STOP AND SMELL THE ROSES

Too often the adrenaline in our system takes control of our common sense and we rush to complete a new project without doing the necessary “thinking” as to the details and the ramifications of proceeding.

“Fast” is an important action word in the life of a small business; many things have to be expedited in order to take advantage of an opportunity. I am an advocate of “Just Do It” but not without a pause to understand the risks and rewards associated with quick actions.

There is no specific amount of time to think over a quick action opportunity, but you should always have time to consider the following questions and answer them in writing:

1. Why is fast action required?
2. What do I gain if I go forward with this opportunity?
3. What do I have to set aside in order to take this new path?
4. What are the projected financial gains/losses from this action?
5. What are the costs associated with this action?
6. Have you spoken to your mentor or peer group about this?
7. What is the time required to implement this new action?

A few of these questions may make use of a T chart with pros on one side and cons on the other.

Answering these questions may only take a half an hour, but it gives you a chance to reflect on what you are considering and takes away the impulsive action.

Nobody is too busy, it’s just a matter of priorities.