I am often asked by an entrepreneur...multiple times...about making the same decision. It may be about firing an employee, entering a new market, or some other tough call. The same question, again and again...
In a start up, taking time with some decisions is important. Others? Get it done...fast..How does one tell the difference? Consider the following:
- Will making the decision help us get moving forward? Often, having the wrong employee can really hold back a company. Get rid of them, fast.
- Is it better to make the decision now or later? Too many entrepreneurs get into the fast decision mode, when they would be better off waiting a few weeks or months. I've seen decisions on new market entry be scrapped after a few weeks, only to be reversed in future months. Wait for the data, people!
- Should some decisions never be made? I've seen entrepreneurs jump in bed with stupid money, only to miss the opportunity to get smart money in the door a few months later. Be sure and make sure that you carefully consider the implications of these decisions before you jump in the wrong direction.
Decisions can be roadblocks to success, or they can be enablers. Be sure you sort out the two types as you make your decisions.
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