Already Roy Disney knew “It’s not hard to make decisions when you know what your values are.” Whenever we have to take a difficult decision, we try to get all the information we can. However, from time to time, we are faced with choices, that we cannot answer purely by looking at the facts. Sometimes, we need to consider our values. Why should this be important to us and our legacy?
The Story of a Startup
A couple of weeks ago, an associate asked me, whether or not I would like to back a startup. On first glance, the information looked good. Thus I send it on to my accountants and lawyers to do a more in-depth analysis of the plan. When it came back, the numbers were astonishingly good. All in all, it looked like a worthwhile investment.
However, there was one problem. The startup made money through having the customer gamble and get their friends and relatives to do it. Now, the gambling was naturally not visible as such, and all was legal, but in essence, it was a game of luck. Thus it was for me to decide, whether to take the investment and board seat or not.
Your Image
The first question, whenever you make a decision which touches your values, is whether you are consistent in your choices. When you show a clear line of values, which are reinforced by the path you took, you confirm that you have integrity and values.
Having others see your integrity signals them, that you are a reliable business partner. Which in turn might open up other options.
The Mirror
The other questions and the most important one is, “can I look at myself in the mirror?” Compared to your outside image, this one is so much harder. While many decisions to an outsider look black and white, it is not so easy on the inside. In my example, the question, whether to support the company that I found questionable vs. the earning potential and the board seat. Of course, shattering someone’s dream, even a bit also played into it.
The question was pushing me down, and I was extremely unsure about what the better choice would be. However, the problem is, could I enjoy the money I made of the investment or would I not be able to look into the mirror ever again.
Not Revisiting the Decision
No matter the decision, there is one general rule. You should never look back remorseful at a conclusion and question it. Looking back will only cause you to be angry about the path not taken.
The resentment about yourself will break you and prevent you from making any further decisions. Instead, reaffirm your values be sure in them or learn from the judgment and make it better the next time.
Conclusion
If you are wondering, I did not invest in the company. I know, they found a different partner to start their business and are still in business. For me, it, however, reaffirmed, that you should follow your values, whenever there is a difficult decision ahead of you.