Over Thinking vs. Performing Due Diligence.
During my tenure as an internet marketer, I’ve come to realize how many people dismiss opportunities by over thinking and confuse their thoughts (or truly believe) they are performing due diligence.
Treading ‘carefully’ is necessary when considering any online endeavour and most reasonable people in our online industry will always encourage potential partners to perform due diligence on a business opportunity rather than dive in headlong. After all it’s the smart and sensible thing to do.
So, what is due diligence you ask?
To perform due diligence, while there are a couple of ways you can use the term, when used in the context of choosing a business venture, it is to ‘investigate’ and perform research as to the legitimacy of the venture first and foremost.
Of course there are other factors to analyze during this process – such as past history/back ground, the structure of the company, the economic and personal value, etc.
The business opportunity also should also be in line with your own personal values, and interests; as well as it’s important to weigh your passions and personal feelings about it.
If the outcome of the above sits well with you, it’s never a bad idea to actually talk to other people involved in the same business opportunity for additional feedback and points of view.
In other words, ‘due diligence’ is ‘making sure’ and is a smart checklist to follow.
Over thinking however, is something quite different.
“Over thinking” I feel, has more to do with personal confidence, ambition and knowing yourself in the way of capabilities, determination and the seriousness of your intentions or desires to reach your goals.
I’m not saying that ‘thinking things through’ is bad, but “over thinking” can in many cases hold you back from so many life experiences and positive future personal and financial changes.
Since I’ve gotten a little older, I have noticed that even I too tend to ‘hammer things out’ more than I did when I was in my prime. (BTW I’m not in a rocking chair knitting yet!)
As a teenager however, I just ‘did’ things. I always thought things through and performed due diligence, but once I was satisfied with the risk vs. gain factor and weighed the pros and cons… if I knew it was something others were doing, I knew I could too and I simply took action.
I feel that overtime, we can tend to become a little too complex and over analyze things to death and in essence over complicate things unnecessarily.
In talking with partners and potential partners, I’ve found that so many people ‘dig’ for a way out – or a reason not to taking action and I now wholeheartedly believe in most instances, it is their fear of failure holding them captive in a state of analysis paralysis.
So many folks are itching to make changes, can afford to invest a little into their goals, yet have trouble uncovering their personal power due to lack of confidence or perhaps… may not feel they are worth the risk.
The excuses often range from lack of knowledge, not being technical, shortage of time, being shy, or even comparing themselves to another successful person and feeling they may never measure up.
I just feel it’s a shame to allow over thinking to stand in the way of ‘what could be’ if you simply applied yourself. All it does is create false fear and insecurity.
When choosing a business opportunity myself – I had to ensure I remained objective and didn’t confuse performing due diligence and over thinking as well.
Because I know this human roadblock exists and because I know there is this fine line – I often ask the following questions:
1. Do you question the legitimacy of the company?
2. Is the investment holding you back?
3. Do you find the genre of the company unappealing?
4. Are you feeling hesitant because you’ve had no experience?
5. Is the company in alignment with your interests?
In most cases there is never a question of legitimacy. Often the investment is not an issue either and the company almost always aligns with their interests as it is what drew them to the opportunity in the first place.
The feedback to my questions almost always spells out the fact that over thinking or underestimating their own abilities is often the clincher. Funnily, many people don’t realize it until I point it out.
My own personal view on selecting an online business opportunity is that so long as the company is solid, is harmless and doesn’t take advantage of others, the personal rewards are at least at par with the possibility of financial rewards and it adds value to the lives of others (regardless of what it is) …. Life is too short to allow over thinking to hold you back.
I’ve said this before too: “We all start in this industry knowing nothing and have to learn the necessary skills to get the ball rolling”. With all of the support available these days (much of it for free) from many other awesome online entrepreneurs – you’d be surprised how many people will help you along.
I believe everyone has the same opportunity of reaching their desired goals, after all thousands of normal, average everyday people prove it daily by knocking the ball out of the park!
In conclusion, DO perform due diligence but DON’T let the habit of over thinking hold you back. Life is full of tremendous possibilities and occasionally we have to take the odd chance to uncover hidden talents, treasures and rewards. Besides, you’ll never know what the future may hold if you don’t take the plunge!
Would you agree with me… or do you see yourself in this post? Leave your thoughts below!