By Valen Vergara
Studies have shown that the top CEO’s have one trait in common. They have the ability to make executive decisions in a timely manner. When the stakes are high and it’s all on the line. It’s no wonder that so few can fill the shoes of a CEO. With all the decisions and choice theory at play, the average human being would experience “paralysis by analysis.” Learning from a nine-figure mentor I had this question answered.
Now how exactly does one make decisions like a CEO?
Better yet, how does one create and make decisions like a CEO?
In the beginning, there was one, that one was YOU and you had a big idea. You didn’t know it then but you were a CEO, you were your own professional services enterprise. There’s power when two or more come together. You may not know this yet, only because you’ve been doing it all on your own. In the start-up phase in business and career, having a Co-Believer changes the game. It will change everything for you. Resolve now to find a Co-Believer for your business and life. A Co-Believer is someone who is equally or crazier than you and has the same irrational passion for pursuing like-minded dreams and goals. Ask any high achiever and they should reveal to you that they’ve had a Co-Believer(s). You can too. The power of a Co-Believer is priceless, in business and life. Even if that Co-Believer is not your legal business partner but a mentor! They will keep you sane, help you remain against the grain, even though your lofty goals are slightly insane. Find a Co-Believer that believes in your mission and things will never be the same!
At the outset, you will be met with many things. These things can be summed up in one word… CHOICES. This is where Robert Kiyosaki’s acronym accents things well: Fail Early And Responsibly. Failure is course correction and when you quit after failure you’re wasting valuable learning opportunities. Once CEO decisions are created with the Co-Believer, now we must make the decisions you’ve created. How!? Enter stage left… The 49/51 Decisions! These are decisions, that when decided upon, both have the potential for equal opportunity. In other words, if you had to make a choice between the two decisions, both would benefit you. Both would also have similar risk outcomes.
Note: That NOT making a choice with a 49/51 Decision, and procrastinating; ultimately leads to wasted time, which means wasted money, growth, and opportunity. Someone said once that, “imperfect action is better than perfect procrastination!” The point here is to MAKE the decision and ask questions, not later but along the way. This is one of the strongest skill sets of a CEO, and making 49/51 Decisions are nothing new to the CEO, someone must call the shots. Isn’t that right?
49/51 Decisions become more complex when there are dozens of them. To each their own. How now do we handle many decisions swimming in the “sea of sameness?” Enter stage right… The Decision Contest. Take each and every decision out on a double date and decide which one, after the pros and cons, is the one that has your heart and mind. It isn’t important which decision you pair going onwards and upwards; however, it’s important that you pair the decisions on paper. Pick one and stick with it. All the while tracking the decisions and outcomes you’ve made and experienced. By the end of it all, you will have made a decision out of all the choices you once had and will be able to move forward.
It’s all fine and dandy now for you. But once your Co-Believers have accepted the mission they will have to make decisions. Give the permission for your Co-Believers to make decisions. Give the green light to your team to make 49/51 Decisions and to hold Decision Contests. Be sure to give them decision-making power to make these decisions as well. This will empower them and streamline your business and life. This means giving authority for your Co-Believers to make executive decisions around certain guidelines that you have predetermined. What gets measured gets managed, be sure to keep track of the decisions and the results and you will be well on your way to making decisions like a CEO!