There is a fine balance between “staying the course” and “being flexible” when faced with a decision to pivot your business when a change may be needed. Knowing the difference can mean the life or death of your company. Since “real” crystal balls are no longer for sale, we must rely on our own thinking and the thinking of those around us.
When I have come to this fork in the road, I first do a self-exam to determine where I am at before asking my advisors. You should do this because it is imperative that whatever you decide, it MUST align with where you want to take your company. Remember, it is ultimately YOUR company and at the end of the day, you need to know that you are comfortable with whatever decision you make. I would ask myself:
1. What are my options? Think of all the “what if” that might be possible.
2. What are the pros and cons of each? Write them down. Be honest with yourself!
3. Look at them and circle the “pros” that align with your vision and “cross out” the ones that don’t.
4. Sleep on them over night and look at them the next day with fresh eyes.
5. Make your decision.
6. Then take it to your closest friend, mentor or whomever you trust to talk straight with you and explain it to them. See what they say.
7. Once you decide, go with confidence……….until the next pivot point emerges.
Building a business can be fun, but it certainly has its share of challenges. Good luck!