309: The Business Decisions You Should Never Make Too Quickly

Speaker A: You're listening to the Black to Business podcast, an educational podcast providing black entrepreneurs with the tools and resources to start and grow their businesses. We chat with vetted black entrepreneurs, thought leaders and business owners as they provide tips and resources to help take your business to the next level. I'm your host, Monique T. Marshall. Hello and welcome to the Black to Business Podcast. I'm your host, Monique T. Uh, Marshall. One thing that entrepreneurship will do is it will convince you that you need an answer by today. Not next week, not after you had a chance to think it through, but today. Uh, you start to feel like you have to always decide something. Like there's always this sense of urgency, like, should I keep doing this? Should I let this thing go? Should I say yes? Should I say no? Should I just stick with the plan or try something different? And sometimes the pressure to make the decision feels a lot bigger than the decision itself. And I think that that's something that we don't talk about enough as entrepreneurs. Because making decisions is a part of running a business. Nobody gets around that. But you have hundreds of those decisions. Sometimes they're small decisions, sometimes they are, uh, decisions that can complet change the direction of your business. And when you get to that point, the challenge isn't making decisions. The challenge is, in fact, making them from the right place. And I've noticed that some of the decisions that we regret the most usually have one thing in common. We've made them because we wanted, uh, relief. Relief from being frustrated, relief from being disappointed or not knowing what was going to happen, but also relief from feeling like things, things weren't moving fast enough. And making a decision felt better than just sitting there with a sense of uncertainty. And if you've ever looked back and thought, h hm, I probably moved too fast on that, or I probably should have given that a little more thought and time, or even I probably didn't have all the information yet. Let me tell you that you are not the only one. Every entrepreneur has moments where they're tempted to make a big decision in the middle of a hard moment. So you're like in a rock and a hard place. And sometimes that is the right move to make that decision then, but a lot of times it isn't. And that's what I think. Um, one of the most underrated leadership skills is knowing when not to rush yourself, knowing when a decision needs another conversation, maybe another week or, or another look over, and also another piece of information. Because waiting isn't always procrastination. Sometimes it's Wisdom. And that's what I want to talk about today. We're talking about the business decisions you should never make too quickly. And now, uh, I'm not saying that you shouldn't make the decision, but sometimes the timing of a decision can be just as important as the decision itself. So without further ado, uh, let's get into it. And with that being said, you know, one of the things that I've also noticed is that some of the biggest decisions, business decisions, don't always happen, like, weeks after you've had the time to think them through. Sometimes they might happen on a random Tuesday after something just irritated your spirit. And I know that might sound funny when it comes to, like, business, but if you think about it, something throws your day off in business. Maybe a conversation might have not gone, uh, the way that you hoped or something that you've been working on. It feels like it's moving m slower than you expected it to, and it's taking a lot more time than you expected it to take. So you're already dealing with a lot, and then all of a sudden you're thinking, you know what? Maybe I just need to do X, Y, and Z. And that's usually how it starts. So one thing I want you to do before making any major business decision is very simple. I want you to give it a minute. Like, seriously give it a minute. Give yourself a little room before you decide what happens next. Because we're so used to just. I feel like when we talk about, like, business talk, we so used to like feeling like every decision needs an immediate answer that we rarely stop to ask whether the situation actually requires one. Like, sometimes it does, and a lot of times it doesn't. And so I've had moments where I was convinced that I needed to change something in my business. But a couple days later, I look at the same situation, and I'm thinking, I'm so glad I didn't make that decision. And nothing about the decision or situation had changed. I had. I wasn't as frustrated, I wasn't as tired. I wasn't trying to solve this feeling or a feeling anymore. And I think that this is something that as entrepreneurs, we kind of need to talk about a little bit more. Because sometimes we're trying so hard to get rid of the discomfort more than we're trying to solve the actual problem. And those are the moments when we make decisions we'll probably have to revisit later. So before you do change something, before you send the email, before you might walk away from the idea or commit to something new. Pause, ask yourself, does this decision need to be made today? And you'd be surprised how often the answer is no. So giving yourself a little