How To Make Bold Business Decisions
Decision-making is a necessary skill for entrepreneurs, one that can be cultivated and refined over time. Some of the most successful entrepreneurs are great decision makers. They understand the importance of making sound decisions without taking an eternity to do so. Time is money. As an entrepreneur you have to know when to seize opportunities that align with your business goals. You have to decide when it’s time to make changes. As the leader of your organization you are responsible for making decisions that promote growth – or you could sadly find yourself out of business.
I recently sat down with Kim Boudreau-Smith, the CEO of Bold Radio Station and of Kim B. Smith, Inc., to talk about this. Kim has built her business by making bold decisions. A trailblazer for women entrepreneurs, Kim makes her own rules and relies on her “internal process” to make decisions about her business.
When Kim realized that she wanted to write another anthology, and couldn’t find a publisher to lead the project, she decided to launch KBS Publishing. When I asked Kim how she made this decision so quickly, she explained that it wasn’t a quick decision, but it was sound and well-thought out. “I worked hard planning and strategizing behind the scenes for 90 days before doing a word-of-mouth launch, then a soft launch. Now we are planning our official launch for January 2016,” Kim explained.
I wanted Kim to share why she decided to incorporate publishing into her business model. Kim believes that business owners need to identify and skillfully master at least three platforms for marketing and visibility. Expanding from online radio to publishing made sense. “I wanted more than just a voice medium (radio) for women entrepreneurs. The next logical step was print,” Kim shared.
My takeaway from my conversation with Kim Boudreau-Smith is that your business decisions should not be grounded in fear. Your decisions should be calculated and in alignment with your goals and mission.
Ask yourself these key questions the next time you have to make a decision:
Does this decision align with my vision and mission?
Will this decision create a desirable outcome or one that I should avoid?
Have I done enough research before making this decision?
Am I making this decision out of fear or is it based on sound facts?