Business decisions are all about speed & quality.I have seen many times people just cannot decide.They sit on them and delay their decisions by weeks,months and sometimes even years.They get bogged down by too much of research,brainstorming and unending discussion back & forth with their colleagues,friends & family.We call this procrastination or a Analysis Paralysis mindset
In this situation the volume of analysis overwhelms the decision making process. Professionals who are victim of same, may take a lot of time to take business decisions. If you are able to recognize this, you can address this as well.
There are decisions which are more critical than others. There is no doubt that research & analysis pays. Analyze all costs & benefits quantitatively as well qualitatively with pros and cons. This is important and necessary. No doubts….
This becomes an issue when this becomes excess to an extent that this leads into inaction and no longer is considered to be smart & prudent. There has be a “continuous flow” between information gathering and using information. If you gather the information and get overwhelm by it and are not able to use it, it’s making you inefficient and ineffective from a business point of view. Your colleagues and seniors may see you as being indecisive
The difficult part is to admit it first.
Have you ever thought of why it happens despite of knowing that this is critical? Something holds you back..and you don’t trust yourself. You fuel the inertia and sometimes become irrational to the extent that you keep asking for more & more information. We may think that this happens because we don’t want to fail and it’s our fear of failure which make this happen.You may be surprised to know that some of the research done on same explains this to the fear of success & not failure. Why we fear success?
For some, our mind is more conditioned to face rejection and failure then success. We don’t trust us when we arrive at a decision(arriving decision symbolizes success here) on something critical as well important for us. Our subconscious mind is surprised on how we can arrive at it so fast. Mind conditioned for failure wants to believe that something is missing here rather than trusting himself. By the time we will believe ourselves , the opportunity has already gone.
Six fixes which I am aware of which can help in this situation:
· Don’t wait endlessly because you cannot get it “perfect”-A completed imperfect task is better than something which never got started
· Look for something you love – When we don’t enjoy doing something ,we start procrastinating. That is us ,our mind.. Lack of interest in what we do, acts like a food for procrastination. Find something of your interest-can be a hobby or a new job..& you will see how things change
· Procrastination as a way to manage stress – When you are stressed ,you get anxious and hence slowdown yourself .Reduce stress in your life. It will help.
· Boost your energy levels – Any form of exercise may help here. Important is that you should feel good about it.
· Better activity & time-management – Make a list of things which are important for you & need your attention and start acting on those. Cut down others which are occupying your calendar.
· Fear of Skill & Knowledge Gap –Start learning & doing..there is no shortcut to get knowledge & skills
I hope this helps.That's all for this week...