As the person responsible for the success of your business, making decisions for your dealership can be a daunting task. Even those who are at the top of their field can still get nervous when it comes to making decisions. You may feel like you don’t have enough data to make a solid decision, and that can add to the pressure to make a call. When the stakes are high, there’s risk involved with every possible choice. All of these are valid reasons to feel anxious about committing to something. That’s why we pulled together some ways you can conquer your fear during the decision-making process. Check them out below:
1) Review Past Successes
It’s crucial that as you are prepping for a big decision that you reflect on past achievements you were able to accomplish for your dealership. Too often, we focus on the areas where things went wrong rather than focus on the areas where things went right. What were the steps you took to achieve those goals? And when there were failures, what did you learn and how did you move the business forward beyond that setback? Once you start to believe in what the dealership is capable of, nothing will stop you!
2) Don’t Forget To Breathe
Too often, when we’re focused on making an important decision for any business, we forget to breathe. There may be local competition or market forces that are putting on the pressure for you to act fast. Very few wise decisions were ever made on impulse. You may need to step away from the process for a few minutes, hours, or even a few days, depending on how big the decision is. This reflection will allow you to regain focus and have a renewed sense of clarity before you finalize your decision.
3) Recognize Potential Risks
As you approach your decision, you’ll be able to recognize any potential risks. Depending on the situation, the riskier option may be the better choice if it reaps bigger rewards. Big bets can lead to great success, but it’s important to have backup plans in place. It’s essential for each member of your team, across all impacted areas of the business, to understand the risks and know how to respond. There are really only 3 possible outcomes to prepare for: wild success, expected success, or lack of success. If you build plans against each of those outcomes in advance, there will be no time lost in trying to decide how to proceed when the results come in.
4) Realize There Are No Wrong Decisions
Anytime you’ve made a decision for the betterment of the dealership, it’s always been what you have felt was right in that exact moment with those circumstances. Even if some past decisions led to mistakes, you and your team learned from them and evolved. There’s no use to lamenting over what happened or what could have happened. When you decide your dealership is ready to evolve once again, realize there’s no such thing as a wrong decision, you’ll be much more confident in making the next one.
A dealership can be a big team across several different departments. Communication is critical during this time to make each team member feel like they play an important role in the decision-making process. Your employees need to feel valued, and soliciting input and information from them will also show honesty and integrity on your part. People like to feel like they are part of something and are valuable assets, not just there to do the work. The final decision is yours, but the process of sharing the challenge with others can give you perspective. You’ll gain more supporters encouraging you in your choices for the dealership by doing this as opposed to doing everything solo. After all, there’s no “I” in Team.