He must believe in himself and should be possessing ability to take decisions effectively. Decisions taken should be based on quantitative facts. Decisions which affect organizations and are likely to be irreversible must be taken with great care.
Entrepreneur strength has to take decisions without the assistance of quantitative data or experienced support staff, and then he has to be more creative than just a conventional manager. Such problems have to be seen from different angles and answers must be required in an innovative way. Decisions taken must improve the future profitability of the enterprise Entrepreneurs past experience, initiative decisions making ability, rational approach, and problem solving ability, creativity etc.. It will help him take quick and accurate decisions.
Here are some great tips to become a good decision maker.
1.Define the problem
2.Collect information and relevant date
3.Begin with a ‘brain storming’ session and discuss the problem with each other
4.Never criticize or reject any solutions suggested during the brain storming session
5.Encourage group members to come up with potential solutions.
6.Reduce the number of alternatives to three or four after discussion
7.Consider each alteranative extensively and determine the best to meet your needs
8.Implement decisions.
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