How To Make Informed Decisions with Imperfect Information

Be OK with making mistakes. Decision-making inherently has a risk element, and knowing how you make decisions with imperfect information is a reminder that you are human — and also helps with a better understanding of the cascading results of making a choice.

Whether it's time-sensitive, a risk of looming stagnation, or more information is necessary — consider what you know: the decision will create something. Hopefully, forward movement. Use decision-making to move forward, not to plan into the far-distant future (that's what your business strategy is for). Change from making decisions still has a stigma, so the more your company normalizes "change," the more you can use decisions to iterate forward.

In this program, you will hear about how you get in your own way; how to notice reality to reset and refocus; and that it is OK to make mistakes. The conversation calls out that life and work are messy, and more gets done when embracing that fact. The discussion highlights that making decisions has risks and that it is courageous to understand your risk tolerance.

Jess Dewell invites Maria Morkuian, President of MSM Global Consulting, LLC, and Stephanie Judd, Founder and Managing Partner of Wolf & Heron, to explore the topic of making decisions without complete information. They discuss the importance of being bold and proactive in decision-making, even in situations where information is missing.

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If you want to continue to look for inspiration to creatively or innovatively approach decision-making and problem-solving, use the experiences of other business owners who have created great companies. Try Fast Track Your Business today to keep learning and growing and stay intentional as you work strategically on your business.

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Feel like you need a bit of help with some business direction? Then ACT to Plan by contacting Jess for a Business Base Camp Consultation. You'll discuss your aims, where you are, and where you should be to move deliberately toward your team-building goals!

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If you want to stay informed and plan for a successful year, download the Annual Red Direction Business Management Report and get access to survey findings and information to help navigate volatility and uncertainty.

You can get in touch with Jess Dewell on Twitter, LinkedIn or Red Direction website.