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Life and business are full of options. At times, unfortunately, the number of options can be overwhelming. There are many ways that you can make a decision, but one of my favorite methods to select the next step in my business is using an impact-effort matrix.
An impact-effort matrix compares your options on two attributes:
To use the matrix you rate your options as high or low for each attribute.
Combining the ratings (high or low) with the attributes (effort and impact) creates four key categories - each category is a cell within the matrix (e.g., table). Once you place an option within a category, it gives you insights on what to do. The four resulting categories are:
The straight-forward structure of the impact-effort matrix helps you quickly categorize your options and plan your next steps. Exciting!
You can use this tool to help you decide between options in and out of the workplace. In business, I've used this method to prioritize my blog post topics and the order I'm launching my new services. [It's important to notice that you can also use this method outside of the office - I've used it to prioritize my DIY renovation plans!] For more about this powerful tool (including a quick video), check out this website!
Here is an example of the full matrix (from /www.tuzzit.com/):
If you are looking for help to make a decision about the technology you use in your business, I recommend you book a Tech Talk With Ada!