13 June 2023

Can business owners unlock clarity & confidence by asking the right questions?

Success can sometimes hinge on making informed decisions and taking calculated risks. To navigate complexity we must learn to ask the right questions. We explore how business owners ask powerful questions to drive growth, innovation and help with decision making.

1. Do you need a new perspective? Asking the right questions enables business owners to uncover fresh perspectives and challenge assumptions. This may prompt you to think critically and explore different options to help you identify opportunities and anticipate potential challenges.

Question to ask: What emerging trends or shifts in the market should we be aware of to stay ahead of our competitors?

2. Can you enhance your decision-making process by asking the right questions? By delving deeper into the underlying issues, business owners can assess risks and evaluate potential outcomes. Align with business goals, financial stability and growth aspirations. 

Question to ask: What potential risks or challenges should we consider before making this decision and how can we mitigate them?

3. Can you drive innovation and growth in your business by asking thought-provoking questions? Do you foster a culture of innovation by encouraging your team to explore unconventional ideas, challenge existing processes and identify growth opportunities? Continue to question the status-quo with courage. 

Question to ask: How can we foster a culture of innovation within our business and what resources or support do our team need to foster creative thinking? 

4. Asking the right questions can extend to your professional network and support system. Ask clarifying questions of your financial planneraccountant or business coach to gain a comprehensive understanding of your business. This support will help you with accurate record-keeping, compliance and improve financial operations. 

Question to ask: What are the key drivers of our businesses profitability and how can we optimise our resources to improve the bottom line?

5. Insurance plays a vital role in safeguarding business owners against unforeseen risks. Asking more questions will help you assess insurance needs to help understand coverage options, policy terms and exclusions. Deeper questions also enable business owners to elevate the financial stability and reputation of insurance providers. 

Question to ask: What specific risks does our business face that requires insurance coverage, and how can we tailor our policies to provide adequate protection while minimising costs? 

Let’s chat if you ready to work with us. Our shared goal is that you have clarity, control and confidence to ask as many questions as you like.