“I Don’t Know”
There are 3 answers to every question: the right one, the wrong one, and “I don’t know.” Most of us need to answer “I don’t know” more often.
In business decision-making the reality is that we rarely know the right answer with certainty. Usually the right move is to go with an answer that you are 80% sure is correct. However, if the consequence of an incorrect decision is bankruptcy “I don’t know” is the best move. “I don’t know” means more information is needed or more analysis is needed.
Encourage your employees to say “I don’t know” when they are unsure of the answer. You need to make them comfortable responding in that manner while coaching your entire organization on the appropriate level of information and analysis needed to make the decisions entrusted to them.