Often the course of action you need to take is simple. The only problem is that the outcomes are uncertain and you will have to spend time and money to make it happen.
If you have a university or college degree then the odds are that it will take you longer to make key decisions. This has been shown in study after study, and is partly to do with the way we are educated to analyse issues.
If you have multiple business partners with different objectives to you, then decisions can take a long time, and may not even happen.
All your friends and advisors tell you to act – but you are taking all the risks. Failure can mean loss of money and at worst bankruptcy.
So here is my simple advice.
First – Start now
Second - break all big issues into smaller issues
Third– identify the main answers to your problems and then select the one that takes the least amount of time and effort. Remember, your time is worth something too, so look at existing solutions rather than inventing your own.
Fourth – look at ways of minimising the financial risks for any decision.
At the end of all this you will have incrementally taken a lot of small steps that bring you to the outcome you wanted.
Think of it as like doing a jigsaw puzzle. You take care of one piece at a time while keeping your eye on the big picture.
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