How Much is Your Business Worth?

Second-guessing your business decisions is the worst thing you can do. While scaling and exiting my first business I learned doubt is deadly.

Any uncertainty you feel ripples through your business. It affects your team’s confidence. Even your clients can feel it.

3 ways doubt will sabotage your success:

1. Loss Aversion. You know that voice in your head that says, “You’re making a mistake. Don’t do it, it’s too risky.” It usually happens right after you decide to try something new.

It’s your brain telling you it’s safer to stay the same. It’s safer than risking what you have for the potential to grow your business.

Don’t listen.

Many large-scale studies confirm that loss aversion is hardwired into our brains. While it may have served us well as cavemen, it’s not the right strategy for growing your business.

The next time you think about taking a risk, fight loss aversion. Do this by priming your mind. Tell yourself that each option has the potential to work.

Given that assumption, which choice best aligns with your growth goals?

2. Decision Fatigue. Agonizing over decisions leads to decision fatigue. Like raising your prices, choosing new software, and revising your remote work policy.

It’s a relentless drain on your mental energy and makes decisions harder. Don’t wait for the perfect moment or the perfect decision. Decide, act, and then check the results.

You can always decide again.

3. The Myth of the “Right” Decision. Here’s the biggest secret of all: there’s never only one right decision! There’s the decision you make, and you make it right, with the way you think, feel, and act afterward.

Two business owners can make the exact same decision. One secretly thinks it’s too risky, feels uncertain, and doesn’t commit—that’s why it doesn’t work.

The other thinks, “I’ll either get what I want or get more information, and either way I win.” They move forward with confidence and energy.

Guess which one is more successful in the end?

Fortune favors the bold. Take decisive action in business.

Remember when you used to LOVE your business? Find out how to leverage your brain and manage your mind in my bestselling book, Loving Your Business. Separate your identity from your business and turn it into a scalable asset that can run without you. That’s a business you’ll love – and other people will too. Get the first chapter here!

 

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