Good Business Leaders Use Intuition to Make Decisions

ImageDecision making is constant in business. Advancing products, engaging employees, responding to customers all while keeping a careful eye on the bottom line. It is the basic function of a leader to be continuously selecting priorities and taking action. Multitasking and constant awareness come with the territory of being in charge. The only stop to the ongoing process is shut-eye. Not resting, deep sleep.

Every person, whether in a leadership role or not, confronts hundreds, thousands even tens of thousands instinctual decisions throughout a given day. Some are instantaneous, or as we classify “automatic”, while others require in-depth analysis. We all have an internal analytic engine, taking everything we know, we collect and can reference based on experience to churn out a decision. We are the greatest sources of our own big data!

As technologists find ways to host, gather and exploit bytes by the billions and trillions of data from others, our own brain functions as the largest processor of data. Enabling us to act quickly or deliberately, at the speed of which best suits the need for a decision. Not everyone utilizes their “big data” engine in the best way, whether from a lack experience or knowledge, impairment or perhaps ignorance to what the data shows. The result, bad decisions.

In business, some can be plagued by the constant role as Decider-in-Chief. This often results in procrastination or delayed decisions. The common impact is action taken “too late”. The organization depends on a leader to make impromptu decisions, while also taking deliberate actions to lead to the “best” decision given a certain set of facts. Organizations need deciders to execute plans, activate programs and assign activities that drive results.

Good leaders often have a good sense of intuition. They use gut check analysis and set plans into action, without the noticeable analysis that others might use in trying to determine the path forward.  Where did they acquire such skill?  Repetitive decision making. Leaders know they have to make decisions, they are accustomed to their role and have the experience of accepting fault and risk with taking action. This training builds confidence and a strong basis for intuition. Making decisions over and over again in practice builds an intuitive leader.

Some researchers claim that intuition results in a physical experience, a shiver, an image or the often unexplained deja vu.  Others may use the intuitive nature of a dream to set a plan into action. The remembrance seems to create a comfort in the decision, having the sense of knowing the outcome. Beyond the intangible means from which confidence results, the facts are that when decisions are needed, strong leaders will act. Knowing inaction often results in increased pressure, stress and potential problems, making a decision, right or wrong, seems to give a sense of relief.  Decisions invoke power and progress.

There is no magic in intuition, it’s brain power. It is knowledge. Intuition is using information, filtering and making a judgment based on experience. The continuous practice of using intuition creates a platform to control quality of decisions and use of perception or quick insight, without compromising confidence.

Intuition is not “inherent”, it is learned.  The origin of the word dates back to the 1400’s as a reference to contemplation. There are many times that intuition will lead to proven conclusions; however, a leader will not always use it quickly and without process. There is often a misnomer that intuition means instant, without regard for facts or experience. It does not. It means using your better judgement and trusting your thoughts, your ideas and your role as a decision maker. It is using your intuition to move forward.

Your time is limited, so don’t waste it living someone else’s life. Don’t be trapped by dogma – which is living with the results of other people’s thinking. Don’t let the noise of others’ opinions drown out your own inner voice. And most important, have the courage to follow your heart and intuition.” – Steve Jobs

Jamie Glass, President and CMO at Artful Thinkers @jglass8

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Patience is a Vice and Virtue in Business

iStock_000017171991XSmallPatience is virtuous when it empowers you to use good judgement. Patience is a vice when it is used as an excuse or method of procrastination.

Patience has a role in every aspect of business. Patience can be a virtue when leaders need time to evaluate and research the benefits and risks associated with critical business decisions. Patience can also be a vice when it hinders progress or is used by leaders to stall or delay difficult decisions.

In business, leaders gain respect when patience is used as a sensible guide. It can help define practical goals and set realistic expectations on performance. Patience is valuable in strategic planning, negotiations and critical thinking exercises that have significant impact on the future of a business. Patience also defines a business reality and sets a tone of perseverance.

Leaders can immediately lose respect if they show little or no patience. Rushing to judgement can sabotage activities or blur facts. Charging forward on key decisions regardless of the cost or potential dangers, can result in missed opportunities and less-than desirable outcomes.  Leaders that employ too much patience may be deemed as lacking confidence in their own decisions or lacking confidence in others.  It can spark insecurities and even instability in the business. No patience creates a perception of erratic and unstable leadership.

Patience needs balance. When patience is part of the decision-making process, be certain that there is substantiated purpose. For example, use patience in planning when you need to acquire experience, research facts, test an outcome or survey others for input. Patience used to delay a decision because of a lack of experience or knowledge can create a false roadblock. Set a timeline. Using patience to gather feedback is a good use of the virtue.  Patience becomes a vice when it drives you to continually seek consensus on all decisions.

Patience as a virtue gives you capacity to endure waiting. Patience as a vice is not setting a deadline, allowing difficult decisions or unexpected outcomes to linger and potentially harm the business. Patience, used correctly, is part of your business ethics. It helps in governance.

Patience gives you the fortitude to make decisions. The right amount of patience enables leaders to use levelheadedness and detach from emotions in the decision and use logic and facts. Patience is a vice when it is used so frequently that it creates an emotional detachment to any decisions or prevents you from personally engaging or taking responsibility for your decisions and commitments.

Patience in business needs to be modulated. It is a guide, a compass. It is never absolute. There are times you have to make immediate decisions. There are many times you need to trust your gut, your instincts, you inner voice and just go. True leaders have the courage to accept associated risk with making a immediate decisions, as well as knowing when it is important to deploy patience at the right time to get the best results.