space, it doesn't mean that you're avoiding the actual decision. It just means that you're giving yourself a chance to make it with a clearer head. And I think that's one of the most underrated habits you can build as a business owner. Not making decisions faster, but making them better. Now, once you give it a minute, the next thing I want you to look at is the urgency around the decision. Because business will have you thinking, everything needs an answer right now. So somebody wants a response today. An opportunity maybe has a quick deadline, or maybe a client needs something sooner than expected. And I think that this is where also a lot of entrepreneurs have to be careful, because urgency can make something feel more important than it actually is. So just because something, quote, unquote, seems like it's a big deal, it doesn't mean it's something that you need to rush into a decision and a decision that you really especially haven't thought through. So just because something feels time sensitive, it doesn't automatically mean it's aligned with what you're building. And that's the part I really want you to pay attention to. Sometimes urgency, of course, is valid. Sometimes you do need to respond to things quickly, or there might be a tight deadline and you have to make that call. But a lot of times, urgency is just this type of pressure that's really just dressed up as a priority. And if you're not careful, you will start making decisions based on who is applying the most pressure instead of what actually makes sense for the business. And you say yes, because they need an answer now. And you might agree to something because you don't want to miss the chance. And you might even rush into something because it feels like, okay, if I don't do it right away, I'm going to be behind or I'm going to miss out on this thing. And then what happens is a week later, you're looking at it like, why did I even agree to this? And I say this because I have been so guilty of this, and it has served me so much to just, uh, slow down. And so that's why before you make a decision under pressure, I really want you to start asking yourself some questions like, take that time to slow down. So it's important to ask yourself, is this actually important or does it just feel urgent right now? Because those are not always the same thing. So Some decisions feel urgent because they're connected to someone else's timeline. And some decisions feel urgent because you're afraid the opportunity won't come back around. And some decisions feel urgent because you don't want to disappoint somebody. And that is a big one, especially in our community, like, we always are, feeling like, okay, I don't want to disappoint this person. I know they're depending on me for this thing, so let me make sure I get back to them. And that is not the way to operate. Because you can't forget yourself. You can't forget your goals. You can't forget what you signed up to do for your business in the midst of you trying to commit to this thing or have this sense of urgency for somebody else's old. So I want you to take the time to slow down and not rush. Because sometimes we rush because we're so tired of just, like, thinking about it. So we might want, if you got an open loop, you might want to close that loop. Or we want relief of saying, okay, that's done. But done doesn't always mean decided well. So this is where you slow the moment down and ask, what happens if I give this 24 hours? What happens if I ask for more details? What happens if I say, okay, let me look at my schedule and get back to you? And also, what happens if I don't let somebody else's urgency become my emergency? And that question alone can save you from so, so much. Because when you give yourself room, you can see things a lot more clearer and you can ask better questions. You can also check your capacity and figure out if this actually fits where the business is going. And you can decide from this grounded place instead of, like, a rushed one. And that's the goal, to not move slow just for the sake of moving slow. But the goal is to stop letting pressure make decisions for you. Because urgency will always be around in business. There will always be somebody who needs something, or there's always this opportunity attached to a deadline. But every urgent thing doesn't deserve the same level access to your attention, your energy, or your business. So before you say yes, before you switch up the plan, before you commit to something that's going to require more of you than you realize, think about it and ask, is this important or is this just urgent? And that one question can help you make a much better decision. Okay, now, another decision I think entrepreneurs make too quickly is deciding that one experience represents the whole picture. So this shows up a lot more than people realize so maybe you had one bad experience and suddenly you're ready to change the way that you've always done something. So maybe it's one difficult client, and now you're thinking, you know what? I'm done working with clients like this. So now that one client, you let that one client mess it up for everybody. Or you might have gone to one networking event and it doesn't go the way that you hoped it would. So now you decided, you know what? Networking just isn't my thing. Or maybe one marketing idea doesn't