Why Making Fast Decisions Quadrupled My Business This Year
“So are you ready to order now?”
It was the third time the waitress came around to our table. I could feel my cheeks turning red as I stammered, “Give me just five more minutes, I promise.”
True story, and we’ve all been there. But what about when it’s not a decision between rice or french fries, but rather a yes or no decision on something much more significant? Investing in something for your business. Investing in yourself?
Three years ago I had a tab open on my browser for weeks. It was for a membership program that cost $300/month and had all the necessary SEO training I needed to get my business started. I just couldn’t bring myself to pay for the damn thing. I believed in it, I had the money to pay for it, but something held me back. This was just when I moved away from home, and so out of desperation at 3 AM one night, I clicked purchase. If I didn’t make that decision three years ago, this blog and my business would not exist today, and I would be stuck in the same situation I was in then.
The impact that any decision you will have is directly correlated to the monetary cost of the decision (think insurance, training, etc). The same is true for the amount of effort required after the initial investment is made (think exercise, taking action).
This isn’t just a rant about “taking action”. Everyone takes action every day. Saying “maybe” is even taking action. This is about making faster decisions which are inherently smarter.
The Self-Belief Paradox
Take a look at the last five payments you’ve made in your bank account. For me it’s: gym membership, employee, food, food, software developer. The food cost the least and took no effort to eat (yum!). The gym membership was a little pricey; I had to think about signing for a year but I did on the spot. The effort for that is, well, significant, and pretty much never ends. Then there’s the people I pay in my business to get things done. Obviously the highest priced of the five, and the most effort and time required to work with them, train them, etc. But the return? The return can literally be limitless in the right circumstances.
However that also comes with a high risk. They could suck and produce awful work, run off with my money, or steal my ideas. But I take the risk anyways. Not because I can afford to take a loss, but because every single time I have taken a risk I’ve benefitted. Even if it doesn’t work out the way I want it to, at least I got an amazing lesson out of it on what to do next time.
So how does this relate to making fast decisions? Well there was something in those scenarios I didn’t believe in that was holding me back. Either I didn’t believe in the thing I’m investing in, or I didn’t believe in myself and that I can actually make an ROI with it.
Then you get stuck debating with yourself for weeks like I did, until desperation forces you to pull the trigger or you retreat to being comfortable and just getting by. By making fast decisions, you are forced to leave your comfort zone and grow, and by making really fast decisions, you can completely bypass the self-belief paradox altogether. You literally don’t have time to start pondering on whether or not it’s the right fit for you. It was always the perfect fit for you (just ask yourself if you would take it if it was free), you just didn’t believe that you could, should, or deserved to get the results that it promised.
Boom, you’re card has been processed, you’ve done it, and now you have to commit to making whatever it is work. By the way, the decision can be a “no”, as long as it is a fast decision too. Heck, I even prefer a “no” over a “maybe”. I’ll take a “no” any day as at least I know I won’t have to sit there pulling teeth and I can go back to watching cats doing backflips on YouTube.But for the sake of you and your business, never give a maybe. Here’s why.
I’m not a huge believer in the law of attraction. In fact I’m completely against it as a principle on its own. However I do believe in attracting things actively. If I hustle and make money, I will attract attention, women, business opportunities, and so on. The same goes for confidence and how people react/how they perceive you. If I make fast decisions throughout the day, then the prospect I am on the phone with will sense that I am no-nonsense type of guy and he will take me and my sale more seriously. In that sense I will attract a fast decision from him. If I make slow decisions…well you get the point.
The best part is I will actually let this be known without shame. I will tell a prospect who’s on the fence: “How do you expect your customers to make fast decisions with your product if you can’t make a fast decision here?” This is why I give an incentive if they sign right then and there. I don’t let them think about it, and the pros are endless. I don’t have to spend weeks following up with them, I only work with great people, and my business grows faster because of it.
So how do you do start making fast decisions yourself? Surely there must be some stuff you have to think about!? Ironically, the things I take the longest to decide on now are things under $20. Something costs $5,000 or more but can be a great investment? I’m on board right away. Once again, not because I have the financial resources to take the hit if it’s a loss, but because I know that if I even had to think about it, it probably had some benefits for me.
How To Start Making Fast Decisions For Yourself
Here’s the line of questioning and process you can go through to make a fast decision, which shouldn’t take more than 20 seconds for your brain to compute. Don’t forget- the decision can be a ‘no’, and many times it’s better off being a no if it’s not the right fit.
- Is this an investment in a skill or tool that I believe will provide a potential ROI or is it a depreciating asset (car, food, lightsaber, etc.)? Has it worked for others?
- Is this going to save me time by not having to do something I am already doing, or by learning how to speed up processes? Will the time I save allow me to generate enough cashflow to cover that expense, or in that time allow me to eventually learn/build up to that cashflow?
- Do I have other commitments that take priority? Do I have the time/energy/willpower that’s required to put into this to see a return?
- Do I have the financial wherewithal to invest in this? Will I put myself or others in jeopardy financially if I do this? If I go into debt for this, am I confident that I can pay it back on time with other means?
I’ve been on hundreds of sales calls in the past couple of years, and I won’t let the person get away with an objection (saying maybe) until I’ve run through those 4 questions practically for them. Generally they are pre-qualified on the first three, but with the fourth I don’t want anyone being in trouble and I will tell them that we aren’t the right fit for each other.
Are You Going To Commit?
Making fast decisions will change your life as it has mine. I take greater risks, feel more confident in business, and I can walk into any situation knowing things will work out because I will have at least moved forward either way. Money follows speed, not perfection.
Now it’s your turn. Don’t believe me that this stuff works? Make a commitment for the next week that anything you come across that requires a decision, that you will make it on the spot without a maybe or having to think about it. Erase that from your vocabulary, and comment below letting me know you’re going to try this and what your results are.
Come on, it’s not that big of a decision. 😉