Three Questions to Ask Yourself When Making a Business Decision
The beauty of being a business owner or someone who takes charge of her career is that you can say yes to what you want, no to what you don’t, and create opportunity for yourself. Creative entrepreneurship or being someone who takes charge of her career is not for the passive, faint of heart. It takes action and decision making.
But what do you do if you’re not sure what decision to make? Do you say yes to this speaking gig, but pass on the next one? Do you let go of this service you’ve offered for years? Do you finally host that in-person event you’ve dreamed up for over a year? Do you take the client that’s below your minimum, but you feel presents a dream project?
Having so many options to consider can seem overwhelming or exciting. We can be paralyzed with indecision or inspired by making things happen. We can ask questions that plant seeds of doubt, such as “what if I make the wrong decisions?”, or we can trust we’re making the right decision when we approach it intentionally.
Let’s do the latter for all those. And I’ve got some tips for you to do that.
I’ve nailed down the three questions I ask myself when making a business decision. They work for me when I answer them from a space of honesty that is aligned with my core. I trust they’ll work for you if you approach them the same way.
Here we go…
Does this business/career move support my goal(s)?
For this question to work for you, you’ve first got to determine your overall goals. Once you’ve got those determined you can ask this question and apply it your big picture goals or smaller goals. If a potential move doesn’t support your goals, you likely shouldn’t do it.
What is my motivation for saying yes?
If you’re close to saying “yes” to something, ask yourself what’s the motivation to do so. Determine the motivation and then see if it aligns with your goals and vision. Is the reason to say yes for vanity metrics? Maybe not the best reason. Are you considering a “yes” because you could speak to an audience that inspires you and you’ve always wanted to connect with? That’s a good reason. Is the motivation to meet your sales goals for the month? That can also be a great reason for a “yes” (It’s okay for financial reasons to motivate you! Just don’t say yes to slimy financial motivation, k?) Assess your authentic motivation and see how that sits with you emotionally and energetically.
At what expense?
Imagine saying yes to the prospect in front of you and evaluate the benefit against the possible expenses. For example, “If I say yes to this opportunity, I can make $5,000, but at what expense?” You may find the expense of time is way too many hours for the financial gain. Or, “If I say yes to that 4th of July wedding with those amazing vendors we may get published, but at what expense?” You may find that missing your annual family reunion that weekend isn’t worth the possibility of getting that wedding published. Or not! Checking in with the “expense” of an opportunity is a bit of a values-gut-check to see if the gain is worth the expense. Sometimes it will be and sometimes it won’t be.
Consider your reaction to how you answer these three questions combined, not in isolation.
Let’s use an example - you’re asked to speak at a conference. Question 1, yes this supports your goals of reaching larger audiences. Question 2, your motivation to say yes is exposure to a focused collection of ideal clients. Question 3, the financial expense is a lot (did I mention the conference is in Australia?) and you’d miss your kid’s first birthday. You may decide that the expense outweighs the strong support of goals and motivation being in sync. OR you may say, the event seems perfect, I’ve been dreaming about Australia, and hey, let’s all go to Australia and consider the cost an investment. That would be for you to decide! But apply these questions and you’d be making an informed, well-considered decision… a decision that you can cross-check with your goals, vision, and intuition.
So, the next time you’re considering a business or career decision, ask yourself these three questions. You’ll be able to guide yourself to making a decision that supports your efforts to take on work, opportunities, clients, and events that mean the most to you and your biz.