Basic HTML Version

|  | Table of Contents |  | View Full Version

Page 36 - The Indian EYE 073126
P. 36

    Business Strategy with Hirav Shah                                         JULY 31, 2026    |  The Indian Eye 36

                      Why Every Business Decision

                               Needs a Second Opinion

                 Smart entrepreneurs don’t avoid decisions—they refine them. They understand that
                       seeking another perspective is not a delay; it is part of responsible leadership

                                                                                                                    challenges you
                                                                                                                  • Evaluate  decisions  from  strategy,
                                                                                                                    execution, and market angles
                                                                                                                  • Take  a  pause  before  committing
                                                                                                                    resources
                                                                                                                   Quick Self-Assessment: Do You Really
                                                                                                                        Need a Second Opinion?
                                                                                                                      Before  making  your  next  major
                                                                                                                  business  decision,  take  two  minutes
                       HIRAV SHAH                                                                                 and answer these questions honestly:
                                                                                                                  • Have I based this decision on facts
                  n entrepreneur once stood at                                                                      or assumptions?
                  a  critical  point—ready  to  in-                                                               • Have I identified at least three ma-
            Avest a large amount into a new                                                                         jor risks if this decision doesn’t go
            opportunity. Everything looked right.                                                                   as planned?
            The numbers were strong, the timing                                                                   • Has  someone  with  relevant  busi-
            felt perfect, and confidence was high.                                                                  ness  experience  challenged  my
                But  just  before  moving  for-                                                                     thinking?
            ward, one simple question came up:   Family members, friends, or colleagues may support your decision because they trust you, not   • Am I making this decision because
            “Have you looked at this from anoth-            because they have evaluated it objectively (File photo)   of data, or because I feel emotion-
            er perspective?”                                                                                        ally attached to it?
                That one pause led to a second    Q: When is a second opinion most   forward.                     • If  this  decision  fails  six  months
            opinion.  And  suddenly,  gaps  ap-  important?                         Q: Is taking a second opinion a   from now, what would I wish I had
            peared—risks  that  were  not  visible   Before  high-impact  decisions—  sign of doubt?                reviewed today?
            before,  assumptions  that  were  nev-  like investing, expanding, or exiting.   No. It is a sign of discipline and   According to Business Strategist
            er tested, and realities that were ig-  These  are  decisions  where  even  a   maturity in decision making. It does   Hirav Shah, if even two of these an-
            nored.                            small  mistake  can  create  long-term   not  weaken  your  confidence—it   swers  create  uncertainty,  don’t  rush.
                This  is  where  most  businesses   consequences, so deeper evaluation   strengthens your clarity and improves   Pause, validate, and seek another per-
            go  wrong.  Not  because  they  don’t   becomes critical.           the quality of your final decision.   spective before committing significant
            think—but  because  they  don’t  think   Q: What happens if I skip a second   Quick Decision Validation Check  time, money, or resources. A short de-
            from multiple angles.             opinion?                              Before  making  your  next  major   lay today can prevent a costly mistake
                Business Strategist Hirav Shah    You risk making decisions based                                 tomorrow.
            believes that some of the biggest busi-  on incomplete evaluation and over-  business decision, ask yourself:   Final Thought
                                                                                • Have I tested my assumptions with
            ness losses are not caused by lack of   confidence.  Many  businesses  don’t   objective data?            Smart entrepreneurs don’t avoid
            intelligence  or  effort.  They  happen   fail  because  their  idea  was  weak—  • Have I considered the worst case   decisions—they  refine  them.  They
            because leaders become emotionally   they fail because they moved forward   scenario?                 understand that seeking another per-
            attached to their own decisions.   without fully understanding the risks   • What risks am I ignoring because I   spective  is  not  a  delay;  it  is  part  of
                Q: If I feel confident, why do I still   involved.
                                                                                  am optimistic?
            need a second opinion?                Q: Who should you seek a second   • Has  someone  experienced  chal-  responsible leadership. According to
                                                                                                                  Business Strategist Hirav Shah, “The
                Confidence is built on your un-  opinion from?
                                                                                  lenged my thinking?
            derstanding. But your understanding   Not every opinion adds value.   • If this decision fails, what would I   strongest leaders are not those who
                                                                                                                  never question themselves. They are
            is always limited to your experience   Family  members,  friends,  or  col-  wish I had reviewed today?  those  who  question  themselves  be-
            and  perspective.  A  second  opinion   leagues  may  support  your  decision   As Hirav Shah says, “The cost of   fore  the  market  does.”  Because  in
            brings a wider lens, helping you see   because they trust you, not because   asking  one  more  question  is  usually   business, one decision can change ev-
            factors you may not have considered,   they  have  evaluated  it  objectively.   far lower than the cost of correcting   erything, and one second opinion can
            especially in high-stakes decisions.  According  to  Business  Strategist   one wrong decision.”      protect everything.
                Q: What does a second opinion ac-  Hirav  Shah,  a  meaningful  second
            tually do?                        opinion should come from someone      Practical Tips for Using Second
                It reveals blind spots that are in-  with  relevant  experience,  strategic   Opinions Effectively   Hirav Shah is the Global Business
            visible in your own thinking. It helps   thinking, and the ability to challenge   • Don’t  look  for  agreement—look   Strategist, Game Changer, and Author
            you  identify  hidden  risks,  challenge   your assumptions without personal   for truth               of 19+ books—trusted worldwide for
                                                                                                                    validating big decisions of entrepre-
            assumptions,  and  test  whether  your   bias. The goal is not to hear what you   • Choose experienced and unbiased   neurs, sportsmen, and entertainers.
            decision is strong across multiple di-  want  to  hear,  but  to  discover  what   perspectives
            mensions—not just one.            you still need to know before moving   • Be  open  to  feedback,  even  if  it   Email : Business@hiravshah.com

                                                                   www.TheIndianEYE.com

| 31 32 33 34 35 36 37 38 39 40 41 |