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

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