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“Choosing” as a powerful weapon for growing a small business

by Mitch Solway - October 9/2009

One of the most exciting aspects of launching or growing a great small business is the sheer thrill of all the opportunities in front of you.  You’ve got a great business concept, tons of energy and there is nothing but opportunity in front of you.  Whoo hoo!

We often refer to those opportunities at FreshBooks as “Green Fields”.

At the same time, as exciting and appealing as all of that opportunity is, it can also pose an equally powerful threat to your growth.  On more than one occasion I have referred to this threat as being “paralyzed by choice”.

Are you paralyzed by choice?

The reason you are paralyzed is that you are a small business constrained by your own resources.  There is only so much you can actually do.  Trying to deal with all the opportunities at once can become overwhelming.  You start and stop so many things that suddenly you can’t make any of that great potential happen.

That’s where “choosing” becomes the single most powerful enabler of growth.  And its power is not in selecting…it is really in eliminating.   By choosing you are both deciding what to do and what not to do.   That’s powerful.  And once those choices are made, you and the rest of your team can start to really mobilize around those choices.  Every day people can move and make decisions using your choices as the guide – and eliminate all the other opportunities from the decision equation.

And that’s when things really start to happen and you begin to advance your efforts.  All of a sudden you feel like you are moving forward and growing.

Making choices is more important than making the right choices

I’ve often said that the act of making choices is more important than making the right choices.  And I believe that because it drives you into action and results.  And, with so much opportunity in front of you nearly all of your choices are going to be good ones.  So even if you choose your fifth best idea to go forward with instead of what would have been your first that’s great!  At least you move that forward.

And, in the unlucky and unlikely event that you do make a bad decision, at least you will figure out early that it was a bad decision because you moved it forward fast enough.

Finally, the beauty of choosing is that you can keep choosing.  Once you’ve moved one agenda or priority forward sufficiently, be sure to look at your choices again and see which might be best next.

So, if you find yourself facing the “Green Fields” of opportunity in front of you and feeling a bit “paralyzed” then choose your way out.   Make your choices, get in action behind them and start growing!

The fastest way to track your time and invoice your clients is with FreshBooks, the leader in online invoicing. Sign up for your free account!

5 Comments (add comment)

Oct 9/09
10:59 am

You hit the sweet spot with “its power is not in selecting…it is really in eliminating.”

In any business (start up or a huge corporation), you’re going to have limited resources so it is best to keep what you do simple. For example, Freshbooks concentrating on solving invoicing problems for web designers hen expanding outwards.

Solve one or two problems well for a certain group of people, then move onto solving other people’s problems.

Oct 9/09
11:00 am

[...] This post was mentioned on Twitter by FreshBooks and IACEZ. IACEZ said: [POST] Growing is fun, but don't be paralyzed by choice: http://bit.ly/2wxr7h RT @freshbooks http://bit.ly/2wxr7h [...]

Oct 12/09
7:37 pm

Mitch,
Great post. I have seen many entrepreneurs lose ground because of indecision caused by a fear of failure. As a mentor of mine has always told me when contemplating a major decision; “If things don’t go as planned, will you be able to re-adjust your approach? And if the worst case scenario plays itself out, will your survive the experience?” If the answer to both questions is yes, then go for it. Nothing is gained by indecision.

Want to double your rate of success? Then start by doubling your rate of failures. Make a decision and move on.

Oct 16/09
10:34 am

There’s a great TED video on “the paradox of choice” by the psychologist Barry Schwartz. He argues essentially that less choice makes people happier. Don’t take my word for it: http://bit.ly/4pl1qg

Nov 3/09
9:16 pm
Sam K. says:

I am a current FreshBooks customer, I think it is an amazing product. I love how all my clients can pay with their existing PayPal and Google Checkout accounts. One feature which I believe would make FreshBooks the bar-none standard for freelances is some sort of CRM built in, beyond the basic projects and tasks along with time tracking. I currently use Highrise from 37Signals as well and I would love to be able to have a sign unified system. Do you think this will ever happen?


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