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Should Entrepreneurial Leaders Manage by Consensus?

Does managing by consensus lead to BIGG SuccessWe saw a great study about Millennials [PDF] and how they would run the business of tomorrow. The researchers had two teams create a model company.

Neither of them selected a CEO. They chose to run the company by consensus.

No one person was in charge; ideas were. The best ideas ruled.

Great concept. Too bad it won’t work.

Entrepreneurial leaders should not manage by consensus.

Should you get your people involved in every way you can? Yes.

Do you want to listen to your people’s ideas? Of course.

Should every person in your organization have a voice? Absolutely.

But management by consensus is no different than management by committee. The name may have changed but the results remain the same.

In the worst case, decisions don’t get made. So the organization flounders.

Only slightly better – when decisions do get made, it takes longer. It’s the death knell in today’s fast-changing world.

The buck has to stop somewhere. All the kumbaya has to end. Someone has to take all the information and make a decision.

The process can be democratic but the decision-making can’t.

Your people should be given the opportunity to offer their input. They should know it is heard. It may even be acted upon. When it is, they should be given recognition.

Entrepreneurial leaders should focus less on reaching consensus. It takes too long.

Focus more on building consensus. Help your people understand the “why” behind the things you do in your organization. It leads to BIGG success!

How do you build consensus?

Image in this post from stock. xchng

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A Simple Way to Make a Decision

make a decision with a coin

Do you have a decision to make? Are you unable to make decisions? Here’s a tactic we heard on the To the Lost episode of Boardwalk Empire:

Flip a coin.

Whether it comes up heads or tails barely matters. What does matter is how you feel when it’s in the air. What are you hoping for?

It’s your intuition at work. And ultimately, it can be an important decision-making tool. If you prefer, you can use a Magic 8 ball to make your next decision.

(Unless you usually get it wrong. Then you may want to use George Costanza’s technique.)

Whatever you do, there’s an important concept underlying these methods. It’s a systematic way to apply your intuition. Once you grasp it, it will help you make decisions in life.

Frame your options as a binary choice: heads or tails, yes or no, this or that, either or.

For example, let’s say you want to start a business. One question you may ask is when.

So get out your coin. Heads you’ll go into business now. Tails you’ll wait.

Flip the coin in the air. Do you feel a knot in your stomach? Which side do you want to come up?

More importantly, don’t stop there. Take the hoped-for answer and expand on it. Create a series of choices:

Part-time or full-time? Online or off? Start or buy? Independent or franchise?

Of course, the choices will be determined in part by the type of business you want to own. Step-by-step, you’re creating a decision tree.

By getting it on paper, you’ll be able to quickly see how choices now affect options later. You can weigh what you’re giving up against what you’re getting. Then you’ll be able to make a decision that leads to BIGG success!

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Decision-Making Test

By Bigg Success Staff
07-30-08

Test Yourself

decisions

How well do you understand decision making? The people at CNN Money have developed a great little quiz to help you know.

Spend 5 minutes or so finding out. You’ll see the correct answer after you answer each of the 10 questions. Then you can see your final score at the end.

Click here to take the quiz now!

Hear today's lesson and laugh on The Bigg Success Show. 

 

More Test Yourself

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(Image by nookiez)

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Success Snake Oil – Know When You’re Getting Scammed

We’re always on the lookout for good coaches. So last week, we had two phone calls that we want to share with you — one good, one bad. But there are lessons to be learned from both of them. Specifically, we want to discuss when it’s worth spending your time and money, and when you should run … and run fast!

  • If they don’t live up to their promises, even in the sales call …. run!
  • In what turned out to be the bad call, we were promised a one-on-one conversation with an internet expert. It turned out to be nothing but a scripted sales call.

    The good call, on the other hand, was a conversation. It was exactly what we were promised it would be … and more! It was personal. He had done research on us and our web site. It was what coaching should be.

  • If there’s lots of conversation, but almost no information … run!
  • With the bad call, we’re still not sure how their program works. Even though we were on the phone for about an hour. Details were sketchy. Answers to questions were vague. The most popular answer seemed to be, “That’s proprietary.” We weren’t given any details about the credentials of our would-be coach.

    The good phone call was completely opposite. We know exactly what we’re going to get, after only thirty minutes. We were given advice that we’re already using. And the price tag is much less.

  • If you’re told you have to make a decision now … run!
  • We were immediately cajoled with the bad call to make a decision on the spot. We told them that we don’t operate that way. They pressed on. Our experience shows that the best decisions are thoughtfully made after consideration – not an on-the-spot emotional decision. If you’re being asked to make a decision immediately, your best response is usually going to be “no”.

    Our coach on the good call didn’t ask for an immediate decision – in fact, he is so confident in what he has to offer, he suggested that we should not make an immediate decision. However, he still gave his advice freely!

  • If they’re playing mind games with you … run!
  • Build you up, tear you down, wear you out. That was the process we experienced with the bad call. Don’t fall for it.

    We were offered words of encouragement with the good call. We were also given some constructive criticism, which was very helpful. Constructive criticism is great; just tearing you down to make a sale is not. If you don’t understand the difference, reread the first three points!

We could go on, but these are the highlights of our discussion. Hopefully, you’ll find these helpful the next time you’re trying to buy something.

Our quote today is by Thomas Jefferson.

“Do not bite at the bait of pleasure, ‘til you know there is no hook beneath it.”

So don’t get hooked … if it smells fishy, it probably is.

Next time, we get a visit from Santa. Until then, here’s to your bigg success!