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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 October 13, 2020

How to Get Promoted When You Feel Stuck in Your Current Position

How to Get Promoted When You Feel Stuck in Your Current Position

Have you been stuck in the same position for too long and don’t really know how to get promoted and advance your career?

Feeling stuck could be caused by a variety of things:

  • Taking a job for the money
  • Staying with an employer that no longer aligns with your values
  • Realizing that you landed yourself in the wrong career
  • Not feeling valued or feeling underutilized
  • Taking a position without a full understanding of the role

There are many other reasons why you may be feeling this way, but let’s focus instead on learning what to do now in order to get unstuck and get promoted

One of the best ways to get promoted is by showing how you add value to your organization. Did you make money, save money, improve a process, or do some other amazing thing? How else might you demonstrate added value?

Let’s dive right in to how to get promoted when you feel stuck in your current position.

1. Be a Mentor

When I supervised students, I used to warm them — tongue in cheek, of course — about getting really good at their job.

“Be careful not to get too good at this, or you’ll never get to do anything else.”

This was my way of pestering them to take on additional challenges or think outside the box, but there is definitely some truth in doing something so well that your manager doesn’t trust anyone else to do it.

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This can get you stuck.

Jo Miller of Be Leaderly shares this insight on when your boss thinks you’re too valuable in your current job:

“Think back to a time when you really enjoyed your current role…You became known for doing your job so well that you built up some strong ‘personal brand’ equity, and people know you as the go-to-person for this particular job. That’s what we call ‘a good problem to have’: you did a really good job of building a positive perception about your suitability for the role, but you may have done ‘too’ good of a job!”[1]

With this in mind, how do you prove to your employer that you can add value by being promoted?

From Miller’s insight, she talks about building your personal brand and becoming known for doing a particular job well. So how can you link that work with a position or project that will earn you a promotion?

Consider leveraging your strengths and skills.

Let’s say that the project you do so well is hiring and training new entry-level employees. You have to post the job listing, read and review resumes, schedule interviews, make hiring decisions, and create the training schedules. These tasks require skills such as employee relations, onboarding, human resources software, performance management, teamwork, collaboration, customer service, and project management. That’s a serious amount of skills!

Are there any team members who can perform these skills? Try delegating and training some of your staff or colleagues to learn your job. There are a number of reasons why this is a good idea:

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  1. Cross-training helps in any situation in the event that there’s an extended illness and the main performer of a certain task is out for a while.
  2. As a mentor to a supervisee or colleague, you empower them to increase their job skills.
  3. You are already beginning to demonstrate that added value to your employer by encouraging your team or peers to learn your job and creating team players.

Now that you’ve trained others to do that work for which you have been so valued, you can see about re-requesting that promotion. Explain how you have saved the company money, encouraged employees to increase their skills, or reinvented that project of yours.

2. Work on Your Mindset

Another reason you may feel stuck in a position is explained through this quote:

“If you feel stuck at a job you used to love, it’s normally you—not the job—who needs to change. The position you got hired for is probably the exact same one you have now. But if you start to dread the work routine, you’re going to focus on the negatives.”[2]

In this situation, you should pursue a conversation with your supervisor and share your thoughts and feelings to help you learn how to get promoted. You can probably get some advice on how to rediscover the aspects of that job you enjoyed, and negotiate either some additional duties or a chance to move up.

Don’t express frustration. Express a desire for more.

Present your case and show your boss or supervisor that you want to be challenged, and you want to move up. You want more responsibility in order to continue moving the company forward. Focus on how you can do that with the skills you have and the positive mindset you’ve cultivated.

3. Improve Your Soft Skills

When was the last time you put focus and effort into upping your game with those soft skills? I’m talking about those seemingly intangible things that make you the experienced professional in your specific job skills[3].

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Use soft skills when learning how to get promoted.

    According to research, improving soft skills can boost productivity and retention 12 percent and deliver a 250 percent return on investment based on higher productivity and retention[4]. Those are only some of the benefits for both you and your employer when you want to learn how to get promoted.

    You can hone these skills and increase your chances of promotion into a leadership role by taking courses or seminars.

    Furthermore, you don’t necessarily need to request funding from your supervisor. There are dozens of online courses being presented by entrepreneurs and authors about these very subjects. Udemy and Creative Live both feature online courses at very reasonable prices. And some come with completion certificates for your portfolio!

    Another way to improve your soft skills is by connecting with an employee at your organization who has a position similar to the one you want.

    Express your desire to move up in the organization, and ask to shadow that person or see if you can sit in on some of their meetings. Offer to take that individual out for coffee and ask what their secret is! Take copious notes, and then immerse yourself in the learning.

    The key here is not to copy your new mentor. Rather, you want to observe, learn, and then adapt according to your strengths.

    4. Develop Your Strategy

    Do you even know specifically why you want to learn how to get promoted? Do you see a future at this company? Do you have a one-year, five-year, or ten-year plan for your career path? How often do you consider your “why” and insure that it aligns with your “what”?

    Sit down and make an old-fashioned pro and con list.

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    Write down every positive aspect of your current job and then every negative one. Which list is longer? Are there any themes present?

    Look at your lists and choose the most exciting pros and the most frustrating cons. Do those two pros make the cons worth it? If you can’t answer that question with a “yes,” then getting promoted at your current organization may not be what you really want[5].

    The two most important days in your life are the day you are born and the day you find out why. —Mark Twain

    Here are some questions to ask yourself:

    • Why do you do what you do?
    • What thrills you about your current job role or career?
    • What does a great day look like?
    • What does success look and feel like beyond the paycheck?
    • How do you want to feel about your impact on the world when you retire?

    Define success to get promoted

      These questions would be great to reflect on in a journal or with your supervisor in your next one-on-one meeting. Or, bring it up with one of your work friends over coffee.

      Final Thoughts

      After considering all of these points and doing your best to learn how to get promoted, what you might find is that being stuck is your choice. Then, you can set yourself on the path of moving up where you are, or moving on to something different.

      Because sometimes the real promotion is finding your life’s purpose.

      More Tips on How to Get Promoted

      Featured photo credit: Razvan Chisu via unsplash.com

      Reference

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