Hang On—Who’s Really Making Decisions in Your Business?

Who’s Influencing Your Business Decisions? The Power of Stakeholders

When was the last time you paused to consider who is truly influencing your decision-making? Who are the voices that shape the direction your business is headed? These individuals—whether they’re vocal or subtle—are your stakeholders, and their influence on your thought processes is more significant than you might realize.

Who Has a Say in Your Business?

Start by writing out a list of all the people who have an influence on your business. These might include subcontractors, employees, investors, clients, mentors, or even friends and family. Don’t just jot down the obvious names—take a moment to dig deeper and think about who might be influencing you indirectly.

Positive, Negative, or Neutral Influence?

Once you have your list, reflect on the role each stakeholder plays. Do they have a positive, negative, or neutral impact on how you think about your business? Understanding this influence is a crucial part of self-discovery, and it allows you to take a step back and reflect on where you are going and why.

For instance:

A Negative Lens: Do you have a subcontractor who always complains about clients being too needy or unreliable? What impact does this have on how you view your clients overall?
A Challenging Influence: Perhaps your admin assistant is highly efficient and constantly asking for more work. Does this make you question your business’s productivity or priorities?
Financial Pressure: Maybe your stakeholder is an investor questioning your spending and Return on Investment. Does this leave you feeling deflated or doubting your strategy?

Categorize Your Stakeholders

Now, revisit your list and consider how much influence each person has. Try using a highlighter to visually assess their impact. Can you categorize them into groups? While this isn’t a task with clear-cut answers, the goal is to explore how these influences align or clash with each other.

The Power of the Pause

The next time a stakeholder makes a comment—whether in a meeting, by the coffee machine, or in an email—take a moment before responding. Reflect on why they might be saying what they are saying. What might be influencing their perspective, and how is that affecting your reaction?

You don’t have to respond immediately. In fact, you don’t have to respond at all until you are ready. You are the leader of your business. While stakeholders certainly have a say, ultimately, you decide how to act on their input.

Embrace the Discomfort

Taking time to think about who these people are, why they care, and why their opinions matter to you can be an uncomfortable but necessary process. However, by understanding these influences, you empower yourself to make decisions that align with your vision and lead your business with confidence.