CEO Shares 6 Smart Decision-Making Tips for Entrepreneurs
In life and business, making decisions is inevitable. Where you are now and where you will go is determined by your choices, but making the right ones isn’t always easy.
Jen Rudolph, an artist, casting director, and CEO/founder of The 2% Signature System™, an online coaching company for aspiring actors, is no stranger to making the tough calls throughout her career. From picking the talents as a casting director to choosing her mentors that made profound impacts in her career, to transforming her company from brick and mortar to entirely online, Rudolph’s been making all the right decisions that put her on top.
“(My) dream came true. From NYC, LA, Australia, France… you name it. There were no limits. I get to help my clients achieve their dreams in record time from anywhere in the world,” Rudolph stated.
From an interview with Rudolph, here are some suggestions that may help you develop the business acumen you need to succeed:
1. Know yourself and find your passion.
From an early age, Rudolph already knew she belonged in the acting industry, from acting in high school to watching every Broadway show, to summer camps and joining theater organizations, she spent her years honing her talent because this is where her passion lies. According to her, “I knew I was meant for this business. I fell in love with musical theater and it was just magic to me”.
From here she discovered her knack for business and resolved to combine both her passion for acting and her business skills to create her own coaching company. “I realized I had a head for business and behind the scenes. I wasn’t sure what I wanted exactly but knew it was going to be big,” said Rudolph. This was when her first company, The Actor’s Green Room (AGR), was born.
2. Listen to your emotions.
Although making decisions out of strong emotions is not recommended, sometimes your emotions can guide you to make better decisions that will make you happier.
Rudolph wasn’t always as decisive as she is now. At a point in her life when her brick and mortar coaching business, AGR, was barely getting by because of operating costs and her lease was almost up, she said, “I became restless and unhappy. I didn’t see a way out. Do I resign and deal with a huge rent increase? Do I move to?”
She got offered a deal wherein she didn’t have to worry about her rent, but her gut told her she didn’t want to relinquish control of her company, so she decided to find another way.
3. Learn from others who know better.
Still undecided on what to do with her brick and mortar business, Rudolph stated she would’ve taken the deal were it not for her friend, Lauren Hunter, who advised her not to merge.
“She told me I could do it. Because of her, I didn’t fold my hand. I went all-in on myself,” Rudolph shared. She then proceeded to hire a business coach named Alex Moscow to help her see what she couldn’t.
4. Take calculated risks and invest in yourself.
An investment in yourself is an investment in your business. Rudolph shared, “I decided to take a huge risk. I turned down the deals. I made the decision to end my lease, close my brick and mortar, move my business online.”
With the help of her business mentor, she learned marketing and strategy and launched The 2% Signature System™. She earned back her $25,000 investment in herself within 30 days.
Rudolph further explained, “I hired other coaches as well to help me get congruent in all areas of my life and spent well over $100K on myself in 2019.”
5. Adapt to unplanned changes.
The business environment is constantly changing, and in a fast-evolving industry like entertainment, it is wise to make business decisions that adapt to the times. Rudolph said, “I see challenges as a puzzle and don’t crumble. I adapt. I pivot.”
When she decided to move her business online, she quadrupled her earnings in 2019. She further explained, “I was the first company of my kind to move online and certainly the first to offer the kind of things I was offering with a trademarked system.”
With the rise of technology, increased mobility of people, and encouragement to work from home, online classes are proving to be more profitable in the market situation.
6. Finally, commit to your vision.
Sometimes, unforeseen external forces may force you into making a certain decision, but Rudolph recommends sticking with your vision that you are passionate about.
When her brick and mortar business was not doing well, she considered being less personal in the services she offers. She said, “Unless I wanted to become a factory, I wasn’t going to be able to grow. That wasn’t my vision.”
So instead, she pursued her vision. “I had the vision to be able to reach actors all over the world”, and so she did and got incredible results. “I wake up every day eager to interact in my highly engaged 13K Facebook group, The Green Lounge, and send out inspirational emails,” Rudolph added.
Today, Jen Rudolph has made a difference in the lives of thousands of actors from all over the world. However, she is keen to point out that she would never reach this success without the valuable help of the people she has been working with. Her tenacity, foresight, and willingness to adapt helped her make the right decisions that led her to the fulfillment of her vision.