This Is When You Should Walk Away to Avoid ANALYSIS PARALYSIS – Free Business Advice

JVennardCoach's Corner, Vlog

Peter Drucker once said, “Whenever you see a successful business, someone once made a courageous decision.” But why is ‘no’ sometimes the better answer?

The role of a good consultant is to educate candidates to be competent in their due diligence so they can be confident in their final answer. We are not here to play God with your life and tell you what the right thing for you to do is. We’re here to guide you, be the resource, help you know that you’ve done all the due diligence that you can do to make your final decision. Most importantly, help you feel competent and confident about that decision.

But why is no sometimes the better answer? People sometimes give off the impression that they’re in it to win it, for whom consultants later find the process didn’t work out. On the other hand, people surprise consultants who go on to become multimillionaires in their franchise business.

So, what’s the difference, and how do you know if yes is the right decision for you?
The first way to determine if no might be your answer is if you’ve gone through all the due diligence that you can do: the educational phone calls with the franchisor or the “Book Theory” of the business, you’ve gone out and validated with four to eight franchise owners in what’s called the validation process, and you’ve culminated your research on Discovery Day. After all of that, you still can’t say yes, and you’re still looking for more information; this is a sign to say no. You can’t know everything that will happen in a business because YOU are the biggest determining factor in your success. So, when you’re looking to factors external to yourself, and you keep trying to ask more questions, it creates more questions than it does answers. No matter how much due diligence you do, there is always going to be a leap of faith.

Another sign that no is potentially the best answer is when the process is taking a long time. The process usually takes one- to two months. We’re not going to rush; we are going to work efficiently through each step. No one’s going to change their life standing still. You’re not going to walk out to the end of that diving board and stand there for weeks and weeks and weeks, trying to decide if you’re going to jump. You’ve got to have dive in. Of course, think about your final answer—you have to be thoughtful in your approach. But consider the investigation timeframe to take that leap. So, when the process is taking longer, when life happens, sometimes it’s just a sign that maybe now just isn’t the right time. That’s okay. It’s not the consultant’s job to judge you or to push you. If you start to overthink the timing of it, you’re probably going to talk yourself out of it.

Sometimes I suggest that my clients take the weekend to see how they feel because asking them manifests a sense of loss that then inspires them to say yes. But, sometimes, that doesn’t work, and they feel a tremendous sense of relief.

How do you know when you were in that analysis paralysis state? The best way to know is when you’ve done everything you could do that I’ve coached you to do: met with the franchisor, gone to Discovery Day, been awarded the opportunity, but it still just doesn’t feel like you can say yes. The best you can hope to be probably is 90% sure. Then, we start walking down the path—the plank of that diving board to take the leap. But we’re using the momentum of the process—one final bounce at the end—to then say yes and dive into that pool. Think of it this way. If you weren’t looking for growth personally and professionally, and financially, you wouldn’t find yourself at this place with so much uncertainty, and so much doubt, and so much anxiety about if it’s the right decision. Spin it positively for yourself and think of why you’re here.

Are you in the throes of trying to figure out if your decision should be yes or no? You’re not working with someone like me, but you find that maybe my help in my advice could be valuable to you? If so, I’d LOVE to offer you a free consultation. Please leave a comment below or reach directly out to The Daly Coach using the link below. And don’t forget to like and subscribe!

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