Why You Should Take the Bold Decisions

Why You Should Take the Bold Decisions

SHARE

No plan survives contact on the battlefield. Sometimes change can confront you and your dream venture, forcing you to either run or take very bold decisions. Here are some common change triggers:

Your core idea is obsolete

Just as you are launching your business, the market may have shifted to different products, or consumer patterns may have changed.

The temptation for entrepreneurs is to keep persevering, putting effort and investing in a space of diminishing returns when it may be sensible to change tact.

Your commercial engine has all but stalled

Outputs no longer justify your inputs. There is no traction on sales, costs are spiraling, and you do not have innovative thinkers around you to engineer a turnaround.

You may need to scale back costly activities, off-load non-performing products or worse still, force-release the weak links in your team.

Your vision and that of your partners are suddenly at odds

Even the best of partnerships can go wrong. Steve Jobs was fired at Apple, the company he had founded. Yahoo founders suffered the same fate.

 

Entrepreneur-Newsletters
Entrepreneur’s daily tips & insights delivered direct to your inbox.

Corporate hijackers can engineer brazen theft of ideas and dreams because they never see as far as the limits of your founding vision. Boldness of belief, however, can reincarnate your entrepreneurial vision, giving it a whole new birth.

Related: Get Out of Limbo: How to Go From Dream to Decision

Lizwe Nkala
Lizwe Nkala is an influential corporate strategist working at executive and board levels of large corporations. He is the MD of Flamingo Moon Consulting and a founding partner of the Strategic Thinking Institute, where he coaches executives and presents tailored strategic thinking seminars and webinars, and provides strategic thinking tools and templates on a subscription basis for corporate clients. For more, visit www.flamingomoon.co.za