Manage your cognitive biases
Pay attention to aspects of the situation that are not immediately visible
If you notice that many of your customers have stopped purchasing your products, consider sending out a Customer Dissatisfaction Survey instead of a Customer Satisfaction Survey. In the survey, ask former customers why they no longer engage with your products and offer them a discount coupon for responding to the survey. This will yield valuable insight into issues that you probably haven’t been paying attention to.
Study your past mistakes as you make critical decisions
Let’s say you once hired a talented graphic designer but they proved to be a terrible choice due to their lack of soft skills. Next time you want to hire someone, reflect on past mistakes and take a different approach. For example, instead of focusing only on technical competence, reach out to their former employers. Ask about their soft skills such as communication style, ability to meet deadlines, attention to detail, and so on. This will help you develop a clearer picture of the person you’re hiring.
Focus on the long-term impact instead of short-term gains
Instead of focusing solely on projects that boost quarterly profits in your company, invest more in activities that ensure long-term success. For example, invest in the continual education of your staff, hire a consultant to help improve business systems, and offer monthly leadership seminars for your managers. Pay attention to aspects of the business that have a long-term impact on company success even if they seem like an expense in the short term.