’ll probably never have consensus, but it’s your job as a leader to decide even the unpopular. Just remember, not all decisions are life and death, but every decision you make can have an affect on your business. With a little bit of confidence and by practicing some of these tips, you’ll be on the path to growth.