January 12, 2023 | By David M. Wagner

Fear of making a “wrong” choice is often behind a leader’s hesitancy to make an important decision. That’s why it’s #1 on my top 10 roadblocks to decision-making.

You might feel like you’re overthinking. That could be true, or you might just be deliberative, with a talent for identifying obstacles. (I’m with you – it’s one of my top five Clifton strengths!)

What if you could have both – proper attention to your concerns about what could go wrong, and the confidence to make a timely decision?

Here’s how.

Capture your Concerns as Risks

Write down each “what if…” on your mind in the form of a risk statement: “If ­(thing you anticipate) happens, then (negative consequence) will result.”

In my experience, we tend to overestimate both the number of things that could go wrong and the consequences of their occurring. Spelling out our concerns in this way helps keep them in proper perspective.

Also capture the downside of not making a timely decision. You may find that the risks of not acting trump other concerns.

But even if you’ve identified dire, existential possible downsides to a plan, be sure to…

Assign a Realistic Probability to Each Risk

Many of the worst-case scenarios we envision are extremely unlikely. Our fear distorts our expectation of just how unlikely. So getting some outside input can help us make more realistic estimates of the probability that something (bad) will happen.

The point of this step is not to become an expert prognosticator, but to choose which risks deserve the most attention. And to help us think about how risky a course of action really is.

Build a Mitigation Plan

Identify steps you could take to address the risks with the greatest combined consequences and likelihood of occurrence. Some frameworks to managing a decision that feels risky are:

• Impose conditions. As in, “we’ll only make this choice if conditions A, B, and C are met.” Your conditions might eliminate risks entirely, or at least lessen their consequences.

• Set tripwires. What events or information would indicate that something bad has occurred, or is about to? Use tripwires to monitor the situation carefully and trigger actions when necessary.

• Have a backup plan. If it looks like Plan A isn’t working (based on a tripwire), can you have a Plan B waiting in the wings that will alleviate the issue?

• Have a backout plan. Try constructing a risky plan so that you can effectively reverse course when needed (again, using tripwires). Backout plans aren’t always without cost, but they’re often less costly than sticking with a failing plan.

Is this just risk management? Absolutely! Risk management is a great tool in the face of fear because it helps us name and account for our concerns, rather than suppress them. Working through our concerns reduces fear and helps us build better plans.

If you need help giving voice to your fears or keeping them in perspective, schedule a consultation to talk to an experienced guide.