I have heard some experts say that business is about making decisions. Sure, that is true in a sense, but what is more accurate is that running a business successfully is about making the right decisions.
And that is where we can relate it to delivering a baby…
Let me explain.
Prefer to read rather than watch and listen? No problem – here’s everything I said in the video as text:
Hi this is Shweta from London Coaching Group. As per hospital episode statistics 50% of UK births need intervention. What I want to share with you today is a very practical tool which not only helps deliver healthy babies but also helps you with delivering healthy business results.
Now as you can imagine in the moments of crucial decision making when you have to decide which intervention to go for, it could be very tricky for parents when time is less, energy is less, and emotions are running high.
And keeping the business context on, when you have to make the crucial decisions for your business when the energy, time, money is not unlimited you need to be making the right decisions.
Now the model I want to talk about actually helps you place your intuition, your energy and your passion or your experience at the right time rather than clouding that decision.
The BRAIN Model for Making Decisions
So what I want you to do is actually write down this model and what is called the BRAIN model, so just write this down and we will go through it quickly, systemically but quickly.
Now let’s take a scenario in the business. Imagine you’re thinking of hiring someone for an important position, which might help you with the top-line growth, the revenue growth, now it’s an important one because there is an outlay and it will help us deliver the growth of the company.
So when you’re looking at this kind of a situation, you can make an intuitive call but it’s like flipping a coin and hoping it will be the right one or you could use this model to make sure it’s the right decision. So let’s go through this.
Decision Making Model Step 1: Benefits
The first thing that you need to look at is what are the Benefits of making this decision. And simply writing down the bullet points as to what are the benefits that you will have from hiring this person.
Decision Making Model Step 2: Risks
The second thing you need to look at in a very objective manner is saying what are the Risks of hiring this person. If this person is not successful, what will it mean in terms of the next 3 months of salary costs. And will there be any other disruption or organisation change? What are the possible risks?
Decision Making Model Step 3: Alternatives
Once you do that, this is the other question that people don’t ask very often and when I’m working with clients it’s actually having that divergent way of thinking. Looking at different possibilities and then coming up with the right solution.
So the 3rd one you actually want consider and ask yourself this question – what are the other Alternatives? What are the other options? Could you be rejigging the organisation? Could you actually outsource this? Or maybe someone else just needs to spend a little more time doing this and that will take care of the problem. So what are the alternatives that you could be looking at?
Decision Making Model Step 4: Intuition
And then once you have looked at these three elements that’s where the energy, that gut feel comes into the picture – your experience and what I call that here is intuition. What does your intuition say? What do you think?
Because now your logical mind has kicked in and now it’s all about thinking, “What do you think?” What does your gut say?
Decision Making Model Step 5: Nothing
And finally the last one, which is quite interesting, I personally find it very interesting. And I think business is not always about just moving on and doing lots of things. Sometimes not doing something, not focusing on something itself is a decision you are making in the business.
And what this stands for is Nothing. If you don’t do anything, then what would that mean? Is that the right thing to actually do? Just wait a little bit more and then a better solution will emerge.
So when you think about it, it’s all about going through the decisions, not in a slow manner, actually in a fast-paced manner. But doing things systematically so that you’re not missing out what you should not be missing out on. Because at the end of the day, business is about making decisions and making the right decisions for your business because that’s what reflects in its results.
Give Your Business A Check Up
When parents make decisions on what direction to take when there are complications at birth, they rely on the expertise and advice of their doctor – or doctors – to guide their decisions.
Why not take your business to the experts to give it a check-up and find out if some small changes could put it in better shape?