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How to make investment decisions?
How to make investment decisions?
To be or not to be, that is a question.
The reason why business leaders earn a higher annual salary is that they should make wise investment decisions on potential business projects. However, no subject or individual can provide useful advice to the novice enterprise managers who want to make similar decisions.
This kind of decision can never be made according to certain rules or algorithms like computer programming. It's more like sitting in a jury: you can't judge whether the defendant is guilty until all reasonable doubts are answered.
However, fortunately, corporate decisions rarely involve things like life and death! Therefore, I found several general rules that can help me decide whether to approve the implementation of a project within a certain time frame.
For me, first impressions always play a very important role. But when dealing with enterprise management, I won't let the first impression affect my decision.
Now I understand that when an idea first appeared in my mind. Even if it is an excellent idea, I won't react at the first time.
On the contrary, I will weigh the potential advantages and disadvantages of new business seriously and objectively and make a comprehensive evaluation.
When you first evaluate an idea, just because you can't think of obvious shortcomings doesn't mean that the project has no shortcomings. Almost every startup will encounter unpredictable problems, so before moving on, it is necessary to spend a lot of time figuring out what they are and evaluating various solutions? If a big problem is found after the project is started, it will be a lot of trouble to deal with it.
If all members of your team have the same idea and are willing to do the same project, then your caution becomes doubly important. There is no perfect idea, so be careful. You need to work hard to find its potential problems.
Finding and emphasizing the importance of these problems will only make your company better.
Avoid relying on only one person to decide whether to start a project. Therefore, you must also consider how this project will affect the operation of the whole company.
As an entrepreneur, every choice you make will affect your ability to discover future business opportunities to some extent? This is what management experts say? A series of decisions? (decision flow)
You may feel that the project you are considering may be too good for you to give up, but you must understand how it will affect other projects in the future.
If it seems that now is not the best time to do this project, then consider what (possible) risks the company will have if it is delayed for a while.
If you are faced with the situation that you have to suspend another project because everything is ready, think about why that project can be done now and this one can't, and then consider the priority of the project.
Finally, do everything possible to take as little risk as possible. Smart investors will do a lot of work in the stock portfolio to control potential losses. You should adopt the same strategy when starting a new company.
For example, when I founded Virgin Atlantic Airlines, in order to get the partners of Virgin Records to agree to let the company venture into a new industry and set up a new company, I tried to persuade Boeing to make a commitment to buy back the Boeing 747 we bought if the airline's performance was not as good as we expected when 1 was established.
Since then, whenever we want to create a large capital-intensive company? For example, when we are about to set up Virgin Galactic or Virgin Cruises, our team always spends a lot of time looking for creative ways for the company? Defend yourself for your mistakes? .
The above is the experience I used to help me make a wise decision. I hope it can help you.
Finally, there is a little suggestion: if you have time to postpone the project and plan it carefully, then you must do so. It is never a bad thing to do more homework for a project? As long as you don't let the opportunity slip away!
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