5 Tips To Know Your "Hunch" Is Right

California Chrome is two-thirds of the way to being the first Triple Crown Winner since Affirmed in 1974. These are exciting times for horse afficionados, but it's also an interesting case study for all of us. California Chrome is owned by DAP, or Dumb Ass Partners, which consists of two guys called this (probably by their spouses) because they are unknown working stiffs who invested their last dollars into a colt they "knew" was going to be something special. Now that hunch earned them over a million dollars even before they won the Kentucky Derby or the Preakness! DAP no more!

Now, I don't know about you, but I've had some hunches like over the years, and I didn't always greet them with open arms. Some I acted on, and some I didn't. Some were winners, some were so-so and with some I totally missed the boat. So what was the difference? How do you know when to move forward or when to let it go?

Here are some ideas to help you make the right decision:

1. Slow It Down. Take time to decide.  Even if it's something you think you have to act quickly on, there's always time to put down the phone, stop the email and think it through. Taking time to breathe will stop you from making an impulsive decision.
2. Get The Facts.  If you have some nagging questions, get them answered now. You don't want to end up saying "if only I'd known" or "I had a feeling that might be an issue." Now is the time to pay attention to your intuition and get all your questions answered.
3. Find Someone To Talk It Over With. Two heads are always better than one. Find someone who will listen to your thinking. You don't need their answers or opinions, you just need someone who will ask good questions and who will give you time and space to process your own thoughts—not theirs.
4. Ask Yourself Why, Really Why. Get to the reason underneath the reason.  Not just your initial reason like "it's a good deal," but the real reason such as "I'm desperately in need of money" or even "my family will be impressed."  Make sure there's good economic and non-economic reasons behind the impulse to act.
5. Don't Second-Guess Yourself. Once you've made your decision, move forward and don't look back. The biggest factor in any success is the passion and effort we put into it coupled with the belief that we can do it. Bill Cosby said it well: "In order to succeed, your desire for success should be greater than your fear of failure."

Just some quick and easy advice to you in the winner's circle.