Procrastination or Patience in Decision Making?

There are advantages and disadvantages of procrastinating in regard to making a business decision.  With procrastination, there is a tendency to engage in a non-essential task that will replace the critical task, for example checking email, internet browsing or other business tasks.  The procrastinator convinces their self that these things are of the up most importance, and will do just about anything that will take them away from the task at hand.

Procrastinators put off failure as long as they can, and at whatever cost.  This may create the illusion of finishing many tasks but in reality the main task never gets completed.  Facing this failure means that the person has to acknowledge they are imperfect, unreliable, unskilled and most likely this leaves a feeling of embarrassment.  A severe fear of failure can be linked to all types of serious emotional and mental problems.  Luckily, for most of us our fear is not that deep, we just need a swift kick in the butt to avoid procrastination.

Some procrastination (or patience) in business decision making can be very useful.  There are times when postponing decisions helps to reduce uncertainty with the passing of time.  Although, procrastination has its disadvantages such as missed opportunities or prices rising, patience has advantages to the contrary such as price drops or added opportunities.  There seems to be a fine line to be drawn between procrastination on tough decisions or patience in waiting for a better opportunity to evolve.

Give us your insights on how to determine when there is procrastination or patience when making business decisions..