• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

2

Trump pulls back after Iran crosses his red line as U.S. military breaks two-week streak of airstrikes amid talks for potential Hormuz deal

3

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down

1

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'

2

Trump pulls back after Iran crosses his red line as U.S. military breaks two-week streak of airstrikes amid talks for potential Hormuz deal

3

'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
CommentaryLeadership

Here’s How You Can Avoid Making Bad Business Decisions

By
William Craig
William Craig
Down Arrow Button Icon
By
William Craig
William Craig
Down Arrow Button Icon
January 31, 2016, 2:00 PM ET
467174223
Young businessman on phone with head in handsPhotograph by Leonora Saunders via Getty Images
Add Fortune on Google for similar content.

The Leadership Insider network is an online community where the most thoughtful and influential people in business contribute answers to timely questions about careers and leadership. Today’s answer to the question “How do you make tough business decisions?” is written by William Craig, founder and president of WebpageFX.

There’s a great quote from Theodore Roosevelt about decision-making: “In any moment of decision, the best thing you can do is the right thing, the next best thing is the wrong thing, and the worst thing you can do is nothing.”

When faced with a tough decision, I think it’s helpful to remember that making a well-informed decision is more important than making the perfect decision. Of course, no one wants to make a decision that he regrets later, so here are a few ways you can make closer-to-perfect company decisions in tough situations.

Assess the financial cost
Naturally, one of the first things you should consider is how much money your decision could cost (or earn) your company. I mention this first because, even with all else equal, this will likely be the deciding factor that sways your choice in one particular direction. If the financial cost associated with your decision has the potential to ruin your entire business, don’t make that decision. If you think, ‘We might be able to do that,” without risking your company’s stability, mentally explore that route further.

See also: Always Do This When Making a Tough Decision

When my co-owner (my wife) and I decided that we wanted to move WebpageFX from the town of Carlisle to Harrisburg, Pennsylvania, there were a number of financial costs we had to consider. The 19th century mansion we had our sights set on needed a lot of work, property on the riverfront would be more expensive than in the middle of a small town, and we knew we wanted to outfit our new office with perks that matched our culture. It wouldn’t be cheap but we thought we might be able to do it, so we explored that idea further.

Assess the culture cost
If you’re able to reconcile the financial costs of your tough decision, move on to the decision’s implications for your company’s culture. Ideally, a solution to a tough decision should have minimal impacts on your overall culture. If it does have a negative impact, you could risk losing employees or going against the very values your company was built on.

In the case of our office move, we knew putting our time and money into a place that would inspire our teams aesthetically and functionally would have a positive impact on culture. In other cases, knowing the impact on culture will likely be less clear-cut. Take the time to consider this point thoroughly before committing.

Assess the productivity cost
Lastly, a forward-thinking businessperson should consider how his or her current decision will impact future productivity within the company. Maybe the decision will cause some temporary slump but streamline productivity a year down the road. Maybe it’ll boost productivity initially but fade off over time. Both outcomes should be considered before you make the final call.

To continue with the example of changing offices, I anticipated a minor slump in productivity during the first few weeks of our move. Our teams had to get used to the new setup, we had to account for potential technical glitches,and there was the hype surrounding our new location would be a minor distraction. All in all, we experienced very little loss to our productivity and part of that is because anticipating such issues can help your teams prepare for them in advance.

About the Author
By William Craig
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Commentary

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • TikTok icon
  • YouTube icon

Latest in Commentary

Roderick Wong, MD is Managing Partner and Chief Investment Officer of RTW Investments
Commentary250 Years of Innovation
When 10,000 doctors stood up and cheered for a cancer drug — America’s innovation machine made it possible
By Roderick WongJuly 25, 2026
21 hours ago
t
CommentaryCommunity
Ronald Reagan center director: How to talk politics with family, friends and neighbors, without losing them
By Frederick J. Ryan, Jr.July 25, 2026
21 hours ago
m
Commentarydisruption
The Messi Test and how the Spaniards messed with it: what the World Cup final taught me about the jobs AI can’t touch
By Bhaskar ChakravortiJuly 25, 2026
22 hours ago
alex
CommentaryEntrepreneurship
I sold my startup for millions without a single dollar in revenue. Here’s why that’s the point
By Alexander Kardos-NyheimJuly 25, 2026
1 day ago
craig
CommentaryPharmaceutical Industry
Big pharma’s patent cliff meets a new biotech Cold War: We need to outrun China, not outlaw it
By Craig GarthwaiteJuly 24, 2026
2 days ago
tim
Commentarysmartphones and mobile devices
NYU Stern pricing expert: There’s a hidden ‘AI tax’ hitting Apple, Dell — and your next phone
By Srikanth JagabathulaJuly 24, 2026
2 days ago

Most Popular

The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
Real Estate
The millennial generation is split in 2: an older crowd with boomer-style comfort, a younger set going 'back to the early 1900s'
By Nick LichtenbergJuly 25, 2026
21 hours ago
Trump pulls back after Iran crosses his red line as U.S. military breaks two-week streak of airstrikes amid talks for potential Hormuz deal
Middle East
Trump pulls back after Iran crosses his red line as U.S. military breaks two-week streak of airstrikes amid talks for potential Hormuz deal
By Jason MaJuly 25, 2026
13 hours ago
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
Economy
'The demographic dividend of the last 40 years is ending': J.P. Morgan says the world is running out of the two things that kept interest rates down
By Eleanor PringleJuly 24, 2026
2 days ago
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
Success
An 11-year-old is cleaning his neighbors' trash cans for $10 each—he now has 100K followers as teens face the worst summer job market since 1948
By Orianna Rosa RoyleJuly 25, 2026
24 hours ago
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
Big Tech
Jensen Huang made his $172 billion fortune on AI chips. His family's $75 million gift to Vanderbilt argues art decides what technology is for
By Sydney LakeJuly 23, 2026
3 days ago
A Hims cofounder fired his entire marketing team for AI. Now his 24/7 online vet service is growing 20% a month
Success
A Hims cofounder fired his entire marketing team for AI. Now his 24/7 online vet service is growing 20% a month
By Sydney LakeJuly 25, 2026
19 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.