Make a decision
Cassel is not one to make rash decisions, a trait that his team likes to remind him of from time to time.
“Sometimes they joke with me here when I tell people I want to sleep on a decision because I want to spend the night thinking about it, and then the next morning, make a decision,” Cassel says. “It’s very important to make a decision because no decision is, in fact, a decision.”
Cassel says he recognizes the importance of making a decision and uses the extra time to be in the best position to do so. Ideally, the burden of deciding which way to turn does not rest entirely on your shoulders but is the product of a comprehensive review with your people.
“I think the key is having the right people working with you and empowering them, not micromanaging them,” Cassel says. “You hope they are honest with you. There is only so much you can do.”
Make sure you work out the conflict and disputes in the meeting room because once a decision is made and the doors open, you need to remember you’re on the same team.
“Part of it is discussions with those who you have to communicate with to make sure the decisions you are making are consistent with the overall strategy and plan,” Cassel says. “Part of it is being empowered to make those decisions. And then to have the benefit of success, or if it’s not successful, to suffer the consequences or to take responsibility.”
Taking responsibility when a mistake is made is crucial to earning the loyalty of your people.
“If it turns out that you find out relatively quickly that your decision is wrong, it’s OK to change it,” Cassel says. “I think many people make a decision and realize it’s wrong fairly quickly, but they don’t change it. Once you realize your decision is wrong, there is no benefit to continuing down that path. It’s actually a real negative.
“If there is some advice I can give to people, it’s that it’s OK to be wrong, but it’s not OK to be wrong and not do something about it just because you made a decision. We’re all human.”
How to reach: Ladenburg Thalmann Financial Services Inc., (305) 572-4100 or www.ladenburg.com
