As business owners and CEOs we all want to make better business decisions.
But let’s be honest, numbers don’t lie.
It doesn’t matter if you have $10, $1,000, or a million dollars in the bank account.
The way you feel about those numbers doesn’t change what the numbers are.
So when people make business decisions based on how they feel, it scares me.
It scares me because I get flashbacks to when doing the same thing in the past with the stock market, but that’s a long story…
So I remember how those types of decisions never led to anything good, and it was because I noticed 2 things would come into play and 1 was missing.
Emotion
The more we get emotional about something is when we most often make mistakes. Have you ever noticed that?
You get upset then yell at someone you didn’t mean to or get sad and stop producing as much because emotion enables you to make mistakes.
But when you bring money into it… people get all over the place!
Imagine how day traders feel when they’re investing thousands of dollars everyday in the stock market just then see a slight dip.
For those of you who don’t know what day traders do, they invest in the stock market, usually when it opens up just to buy a lot of shares with prices ranging anywhere from pennies on the dollar to thousands of dollars then they quickly get out the same-day.
So you can imagine the stress and anxiety going through someone’s head as they see a slight dip happening in price, with THOUSANDS of dollars on the line.
Emotion enables us to make mistakes, so what does it take to make less?
Intelligence
This may be a given, but business owners require intelligence!
You may have heard the saying “business is an intelligence game”, and it’s true because it really is.
We look at our financial reports, see what’s making us money, what’s losing us money, do more of what’s making us money and fix what’s losing us money.
That may be easier said than done, because it depends on how emotional you let yourself get in your business.
Are you letting yourself get worried about how much money the business is making because of how much you’ll end up with or how much you can put back into it? Big difference.
So with intelligence comes better decisions followed by less risk.
But if intelligence helps create less risk, what helps create intelligence?
Thinking
You’re probably thinking, “Well intelligence is just smarter decision making.” and that’s true, but it doesn’t tell us how to get there.
I can be unemotional about investing one million dollars in the stock market, but if I don’t think about it first I can’t weigh out the outcomes.
So before any decision is made in your business it’s always important to weigh your options and THINK about your situation and ask yourself plenty of questions about it.
If you’ve ever noticed a smart business owner say, “Let me think about it.” it’s because they NEED to because they know every decision they make can be a potential risk.
I believe this is why so many people admire the statue of the thinking man.
Plus, if you didn’t know, urgency leads to bigger holes in pockets because I’ll let you in on a little secret… That’s a marketing tactic used to increase conversion rates from consumers so you don’t want to be on the receiving end of that.
Business is risky enough, so one of the only ways to reduce that risk is to take some time to think about it, not sit on it, but first think then decide.
I don’t exactly remember where I was when I first heard the saying but it stuck with me just as I hope it can stick with you too:
“Intelligence and emotion are almost polar opposites, so if business is a game of intelligence, the more emotional we are in our decisions the further we move away from intelligence.”
So the more emotional you are in your business, the more risk you bring into it, that’s why big companies have board members when you think about it… to reduce risk!
That doesn’t mean to not be passionate about what you do, it means to think of your decisions to the best of your ability.
We as business owners want to grow and expand, and that’s exactly what my Marketing Agency helps with.
We’ve even earned a spot in the Inc. 5000 for the fastest growing businesses in the nation at number 438.
Now we’re helping other businesses get to that level too so we can one day all stand side-by-side on the Inc. 5000.
If that sounds like you, someone who’s ready to take it to the next level then give us a call or book a meeting with one of our marketing specialists.
We’re always open to expanding businesses, it’s what we do!
Book a meeting: https://www.freeninjamarketing.com/schedule-appointment1642112245283
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