Got the Guts?

To stick it out?

From the Wizard Chronicles:

Taking Risks: You Can’t Pull The Trigger Halfway

By Wizard of Ads Partner Michele Miller

Everyone talks about taking risks.

But how many are willing to take a risk and follow it through to its inevitable end?

How many, as my partner Roy would say, are willing to “pull the trigger and ride the bullet?”

Not many, from what I’ve experienced.

I’ve worked with small business owners who won’t trust their own instinct. The easy way out is to ask for advice from anyone who will listen (usually numbering in the dozens), then plead confusion. The result? Inaction at worst; mediocrity at best.

I’ve encountered small business owners (with marketing budgets that could afford to take a risk or two) who agree pull the trigger, and then freak out with doubts. They either try to do an about-face, or start brainstorming ideas in order to dilute the risk.

“Maybe we should only take on part of this project.”

“Let’s not do the entire promotion this time.”

“Let’s not give away such a big prize.”

“Let’s start small.”

“Let’s start slow.”

Have this happen a few times, and you end up with a company full of employees with tragically low morale and extremely high turnover. More often than not, the company itself does not survive in the long run.

At some point in your career – and in your life – you’re going to need to pull the trigger.

But before you do, remember this: you can’t pull the trigger halfway. Once that sucker leaves the barrel, it’s going somewhere. Momentum can be your friend or your foe.

When thinking about risk, always ask yourself the Two Most Important Questions every business owner needs to know.

1. Do we have the skill?

Do we have the resources—money, time, energy, personnel – to make this happen? If we don’t, are we willing to devote more resources or do more work to make it happen? Is it the most appropriate step for us right now?

2. Do we have the will?

If we decide to try it, do we have the endurance to go the long haul and see this through to its end? If things don’t work out as we’d hoped, do we have the guts and flexibility to adjust to the situation, or will we cave in?

Then, decide: can you not only pull the trigger, but ride it for all its worth? Because that’s what it’s going to take to survive this next era of small business ownership and have the firepower to pull away from the pack.

Editor: Hire Michele Miller to speak at your next conference.

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