Knowing a Questionable Move When You See One
Have you ever watched other businesses and questioned one of their moves? I know I have. There are several examples this week alone. At times there are parts to the story that we don’t see, therefore, we cannot understand. Having the full picture would help it make sense. Other times, the move is explained, but still does not make sense.
What are some of the questionable moves a company makes?
There are several examples I can think of when it comes to questionable calls. Here are a few.
- Rebranding
- Moving into a market
- Moving out of a market
- Merging with another company
- Acquiring another company
What can I liken it to?
Ouch. Here’s the tough part. If you really feel like you know a mistake has been made, it can be likened to knowing a person is walking into a trap. It can be likened to knowing the main character in a book (the company), has just walked into a dark room (think of a close-up shot on the unsuspecting victim in a movie) and a shadow moves across the floor behind them. You know their time is limited, but there’s nothing you can do to help.
What can you do to avoid the same fate?
There are a number of things you can do to avoid making bad decisions. Here are some ideas.
- Utilize a board of directors.
- Keep a trustworthy advisory council.
- Have accountability “buddies”.
- Ask your spouse or significant other.
- If you are fortunate enough to have opinionated people around you, then ask their opinion.
- Start by asking your clients
- Check with prospects
- Ask employees
Wrap it up!
I know decisions are made every day. Some are good. Some are bad. I have made my share of both. Avoiding bad decisions can be difficult. Utilize resources. Sleep on it.
