Apr 11, 2020
Show overview:
On this episode we interview Lisa Smith, CEO of Dynamize about the importance of decision making and how
to make better decisions.
Lisa’s Why:
Lisa’s husband was an influential part of the
both of them becoming entrepreneurs. Their flagship product for
Dynamize was The Ripjack, which was created out of necessity to improve
health and safety of linemen and operations workers in the power
utility industry who need to remove the outer jacket of high
voltage electrical cable. After seeing workers risk their health
with tools not meant for the job that led to serious injury, they
felt the responsibility to solve the problem.
Lisa’s passion behind decision
making:
When first
setting out on her entrepreneurial journey, she realized that there
were hardly any resources on the importance of decision making, and
how to make better decisions. She believes decision making should
be an umbrella or foundational concept of any
business.
Questions to ask yourself when making a decision:
- How complex of a decision are we talking about?
- How difficult would it be for me to reverse this decision if I need to?
- What seems and feels right? Why do I think that?
- Is there an industry standard?
- When will I revisit this to assess if it was a good decision? Is it a more complex decision than I originally thought?
The complex decision-making
process:
If a decision
is more complex than originally thought, revisit another series of
questions:
- What decisions have I made like this in the past?
- What resources can I consult that would make me have a good decision about this?
- How long is it reasonable for me to spend on this decision?
Timeline of the complex
decisions:
Set a
timeline up front for how long this decision will take you. Adhere
to guidelines and checkpoints you make for yourself. Set interim
goals for things that need to be done at a certain
date.
Post evaluation:
After a decision is made, be sure to reevaluate
the end result as well as how you arrived there for future decision
making opportunities.
- Are we achieving the outcome we thought we were going to?
- Did it cost as much or as little as we originally thought?
- Did the timeline we have planned end up being accurate?
Book recommendations from Lisa:
- The Happiness Advantage: https://www.shawnachor.com/the-books/the-happiness-advantage/
How to contact Lisa: