A “gut feeling “is a real thing. So real in fact that I would be willing to bet that most decisions we make are based on a gut feeling of some sort. This article is not meant to scare you about mistakes that will be made but rather encourage you by realizing your gut feeling will be developed and honed as you go along. How much time and money you want to invest into your Gut Feeling is entirely up to you, and unfortunately one of the first things you will learn as you go along are your strengths and weaknesses. Some people have the propensity for rational and safe decisions, which could be because of the stresses of raising capital for the business or the fact they have worked for a boss for many years and are unfamiliar with the feeling of risk. Others might be too risky and cavalier with their decisions. Both types of people can become great entrepreneurs if they manage their “gut feeling”.
I have mentioned it before, but practice makes perfect so you will need to accept that practicing involves failing. Turning failures into learning situations is something that will be covered in future articles, because there are a few tricks that will make this easier. These will involve a series of steps that you can follow (a systematic approach) as well as the dreaded (for me anyway) mindset change (psychological approach). At the end of the day most challenges you face will be there because of a mistake you made in the first place. Learn to deal with that, identify the mistake and rectifying it will enable you to be the type of entrepreneur that will instinctively make the right decisions most of the time. So, the big question I find myself asking is, how do I develop a gut feeling when I really need to minimize the margin for error? I wish the answer was as simple to do as it sounds but the best solution I have is, to go with your gut! Here I am telling you to trust your gut right after telling you that you need to develop your gut feeling. Think about it though, it makes sense, doesn’t it? Your initial gut feeling will always lean towards your strengths and when you are at a difficult cross road you want to rely on your strengths.
Let’s say you need to decide between two various suppliers and they are identical, in fact you have at this stage evaluated all the factors like price, product, distance, delivery schedules, reputation, as well as many other factors. Now you have met with both and you enjoyed the meeting with Supplier A more than Supplier B. This could be due to factors like him/her saying things that resonated with the way you feel or even something trivial like also enjoying a game of golf. Whatever the reason you have, whether you like it or not, you formed a “gut feeling” about these two choices. Your Gut Feeling is therefore telling you to go with Supplier A. Now the dreaded happens and your supplier delivers late or lets you down. You can deal with that far easier because your gut feeling made sure you chose a guy you can better have a conversation with. How much easier to phone Tom from Supplier A and say, “Hey Tom, I know you also feel like service should be reliable, but now I am experiencing bad service from you. How about we meet up for a game tomorrow and you can make it up to me by having a solution by the time we tee off?” – This is also a fantastic way to get a free game 😉 If you had chosen Supplier B you would have put yourself in a tough situation by needing a far more aggressive approach from the onset.
A nice little example like that does simplify my suggestion but the reality is that sometimes we need simple solutions. Over complicating decisions, choices, solutions and so on is something we all do. We do this because we are drawing up a list of Pro’s and Con’s or following someone’s advice on steps to take when making decisions. The best way to go without these is to harness the power of the gut feeling!
If your gut feeling is reliable is something you will probably always worry about, but I feel that is a good thing. Not so much to end up doubting yourself, but to rather serve as a reminder that you constantly need to evaluate your decisions. Easier said than done, but the truth is that if you make a habit of evaluating your decisions whether you made them using your gut feeling or not you can learn a lot about your decision-making strategy.
As always, thanks for reading, I trust you found this useful and encourage you to help me by sharing this article on my social media options below.