The pandemic decision paralysis blighting businesses and how to overcome it
Spark Outbound
This is hardly surprising, given that the pandemic transformed the way in which we work and inspired rapid change in business operations.
But the same report found that almost half (48 per cent) of business leaders are now less confident in making business-critical decisions than they were before, and over half (54 per cent) said the efficiency of their decision-making process has either remained the same or declined amid Covid.
These figures suggest that the pandemic has brought about somewhat of a crisis of confidence for many a CEO.
And though a certain amount of trepidation is to be expected amid such tumultuous times, developing decision paralysis could spell disaster for business leaders.
Jonathan Sellers, CEO of digital marketing specialists Spark Outbound, has worked with small and medium-sized businesses throughout the pandemic to help them grow.
Now, Sellers shares insight into how he believes business leaders can overcome pandemic decision paralysis.
Getting back to basics
‘Many of the business leaders I’ve worked with over the past couple of years have struggled with the sheer number of decisions they have needed to make in response to pandemic challenges.
‘The uncertainty of Covid has driven many to seek as much control as possible - but this ends up creating more problems than it solves as decision-makers become overloaded with tasks and responsibilities.
‘Getting back to basics by reducing the number of variables and key tasks leaders need to control often helps to overcome decision paralysis, and one way to do this is to outsource some complex and time-draining tasks to expert partners.’
Treasure Data’s survey found that over a third - 37 per cent - of C-level leaders felt that stress on making decisions quickly with little to no deliberation time impacts their confidence.
‘Developing an effective digital marketing strategy for example is difficult enough, and has become even more important in a post-Covid business environment.
‘This can take a great deal of time and effort for leaders to strategize, implement and oversee, taking vital resources away from the most business-critical decisions.
‘Several business leaders I have worked with have found that entrusting their marketing campaigns to Spark Outbound has freed up more time and energy for them to dedicate to key decisions to refine their services or products and streamline business operations.’
Reducing the penalty of making a wrong call
‘A great deal of the anxiety that fuels decision paralysis comes from the fear of making a bad decision.
‘Given the uncertainty and bleak economic climate of recent months, one or two wrong decisions can be the difference between business success or closing down.
‘Given that over half - 56 per cent - of business leaders say they worry about making the wrong decisions as stakes continue to rise, it is vital to lessen the impact of making the wrong call in any way possible.
‘One of the biggest challenges that has faced businesses in the past two years has been financial. Investing in the right people, services and technologies is now arguably more important than ever, but a wrong investment could cripple small businesses for whom every penny counts.
‘While it is impossible to completely eliminate this kind of risk, searching for service providers or partners who can guarantee a high return on investment could go great lengths to safeguarding a business and bringing peace of mind to decision makers.
‘Pay-per-lead marketing services is one example of such a service, and one that has proven popular with our clients at Spark Outbound, as they only pay for the results we generate.
‘When leaders know that every penny they spend counts, it suddenly becomes much easier to make a decision.’
Jonathan Sellers
Spark Outbound
+1 813-308-2387
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