On this episode of Founders Thoughts, we dive into the nuances of making difficult decisions as a CEO.
As the CEO of a company, your number one day-to-day job is making decisions. It could be regarding the product direction, cash flow, people-related, strategic directions, and so on.
In most cases, your team might provide many insights and data points to help you make the decisions, but the buck stops with you.
While minor decisions with short-term impact are relatively easy, the bigger ones-those that affect your cash reserves, team, or company culture-can be daunting. You might find yourself hesitating or postponing these tough calls.
I have dealt with these situations by visualizing the long-term impact. Often, difficult decisions make sense when you consider their potential benefits a year or even a decade down the road.
Another useful strategy that worked out for me was to lean towards the harder choice when faced with two choices. The easy way out might seem attractive initially, but the more challenging decision is often the right one in the long run.
There are more details in the video; please watch it and share your feedback and experience of how you handled decisions.
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