A mentoring colleague and I were discussing James Watt, Co-Founder of BrewDog. He is often criticised by those who may not have all the facts, are envious of his success, or fail to understand his clever marketing strategies.
At a conference, James shared stories that were particularly relevant, having grown a startup into a billion-pound business. He has encountered the same issues all business face repeatedly. He talked about procrastinating over a bad hiring decision and consulted his business coach. His coach asked, “If you were running a marathon and had a stone in your shoe, would you wait until the 23rd mile to remove it?” Of course not – because it would cause unnecessary discomfort and impede your progress!
This powerful metaphor illustrates the importance of not procrastinating and making tough decisions swiftly.
Running a small business is like running a marathon – there are always challenges and issues to solve. It’s a long game that requires endurance and the ability to overcome obstacles. Imagine running a marathon with a small stone in your shoe. Would you continue, hoping it shifts to a less painful spot? Or would you stop for a moment, remove it, and run free of pain?
Every time you avoid making a tough decision, you carry on running, hoping the problem will disappear, but it doesn’t. Eventually, you have to address it but by then you will have lost time, money, and momentum.
Many business owners hesitate over tough and difficult decisions, hoping problems will resolve themselves – they don’t! It may be an underperforming employee, a struggling product line, or an outdated system. These issues may seem minor at first, just a little uncomfortable. Without prompt action, they continue, slow you down, cause a distraction and lead to more problems.
Why quick business decisions are always needed…
1. Underperforming employees: Addressing performance issues early avoids disruption and reputational damage.
2. Difficult customer or supplier relationships: Resolving conflicts quickly protects your reputation and business health.
3. Struggling products or services: Holding on too long drains time, money, and energy.
4. Ineffective marketing strategies: Sticking with what’s not working delays retention and up-selling.
Successful business owners like James recognise that delaying tough decisions only makes things worse. The sooner you address a challenge; the less damage it causes you and your business. If an employee isn’t the right fit, letting them go now is better than letting the matter continue. If a product is failing, cutting losses early prevents even more financial strain. When a marketing strategy isn’t working, stop throwing good money at it in the hope it will succeed.
A small business has limited resources, and wasted time is wasted money. The quicker you overcome challenges, the sooner you can refocus on growth.
Business owners dislike conflict, which is a major reason for procrastination. However, they also dislike underperforming businesses, which should be a greater incentive to take action quickly.
Of course, working with an experienced Business Coach or Mentor, such as me, will bring much-needed support and experience in the face of challenges and difficulties – it will help make quick decisions easier. Get in touch to explore how I can help!
