What to do when you get to a crossroads with your business

All of us have faced this, not just in business, but at various times in life. You just don’t know what to do next. It is like having a writer’s block. The pen just doesn’t move. Entrepreneurs need to remember that indecision can be crippling to your business and hence you need to take a call on the move. That does not mean reckless decisions which could put your business in jeopardy.

A new perspective

Sleep over the decision if required. Get a different perspective from yours. Sometimes you often miss the larger picture because of your singular focus at something. Suzy Welch in her book gives an excellent 10: 10: 10 life advice. Consider the implications that your decision will have in 10 days, 10 months and 10 years. Certain decisions may have short term benefits but other decision like considering a new market will have long lasting implications. In any case, any decision needs to be well thought out and its risks and benefits outweighed against each other.

Ask your mentor

He/she is the best person to ask because they have experience. They would have been in such situations before and can give you a very effective piece of advice.

Go By Your Intuition

Of all the things they trust, women trust their intuition the least. This is because our sense of accomplishment comes after achieving something humongous. We set high expectations and even when we achieve them, we often feel that we could have done much better. A sum effect of all this is that we learn to not trust our gut feeling. Sometimes when you feel strongly about something and when it has merit, it is wise to consider the decision. Ms Ameera Shah, Managing Director, Metropolis Healthcare Ltd. noted ‘Some of my mentors and people in business told me not to invest in Africa as it is an extremely risky market. But I went by my intuition and the existing market scenario. Today we have a presence is five countries and growing year on year.”

An entrepreneur needs to remember that indecision is crippling to growth and needs to make decisions on the go. Some may work and some may not.

As Ameera would sum up; try aagain fail again, fail better

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