How Do You Know When Enough Is Enough? Video

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? How do you figure out which amount of information is "just right?" Where do you stand

Let's start with one of the biggest issues. I'm often asked: When is "enough" information really enough?

I can't tell you how many times I've heard this question from "newbie" business owners and veteran business leaders alike.

Stop convincing yourself that they are just not smart enough. You can't possibly know everything, so don't even try. All you need to do is recognize what you don't know.. and fill in the gaps along the way.

Dan Scott put the urgency in perspective: "Often we keep acquiring more information so we can put off pulling the trigger... at some point, you've got sufficient information and should just act".

I agree- good point Dan.

Think about it:

Although it's great to have an impressive vocabulary, you don't need to memorize an entire dictionary in order to enjoy a good book. If you don't understand a new word, simply look it up. It's that easy.

Trust yourself - and your brain. Albert Einstein couldn't remember his own telephone number- because he knew it was in the phone book

Einstein didn't question his knowledge of the unknown, even for little things like remembering a phone number. You shouldn't either.

Sometimes knowing how to access information is more important than the information itself. Remember that - I'm sure it will become more and more important to you as your business grows.

Here's a puzzling question I hear a lot, (it's funny when you say it out loud): How do I know that I'll know what I need to know, when I need to know it?

Questions like these reveal a disturbing unease about strategic business process - and a lack of confidence among business owners. The questions don't lead to business solutions; they just heighten our anxieties and pick at the scab of uncertainty that irritates us all.

"What if I can't keep up with my competitors?"

"What if I don't buy every business book, read every e-mail, and scan every RSS feed?"

"What if I miss the one bit of information that could truly set my business on fire?"

"What if ??"

This kind of paranoia freezes growth opportunity. It discourages risk-taking and leads to indecision, inefficiency, and ultimately, paralysis. This is no way to run a successful business.

Information anxiety plagues many people. But the great ones are able to sort through the clutter and get to the part that really matters - the information that leads you to take action.

Again, knowing how to access and interpret information is sometimes more important than the information itself.

Think about this example: What turns the lights on in your house? Simple answer: A light switch.

You don't need to know about volts and amperes to turn on the lights. You just need the lights to work so you can see what is in front of you.

This is what so many of us seem to have lost - The ability to see what is in front of you.

Instead, we block our own view, and distort our business vision, with needless stacks of irrelevant information. The "stacks" don't have to be physical. Even a virtual impediment is a blockade to creativity and productive thought.

Oh yeah, one more thing Don't be afraid to make mistakes.

Let me share a secret with you.

If you've accomplished anything at all - then you have valuable experiences locked inside you that are just waiting to be rediscovered

Two strong reasons - you know what has worked and what hasn't in certain situations. This will ALWAYS provide the best information you need to succeed.

Most likely, no other business guru has ever shared this secret with you - because, if they did, it would be bad for business.

But I'm willing to do this for you because I believe you really must understand this.

The most important, impactful and relevant information I ever received that has helped me be successful has come directly from my own experiences - good and bad.

You are the best source of information for your business.

You know what works best and what doesn't. You've been in the fire and you've probably been burned by a few failed business decisions.

So what? This is just what you need to assure success in the future.

Your experiences, your passions, your successes and failures, all come into play as you move forward in any business venture. Each bit becomes a pebble on the path toward future growth.

Don't turn that pebble into a boulder by blocking your ability to move forward with confidence.

My clients tell me that watching me make a mistake, rebound and leverage it for future growth has inspired them to really change their way of thinking. They are no longer timid with fear of failure. Instead, they are ready to pounce on opportunity, even if it is at risk of error.

While you may be tempted to ingest all sorts of information from outside sources, and many of these sources may prove remarkably helpful, the ultimate business decisions are made by you.

It is critical that you take control.

And no matter what, do not discount what you know already or make your own knowledge any less important than anyone else's. It is your wisdom that has value because you are living with it.

Even if you are an information junkie... don't let information anxiety turn your business into junk.

Warm regards,

Rich Schefren

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