June 27, 2023 • 9 mins
Here are a few things Pete covers:
- The power of envisioning outcomes
- Clarifying the future for effective decision-making
- Communicating the promise of your organization
- Prioritization and motivation for achieving goals
- Considering short-term and long-term implications
It's time to take action:
The most important thing for the listener to do after listening to the podcast is to download the decision activator tool mentioned in the episode, which can be found at simplifyingentrepreneurship.com/fiveFs.
Are you looking to make some changes in your business and your life in 2024? Head over to speaktopete.com and book a chat with me to see if we're the right fit!
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Pete's Websites:
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The Exit Ready Business
Kolbe Coach
Simplifying Entrepreneurship
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Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Unknown (00:03):
What's the most important thing you do as a
leader of your business? Well,you make decisions, and it's all
about the steady progression ofmoving from operator to owner in
your business. Ultimately,decisions should be made at the
lowest possible level of yourorganisation. And if you're
making all of the decisions,you've got some work to do. And
in this six part series, we'llgo through the five F's of
(00:27):
better decision making, theframework will help get the
craziness out of your head andonto paper so that you can
reduce procrastination andadvance the ideas you have even
faster to download a PDF copy ofdecide already the five apps of
decision making, as well as adownloadable worksheet on the
subject so that you can makefaster and better decisions in
(00:48):
your life and business. Slide onOver to simplifying
entrepreneurship.com five apps,that's simplifying
entrepreneurship.com forwardslash number five, the letter F
and the letter S. Well, settinggoals and envisioning outcomes
is where the future starts, fordecision making. And that's the
first of five apps. Remember,the five F's of decision making
(01:12):
are the future, the facts, thefigures, the feelings, and the
feedback in today's episode isall around the future. It's like
setting the goals andenvisioning the outcomes. If you
don't have a clear vision ofwhat you want this decision how
you want it to come out at theend, then it's going to be very
(01:32):
hard to make this decision. Andthat's one of the reasons why
business leaders procrastinate,because they think about things
and they think about things, butthey haven't clarified the
future. Yes. And they haven'tclarified the other four F's as
well. And that's why this wholeprocess is important. But
starting things off andunderstanding what the benefits
(01:53):
of this decision will be, notonly to you, but to your team
and to your most of all yourclients. Because remember,
everybody buys a better life.
And if you can't depict how thatfuture is going to be better for
your client, chances are, thedecision you're making now that
fulfils the client need isprobably not going to be a
(02:13):
beneficial one for either you orfor them. And that's why really
understanding the future of thisdecision. So we always start
off, I've come up with a littletool called the decision
activator. And you can downloadit as part of the package in
this series download atsimplifying entrepreneurship.com
forward slash five F's, but theone sheet is called the decision
(02:34):
activator. And it always startswith, what do you need to decide
upon. So pick that decision, andthen outline the impact of the
future. And when we outline theimpact of the future, you should
always be outlining not onlywhat it looks like to win that
decision, but what it looks likeif we don't win the decision.
Because when you have clarity ofboth sides, it helps in capture
(02:57):
what it is you need to do. Andyou know what, not every
decision you're going to moveahead with because sometimes at
the end of using this framework,the decision activator to
actually Decision Factor iswe're not going to move ahead
with this idea. And that's awin. Sometimes just going
through these frameworks allowsus to put things to bed. And
that's a really important pieceof deciding. Because if you're
(03:20):
using all of your decisionjuices, and by the way, there's
lots of talk out there aroundhow we make 35,000 decisions in
a day. I mean, 35,000, it'scrazy, but I get it as a
business owner, and I'm sure youdo, too. The idea here is that
we're making decisions that areof the highest level impact in
(03:41):
our position, I've got anothersaying that goes like this
decisions should be made at thelowest possible level of the
organisation. If everybody inthe organisation understands
what the promise is that you'remaking to your clients, then
they should be able tounderstand the future of what we
want the decision to be right.
(04:05):
And that's one of your primaryjobs, as the leader of your
organisation has to be forevercommunicating the promise and
saying, This is what we do. Thisis why we do it. Because
everybody buys a better future.
