As entrepreneurs, we are impulsive. We tend to get an idea and just go with it. We’re risk-takers and are sometimes described as “flying by the seat of our pants.”

One of the most significant and useful skills I’ve acquired over the past 25 years is to pause and think things through. “Thinking” sounds basic, but critical thinking was a skill that I didn’t understand or value. I would hear myself say, “I don’t even have time to think,” or I felt a self-imposed pressure to just forge ahead and get it done, without realizing how much energy and resources it would take to see it through.

Thinking critically through new ideas, thoroughly through my budget and humbly through my strengths and weaknesses has made a huge positive impact on the profitability of my business.

Think through ideas critically // Of course you think it’s a good idea, but who will buy it? Can it be replicated to reduce costs? Give your friends permission to challenge your ideas. Bounce ideas off of others unfamiliar with your business or industry for a new perspective.

Think through your budget in detail // It forces you to be intentional in every financial decision and reduces costly impulsiveness. Knowing my budget in detail strengthened my courage when negotiating price. It also makes it easier to say “no” to projects that cut into profitability.

Reflect on, admit to and think through your strengths and weakness // Acknowledge your strengths and hold true to the values that make you who you are. Summon the courage to offset your weaknesses. Choose to change the habits, attitudes beliefs and expectations that don’t serve you well.

Denise Mills is a partner at LeaderFuelNow, and owner of Pacific Accord and Six Degrees Solutions. (913) 948-5900 // This e-mail address is being protected from spambots. You need JavaScript enabled to view it