For small businesses, ROI – Return On Investment – is a buzzword frequently discussed in the context of marketing. It’s the ratio of investment to cost that determines the success of a marketing campaign.

However, I believe a business owner should also consider COI, the Cost of Indecision. This refers to the revenue and momentum lost when a business owner hesitates to make a decision or refuses to delegate.

Procrastination delays success. Even worse, stalling progress after making a decision hinders the efforts of those entrusted with moving the business forward.

I often draw inspiration from Simon Sinek, an author and sage. His leadership philosophy emphasizes “action moments.” Sinek suggests that the goal is not perfection, but improvement.

Recently, we completed a marketing assignment for a business owner plagued by indecision and second-guessing. A project that could have been completed in six months stretched into over a year.

This resulted in a significant COI, stemming from an owner fixated on perfection rather than progress. The first six months were filled with “sharpening pencils, rolling up the sleeves” meetings that should have been collaborative, idea-generating, and creative. Instead, they were micromanaged by a business owner with an iron grip on the process, ensuring only his vision was heard.

This micromanagement led to a loss of enthusiasm among his key team members and our own. The post-meeting sentiment was, “Why did he hire us?” Our role shifted from authority to vendor, and his key team members transitioned from collaborators to followers.