Failure to implement - a matter of self-doubt?

We had a great session of PB Entrepreneurs on Wednesday last week, on the issue of failure to implement.  And, my goodness me, what happened on the day really highlighted how the self-doubt of CEO's holds back change.  For me it also highlighted why being in a group of peers, and provided with a chance to discuss difficult decisions, can be so useful in business.

Before I come to what happened on Wednesday, some reflections on doubt:

Doubt is not always bad - in fact you might even say that doubt is a useful state to have.  Nothing in life is certain, and a combination of poor information, inexperience and overconfidence can be fatal!

Doubt prompts us to double check, to gather support and information before deciding.  With it we prompt ourselves to question our motives and actions.   All good things.

It may seem an odd thing to say, but I see doubt as a strategy - a state to be used where it is appropriate and for a clear purpose.  Dr Martin Seligman, author of "Authentic Happiness" and founder of the US positive psychology movement, in his book "learned optimism" follows the same line.  If the cost of failure is high, he notes, pessimism is a useful strategy to follow.

The key here is choosing confidence or doubt as appropriate, not being bowled along by an uncontrolled internal state.  As you read, the question is, do you recognise when your decision making is hampered by a sense of self-doubt that is not appropriate for the circumstances.  Even when it is the right approach to take, how often does it adversely affect decisions to act.  What about for your team?  Does it hold back change and getting that edge?  Does it slow your team down?  What can you do to overcome it?  Do you rely on a sense of support from your group before you gain the self-confidence to act, or can you act regardless of others?

What are the quick solutions to the crippling inertia of doubt?

Here's one.  My client rang me for advice, facing a major but tough decision.  It had come up suddenly, challenged his whole business model, his risk, his people, the lot.  Faced with the need to make a pretty big investment decision by the end of the week, we decided to put his issue to the PB Entrepreneur group as a case study.

In 20 minutes, he had presented his issue in enough detail for the group to get the gist of it.  We then had 20 minutes of questions around the group, by the end of which the structure was pretty neatly drawn out on the whiteboard, with funding transactions, incomes and costs.  There were also a heap of useful comments.  Finally we called it to a halt with a last set of comments, no liability accepted, from each of the members - they were asked to give one "do", one "don't" and, based on the information presented, to comment on whether they would invest.

In business, mistakes set us back months, create huge frustration and may even cost us our livelihood.  Doubt is natural, caution is common and the sensible seek the company of mentors, or challenging colleagues to help.  But how often, when faced with a difficult decision, do you get your experienced team around you, and use a structured approach to address it with speed.  Under a bit of pressure, I am always amazed at how much more focussed a team can be.

Who knows if he will make the right decision.  The views of the group were mixed.  But my client rang up filled with doubt, and by the end of the case study session had had the chance to talk it through with an experienced group of business leaders, and had to deal with a series of challenging questions.  I have no doubt that as a result he was much better informed, and his confidence in his ability to decide had risen.

Self-doubt would not be the limiting factor.