Don’t Let Indecision Be Your Decision

Any entrepreneur can spend 10 minutes scanning economic headlines and find conflicting, often polar opposite information on economic indicators and where the economy is headed. It is indeed a puzzling time for the business owner. And while election years typically bring some uncertainty, this time around, all bets are off. A recent Goldman Sachs survey showed that “small business owners are more undecided about the election than the general public.”

While still generally optimistic, we are seeing countless business owners slowly continuing down their current path, or not moving at all. On the surface, it makes sense to a degree. The pull of fast growth or a potential business sale feels still too distant to pursue, and on the flip side, operating results are not bad enough to create any back pressure. But this middle ground can be problematic.

I have often described the journey of a small business as climbing a mountain. Sticking with that example, many business owners are sitting in a small camp halfway up Mount Everest. The question is, is a fierce storm ahead? Will the weather clear or just stay consistent? Regardless of the answer, what is critical is active decision-making and a logical, unemotional process to inform those decisions.