Making decisions is a fact of life.  The best we can hope for is that we make the best decisions possible with the information we have.  In searching for guidance to make the best decisions possible for some personal and business situations recently, I came across what is referred to as the 4 Way Test.  A man named Herbert J. Taylor came up with this test during the Great Depression when he was trying to save a troubled manufacturing plant in Chicago.  Mr. Taylor’s company began embracing these principles and went from failing to thriving.  These questions, as all timeless wisdom, were culled from Scripture and they have been adopted worldwide as principles to guide your actions in every situation in life.

We all have decisions to face in our business and personal lives and it isn’t always easy to know which direction to take.   The 4 Way Test can help guide your way…

Is it the truth?  Two things come to mind – excuses and false advertising.  When you make a commitment do you sometimes find excuses to get out of it?  Excuses are not truth.   They are a way of dealing with buyers-remorse or not wanting to be held accountable.  Whose truth do we have?  Only our own.  If someone tells us something we have to take them at face value.  If a client says they are ready to work with me and then cancels the appointment am I going to get in their face and call them a liar?  No.  It’s on them, not me.  How about the truth about our products and services?  Are we telling the truth about what they do?  Can we back up our claims?  Try offering a money-back guarantee.  Does it make you nervous or can confidently offer it knowing that you have nothing to be afraid of?  If you hesitate, you might want to look at your truth a little closer.

Is it fair to all concerned?  In our dealings with other people we need to ask ourselves if we are being fair.  This is particularly true when it comes to negotiating and setting price.  There seem to be two extremes to this.  One is about overpricing and one is about undervaluing.  Some people are just really good at convincing and charge really high prices but have nothing of substance to deliver.  That’s not fair.  Some people undervalue their skills and have a great deal to offer but don’t charge enough.  That isn’t fair either.  Unfortunately, those people can get taken advantage of by others who can see their value and exploit them for their own gain.  Not fair.

Will it build goodwill and better friendships?   Business, as in life, requires interaction with others.  We can’t operate a business in a vacuum.  At the very least we need people who will be customers.  But there’s so much more to it than that.  I’ve only just begun to see the power of collaborating with others to work toward a bigger cause.  A self-employed individual only has so big of a voice but a group of people working together towards the same goal becomes very big.  I’ve been reaching out to other professionals to invite them to participate in telesummits  and other collaborative efforts and I’ve been making some great connections that I didn’t anticipate but I’m pleasantly surprised by.  By offering to do something for them I’m building goodwill and friendships.  Are you only looking for the sale or are you trying to build partnerships too?

Does it benefit all concerned?  Situations that result in a win-win for everyone are best.  This is especially true when it comes to keeping customer.  It’s really a lot harder to get new customers than it is to keep existing ones.  This is also a great question to ask yourself when you’re working on your business strategy.  Look at the big picture and ask yourself how a change will impact the business, if it fits in with the overall plan, and if it is good for everyone involved.

One big take away from all this – stay on your side of the street.  It is so easy to fall into the trap of what ‘everyone else’ is doing.  Let your conscience be your guide and let other people do what they want to do.   Don’t believe that you can only be successful by trying to outwit the other guy.  That kind of stuff doesn’t last.  Am I naïve?  Maybe, but I’d rather be naïve and live with a clear conscience than constantly be trying to figure out how to get the better of people.  My job is to do the very best I can with what I’ve got and do it honestly, fairly, and with humility.  I don’t think I can go wrong with that attitude and neither can you.  Remember, you can achieve whatever you believe as long as you are willing to work for it!

Liz Uram is a business strategist and marketing plan expert, working with entrepeneurs to sort out their big ideas and get results. Get your free eBook Boost Your Business Now!