get the response that you expected, so you just cross it off the list and you move on. And we do this all the time. One experience, it just turns into, like this rule. And that is a dangerous place to make decisions from. Because one thing I've learned is that patterns deserve decisions, moments deserve observation. And I want to say that again because I think it's also worth remembering. Patterns deserve decisions, and moments deserve observation. So one moment can get your attention. A pattern is what tells you whether something actually needs to change. And that's why I think it's important to ask yourself, has this thing happened enough times for me to call it a pattern? Or am I reacting to a situation? Or one situation that happened to catch me on a bad day? And those are two different places to make a decision from. And you can think about it this way. So if one customer gives you a suggestion that's worth listening to, if 20 customers are pointing out the same thing, now you've got something to investigate. So if one event doesn't go well, you don't automatically conclude that you're bad at hosting events. You look at what happened, you make improvements, and then you see what happens the next time. And that's how you collect enough information to make a good decision. I think one of the easiest ways to create unnecessary instability in your business is to keep changing your approach every single time something doesn't go the way that you expect it. Because when your business never gets the chance to benefit from consistency, everything is all always changing. Everything is always being reworked. Everything is also always starting over. So at some point, it's going to become hard to tell what actually wasn't working and what simply didn't have enough time to prove itself. And that's why I want you to slow yourself down before making the decision based on one experience. So think about it in an act. Is this a pattern or is this just a moment? And that question has a way of bringing you back to reality. Because if it's a pattern, now you have something to solve. And if it's just a moment, you probably need more information before you decide what comes next. And that's really what good decision making looks like. Not reacting to every single thing that happens, but giving yourself enough time to recognize the difference between an exception and a trend and moving on. You know what else I think is interesting? And that sometimes the decision itself isn't actually solving the problem. It's just giving you a break from how we're feeling. And I think that's what's easy to miss. Because when you've been dealing with something or you've been carrying something around for so long, any decision can start to feel like the right decision. You finally make up your mind, you finally do something, and you finally close a loop. And that's a lot of relief. But relief and resolution aren't always the same thing. So I've seen entrepreneurs make decisions simply because they were just tired of thinking about wasn't the fact that they reached the best conclusion. It was just the fact that they just wanted to stop dealing with it. And I think we've all done that in one way or another. So you're tired of going back and forth, you're tired of wandering, you're tired of second guessing yourself. So you decide, at least now you can move on. But every decision deserves more than just, I'm just over it. And that's why I think it's important to check in with yourself before you make a big move. And checking in with yourself is asking yourself, what problem and I am I actually trying to solve? Because your answer might surprise you. You might think that you're trying to solve a business problem when really you're trying to solve a frustration problem. So you're trying to solve disappointment, uncertainty. And you're also trying to solve the feeling of wondering whether you're making the right move. And those feelings are very valid because every entrepreneur experiences them. But feelings aren't always the best place to make business decisions from. And I say that I love this quote that somebody I saw online said. They said, um, they said, like, f your feelings, stick to the plan. And I actually have that on my wall in my room. It's like when I'm feeling like a little bit like down or like feelings are like all over the place. I'm like, you got to just stick to the plan, Monique. And I've noticed that when we're feeling uncomfortable, it's almost like any change, anything, just any sort of light starts to feel like relief and progress. Changing the plan in this stage, it, like, feels like, okay, I'm doing the right thing, or I'm doing the right thing, because you're starting to feel, like, this feeling of excitement. And it's almost like you're in a space of, like, saying yes, it's. It's giving you relief. And also saying no, it's going to give you relief, too. And either way, you're, like, going to feel like you've done something. But I want to remind you that activity and progress are not the same things, because sometimes the most productive thing that you can do is stay with the question a little bit longer. So gather a little bit more information or have one more conversation, or maybe even just look at your numbers one more time and give yourself the opportunity to decide from confidence instead of