Making Decisions as an Entrepreneur

Decision Making as an Entrepreneur: How to Make Choices That Grow Your Business and Give You Balance

As an entrepreneur, making good decisions is one of the most important things to master.

So what is a “good” decision?

Here at HeartCore Business™, we believe “good” decisions are those that allow you balance your drive, your determination, your desire to work hard, and your need to create space in your life.

There are two types of entrepreneur: those who work really hard, and who might consider themselves workaholics, and those who don’t want to work really hard.

The truth is, if you have a vision that really excites you, that just fires you up, then you’re going to become a workaholic.

If you’re a workaholic, you may feel like you want to build your business and make money and get results and change the world as fast as possible. You may be tempted to try formula after formula after formula.

But you’ll achieve more, more quickly, when you focus on two or three powerful formulas.

If you want to build out your business, you really need to dial in on two or three specific formulas and stick with them. The more formulas you get inside your business, the more money you leave on the table.

Jumping from formula to formula is a way to stay hidden, to avoid success.

One commonality among ultra-successful entrepreneurs is that they have big, profitable email lists—and that is why, at HeartCore Business™, we recommend building an email list.  

Some other formulas you may want to focus on: speaking, funnels, evergreen programs, hosting retreats around the world, live events, intensives, and joint venture partnerships.

Choose only two or three of these, and don’t allow yourself to become distracted by shiny objects.

Now, here are four tips for making decisions that move you toward your goals:

  1. Decide what you want next in your business.

Shanda Sumpter, founder of HeartCore Business™, wants to make The ZONE Event the premier event in the entrepreneurial space. She wants it to be highly productive, helping attendees close out the chaos, and get laser-focused on what they want to do—so they can stop chasing money and start chasing a quality life.

Be strong enough to lead your vision.

  1. Decide who you’ll have in your vision to help you make it reality.

There are two parts to this: First, get a long-term coach! A coach can help you get out of your own way. She can often see a path for you that you can’t see for yourself.

Second, hire the right people and scale up. You don’t have to do everything on your own.

Yes, at the beginning, you have to do more – but as you grow, you can hire people to execute your vision.

  1. Course correct fast.

When things aren’t working, fail fast. Don’t worry that one failure, or one misstep, indicates BIG failure.

As an example: Shanda had opened a call center in HeartCore Business™, which she’d meant to help her clients pop financially. She had what she calls “a grand vision” to help clients by feeding them leads. But it wasn’t working. It was losing money.

So she closed it down, and placed her focus on The ZONE Event, which, as we mentioned above, is her Number One vision for this company.

Successful people fail on a daily basis. Then, they course correct.

  1. Make sure your beliefs are YOURS.

If you’re considering a decision and you’re afraid to move forward with it because of a certain belief, take a moment to really dig down and determine whether that belief is truly YOUR belief, or whether it might be coming from your past; for example, from your parents or friends.

If you want to grow your business quickly, it’s important to hire a team to help you. And if you don’t have the cash to do so, Shanda recommends taking out a line of credit to pay your team. Let’s say your parents are against going into debt, and they’ve always taught you to save up for the things you want. When you hear Shanda recommend taking out a line of credit, you might cringe!

But what if the benefits of taking out a line of credit outweighed the risks? What if taking out a line of credit to hire a team helped you grow your business to profitability, QUICKLY? Take a moment to examine whether you not wanting to use credit is really your belief, or if it’s your parents’ belief. If you’re okay with it, make the decision and move forward.

In conclusion …  

Be conscious about how you’re making decisions. Get into alignment on these for tips, and the decisions you make will lead you closer to your vision, faster!

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Hi! I’m Shanda Sumpter, owner of HeartCore Business, investor to entrepreneurs on The Pitch, and named as one of Inc. 5000’s fastest growing companies in 2017, 2018, and 2019. I’ve helped business owners all over the nation grow and scale their businesses while enjoying their lives more. I believe in giving generously and being honest—all in the name of leaving a legacy.

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