A family business leader has to make decisions. It’s one of the most important parts of their role. And yet some leaders struggle with decision-making. Fear of making the wrong choice, anxiety over potential consequences, perfectionism, self-doubt—they all result in one thing: indecision.
Indecision leaves a family business adrift. Business goals are aimless, resulting in decreased productivity. And the business is left vulnerable to economic downturns or unexpected crises. Indecision can lead to a vicious cycle.
Indecision, surprisingly, doesn’t look like a lack of confidence. When a family business leader struggles with indecision, they often over-compensate to reassert their confidence and authority. They may assert a strong opinion to appear decisive while lacking the conviction to truly act. They may also excessively delegate decision-making. This comes across as trusting the team, but in reality, the leader wants to avoid making a hard choice.
Making decisions, especially future-defining decisions, can be debilitating. For family business leaders who are struggling with indecision, check out “The Real Roots and Hidden Costs of Indecision.” There are three steps that will help you overcome your indecision.
Read about what to do when a family business leader struggles with indecision here.
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