Young leaders typically go too far or not far enough. They’re born to take chances, but when the time comes, many retreat to what they have been told by elders or those with more experience.

There’s something to be said for brash youth, its penchant for breaking the rules and coming at problems from an entirely different mindset. But sometimes those rules are there for a reason, and going completely against what’s been done before leads to a road to nowhere.

So before young leaders head out to conquer the world, they should dig deeper into their beliefs, actions and goals to chart a successful path.

Here are six questions young leaders need to ask themselves:

1. What Are Your Core Beliefs? To be successful a young leader needs to be grounded in some fundamental beliefs. Understanding and writing down core beliefs will guide you through stormy times.

2. What Is the Mission Statement of Your Product or Service? The mission statement reflects every facet of the business: the range and nature of the products offered, pricing, quality, service, marketplace position, growth potential, use of technology, and your relationships with customers, employees, suppliers, competitors and the community.

3. Have You Done Your Homework? As a young leader, it’s imperative that you do plenty of research. Older leaders can sometimes go by their gut feelings, but young leaders don’t have that luxury. You need to be over-prepared before moving forward.

4. Do You Really Believe in You Product or Service? Great leaders truly believe that whatever their product or service is, that it’s the best option among all the competition. If you don’t believe in your product, then it’s hard to lead your troops into battle.

5. Are You Ready to Set Sail, or Are You Moored to the Dock? Sometimes you have to take chances. Are you ready to take risks and not be tied to what has always been done in the past?

6. How Will You Handle Success or Failure? One of two things usually happens: you’ll succeed or you’ll fail. How will you handle success? Are you ready to pull all of the levers you need to get to the next level? If you fail, then how will you handle it? Will you go into a depression and blame others, or will you learn from your mistakes?

Young leaders can overcome many obstacles by taking some extra time to ask themselves those questions.

– Phuong Uyen Tran

About the Author: Tran, author of Competing with Giants, is deputy CEO of the THP Beverage Group, a leading beverage company in Vietnam that was founded by her father. She’s responsible for the company’s marketing, public relations and CSR programs nationally and across Vietnam’s 63 provinces. She also leads THP’s international marketing programs across 16 countries where THP’s products are distributed including Canada and China.