AF248 - STOP ANALYSIS PARALYSIS in its Tracks with THIS

In the Amazon FBA world, there are so many Facebook groups and YouTube channels and blogs and gurus and podcasts and tools and software shoved down our throats that it’s really hard to stay focused. So, in today’s episode, we’re going to talk about how you can stop analysis paralysis forever. We’re going to stop overthinking, we’re going to stop overanalyzing, and we’re going to start taking some action. First up, I talk about the decision fatigue we all feel as business owners and how to make your life easier with a checklist you can run through before making choices about what tools you want to invest in. I also address the causes of analysis paralysis, including the fear of missing out (FOMO) and how to avoid letting it influence your decisions, before returning to the checklist with the first question: what goal does this tool help me reach, or problem does it help me solve? I then share a recent story of me not asking this question before purchasing a course on Pinterest strategy because I was sucked in by a big discount and use it to illustrate how letting FOMO guide your choices leads to waste.

The second question to ask is if this tool fits into your budget both in terms of money and time. This question is so important because it can help you set aside your emotions, focus on what your business needs right now, and act on that rather than any feelings of fear. It also makes you consider the specifics of your business circumstances, which leads me to the third item on the checklist: does this make sense for my business? Everybody’s business is different, which means the best tool for me may well not be the right one for you, so you have to do your own research into how the tools you’re interested in work and if they will fit your business. That means not relying on other people’s advice or testimonials until after you’ve looked into how the tool might fit your preferences (even down to such mundane details as color schemes!). Then I take a minute to emphasize that tools and products and services are not permanent—you can always cancel them—and that you don’t need to feel guilt for doing so. You’re not hurting anybody’s feelings, you’re just doing what’s right for your business, so allow yourself to let go guilt-free. And the final piece of the checklist isn’t a question, it’s a task: set a deadline for your decisions. Lots of people need time to contemplate before making a decision, and it’s good to think before inputting your credit card details, but setting a deadline stops procrastination, getting stuck in research mode, and allowing feelings to fester.

You can find plenty more advice on the Amazon FBA world by joining the Amazon Files and Mommy Income community. You can join our Facebook group with today’s codeword STOPAP to learn more about bundling, ask questions, and participate in the conversation with other sellers. And if you’re ready to take your business to a whole new level, visit MommyIncome.com/Coach to schedule your one-on-one coaching call today.

This week on the Amazon Files:

• Reducing decision fatigue
  
• The causes of analysis paralysis
  
• Choosing tools with your goals in mind
  
• Don’t fall for FOMO
  
• Budgeting for time and money
  
• Choosing the best tools for your circumstances
  
• Say 'no' and let go of the guilt
  
• Tools are not permanent or personal
  
• Creating deadlines for your decisions
  

“Ask yourself those questions, learn those processes, and then be proud of yourself instead of feeling guilty or shame or FOMO, or all that kind of stuff. Be like, I’m proud of myself that I made the best decision for my business in the moment.”

- Kristin Ostrander

WATCH:

LISTEN:

Quotes:

“Oftentimes, what happens? We get analysis paralysis, and we’re just spinning that wheel that’s loading and loading and loading, and we have 412 tabs open at a time. What we generally end up doing is procrastination and/or nothing, nothing at all. And then the next day, we spin the same wheels.”

“As business owners, we are faced with millions and millions of decisions, even from the minute to the big to the extravagant to really simple, mundane things. But as a business owner, we’re not passing the buck to someone else to make the decision, we have to make all the decisions, and decision fatigue is real, friends.”

“If you struggle with decision fatigue, and if you struggle with, like, overanalyzing and analysis paralysis and overthinking like most of us do, right? Then you need a way to start effectively and efficiently making those decisions faster and easier.”

“The reality is, you as the business owner, the person that’s putting your credit card number into anything, gets to decide where and how you spend your money and why. And FOMO is not a decision-maker.”

“I’m constantly educating myself as well. I think that’s really, really important, to grow as an individual, and as a professional, and as an expert in something. You’re constantly learning all the new things and making sure that you’re aware of them and practicing them.”

“The whole point here is, like, in order for you to not waste money on a bunch of stuff you think you might need at some point, spend the majority of your dollars for services and products and tools and coaching and education that will help you right now. Because you’re not there yet down the road. And even if the price is a hundred dollars more or a thousand dollars more next week, if you’re not ready to take action on that thing right now, you don’t need it right now.”

“No matter if you make a million dollars or a thousand dollars, you still have a budget. We can’t just spend whatever we want on whenever we want, any time we want. We all have limited time and money. No matter what that is for everyone, it all is the same, both time and money.”

“I’m trying to position you and trying to encourage you and help you understand that you are a CEO. You’re the owner, you are the business owner. No matter if you’re working two jobs right now, and this is just your side-side-side hustle, you are still a CEO and owner of a small business. And you’re going to need to learn how to make proper decisions.”

“Your business is different. Maybe you have a disability, and you’re only able to work two hours a week. And because of that, you need to be really, really efficient because of the circumstances that don’t allow you to do things other people do. Not wrong, just different. So the best tool for you might be different than the best tool for me.”

“Have you ever purchased something that you were afraid to miss out on? And then you never actually took the time to learn? Like my Pinterest course? Yeah. If you have one of those programs sitting there, tools, apps, software, maybe that’s where you need to place your focus. Ask those questions about those things right now, and then you can dismiss them and get rid of the guilt.”

“Every day that goes by that you’re not using tools that you’ve invested in, you’re wasting money. I mean, if you really like wasting money, I’ll give you my PayPal address, and every time you just feel like wasting money, just send me checks, send me digital cash, but I accept Venmo, PayPal, credit cards, cash, change, I’m even up for barter.”

“If you hear about a new product or service, and you want to know if it’s the right fit for you, then go directly to the source. Watch their tutorial videos, read reviews, watch YouTube videos on how it works. Not from friends and family and other people.”

“Remember that tools and products and services are not permanent. It’s not permanent. Sometimes you need tools in the beginning that you don’t need forever, and it’s okay to cancel them, you’re not going to hurt someone’s feelings. Well, you might be, I guess that’s an assumption. But like, it’s business, it’s not personal.”

“Sometimes tools are not a good fit for you in the moment, and they might be a good fit later on down the road. And you might outgrow some tools. You know, I’ve had some tools before that I’ve canceled because I just haven’t needed them anymore. I’ve created my own systems, or I’ve implemented something new.”

“Investing in your business and investing in yourself is very important. But overinvesting in things that you don’t need is not actually an investment. It’s a waste.”

“The final piece of the puzzle is so that we don’t overanalyze, and we don’t overthink and then become indecisive and then procrastinate and then kick the can down the road and still get nothing done. Create a deadline for your decision.”

“When you get stuck in research mode, you’re in analysis paralysis, and it’s really a struggle. Instead, get the best information possible, answer these questions for yourselves, and then put a deadline on your decision.”

“The way that you invest in your future is to do your best today. Because the results of the future come with what you’re doing right now.”

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Grow Your Amazon Business!

Thanks for tuning into this week’s episode of The Amazon Files, the show to help Amazon sellers along their business journey one step at a time with Amazon expert and your host, Kristin Ostrander. If you enjoyed this episode, head over to Apple Podcasts, subscribe to the show, and leave us your honest review. Don’t forget to share your favorite episodes with your friends on social media! Use the codeword STOPAP to join us on Facebook. Each week, Kristin hosts a live discussion on how to grow your Amazon business. Don’t forget to check out our website and subscribe to our mailing list for even more resources.