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Episode 134 – Making BIG Decisions: Working Backwards From Success

Aug 11, 2020

This Episode

Mark Stephenson & Marc Vila

You Will Learn

  • How to make big decisions

Resources & Links

Episode 134 – Making BIG Decisions: Working Backwards From Success

Show Notes

Let’s talk about making that BIG Decision like adding a new piece of equipment to your business, or moving into or out of a retail location, or moving your business to a print on demand model
1. Look at the opportunity objectively and from several perspectives.
– Are you doing this because you’re excited, or because it’s objectively a good opportunity?
– How will your existing customers view this decision?
2. Develop goals.
– What are the results you expect from this decision – specifically? Like if you’re planning on investing in a new UV printer, what revenues are you expecting?
3. Compare alternatives.
– Is there something more profitable I could do instead?
– Is there a better way to invest that time and money? Into expanding existing capabilities instead of adding new?
– Can I accomplish the same goal in another way?
4. Make your decision.
– Lot’s of opportunities are lost through inaction
– You’ve thought it through and the decision is sound – you’re just delaying success if you don’t pull the trigger.
5. Plan your implementation.
– You have to make sure you take specific steps towards your goal.
– Each step should have a specific marker that takes you to the next one
– Develop a basic marketing plan
– Set up website and ad accounts
– Write articles, emails ads
– Launch ads, publish articles
– Track results for 3 weeks
– Use those results to plan the next articles, ads, etc.
6. Check as you go through implementation and beyond.
– Is this working the way it should
– How’s my timeline
– Did I misjudge customer uptake? etc.
The start of a big idea is the excitement and thrill of success. Proper execution and decision making is where you achieve your dreams.
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