As executives, our role is to make decisions. Delaying, avoiding, or making hasty decisions is equivalent to neglecting our responsibilities. These actions not only hinder our effectiveness but also create a ripple effect, preventing our teams from moving forward. For example, indecision around investing in new technology or upgrading business systems can leave the organisation stagnant, missing opportunities for efficiency and growth, or worse, falling behind competitors.
Consider the cost of delay: waiting too long to invest in critical technology might mean losing market share or operational inefficiencies persisting. On the flip side, rushing into an investment without proper evaluation can lead to wasted resources on systems that don’t align with the business strategy. Both scenarios come with significant financial impacts.
Furthermore, when we hesitate or make poor choices, our staff and service providers lose confidence in our ability to lead, affecting their morale and productivity. As leaders, we are accountable for the outcomes of our decisions—or the consequences of failing to make them—whether good or bad.