Gain Consensus

Gain Consensus

The more trusted professionals who tell you that an idea or plan is sound, the more likely it is to be true. While you should not make decisions based on “groupthink,” or averages, or “management by committee,” and while you absolutely can’t be slowed down in your process, it is always helpful to consult others and take into account their opinions to discover if consensus is readily attainable.

Independently determine which deal options you believe are the best based on your own in-house research and concept development process. Then talk them through with key friends, consultants, and stakeholders.

If you have independent advisors with a broad range of knowledge and experience, and if those advisors are blessing your major business moves, then the plans will have a higher likelihood of success. If the advisors all reject your concept or proposal, then there is a greater possibility that it is, in fact, a dud.

If some advisors are in favor of your proposal and some are opposed, use your best judgment to navigate the gray area. You are best off evaluating all of the information and advice and then make an independent verdict. Maybe waiting a little longer, studying a little more, and chatting again with each advisor will uncover a clear answer. When trying to gain consensus on big decisions, it’s best to have at least a trusted accountant, a lawyer, a few skilled businesspeople, a friend, and a relative run by it. Skip any “yes-men” (like your mom).

Gaining consensus on major business decisions doesn’t shield you from any responsibility for the bad ones.

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