Business is like life: its a series of risks taking endeavors with less knowns and a myriads of unknowns. Gaining clarity on what, why, who, when, where and how then becomes the most important thing you can do to mitigate your risks.
Decision is the means by which we arrive to good risk taking ventures. Thus, it’s critical to note that deciding to take risks on a particular venture or not deciding at all are both decisions.
Clearly none of us can tell the future on the market trend, economy, the stock market much less on whether the sky will be blue tomorrow. So how does one engage in calculated risk taking behavior while being at peace with whatever decision he or she makes?
Here are five questions to ask yourself before you proceed.
- Why does this matter to me? This question helps you to gain clarity of Purpose. Purpose is crucial in helping you manage your focus on how to allocate your scarce resources i.e. time, energy, and capital.
- Who is the right person to help me realize this mission? Jim Colins advises, “First who then what?” No one has ever build a thriving entity alone, the reality is that you will need a great Team to build a great business, or career.
- What outcome do I want to realize? What’s my Vision for the future? If you don’t know what your destination looks like, how will you know if and when you get there?
- When is the right time to launch this idea? Timing is everything, but beware for no one knows the future.
- Where will my business be located? Location is critical in marketing. Where will your target customers find you: online or at brick-n-mortar?
- How do I go about building on this idea? Strategy is a series of actions that you will take to get from where you are now to where you want to be.
Answering these key questions affords you the clarity of thought necessary to launch and build a better brand for better results.
Carolyne helps professionals and organizations gain CLARITY around building better brands for better results. A coach/consultant, speaker, the author of Being Grounded: 21 Days To Come Alive and Love Your Life, and a contributing writer for various publications. To schedule your 45 minutes complimentary session with her, you can write her at carolyne@vpfstrategies.com