exhaustion. Because once you make a decision, you're going to have to live with that decision. And you might as well make sure that you're solving the right problem. And that's really what it comes down to. Don't let the need to feel better become the reason you make the decision. Let the decision come from knowing that you've given yourself enough time, enough thought, and enough information to move forward with confidence. Got it. And one thing that has also helped me make better business decisions over the years is really asking better questions before I answer the big ones. And I think a lot of us get so focused on figuring out what we're going to do that we never really stop to ask whether we have everything we need to make that decision in the first place. So we just want the answer, should I do it or should I not? Should I move forward or should I not? Should I keep going? Or should I just let this thing go? But I've learned that better decisions usually come from better questions. So, for example, instead of asking, what should I do? I might ask, what information am I missing? And that question has saved me more times than I can count, because every now and then, I'll realize I don't actually need a decision yet. I just need another conversation. I need to look at my numbers one more time. I need to hear from people this decision is going to impact. And I also need to give something another month before I know whether it's working. And that's very different from feeling like I have to make a decision today. And so another question I like asking is, what am I assuming right now? Because assumptions have a real funny way of filling in the gaps. So we assume people aren't interested. We assume an opportunity won't come around again, and we Also assume we already know how something is going to play out. And sometimes we are right. But a lot of times we're making decisions based on something that we haven't actually confirmed. And that's why I think it's really worth slowing down and doing so long enough to separate what you know from what you think you know. One more question that has helped me over the years is, what would make this decision easier to make? And sometimes the answer is more information. Sometimes it's another conversation. Sometimes it's giving yourself a little more time. Whatever the answer is, you've just identified your next step so you don't have to sit there and feel stuck. You know what you need to go find, because business rarely gives us complete certainty. So if you are waiting until every question has been answered, you're probably going to be waiting for a long time. What you can do is make sure that you've been thoughtful, you've looked at the situation from more than one angle, and you've also challenged your own assumptions. And that's a much better place to make a decision from. And I believe truly that that's one of the habits that separates stronger leaders over time. So they don't always have the perfect answer. They've just learned that good decisions usually begin with good questions. And sometimes just asking yourself a few more questions today can save you from making the decision that you'll spend the next, say, six months trying to undo. And that's not what we want. So if there's one thing I hope that you take away from this conversation is this. Give yourself permission to slow down before you make a decision that could change the direction of your business. And I say that, and I know that's much easier, easier said than done, because business can make you feel like every decision is urgent. Like, you have to figure it all out today. Like, if you don't make a move right now, you're going to miss out on the opportunity. But that is not always true. Some decisions just take a little bit more thought, a few more questions, a little more information, a little more time. And I think that's something that every entrepreneur gets better at with experience. You start realizing that every feeling doesn't require response. Every frustrating day isn't going to require a new plan. And every challenge doesn't require this complete reset. Sometimes the best thing you could do is just pause long enough to make sure that you're solving the right problem, because once a decision is made, it usually sets other thing into motion. So it's going to affect your time, it's going to affect your money, your team, your customers, and it's also going to affect where your business goes next. And that's why these moments are so important. So this week, I want you to focus on the fact that before you make the next big decision, ask yourself a few questions. Am I reacting or am I responding? Do I have enough information? Have I seen a pattern, or am I responding to a moment? And also, what else can I do? Or what else do I need to know before I decide? And those questions might not always give you the answer immediately, but they'll usually point you in the right direction. And I think that's what good leadership looks like, not having all of the answers, but having the patience to make thoughtful decisions instead of worse ones. Thank you so much for tuning in to another episode of the Black to Business podcast. As always, I appreciate you spending part of your day with us and keep building boldly, keep pushing the culture forward. And I can't wait to see you back here next week. Later.