Gold’s Gym. Hertz. GNC. Soup Plantation, Etc…
Have filed for bankruptcy.
And they’re not the only ones.
Thousands of small businesses have filed too.
Why did this happen? The answer will surprise you.
It’s not because of the pandemic or stupid government officials.
This happened because of the decisions these companies made.
The leaders of these companies took too long to make their decisions.
As leaders, we really only have one job.
It’s to make quick and effective decisions.
Right now, the reason why we’re in the sh!t storm we’re in is because people are freezing up when it’s time to make a decision.
They act like a deer in headlights when it’s time to decide whether to go left or right.
And like the deer who freezes up when a car is coming at them, they get slaughtered.
I don’t want that to happen to you so…
Here’s the strategy behind making quick and effective decisions.
It’s called the 40/70 Rule.
It’s something that General Colin Powell talks about in his book.
Let me explain how it works:
Don’t make a decision with less than 40% of the info. And if you wait to get 70% or more information, you took too long.
In other words, if you WAIT to have 100% of the information you need to make a decision, then it’s likely going to be over for you.
This 40/70 rule is what separates the pros from the amateurs.
And it will save your ass…
Especially during these chaotic times.
The 40/70 Rule can be used on everything. The key here is to learn to make fast decisions and know how to pivot if a decision was a poor one.
That’s how successful leaders seem to always win.
I used the 40/70 Rule on Fit Body Boot Camp.
We transitioned our entire franchise from in-person to online in 3 days.
I did this with only 40% of the info.
If I had waited to get 70% or more info, I might have joined the “Bankruptcy Club” we talked about earlier.
I share this with you because I’m seeing too many entrepreneurs struggling with this.
And it’s costing them their companies and peace of mind.
Here’s how you can start making quicker decisions ASAP:
Like a muscle, it gets strong the more you use it. Right now, your “Decision Muscle” is weak.
To make it stronger, you need to use it more.
Your “Decision Making Muscle” will get stronger by making quick decisions on small things.
Like the shorts or shirt, you wear tomorrow.
Or what to eat for dinner tonight.
Do this for 30 days, and you’ll see the difference in your life and business.
You’ll solve problems quicker…
You’ll be an effective leader…
And build your empire faster.
Talk soon,
Bedros
PS. Listen, leadership is something anyone can build. I teach you how in my book Man Up (which you can get free from here)