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A Glimpse Inside The Minds of 5 Great CEOs And Their Secrets To Good And Swift Decision-Making

A Glimpse Inside The Minds of 5 Great CEOs And Their Secrets To Good And Swift Decision-Making

The greatest CEOs make decisions all the time. They just don’t make them like most of us do.They don’t agonize and deliberate over decisions. They make decisions on the fly and they do it with swiftness and purpose.

How?

They have a structured, minimalist approach to decision making. The decision making process is as sleek as a fighter jet is aerodynamic.

In this post we’ll look at some of the greatest CEOs in recent history and I’ll show you exactly how their individual decision making approaches led their corporations into the history books.

On the face of it, decision-making sounds really complicated and scary. The truth is all great CEOs have a specific approach to decision-making – a clear decision making framework.

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Sure, every great CEO operates with his or her own signature style. But, one thing’s common to all of their approaches: they have their decision-making rules in place long before they even approach a decision.

This enables them to make decisions quickly and consistently in line with their chosen direction. They also used this framework to delegate decision-making through their organisations.

Are their decisions always right? No. But are they always consistent with direction that the CEO decided upon at the start of the company’s journey. You betcha!

And it’s the consistency over time that’s aligned with one direction that has led these companies into the history books.

Another interesting thing about these CEOs – they used their decision making frameworks to buck the trend. They did something radical. They all did something that flew in the face of conventional wisdom. They zigged when the world zagged.

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Let’s have a closer look at five of these game changing CEOs.

1. Steve Jobs (Apple)

Jobs adopted a minimalist approach and ruthlessly axed more than 70% of Apple’s product lines as soon as he was reinstated as CEO in an amazing turn of events (after having been ousted as CEO a few years earlier). He had one main focus : delivering spectacular customer experience innovative design and simplicity of use.He even cancelled the Newton PDA which wasn’t a very popular decision at the time. But Steve’s minimalist approach to product design was clearly in place well before he made these decisions.

2. Warren Buffett (Berkshire Hathaway)

Warren Buffett is unquestionably the greatest investor of all time. His approach to making investments boiled down to buying into great companies when they were undervalued by the market and selling them when they were overvalued. Having started with nothing, Warren Buffett’s personal assets were valued at around $57 billion when he was ranked the richest man in the world. Buffett’s approach to decision-making around investing is very clear. If you’re not going to hold a stock for 10 years then don’t hold it for 10 minutes. Once again, Buffett’s decision-making framework was well in place before he made a single investment decision. He continues to operate with essentially the same decision-making framework that he had in the 1970s.

3. Jack Welch (General Electric)

Welch focused on three strategic circles and insisted that they rank within the first two globally. In 1981, Welch declared that his company would focus its operations on three strategic circles. Each of the businesses had to rank first or second in its global market. Any businesses that didn’t rank in the first two were disposed of. By 1988, its 300,000 employees generated revenues of more than $50 billion and net income of 3.4 billion.

Jack didn’t suffer fools. He got very clear about his objectives, developed a clear decision-making framework and   then executed on it.

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4. Richard Branson (Virgin Group)

Branson focused on customers and not critics. This overarching approach helped Branson make controversial decisions to enter very competitive new markets such as airlines – something analysts frowned upon at the time. Since then Branson’s led Virgin into mobile phone services, financial services and expanded to about 40 companies that span a myriad of other industries. Like Jobs, Branson let his customers priorities direct his decisions. He successfully defied ‘conventional wisdom’ and made his mark in very challenging environments.

5. Jeff Bezos (Amazon)

Jeff Bezos has an uncanny ability to understand the truth of situations and how they may change in the near future. He uses this approach to defy conventional wisdom about how things should be done, and makes revolutionary game changing decisions.  Amazon has revolutionised the way we shop over the last 20 years and continues to do so.

How to become a great decision maker

Here’s the thing about being a great decision maker: You become a great decision maker by making decisions often. It’s like anything. You get better with practice.

Sure, you’re going to screw up quite a lot at first. Every one of these people did. But they got better with practice.

Decision making is a skill that develops over time. And you can’t develop the skill in a vacuum either. You can’t spend hours agonizing over each decision and then tentatively placing your bets. if you want to join the big league then you’re going to have to take risks. Often! But the more risks you take, and the more mistakes you make the better you get at making decisions.

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You can do this

You want to become a great decision maker? You can. You want to walk into the history books? You can. Start by making decisions on the small things today. Decide on doing one small thing right now. Write it down on a piece of paper and then go and do it. You’ll be amazed at how empowered this makes you feel. It all starts from one small decision.

What are you going to decide today?

 

Featured photo credit: Richie, Robert Yarnal via flickr.com

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Last Updated on August 10, 2020

10 Things You Should Do If You’re Unemployed

10 Things You Should Do If You’re Unemployed

Regardless of your background, times today are tough. While uneven economies around the world have made it incredibly difficult for many people to find work, the recent COVID pandemic has made things worse.

Regardless of age and qualification, stretches of unemployment have affected us all in recent years. While we might not be able to control being unemployed, we can control how we react to it.

Despite difficult conditions, there are many ways to grow and stay hopeful. Whether you’re looking for work, or just taking a breather between assignments, these 10 endeavors will keep you busy and productive. Plus, some may even help push your resume to the top of the next pile.

Here’re 10 things you should do when you’re unemployed:

1. Keep a Schedule

It’s fine to take a few days after you’re finished at work to relax, but try not to get too comfortable.

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As welcoming as permanently moving into your sweatpants may seem, keeping a schedule is one way to stay productive and focused. While unemployed, if you continue to start your day early, you are more likely to get more done. Also, keeping up with day to day tasks makes you less likely to grow depressed or inactive.

2. Join a Temp Agency

One of the easiest ways to bridge the gap between jobs is to find temporary work, or work with a temp agency. While many unemployed people job hunt religiously, rememberer to include temp agencies in the search.

While not a permanent solution, you will be in a better position financially while you search for something permanent.

3. Work Online

Another great option if you’re unemployed is online work. Many different sites offer a variety of ways to make money online, but make sure the site you’re working for is reputable.

Micro job sites such as Fiverr and Upwork as well as sites that pay for you to take surveys, are all quick, legitimate options. While these sites sometimes offer lower pay, it’s always better to move forward slowly than not at all.

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Here’s How to Find and Land a Legit Online Work from Home Job.

4. Get Organized

Unemployment is an excellent opportunity to get organized. Embark on some spring cleaning, go through old boxes, and get rid of the things you don’t need. Streamlining your life will help you dive head first into the next chapter, plus it helps you feel like your unemployed time is spent productively.

Try these tips: How to Organize Your Life: 10 Habits of Really Organized People

5. Exercise

Much like organizing your life, another good way to keep yourself enthusiastic and healthy is to exercise. It doesn’t take much to get slightly more active, and exercise can help you stay positive. Even a walk around the block a few times a week can do a lot for keeping you motivated and determined. If you take care of yourself, you can make the most of this extra time.

6. Volunteer

Volunteering is an excellent way to use extra time when you’re unemployed. Additionally, if you volunteer in an area related to your job qualifications, you can often include the experience on your resume.

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Not only that, doing good is a true mood booster and is sure to help you stay optimistic while looking for your next job.

7. Improve Your Skills

Looking for ways to increase your job skills while unemployed is a good way to move forward as well. Look for certifications or training you could take, especially those offered for free.

You can qualify more for even entry level positions with extra training in your line of work, and many cities or states offer job skills training. Refreshing your resume, and interview and job skills may make your job hunt easier.

8. Treat Yourself

Unemployment can be trying and tiring, so don’t forget to treat yourself occasionally. Take a reasonable amount of time off from your weekly job hunt to recharge and rest up. Letting yourself rest will maximize your productivity during the hours you job search.

Even if you don’t have extra money for entertainment, a walk or visit to the park can do wonders to help you go back and attack your job hunt.

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9. See What You Can Sell

Another good way to bridge the gap between jobs is to sell unused possessions. eBay and Amazon are both secure sites, but traditional garage sales are a fine option too. Sell off a few video games, or some electronics, for some quick and easy cash while you figure out a permanent solution.

10. Take a Course

Much like training and certifications, taking a class can be a good way to keep yourself sharp while unemployed. Especially when you’re between jobs, it can be easy to forget this option, as most courses cost money. Don’t forget the mass of free educational tools online: 25 Killer Sites For Free Online Education

Keeping your brain sharp can help you stay focused and may even help you learn some new, relevant job skills.

The Bottom Line

While unemployment numbers are still high, there are many things you can do to better yourself and move forward. While new skills to aid your job hung might seem out of reach, there are plenty of free ways to get ahead, online and off.

Additionally, don’t forget that taking time for yourself can do wonders for keeping you productive in your job hunt. While it is a challenge, don’t give up–being unemployed can offer you extra time to better yourself, and possibly grow more qualified to find work.

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Featured photo credit: neONBRAND via unsplash.com

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