All, Blog, Business Planning, Business strategy, critical thinking skill, self-evaluation, Strategy, successful venture


Performing an honest self-evaluation is a critical step in deciding if you should start a business. Behind any successful venture is typically someone who has taken the time to do the work up front before jumping into business ownership. A self-evaluation is part of the initial work, and requires you to take a close look at what it will take to start and grow your business at all levels—including time, money, and resources. Those who think through the entire process BEFORE they actually begin the process of launching a business will be far more prepared.

Decision-Making Skills
There are two very different types of decision-making skills that may be needed to make the right decisions for you and your business. These are quick thinking skills and critical thinking skills.

First, do you have quick thinking skills? Those are skills that show your ability to think on your feet when faced with an immediate decision that might have a dramatic impact on your business. Generally people are faced with making tough decisions when they are put on the spot. As a leader of your business you will be tasked with constant circumstances that require your immediate response, and you will need to be able to make logical decisions under pressure. Often these immediate responses will play critical roles in your businesses success. Some things that might affect your decision-making process are how you were raised, your religion, political views, education, and your core beliefs.

The next type of decision you might be faced with making is that which requires critical thinking, more in-depth thought and deeper analysis. Critical thinking becomes much easier when you utilize training and other available resources to assemble relevant facts. This is one reason to keep building knowledge through reading books and articles, and also seek out knowledgeable people through relationships, organizations, professional contacts, and other business owners who can support you when you need to make a critical decision.

These are just two different situations. Keep in mind that thinking ahead and anticipating problems or questions will help put you in a better position to make the right decision. In general, try to avoid making a rush decision, but also show leadership and confidence in your decisions while admitting when you make a mistake. Keep in mind that sometimes you must also trust your gut instinct.