Every client that puts downtheir dollar or their 1000s of
dollars or millions of dollars,whatever business you're in, for
your services is buying a betterfuture. So in order for you to
(04:25):
make this decision in yourbusiness, whatever it may be,
maybe it's hiring your nextperson, maybe it's bringing in
the next machine, maybe it'sbringing on a new point of sale
system, or it doesn't reallymatter. It could be buying a
vehicle that you need forservice in your business. But
all of these decisions, we needto outline the future. That's
(04:45):
where it all starts the impactof this. How will it make our
business better so that we canmake the business better for our
clients? I'd like to break downthe future segment of this
exercise with a few differentsegments and one is
prioritisation. And a lot oftimes when we talk about
(05:06):
prioritisation of this futureimpact. It's about the timeline,
right? When you have the clearvision and the set of goals,
you're able to prioritise thesedecisions based on the potential
impact of your business'ssuccess, you know, it ensures
that you invest your time andenergy and resources in the most
critical aspects of yourbusiness. And the next one is
(05:27):
motivation, your goals and yourvision serves as a source of
motivation and inspiration. Andit drives you and your team,
right, we talked about your teamto make decisions that
contribute to achieving thedesired outcomes of the
decision, driving you and yourteam to make the choices that
contribute to achieving thedesired outcomes of the
decision. How important is thatyou got to be motivated to get
(05:49):
it done, you have to understandwith full clarity the future,
and then we align it all up withthe other five apps, right, the
facts, the figures, the feelingsand the feedback. Often, when
I'm doing this part of theexercise, I'll look at
evaluating the short term andthe long term implications, just
a couple of quick jot notes. Imean, ultimately, we're flushing
(06:10):
this out. But at the same time,if all you have time for is a
few minutes, get them down on apiece of paper, so you can go
back to it and dig into it alittle bit later. Right. When
making decisions, it's essentialto consider both of the
immediate and long termconsequences. And think about
how the choices will impact yourbusiness in the short term, or
long term. How does it alignwith all of the things you've
(06:31):
set up in your guidingprinciples? And how does this
decision align with the scope ofall of the things that you want
to get done? Got to think alsoabout some of the potential
obstacles, like what is going tobe put in the path here of
making this, either win or losethis decision, as we talked
about, think about not only howyou can win this decision, but
(06:51):
how you lose this decision? Whatare those obstacles, lay them
out, identify the challengesupfront, so you can develop the
strategies to overcome them andto mitigate essentially the
potential risks. Consider thoseworst case scenarios. It's
important, and we will considerthem a little bit deeper as we
go into the facts and thefigures. But get your general
(07:11):
feelings here on the future.
When we start looking at that byincorporating the futures,
setting a few of these goals andvisioning some of these outcomes
into your decision makingprocess, you'll just be better
equipped to make more informedchoices. So if you've got a
decision make now where do youstart? You start with
envisioning the future, the goodand the bad, the obstacles, the
priorities, and how does italign with your guiding
(07:35):
principles? And how does it makeyour client's life better? When
you make your clients lifebetter, your business is going
to be better. And when yourbusiness is better, you're going
to have a better life. Andthat's why we all get into
business. Because we want tohave a better life. So think
about that as the first half ofthe five apps of better decision
making. It's where to start abetter future. What's the
(08:00):
decision that's been keeping youup at night, you probably have
one you've been procrastinatingit for a while now you know it's
there. It's taking up yourvaluable use of time it's taking
up your mental energy taking upsome of those decision making
juices. Take out a sheet ofpaper and write down what the
future outcomes are right now sothat you start getting the stuff
(08:20):
out of your head onto paper sothat you can take action upon
the decision that you need tomake. Stay tuned next week for
the next edition the next Fwhich is all around how facts
play into better decisionmaking. Here on the business
owner breakthrough podcast. Nowgo and make it a great day
(08:49):
and ironic media production,visit us at our ONICK media.com
What's the most important thing you do as a
leader of your business? Well,you make decisions, and it's all
about the steady progression ofmoving from operator to owner in
your business. Ultimately,decisions should be made at the
lowest possible level of yourorganisation. And if you're
making all of the decisions,you've got some work to do. And
in this six part series, we'llgo through the five F's of
(00:27):
better decision making, theframework will help get the
craziness out of your head andonto paper so that you can
reduce procrastination andadvance the ideas you have even
faster to download a PDF copy ofdecide already the five apps of
decision making, as well as adownloadable worksheet on the
subject so that you can makefaster and better decisions in
(00:48):
your life and business. Slide onOver to simplifying
entrepreneurship.com five apps,that's simplifying
entrepreneurship.com forwardslash number five, the letter F
and the letter S. Well, settinggoals and envisioning outcomes
is where the future starts, fordecision making. And that's the
first of five apps. Remember,the five F's of decision making
(01:12):
are the future, the facts, thefigures, the feelings, and the
feedback in today's episode isall around the future. It's like
setting the goals andenvisioning the outcomes. If you
don't have a clear vision ofwhat you want this decision how
you want it to come out at theend, then it's going to be very
(01:32):
hard to make this decision. Andthat's one of the reasons why
business leaders procrastinate,because they think about things
and they think about things, butthey haven't clarified the
future. Yes. And they haven'tclarified the other four F's as
well. And that's why this wholeprocess is important. But
starting things off andunderstanding what the benefits
(01:53):
of this decision will be, notonly to you, but to your team
and to your most of all yourclients. Because remember,
everybody buys a better life.
And if you can't depict how thatfuture is going to be better for
your client, chances are, thedecision you're making now that
fulfils the client need isprobably not going to be a
(02:13):
beneficial one for either you orfor them. And that's why really
understanding the future of thisdecision. So we always start
off, I've come up with a littletool called the decision
activator. And you can downloadit as part of the package in
this series download atsimplifying entrepreneurship.com
forward slash five F's, but theone sheet is called the decision
(02:34):
activator. And it always startswith, what do you need to decide
upon. So pick that decision, andthen outline the impact of the
future. And when we outline theimpact of the future, you should
always be outlining not onlywhat it looks like to win that
decision, but what it looks likeif we don't win the decision.
