At some point in your business career you either have or you will eventually run up against analysis paralysis.  Whether you are the cause of it, or it is occurring somewhere within your organization, this dysfunctional behavior is costing American businesses millions, primarily in lost opportunity costs.

Simply defined, analysis paralysis is occurring if anybody is habitually thinking about something happening but they’re not making it happen.

Early stages are characterized by numerous requests for more information, reports, studies, statistics, and evaluations.

If these requests are accompanied by endless, mindless discussions in multiple meetings, and if participants view the discussions as progress on the matter, you can confidently diagnose the situation as full-blown analysis paralysis.

Step 1 in ridding you and/or your organization of this affliction is to watch the video, below:

Using the fox as “inspiration” or guidance, Step 2 is to give yourself a defined period of time to finish the process of data gathering. Granted when the fox was homing in on the field mouse he didn’t set a timer, but maybe you should.

Step 3 is to listen to your gut. What does your instinct tell you to do?

Step 4 is to do a mental dry run. Mentally replay your imaginary outcome over and over again until you feel confident in moving forward.

Step 5 is to take the leap! Make a commitment to act by a certain date, and like the fox, dive headfirst into your plan.