Just because you knew something 6 months ago, doesn’t mean you know it today. What do I mean? I’m not talking about historical knowledge — that doesn’t change. But let’s say direct mail or online advertising was working really well for you or your web site achieved certain performance benchmarks consistently. But is it the same today? And I encourage you not to rely purely on topline numbers or facts, periodically dig a little deeper to make sure the data means what you think it does.
I had a situation just this past week where I sat down with my team and looked at some numbers that we believed still meant the same that it did a while back. But when we dug through the details, we realized that the picture was significantly different than what we were perceiving and what the broad brushstroke numbers were implying. When we finally had the true picture, we were able to make some important decisions that I think will prove to be profitable.
So don’t spend all your time second guessing yourself, but on some sort of regular basis you should retest your basic assumptions and make sure that reality hasn’t changed.