Make Lemons from Lemonade – How to Rebound from a Poor DecisionAdministrative Assistant Resource
June 19, 2013 — 1,837 views
Every businessman or industry leader is capable of making bad decisions from time to time. It is considered to be a professional risk. Higher up the chain of command and bigger the company, it is more likely that the bad decisions made are going to have serious consequences. However, small companies and businesses are equally likely to suffer serious consequences when poor decisions are made. There can be a number of reasons causing the poor decision. For instance, incomplete knowledge of a situation, hunger for success, spur of the moment calls and risks, as well as bad partnerships are all possible causes of making poor decisions.
Tips for Recovering From a Poor Decision
Being a successful entrepreneur, businessman, or industry leader requires you to make sure that you recover from any poor decision with good decisions that cover up for it. While hindsight is always 20/20 vision, being able to look back and consider any poor decisions you have made over the course of a career and accept them as learning experiences will serve you well when building your own professional flight plan.
Recovering from any bad decisions you have made require you to, first and foremost, accept to yourself that you had made a mistake. Once this has transpired, you should avoid blaming others while also making sure that you do no blame yourself too much as this could easily lead to less focus on the problem at hand.
Set a plan to correct the problem and lay out timelines about how you are going to go about it. Make sure you follow these timetables as much as possible. Also, remember that these tough times in your life are only helping to mould you into a more focused and stronger individual.
How to Turn the Poor Choices into a Learning Mechanism
Turning poor choices into a learning mechanism will go a long way into helping you make the best out of every situation – whether your poor decisions have been at the heart of it, or whether the situation has risen out of pure misfortune. It is important to remember that you do not necessarily need to learn from your own bad choices. History shows us a number of examples where people have made bad choices as a result of internal or external factors. Understand the situation and think of all the possibilities when you are faced with tough decisions. Do as much research as possible whenever faced with a decision and avoid taking spontaneous decisions. Always look for an external opinion, as people detached from the situation are always likely to take a whole different view of it.
All in all, decisions are generally made with the contribution of four main characters – the gut instinct, data available, information, and knowledge. Get as much information as possible – this will turn your gut instinct into an informed opinion – before taking any drastic steps. Experts recommend that ascertaining the risk/rewards ratio of a particular project is essential in order to avoid making poor decisions in the future. Again, do not let poor decisions break your spirit. Even the greatest individuals have made poor decisions – it is their ability to bounce back with greater ones that have defined them through the ages.