• Bob Prentice

DO YOUR DUE DILIGENCE


Buying a car, starting a business, making an investment, building a home, or purchasing a product can all be quite daunting tasks. There are so many decisions to make and so many different options! Though we do not have to make decisions of this magnitude very often, there are still quite a few challenging decisions to be made each day. I must admit that over the past 30 to 35 years, some of the decisions I have made have been real "doozies". Some have got me knee deep in a pile of muck. It seems I always have had to learn things the hard way. However, over time I have learned to do my due diligence. Let me ask, do you have really tough decisions to make? May I encourage you to do your due diligence?

Ask more questions. Dig a little deeper. Ask even more questions and dig deeper further. It is much better to be proactive in asking questions, in advance of making any final decision. Check with others who have been faced similar decisions to get their thoughts and opinions. Do your research, and then research even more. Do not settle for the first things you hear or see. Resist your gut feelings. If at all possible do some active planning, since this will force you to look ahead and around the corner a little bit. Frankly, it is what is around the corner that can bite you hard or rip your head off. Trust me, I know because I have had it all happen way too often.

This strategy of doing your due diligence is much like purchasing insurance. It can really save your tail. Here are some of the action steps I have found to be helpful:

  • Talk to God.

  • Talk to your spouse.

  • Visit with a trusted friend.

  • Google it.

  • Read about it at the library.

  • Make some phone calls.

  • Find someone who will force you to think and talk about the downside.

  • Chat with your banker, an attorney, or business advisor.

  • Write down and get it all out in black and white in front of you.

  • Read between the lines, listen, and press on.

Taking a risk and moving out of "safe zones" will become much less difficult if we have done our due diligence. You can move forward with more confidence with your plans, thoughts and ideas. If you still fail, that is okay as long as you remember that success comes from failure. Keep persevering until you get it right, and of course, continue to do your due diligence.

16 views

Recent Posts

See All