One of the biggest problems we encounter as a consulting business is business owners who rely purely on their ‘gut’. For business starting up it might be a fine technique with little problems arising. Some owners take this to extremes conducting pivotal decisions, hiring tasks and even strategic plans simply based on some elusive ‘gut instinct’.
This can work out for a while, but often businesses and entire companies grind to a halt because gut instinct can only go so far before it fails. While we are often told to ‘trust your gut, it’s never wrong’, it can actually cause more problems than it solves. Sometimes, just because it feels right doesn’t actually make it the best decision for your entire business. With employees and customers relying on your business, not to mention your goals for success, it might be worth a second look at why your gut is not the best method for successful decision making.
1. It feels safe because it keeps you in your comfort zone. Your gut primarily keeps you safe by avoiding unfamiliar territory. Many business owners can attest to the ‘voice of experience’ guiding them with answers that simply ‘feel right’. However, businesses that truly want to grow need to be delivering different responses to the same questions. They should also be operating in territory that is unfamiliar. As a business owner, the most dangerous place to be is your comfort zone.
2. You build up the wrong advisors. When starting and running a business, friends and family can be excellent support networks. However while great encouragers and motivators, your family and friends are often too concerned with their relationship with you to provide great advice for the truly hard decisions. Not only is this the stage when most businesses should look at hiring professional advisors, it is also crucial to have impartial advice. A business consultant is one way to gain access to the right advice, and know that your advisors will not be afraid to confront you over tricky decisions or challenge your assumptions.
3. It avoids Risks. Your gut is incredibly unreliable when it comes to taking risks. However you want to classify it, instinct, experience or talking sense, your gut will take big ideas and water them down. Those big dreams and plans are easily pushed to the side when your gut makes your second guess your decisions. Even when backed up with empirical data and advisors, it is easy to let your gut convince you into missing opportunities.
Do you wonder why your business is not growing or developing as you planned? As one of the top consulting companies, we can help you take a hard look at your business decisions. If you are making too many decisions based on your gut, we can help your develop better decision habits.
If this sounded like you, it might be time for a change.
Contact us today to see how we can help you.