MAKING KEY BUSINESS DECISIONS by David Gold

5 07 2011

I have spent a lifetime creating, building and growing various businesses. I have been successful for a number of reasons and I believe a large portion of my success is down to perseverance, determination and courage.

Being successful in business is largely due to the decisions that you make. We all make mistakes of course, but it is the decisions you make and the actions you take that determine your success, we just have to make more good decisions than bad. When you make a bad decision, learn from it and be prepared next time. If you make a good decision giving your business a positive result, duplicate it and improve it.

Some decisions can be tough to make because they could have a negative financial impact on your business and it is said that procrastination is the thief of time. If it is a big decision then take your time and get a second opinion, running through the situation and scenario with someone whose judgment you trust. They cannot make the decision for you but hearing someone else’s point of view may help you to make the right decision or adjust your plans.

It takes great courage to make decisions in business and the reason it takes such resolve is that you have to live with them good and bad. I believe without a doubt that making decisions for your business makes you stronger, wiser and commercially astute.

Even as your business grows whether you are a manager or a business owner you will need to make decisions. I enjoy the fact that many of our employees have autonomy in their roles and this makes our companies such great places to work.

I took the decision recently to start my succession planning and it was a decision I knew that I had to make. Letting go of something that you have built is not easy and finding the right people that will run your businesses in the way that you have built them takes a great deal of trust and faith.

I wish you every success with your decision making process and remember there’s no such thing as a tough decision only tough people who make everyday decisions.

Best Wishes

David Gold

www.davidgold.co.uk

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