Shatha Barbour of Hera Hub Phoenix and Aram Chavez of Aha To Exit talk about the process an entrepreneur should use to make decisions for their business, in this interview.
When you’re looking at creating a start-up, it’s all about the strategic mindset first. Where is it that you’re marching towards? If you can define where it is that you are going, your decision-making process will be much clearer and much better as opposed to most start-ups where they’ve got short-term goals without a point to march towards two, three, four years from now. If you can create that dot and keep your eye on it, the light gets bigger and bigger every day. So your decision-making process is about learning faster, not failing more. And that has everything to do with being able to look long-term instead of short-term.
Yeah, that was actually one of the best pieces of advice a mentor gave me right after I started Hera Hub as a company. They asked, “What is the exit strategy?” And at that point, I was like, “Well, I just started. Why am I thinking about that?” The response was, “Well, if you start thinking about it now, your decision making is going to be a lot different as what you’re structuring and how you’re setting up your company for success, how you’re going to grow it, all the different parameters that opens up a lot of different avenues.” Right?
Well, I quickly shifted then my decision-making system because of that advice. I was like, “You know what? You’re absolutely right.” I was so down in the details of the operations that I didn’t take a step back and think of, “Well, what do I want this to look like in 10 years, in 20 years? Where am I going with this?” And then when I did, I was like, “Ah-ha. Okay.”
You’ve triggered something, Shatha, which is as an entrepreneur, it’s hard because you’re being pressured by your family to show success today. Your decision making can be geared towards having these short-term milestones that don’t really add up to the long-term goal. So be careful about being pressured and forced into making short-term wins. It doesn’t necessarily translate into long-term success.