It’s Not About Making Great Decisions

Summary

• When I make decisions for my business, I always consider the worst case scenario to see if I could handle it. It's important to be okay with the potential outcomes before moving forward.
• Growth in business isn't just about one amazing decision; it's also about being careful not to make a really bad one. This way, you protect your business from big mistakes.
• Sometimes you have to think about all your choices and ask yourself which one you'd be alright with if nothing else worked out. It's like a way to check if you're making a safe bet.
• Remember, even if you make a choice and it doesn't work out, you can always try something different. It's not the end of the road, so don't be afraid to make a move.

Video

How To Take Action

I would suggest implementing the habit of considering the worst-case scenario whenever you have to make a business decision. Think about what could go wrong and if you're okay with that outcome. It's like having a safety net. Ask yourself, "Can I live with this if things don't go as planned?" This will help keep your business safe from big setbacks.

A good way of doing this is by writing down your choices. Next to each option, list the worst thing that could happen and see which one feels okay. Choose the path with the risk you can handle. This way, it's like making a safe bet.

Remember, a big part of growing is not just making fantastic decisions, but also steering clear of really bad ones. So be careful, but know it's okay to take a step. If a choice doesn't work out, that's alright! You can always pivot and try a different approach. It's not the end of the road. Think of it as a learning experience that shows you what not to do next time.

When you're unsure, picture choosing an option and everything else fades away. Which one would you be most comfortable with? That's probably your best bet. It's all about finding that balance between risk and reward. Keep your business on the safe side, but don't be too scared to move forward. Change is part of growth, and it's okay to learn as you go.

Quotes by Leila Hormozi

"if I made this decision and the worst case scenario did happen would I still be okay with it"

– Leila Hormozi

"many times in business there's a lot of risk mitigation"

– Leila Hormozi

"it's not making one amazing decision that's going to make your business grow"

– Leila Hormozi

"it's making sure that you don't make a stupid decision"

– Leila Hormozi

"which one has a worst case scenario that I would be okay living with"

– Leila Hormozi

Full Transcript

if I made this decision and the worst case scenario did happen would I still be okay with it many times in business there's a lot of risk mitigation like it's not making one amazing decision that's going to make your business grow it's making sure that you don't make a stupid decision which one has a worst case scenario that I would be okay living with all the options you've got let's say that you just eat on all of them which one would you pick it's not like you can't do something else if this doesn't work