Successful Entrepreneurs Make Strategic Decisions

Visionary Entrepreneurs create long-lasting ventures and fortunes. 

Strategic Decisions 

A decision is the power to choose. Being poor or wealthy is a result of choice. The power of a decision is in your hands, and you are everything. You can choose to be successful or not. If success is the result of a decision, then sustainable success is a result of strategic decisions

      Strategic decisions are life-changing decisions with a positive impact on you and society. Strategic decisions are long-term decisions. The decisions that are considered where the future planning is concerned. It takes into account the business or life mission and vision. It deals with business Growth. These are decisions that impact your vision daily, in the short run and the long run. Positive thinking and big ideas are vital components of strategic decisions. These decisions are built-in with reliable, accurate, and adequate information. 

 “The man who is prepared has his battle half fought.”

Miguel De Cervantes | Spanish Novelist

 The Creative Power of Strategic Decisions

Once you have a prepared strategic decision, you have accomplished fifty percent of your success journey. Strategic Decisions influence what you do, think and desire results. If you make a poor decision, you get poor results. But if you make a strategic decision you get the strategic results because it considers the future by taking into account the business mission and vision. Strategic Decisions make your business grow and more sustainable. 

Most successful people in the world who have had sustainable success for more than 3, 4, 10, and more decades attribute their success to strategic decisions. Strategic decisions ensure the sustainability of your success in the short run and long run. Every decision you make in your life should be informed and strategic decisions. The world today needs sustainability for every initiative from think tanks and entrepreneurs. Initiatives with sustainability provide short-run and long-run solutions for social and economic problems.

Strategic Decisions Funnel

The Strategic Decisions Funnel represents daily decisions that follow a sequence of reliable, accurate, and adequate information analyzed with positive attitudes in the big picture.  The series of strategic decisions begins with accurate, adequate, and dependable information collected in the funnel.  This information is analyzed with positive attitudes in the big picture by taking into account the long-term mission and vision of your business. If you make strategic decisions every day, you have an excellent position to achieve what you want in your life.

The Aspects of Strategic Decisions

Successes or failure is a result of small decisions we make in our life. If you are accountable for your daily decision it is easy to build your fortune. But if you don’t be accountable with small decisions by not considering your business mission and vision you may fail to achieve what you want.

Let me share with you a true-life story, there were two people, Mr. Lameck and Mr. Massawe, who were traveling to Tanzania from London with a connection flight at Dubai international airport. While in Dubai, their connecting flight to Dar es Salaam Tanzania was delayed. The inconvenience led the airline to pay 600$ for each of them to cover accommodation and meals. Mr. Lameck decided to use the 600$ to finance his costs and buy his dream shoes. But Mr. Massawe used the 600$ to finance his costs and purchased a camera for his photo studio business.

When you look at the two travelers, both made decisions but were different. Mr. Lameck made the ordinary decision while Mr. Massawe made an informed and strategic decision. By using that camera, Mr. Massawe was able to generate 500$ per month. Within one year, Mr. Massawe was able to create 6,000$. If Mr. Massawe keeps making informed and strategic decisions for ten years, he can generate 60,000$ with the same camera.

Key Steps to Make Strategic Decisions

An Entrepreneur can use the following steps and techniques to make strategic decisions.

Step 1. Get Data & Information

The decision is data; without data, there is no decision. You need adequate, reliable, and accurate data to make informed and strategic decisions. In every decision, you want to make, collect adequate, reliable, and precise data to support your choice. You have everything you need to get data and build your success. You can collect data from successful people in the area of your interest or access data from organizations that deal with data. You can also access data from the internet and books to build your success. 

      If you want to build a business in the Agriculture sector, get adequate, reliable, and accurate data from the sector and successful people in that industry. Ask successful people in that industry how they succeeded, learn more from them, and g beyond by thinking big.

Step 2. Think Big

Think big by taking into account the mission and vision of your business in the future. Apply radical thinking to see your business beyond the best achievers in the industry where you operate. Think about growth strategy and things that will help to achieve your vision.

Step 3. Be Optimism

The creative power of positive thinking has a significant impact on making strategic decisions. It is the power that gives you the ability to make strategic decisions and get what you want. Positive thinking helps you to be confident with your choice and the change you want. It provides you with the confidence and assurance to get the best in your decisions.

Step 4. Conduct Assessment

Any decision you make in your life has positive and negative results. The assessment helps you understand, establish reasons, and collect evidence to support every informed and strategic decision you make. It allows you to understand and weigh the benefits and costs of implementing your choice. It also helps you to collect evidence that supports your implementation approach. 

PESTEL Assessment

Conduct Political, Economic, Social, Technological, Environmental, and Legal factors (PESTEL) assessment linked to what you want to accomplish.

SWOC Assessment

Evaluate your strengths, weaknesses, opportunities, and challenges (SWOC) involved in the implementation process of your business.

Self-Assessment

Conduct self-assessment every day by asking the following questions:

1. What will happen if I do not carry out my decisions? 
2. Why do I want to start or implement a business in such a way?
3. Will the choices I make be beneficial based on the implementation cost?
4. What if I fail?

Step 5. Take Action

You have to take responsibility for your decisions to get what you want. You can take action by using the implementation formula for the creative power of success.

The implementation formula for the power of success:

Visualize + learn +take action + affirm +meditate + review & improve X∞

∞ stands for infinity until you get what you want.

Interpretation

 (Visualize + learn +take action + affirm +meditate + review & improve X) + 

(Visualize + learn +take action + affirm +meditate + review & improve)+…

+………………………+ until you get what you want.

From the power of success implementation formula, the action must take six recurring step actions. 

• The first step, visualize to activate mental pictures into the conscious and subconscious mind. 
• The second step, learn to acquire the right knowledge and understanding about what you want to achieve.
• The third step, take action to drive the implementation of your decisions. Take full responsibility. 
• The fourth step, practice affirmation to create what you want by the power of your word. 
• The fifth step, meditate to align your body, soul, and mind into one voice and one goal. Work at your peak performance level.  
• The sixth step, review and improve every day to keep the best practices until you achieve what you want.

Source: 3 x 7 x 21 Success Formula