“Patience is bitter, but its fruit is sweet.” ― Aristotle

Jamie Glass, President and CMO at Artful Thinkers @jglass8

Leaders are Superior Deciders

Leaders are DecidersBusiness leaders and entrepreneurs are faced with endless decisions. The effect of every decision can impact the forward motion of the organization, address critical business needs or simply keep operations steadfast.  Decisions are part of the bosses daily to do list.  How decisions are made reflects your effectiveness and judgement.

As a leader, you have the role as crowning decider. Confidence in your ability to make decisions impacts how others recognize you inside and outside your organization. Employees, partners, customers, vendors, investors and your market industry all evaluate your strength as a leader based on your decision making skills.

Being resolute and determined assures others you are unmistakably in the right position to guide the company. Responsibility and accountability rest on your shoulders, always.  Whether you delegate the actual decision making process to someone in your business or not, you own the outcome.

How leaders make decisions sets the pace of how the business operates and often to what degree it succeeds.

  • Fast Decision Makers:  High growth, innovative businesses require a leader adept to making rapid decisions, trusting intuition and using a high threshold for exposure to risk.  Failure is an option for this type of decision maker, as the decider is likely a pro at pivoting.
  • Moderate Decision Makers: Leaders that use managed growth strategies require a steady hand. They are assessors and consumers of strategic evaluations and advice to help mitigate risk.  Roadmaps, KPIs and measured milestones often guide this type of leader in their timing of decisions.
  • Slow Decision Makers:  Risk adverse companies who have a very low tolerance for failure, perhaps because of the financial structure, need a decider who will go beyond assessment.  They use defined research, analytic and data resources, detailed reports and experts to evaluate their decisions.  These type of deciders are patient and often are primarily focused on long-term goals and objectives.

Of all types of deciders, the biggest failure of any business leader is NOT making a decision.  CEOs and business owners are often surrounded by advisors and have multiple inputs into their decision making processes.  It can complicate the final call.  Talk is not cheap. Too many inputs can slow down decisions and increase risk.

Businesses fail in absence of making decisions.  New technologies can sweep them out of the market.  Hindered by bad personnel, companies can be drained of momentum and energy.  Capital issues can delay key projects and impact future revenue.  Making a decision, can negate these types of risks.

Empowering others to make decisions is important in any business.  Provide others the capability of being creative and strategic in their role by decision making authority.  You want thinkers and doers in your business.  If they are only allowed to do, based on your decisions, you can stifle cooperation and confidence.

You may need to set limitations on decision making capabilities by your empowered team based on the business risk tolerance.  Budgeting is one way to put in business controls, along with road maps.  Define what has the most critical impact on the business and put in place the sign-off authority for those decisions.  For example, if a product development change can delay meeting a critical release date of a product or service, put in place authorizations to manage expectations with all stakeholders.

Whether a decision relates to products, markets, finances, technologies or personnel, a business can easily become paralyzed without a strong leader that makes decisions.  The final decision is the responsibility of the leader. Inputs need to be managed.  Assign a deadline and know when a final decision must be made, without exception.

As the decider, you have the ultimate power.  How you use your power is a reflection of your leadership.  Whether you choose to make rapid decisions or methodical, deliberate decisions, the action matters most.  Don’t let decisions, small or large, slow you or your business down.  Procrastination is deadly.  Lead by deciding.  Decide how you will lead. Decide now.

By Jamie Glass, CMO & President of Artful Thinkers and Managing Director of Sales & Marketing Practice at CKS Advisors.

Manage Your Influencers for Optimal Results

Business TargetKey influencers play a critical role in every business. Decision makers are guarded and guided by inside and outside advisors and gatekeepers. How you manage your trusted advisors can help or harm your business.

Influencers know they have the power to change or compel action. It is the business leaders responsibility to validate and control the effect of influencers. Those who sit closest to authority and are granted permission to persuade, have a direct impact on your success. Do you know who is currently sitting at your table of influence?

In order to responsibly manage your influencers, take time to identify those that are in your inner circle and those effecting your judgement. Inside your business look at department heads, executives and even top revenue generators whose opinions impact your future.  Who are your squeaky wheels? Are they helping you make better decisions for your business or slowing down how you operate?  Influencers can be carriers of good and bad advice, they may be motivated by selfishness. It is up to you to vet, challenge and manage your influencers for optimal results.

One way of evaluating an influencer is to ask them what they believe are your highest priorities. Are they up-to-date on your current business plans and growth strategies?  Do they know the profile of your most profitable customers?  If not, it is the perfect opportunity to align your thinking. Define and clarify what is most important to you and your business.  Let them know how they can help you.

To get the best results from your influencers, provide regular updates on business goals, initiatives, challenges and opportunities.  Acting as gatekeepers, key influencers can open doors to new ideas, solution providers and even make introductions to customers. They also have the ability to close doors.  As the final decision maker, you are ultimately responsible for those that make it through the “gate”.  Challenge those that have the authority inside your business to say no.  Know who they turned away and why.

Update your outside advisors quarterly about key initiatives and strategic objectives. These influencers, such as accountants, legal counsel, wealth managers, business consultants and top vendors are connected and often sources for essential referrals. They act as a conduit for information and potential services that can help you achieve your goals.  If your influencers know your interests, they can better serve you.

Know that influencers get things done. They effect change. They make things happen. You need to know who they are and leverage them for maximum impact to your business. Lead influencers to your expected outcomes. Manage them for the best results.

Jamie Glass, Outsourced CMO and President of Artful Thinkers, a strategic sales and marketing consulting company and Sales & Marketing Services Managing Director at CKS Advisors