At the heart of good decision making is accurate information. Getting that information takes time.
Consulting other people with a trusted and valued opinion is also highly desirable.
Decisions are best made with a clear ahead. Making decisions when tired or in an emotional state is a recipe for disaster.
A leading clinical psychologist has said that if possible, it is best to avoid making decisions between 10pm and 8am. We all know that a situation can look very different in the morning and ‘sleeping on it’ is generally good advice.
Businesses are very different and whilst some grow rapidly, for others it can take a lot longer and patience is important.
Some of the biggest and best global businesses are where they are because they have evolved over a long period of time.
There are businesses that emerge from know where like a great comet and shine brightly but like a comet very quickly disappear.
But the business environment reflects the world in which we live and that is one where change is rapid. The kind of growth that has been seen in some businesses, particularly the tech sector is almost unknown in the past.
But taking time is important especially when it comes to making decisions. But whilst getting as much good information as reasonably possible it is important to avoid paralysis by analysis as it is to recognise that information changes and that at times it will simply not be possible to get every scrap of information.
Nevertheless, taking your time is rarely a bad idea.