Because when you have clarity ofboth sides, it helps in capture
(02:57):
what it is you need to do. Andyou know what, not every
decision you're going to moveahead with because sometimes at
the end of using this framework,the decision activator to
actually Decision Factor iswe're not going to move ahead
with this idea. And that's awin. Sometimes just going
through these frameworks allowsus to put things to bed. And
that's a really important pieceof deciding. Because if you're
(03:20):
using all of your decisionjuices, and by the way, there's
lots of talk out there aroundhow we make 35,000 decisions in
a day. I mean, 35,000, it'scrazy, but I get it as a
business owner, and I'm sure youdo, too. The idea here is that
we're making decisions that areof the highest level impact in
(03:41):
our position, I've got anothersaying that goes like this
decisions should be made at thelowest possible level of the
organisation. If everybody inthe organisation understands
what the promise is that you'remaking to your clients, then
they should be able tounderstand the future of what we
want the decision to be right.
(04:05):
And that's one of your primaryjobs, as the leader of your
organisation has to be forevercommunicating the promise and
saying, This is what we do. Thisis why we do it. Because
everybody buys a better future.
Every client that puts downtheir dollar or their 1000s of
dollars or millions of dollars,whatever business you're in, for
your services is buying a betterfuture. So in order for you to
(04:25):
make this decision in yourbusiness, whatever it may be,
maybe it's hiring your nextperson, maybe it's bringing in
the next machine, maybe it'sbringing on a new point of sale
system, or it doesn't reallymatter. It could be buying a
vehicle that you need forservice in your business. But
all of these decisions, we needto outline the future. That's
(04:45):
where it all starts the impactof this. How will it make our
business better so that we canmake the business better for our
clients? I'd like to break downthe future segment of this
exercise with a few differentsegments and one is
prioritisation. And a lot oftimes when we talk about
(05:06):
prioritisation of this futureimpact. It's about the timeline,
right? When you have the clearvision and the set of goals,
you're able to prioritise thesedecisions based on the potential
impact of your business'ssuccess, you know, it ensures
that you invest your time andenergy and resources in the most
critical aspects of yourbusiness. And the next one is
(05:27):
motivation, your goals and yourvision serves as a source of
motivation and inspiration. Andit drives you and your team,
right, we talked about your teamto make decisions that
contribute to achieving thedesired outcomes of the
decision, driving you and yourteam to make the choices that
contribute to achieving thedesired outcomes of the
decision. How important is thatyou got to be motivated to get
(05:49):
it done, you have to understandwith full clarity the future,
and then we align it all up withthe other five apps, right, the
facts, the figures, the feelingsand the feedback. Often, when
I'm doing this part of theexercise, I'll look at
evaluating the short term andthe long term implications, just
a couple of quick jot notes. Imean, ultimately, we're flushing
(06:10):
this out. But at the same time,if all you have time for is a
few minutes, get them down on apiece of paper, so you can go
back to it and dig into it alittle bit later. Right. When
making decisions, it's essentialto consider both of the
immediate and long termconsequences. And think about
how the choices will impact yourbusiness in the short term, or
long term. How does it alignwith all of the things you've
(06:31):
set up in your guidingprinciples? And how does this
decision align with the scope ofall of the things that you want
to get done? Got to think alsoabout some of the potential
obstacles, like what is going tobe put in the path here of
making this, either win or losethis decision, as we talked
about, think about not only howyou can win this decision, but
(06:51):
how you lose this decision? Whatare those obstacles, lay them
out, identify the challengesupfront, so you can develop the
strategies to overcome them andto mitigate essentially the
potential risks. Consider thoseworst case scenarios. It's
important, and we will considerthem a little bit deeper as we
go into the facts and thefigures. But get your general
(07:11):
feelings here on the future.
When we start looking at that byincorporating the futures,
setting a few of these goals andvisioning some of these outcomes
into your decision makingprocess, you'll just be better
equipped to make more informedchoices. So if you've got a
decision make now where do youstart? You start with
envisioning the future, the goodand the bad, the obstacles, the
priorities, and how does italign with your guiding
(07:35):
principles? And how does it makeyour client's life better? When
you make your clients lifebetter, your business is going
to be better. And when yourbusiness is better, you're going
to have a better life. Andthat's why we all get into
business. Because we want tohave a better life. So think
about that as the first half ofthe five apps of better decision
making. It's where to start abetter future. What's the
(08:00):
decision that's been keeping youup at night, you probably have
one you've been procrastinatingit for a while now you know it's
there. It's taking up yourvaluable use of time it's taking
up your mental energy taking upsome of those decision making
juices. Take out a sheet ofpaper and write down what the
future outcomes are right now sothat you start getting the stuff
(08:20):
out of your head onto paper sothat you can take action upon
the decision that you need tomake. Stay tuned next week for
the next edition the next Fwhich is all around how facts
play into better decisionmaking. Here on the business
owner breakthrough podcast. Nowgo and make it a great day
(08:49):
and ironic media production,visit us at our ONICK media.com
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