Dogs making bad decisions, like getting a head stuck in a cat door, now that’s understandable. But managers and leaders have something dogs don’t have, the “ability to reason.” At least that’s what I learned in biology class.
A few weeks ago I watched Jamie Dimon’s interview on C-SPAN after Joe Leddy recommended it to me. Dimon is the CEO of JP Morgan Chase and is a great example of a competent leader. Given how most of us feel right now about leadership incompetence, Dimon is a breath of fresh air. Even if you only watch a few minutes, you will quickly see how Dimon oozes common sense.
Common sense, a commodity in short supply these days, is at the center of good decision-making. Dimon in his interview offers five suggestions for making good decisions and I have added five other tips I use.
Ten tips for making good decisions.
- Never make a decision when you are angry. (Dimon)
- Never make an important decision on a Friday. Wait until Monday. (Dimon)
- Never make a decision when the wrong people are in the room. (Dimon)
- Never make an important decision when you have the wrong people on the team, execution will fail. (Dimon)
- Never promote someone you wouldn’t work for. (Dimon)
- Don’t promote someone into a leadership role you wouldn’t want at your Thanksgiving table. (Ryan Mountain)
- Don’t make a decision when your choice “is the lesser of two evils”; find another solution. (Steve)
- Never make a decision solely because it is the lowest cost. (Steve)
- Never make an important decision mostly because you like the person presenting. (Steve)
- Never make an important decision when you lack information and are up against the clock. Get a new clock. Sometimes making no decision will get you a better outcome. (Steve)
I hope these tips help you or someone else you know make better business and leadership decisions.