Retailers — not unlike the rest of us — sometimes can’t decide. Do you add a new line or not? Do you remodel? Do you open a second store? What to do, what to do?
The Retail Owners Institute (ROI) takes the pain out of decision making, with a 12-step process that helps you get organized. Here are just a few of the suggestions from the paper, “A Strategy for Business Decision-Making:”
Set Deadlines: Pick a date by which you will make the decision.
Define the Issue: Write a single sentence that identifies what you are considering.
Consider the Alternatives: Are there other ways to go about this? Think about it.
Develop a Plan: Write down how you plan to accomplish whatever goal you are considering. How much will it cost? Who will do what? When will they do it?
Tell Yourself Why: Why the heck do you want to do this?
It’s good, practical information. Try it out; see how it works for you.