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Business Strategy with Hirav Shah JULY 31, 2026 | The Indian Eye 36

Why Every Business Decision

Needs a Second Opinion

Smart entrepreneurs don’t avoid decisions—they refine them. They understand that
seeking another perspective is not a delay; it is part of responsible leadership

challenges you
• Evaluate decisions from strategy,
execution, and market angles
• Take a pause before committing
resources
Quick Self-Assessment: Do You Really
Need a Second Opinion?
Before making your next major
business decision, take two minutes
HIRAV SHAH and answer these questions honestly:
• Have I based this decision on facts
n entrepreneur once stood at or assumptions?
a critical point—ready to in- • Have I identified at least three ma-
Avest a large amount into a new jor risks if this decision doesn’t go
opportunity. Everything looked right. as planned?
The numbers were strong, the timing • Has someone with relevant busi-
felt perfect, and confidence was high. ness experience challenged my
But just before moving for- thinking?
ward, one simple question came up: Family members, friends, or colleagues may support your decision because they trust you, not • Am I making this decision because
“Have you looked at this from anoth- because they have evaluated it objectively (File photo) of data, or because I feel emotion-
er perspective?” ally attached to it?
That one pause led to a second Q: When is a second opinion most forward. • If this decision fails six months
opinion. And suddenly, gaps ap- important? Q: Is taking a second opinion a from now, what would I wish I had
peared—risks that were not visible Before high-impact decisions— sign of doubt? reviewed today?
before, assumptions that were nev- like investing, expanding, or exiting. No. It is a sign of discipline and According to Business Strategist
er tested, and realities that were ig- These are decisions where even a maturity in decision making. It does Hirav Shah, if even two of these an-
nored. small mistake can create long-term not weaken your confidence—it swers create uncertainty, don’t rush.
This is where most businesses consequences, so deeper evaluation strengthens your clarity and improves Pause, validate, and seek another per-
go wrong. Not because they don’t becomes critical. the quality of your final decision. spective before committing significant
think—but because they don’t think Q: What happens if I skip a second Quick Decision Validation Check time, money, or resources. A short de-
from multiple angles. opinion? Before making your next major lay today can prevent a costly mistake
Business Strategist Hirav Shah You risk making decisions based tomorrow.
believes that some of the biggest busi- on incomplete evaluation and over- business decision, ask yourself: Final Thought
• Have I tested my assumptions with
ness losses are not caused by lack of confidence. Many businesses don’t objective data? Smart entrepreneurs don’t avoid
intelligence or effort. They happen fail because their idea was weak— • Have I considered the worst case decisions—they refine them. They
because leaders become emotionally they fail because they moved forward scenario? understand that seeking another per-
attached to their own decisions. without fully understanding the risks • What risks am I ignoring because I spective is not a delay; it is part of
Q: If I feel confident, why do I still involved.
am optimistic?
need a second opinion? Q: Who should you seek a second • Has someone experienced chal- responsible leadership. According to
Business Strategist Hirav Shah, “The
Confidence is built on your un- opinion from?
lenged my thinking?
derstanding. But your understanding Not every opinion adds value. • If this decision fails, what would I strongest leaders are not those who
never question themselves. They are
is always limited to your experience Family members, friends, or col- wish I had reviewed today? those who question themselves be-
and perspective. A second opinion leagues may support your decision As Hirav Shah says, “The cost of fore the market does.” Because in
brings a wider lens, helping you see because they trust you, not because asking one more question is usually business, one decision can change ev-
factors you may not have considered, they have evaluated it objectively. far lower than the cost of correcting erything, and one second opinion can
especially in high-stakes decisions. According to Business Strategist one wrong decision.” protect everything.
Q: What does a second opinion ac- Hirav Shah, a meaningful second
tually do? opinion should come from someone Practical Tips for Using Second
It reveals blind spots that are in- with relevant experience, strategic Opinions Effectively Hirav Shah is the Global Business
visible in your own thinking. It helps thinking, and the ability to challenge • Don’t look for agreement—look Strategist, Game Changer, and Author
you identify hidden risks, challenge your assumptions without personal for truth of 19+ books—trusted worldwide for
validating big decisions of entrepre-
assumptions, and test whether your bias. The goal is not to hear what you • Choose experienced and unbiased neurs, sportsmen, and entertainers.
decision is strong across multiple di- want to hear, but to discover what perspectives
mensions—not just one. you still need to know before moving • Be open to feedback, even if it Email : Business@hiravshah.com

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