There are many trade-offs that we as business owners have to make. Sometimes these have too or sometimes it is a choice between something good and something that is great.
It might be about how much to automate, do yourself, or hire an employee. Decisions every day that we make are saying no to something else. It is great when it is between two good things but many times is it not. It is more about what is the less bad decision.
There is a process that we need to have to make sure these trade-offs are the best decision that we can make at the time. If they are not then moving on to the next one we will have to make without staying down for too long.
Learning from the past will be the thing that keeps us relevant in the future. This will also help us when we come to a situation that is like what we have experienced.
Forbes has a great article about this and it could help you. I know it did for me. Click Here.
Trade-offs for success
These could be small things to very large decisions. but how to make them successful. I would not say that I am a guru but I have some great mentors. They have talked about evaluated experience as being the best teacher. We all are going to have experiences as we go through life but if we never take time to evaluate them they will not help us next time.
Depending on how fast we are making these decisions it might be best for you to evaluate at the end of every day or every few days. For my business, I have found that weekly meetings work the best for me. I take some time to look over the last week and look at the week ahead. At this time trying to foresee what is upcoming to prepare for the trade-offs.
Not that I do this perfectly but it is getting better the more that I do it. I know it is something that can help you have a weekly meeting to evaluate and prepare.
I would like to know what trade-offs you have made by dropping a comment below or using the Contact Us page.
Your friend,
Wesley