When you start a business one of the hardest things to do is turn down, what we perceive to be, an opportunity. Saying yes to too many things puts us and our business in a position of being stretched thin. How do you overcome this dilemma? Values based decision making.
What is values based decision making?
Values based decision making is based upon having a set of principles that you stand for as an individual and as a business that help guide the decisions you make personally and professionally.
How does values based decision making help you?
Focus– How many entrepreneurs do you know that seem to have their hands in everything but don't ever seem to master anything? I know I have been guilty of this and I know plenty of people who struggle in this area. Having values articulated for your business gives you the ability to say “no” to more things so you can say “yes” to the right ones.
Time– When you lack focus, your time management suffers. Do you have a hard time completing tasks? Do you miss deadlines or fail to do what you are supposed to do. Values based decisions making in your business allows you to identify and spend your time on those core activities in your business.
More Production– Want to create maximum value? Values based decision making helps to make you a more productive person by structuring the activities you do around your passions and wants. In the book, Unique Ability, they make a distinction between what you are very good at and what you are exceptional at. Do you know the difference? Aligning with values helps you be exceptional which then allows you to create more value in less time.
Personal– Is family a personal core value of yours? If it is, how does travel and working long hours affect that and ultimately affect your ability to create value in your business. This is not a knock against people who spend time away from your families but if you have values identified and you stand true to them, you will ensure that you don't have to compromise your personal values.
When you are aligned with values, you are putting yourself in a position to really affect the world in a positive way by being the most productive person that you can be. If you haven't done so, take some time and brain storm what those values may be personally and professionally.
How has values based decision making helped you in the past?
PS… Rick Sapio joined us on our membership, 5 Tracks of Wealth to talk about values based decision making. You can watch the clip here.
PSS…If you want to listen to the podcast click the play button below.