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Making the Right Decisions


Life is full of decisions. Not all of these decisions carry the same level of importance, but nevertheless, we are faced with decisions at just about every turn. In business, just like in life, people have to make choices every day. Some of these decisions are simple and don’t have earth-shattering implications. On the other hand, some business decisions are extremely critical and will play a major factor in determining the success or failure of your company. When a person faces these kinds of decisions that is when it becomes extremely important for him or her to determine what the right choice is. Of course, any decision maker in the business world is already aware of this fact. The real question is then, how do you decide what the right decision is? How do you know that you are making the right decisions?

Stick to Your Decision

Joe Lacob, the majority owner of the NBA world champion Golden State Warriors, knows a thing or two about making the right decisions. Joe is not only a successful NBA franchise owner, but he is also a partner in a very successful venture capital company: Kleiner, Perkins Caufield & Byers, which has mainly focused on investing in startup companies. I’ve spent some time with Joe personally on several occasions and on one such occasion when he visited me for my weekly radio program, American Dreams, Joe explained to me what he believes is the one of the most important aspect of making the right decisions. Joe said the key to making decisions, whether you consider yourself an analyzer or an operator is to make your decision and stick with it.

You Have to Make Your Success Happen

Because Joe’s investment company primarily invests in startup companies, they face a lot of risks. That’s because it is not always obvious how they should move forward and in whom they should invest. He said there is always a lack of data when you are dealing with startup companies, which means the information you have will never be perfect. That means you will first have to get comfortable with those circumstances and accept them as they are. However, despite those circumstances the important thing is to make your decision and then stick to it. Joe said: “You then have to make a decision and go. Don’t look back and make it happen. It’s about making it happen. It’s not necessarily about if it’s going to happen on its own or somehow it’s going to happen because of this influence or that influence. You have to make it happen.”

Control Your Own Fate

Joe went on to tell me that you have to be right, or in other words that you have to set yourself in the right direction but that you can see things become successful if you work hard enough and just keep pushing until you achieve what you are trying to achieve. So according to Joe, it’s not so much about the decisions you make, but how much effort you put into making those decisions successful after you’ve set your course. Success won’t come by chance. You have to be the driver of your own success.

The post Making the Right Decisions first appeared on Advisors to the Ultra-Affluent – Groco.



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