When making business decisions in an ideal world, one could ask the right questions, to the right people, at the right time, and receive the right answers. That way, we would never make any mistakes.
Having made a few mistakes of my own (some greater than others), I believe the best form of learning is simply by doing. I am, however, a big believer in asking questions. I love knowing how people got to where they are, the journey they took, and the mistakes they made along the way.
From a consumer perspective, we all love stories. Stories are easy to identify with, and easy to remember. When approaching business strategy, I encourage you to listen to other people’s stories. While it’s important to learn from your mistakes, it’s arguably more beneficial to learn from others.
Here it is important to be selective, so make sure to wade through the sea of information, and find gems of knowledge that resonate with you.
As clichéd as it sounds, you really need to trust your instinct when it comes to making business decisions. Early on in my business, I was seeking advice from a friend’s father about whether I should bring someone else into Yummia. He said to me, “Business is like a marriage, at the end of the day only you know what is right for you. Nobody should have to convince you to marry them, and the same should go for partnerships.” His advice is something I have taken on board, and has proven right time and time again.
In business, always take the advice you are given on board, seek stories from others, listen intently, and be interested. At the end of the day, however, decision-making needs to be based on what feels instinctively right to you.