Leadership
I bought this picture in Montmartre years ago. It hangs on the wall next to my desk. It is called "Making Decisions." I love the simplicity of it.
I have spoken to lots of prospective / start up founders and a common theme has been the challenge of making decisions.
Particularly for people that may have more limited business experience and/or who are at early start up stage and are still figuring out their way forward;
What legal structure?
What products or services to offer?
What clients / markets to target?
When to recruit - staff, contract or outsourced?
When to take on business premises?
How / when to expand etc.
The list seems endless.
Another key issue which stands out when speaking to budding social entrepreneurs is that they often worry about making a wrong decision.
Don’t we all?
However, it is sometimes to the point where they "over procrastinate" for fear of getting it wrong.
I appreciate it is always easier to stay standing on a cliff edge than it is to jump.
Having run a variety of businesses over the last c30 years, I don’t think decision making becomes any easier. However, experience can make you less afraid of "taking the leap", especially when facing a difficult or challenging decision.
So, to every "wannabe" entrepreneur out there who may be facing up to some challenging business decisions, here is a few thoughts which I hope may be of some help;
Be bold and brave...but don't bet your "house" on one idea or opportunity. Spread the risk.
Take time to consider all options and reach the right decision. And do not procrastinate once you make your mind up. Act!
Use your left and right brain to make decisions. Our instinct is often right, but always consider research, data, facts and figures as well.
Try to clarify and simply each decision so you know exactly what you are deciding. Make sure you are looking at the right tree...not the woods.
It can be hard to remain completely objective. Take time out before reaching a big decision to check back and ask yourself if there may be any conscious or unconscious bias at play.
Consider best / worst-case scenarios. Can you cope with either? Managing rapid growth can be as demanding and challenging as going out of business.
Accept that you will make mistakes. Think of them as learning opportunities and try not to make the same mistake twice.
Make decisions that align to your core values. If you do not know what they are, go figure them out.
Jump...but with a parachute; What's Plan B if it does not work out?
Finally, enjoy "freefall". While facing many challenges and decisions, you will soon discover that running your own business can be exhilarating...
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