Gleb joins me today to share where so many business leaders go wrong when it comes to making decisions for their business. He highlights five questions to ask yourself to avoid “decision disasters” and the role of cognitive biases when it comes to making business decisions. Gleb also discusses whether trusting your gut instinct is truly the right move, what the SWOT analysis is, and where people often go wrong when it comes to the SWOT analysis.
“Often the things that are comfortable to us are the worst things for us.” – Gleb Tsipursky
Listen to the podcast below:
Here’s what you’ll learn in this episode:
- Why you shouldn’t trust your gut when it comes to making decisions as a business leader
- Why half of all small businesses fail within the first five years
- When you should – and shouldn’t – trust your gut instincts
- Five questions to ask yourself to avoid “decision disasters”
- Why it is essential to look at what is uncomfortable, not just what is comfortable
- How judgment errors and cognitive biases impact decision making
- The SWOT analysis and how it provides “false comfort”
- How to be aware of your cognitive biases when making business decisions
Resources Mentioned:
- You Are Not So Smart Podcast
- Trello
- The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It by Michael E. Gerber
- Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz
Connect with Gleb Tsipursky:
- Disaster Avoidance Experts
- Gleb Tsipursky on Facebook
- Gleb Tsipursky on Twitter
- Gleb Tsipursky on LinkedIn
- Gleb Tsipursky on Instagram
- Gleb Tsipursky on YouTube
- Never Go With Your Gut: How Pioneering Leaders Make the Best Decisions and Avoid Business Disasters by Gleb Tsipursky, PhD
Get More!
Want to hear more episodes of The SmallBiz Chat Podcast? Subscribe on your favorite platform so you never miss an episode!