Business often requires bold actions on important decisions such as launching an innovative idea, creating a new advertising campaign, or changing the direction of a company. Here are 4 steps to make before a risky decision.
- Stop and Ask
- Don’t do anything purely in the service of courage. Ask yourself: What am I doing and why am I doing this? This simple approach can help build the muscle of self-awareness. Balance the desire for boldness with business acumen. Weighing the risk/reward of your actions can increase your odds.
- Don’t just win, make the right plays
- It’s easy to get caught up in the end goal. Even more important than winning the game, however, is the successful execution of every play. Focus on the success of each step in launching and scaling your business as opposed to purely the end objective.
- Hold yourself accountable
- Business decisions often include a number of options, each associated with different levels of risk. Weigh the risk/reward of each option to identify what straddles the line between feasible and fulfilling.
- How a consulting company could take the risks out of some choices
- Consulting companies try to involve more people in the decision-making process. They’re going to give you additional information and offer perspectives you may not have thought of. Additionally, by involving them early, you are reducing execution risk on the back end.