Taking important decisions on a daily basis is something normal for every entrepreneur, yet this constant pressure and wondering if you are making the right choice can be really stressful. Different people have different decision-making style and embrace the process or taking a decision according to it.
In the data-driven world that we live in, taking business decisions by ignoring the information you have is foolish. Yet, sometimes it feels that even the data leads you to one direction there is something in your gut that tells you to go in the other. This is where intuition comes up on the stage.
Trusting your gut is important in the business world, but you should be careful when you take important decisions based on what intuition tells you. There should be a balance between intuition and data-driven decision-making process, yet there are situations in business that you can be comfortable in going with your gut like the following three:
Choosing a co-founder – This is the most important decision that you are going to make at the beginning of your entrepreneurial journey. If the partnership doesn’t feel right and you are skeptical, it is important to trust your intuition – it doesn’t matter how good it looks on paper.
Hiring – Choosing the people to join your team is a tough one. The team is the core of your business, so you need the best players on board. Sometimes people with great resumes, experience and recommendations aren’t the perfect fit for your company. If there isn’t chemistry and an immediate click and you feel that deep in your gut, don’t go for it.
Investors – Startups need cash, no doubt for it. But bringing an investor on board is such an important move and you need to look much further than the money. Many entrepreneurs feel lucky just to have somebody interested in writing them a check and forget that the investors are long-term partners. If in one hand you are happy to have an investor interested in your business, but on the other hand something doesn’t feel right and your intuition is telling you to step back, maybe you should.