Most successful entrepreneurs are inclined to not spend too much time when making business decisions. In every cases their experience has taught them that getting results comes from actually taking action and not by considering the possibilities. In fact spending too much time deliberating over their decisions can actually 'prevent' them from taking action at all and thereby experiencing any success!
Here are 3 ways in which getting 'too' caught up in trying to make a decision can lead to severely limiting your own success!
Introduces Doubt
While considering the 'what if's' it is only natural after a while that the 'possibilities' start the include problems or perceived barriers. Now your 'careful' consideration has evolved into avoiding problematic situations which obviously begins to dampen your enthusiasm or even willingness for taking action. Being overly analytical involves looking at something from every angle, good or bad, and this will definitely slow down your ability for making business decisions.
Limiting
As mentioned above, the more time you put into making business decisions the more likely you will develop reasons why you should NOT make that choice. At this point everything tends to be put into slow motion! When and if you do come to an affirmative decision the results you experience may not be quite what they could have been if you acted more quickly. This is especially true in the world of commerce which is typically affected by rising and declining trends and demand.
Complete Elimination
The worse case scenario when delaying your decision making is analysis paralysis which is not just a catchy phrase but rather something that can have a negative impact on your life. Taking too much time to deliberate can easily 'freeze' you with too much doubt, real or imagined thereby preventing you from taking action at all! You have now completely missed out on any potential the opportunity you were considering may have had. Even worse you are 'cheating' yourself of the experience and lessons you would have benefited from if you had decided to get involved as opposed to remaining a spectator!
Always remember, life is NOT a spectator sport and to get something out of it you must participate!
There is a reason many successful entrepreneurs got to where they are at and it was not by sitting on the sidelines. Making business decisions is something where careful consideration needs to be given however too much thought can actually 'prevent' any action from being taken. It is normal to hesitate when dealing with the 'unknown' but as an entrepreneur this is something you must learn to overcome! Getting results of any kind only happens after taking action and not just simply thinking about it! As discussed above it is very easy and even common to unknowingly limit or even eliminate your own success by over-analyzing things. This tends to introduce doubt and also steal valuable time that could be put to better use! Always remember, no guts no glory!