So that your budding project does not fail
(4 important rules)
It is certain that projects and during their various stages of implementation go through many challenges and turns that require making decisions to address and correct tracks related to plans, budgets, or even clients.
Sometimes it is necessary to take quick, urgent, or urgent decisions to avoid the negative impact of what the situation was, but before making and implementing the decision, it must be studied, evaluated and looked at from all sides, so that we avoid falling into implementing a wrong decision whose negative impact may be destructive to the whole project.
These four rules will help you make appropriate decisions at appropriate times to avoid the negative effects that your project may face during its march towards achieving all of its set goals.
The first rule: Hire slowly and detail quickly:
Entrepreneurs or managers should take their time to get excellent employees, by holding numerous job interviews to ascertain and check the competency of the applicants. But when it appears to them that they have an employee who does not meet their expectations about the job, then they must take all steps to get rid of him as quickly as possible.
The second rule: Do not rush to change your personal economic system or your “living situation”
There are many stories of entrepreneurs and businessmen who were not in a hurry to change their living conditions and lifestyle despite reaping fictional profits.
Because your sudden change of lifestyle may not keep up with your personality
It can make you always miss the old system that you are used to. It may also harm your project, because that may drain a large number of profits that are supposed to contribute to financing and developing the project.
Third rule: Do not be in a hurry and take your decisions slowly
Whether the decision-makers realize this or not, the decision-making needs to be considered by many factors. However, the one thing that everyone may agree on is that the skill of wise and effective decision-making comes with practice, training, and years of experience. But in order to speed up that process a little, you need to know the basic steps you need every time you want to make a vital decision.
So :
- Define the problem Study the topic well
- Identify potential barriers
- Analyze available solutions
- Consult experienced people
- Be sure of yourself
- Evaluate the capabilities that will bring you closer to achieving your goal
- Make the decision
Fourth rule: An increase in income does not mean an increase in net profits
An increase in income does not mean an increase in profits, as the increase may have been based on an increase in expenses such as an increase in the marketing or operating budget.