What are some of the decision-making process that successful entrepreneurs follow?

[SilverLance]

Starting a business is not easy. Among many key skills that successful entrepreneurs possess is the ability to make precise decisions. It ranges from going for a good business model, hiring employees, to deciding on marketing strategies. Decision-making plays a crucial role in success of any business.

So, according to you what are some of the important decision-making process that successful entrepreneurs follow?

 

[Augusta]

Very importantly avoid credit sales if you can. A lot of business collapse quickly when you start having high debtors that are not willing to pay

 

[Springtime]

A successful entrepreneur should take the following steps in his/her decision-making process:
1. Evaluate the situation
2. Research for information about the situation
3. Think of alternatives to deal with the situation
4. Make a decision to take which alternative