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VTPDF HowtoMeasureDecision-v2

The document provides tips for entrepreneurs on measuring the decisions they make. It recommends entrepreneurs ask three questions after making a decision: 1) What could have been done differently? 2) Was the timing proper? 3) Could it have waited longer? When measuring a decision, entrepreneurs should consider the dollar stretched, time needed, and return. Decisions aim to address opportunities like growth or problems like legal issues. Entrepreneurs should inspect past decisions and track record to improve future choices. The purest way to measure decisions is by their results.

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Dewi
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190 views

VTPDF HowtoMeasureDecision-v2

The document provides tips for entrepreneurs on measuring the decisions they make. It recommends entrepreneurs ask three questions after making a decision: 1) What could have been done differently? 2) Was the timing proper? 3) Could it have waited longer? When measuring a decision, entrepreneurs should consider the dollar stretched, time needed, and return. Decisions aim to address opportunities like growth or problems like legal issues. Entrepreneurs should inspect past decisions and track record to improve future choices. The purest way to measure decisions is by their results.

Uploaded by

Dewi
Copyright
© © All Rights Reserved
Available Formats
Download as PDF, TXT or read online on Scribd
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va l u e ta inm e n t

RESOURCES FOR ENTREPRENEURS (#6)

how to measure a decision you’ve made as an entrepreneur


By Patrick Bet-David

3 questions to ask when measuring decisions:


1. What could’ve been done differently?

2. Was the timing proper?

3. Could it have waited 6 or 12 months from now?

The decision measuring formular: DTR


1. Stretching the DOLLAR

2. Least amount of TIME needed

3. The RETURN

All rights reserved. Patrick bet-david and valuetainment media ©2018


There are 2 areas that require constant decision making:
a. Offense (Opportunity)

i. Growth
ii. Expansion
iii. Marketing
iv. Sales

b. Defense (Problem)

i. Compliance
ii. Legal
iii. Protection against a competitor or market correction

1. What issue will the decision solve?


2. How urgent is the issue (Opportunity or problem)?
3. How much will it cost?
4. How much time is needed to address the issue?
5. What type of results will it give?

c. Return of money
d. Protection of loss

Make a list of blind spots of things that could go wrong or go right with the decision:

e. It’s easy to get excited about possibilities but you need to also think
about what could go wrong.

Inspect your track record of making decisions:

1. How often do you make the right choice?


It’ll never be 100% but it’s like free throws, some companies do consistently
make better decisions than others
2. How quickly do you make devisions and pivots compared to the competition in your industry?
3. How effective is the decision making process?
a. Last 10 major decisions that all were $1,000,000, $100k decisions or $10k
4. How much has it taken you away from your core strength to grow the company?
(Core strength is to advance the business)

The purest measurement of the decisions you’re making for your


company come down to results.

All rights reserved. Patrick bet-david and valuetainment media ©2018


Additional Notes:

All rights reserved. Patrick bet-david and valuetainment media ©2018

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