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: