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Better Decision-Making Leads to Improved Business Operations

June 06, 2014

By Ed Silverstein - Virtual PBX Contributor

Making business decisions can be a difficult process. But there are ways to improve a company’s decision-making. Sometimes, even virtual PBX providers need to reevaluate how they’re making business decisions.


Remember that better decisions lead to more economical and efficient operations. And they can also improve a company’s bottom line.

To understand how this works out, Mike Michalowicz, who often considers such issues, offers some tips in a Nextiva blog post.

One tip is the 10-10-10 rule. As explained by Suzy Welch, the former editor of the Harvard Business Review, the decision should be viewed on how it will impact the future in different time intervals: 10 minutes, 10 months, and 10 years. Often, by thinking long-term, current challenges and difficulties can be overcome, and current struggles may not seem as important. Long-term will also help a business focus on issues that relate to growth.

Another option is come up with a stop-loss plan that relates to results.  Stop-loss plans makes businesses evaluate decisions on “predetermined, concrete parameters, rather than on the results you’re hoping for,” Michalowicz said.

Still another option is employing split testing. Split testing lets a business try out two options before deciding on just one. There is time for comparison. 

Another recommendation is to undertake something only after doing thorough research.  For instance, see if a rival business had tried something previously – and found it had little success – before spending a lot of time developing it at your own company.

And one last tip is not to make a decision being guided by emotions. Think about something for a while. Time can help business decision-makers think more rationally.

Each of these options can be applied to decisions using Voice over Internet Protocol (VoIP) and virtual PBX solutions. By making better decisions, there will be wiser use of the technology, and it will benefit the business in the long run.




Edited by Alisen Downey

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