Three Reasons My Business Might Fail But Won’t

There are only three ways businesses fail.  Any owner who avoids them will stay afloat, at least, and probably achieve his/her goals.

Fail to Plan
Planning is hard, boring and discouraging, so lots of people don’t do it.  But if like me, you don’t believe in luck, planning is the only way to get where we want to go.

Fail to Act
It’s always easier to do nothing, procrastinate, wait and see, than it is to do stuff. But making sure what we plan should get done, when it’s supposed to get done, gets done by whoever is supposed to do it, ties us back to our plan.

Fail to Review
OK so that plan didn’t work.  Our thinking was wrong.  What will we do now, and what are the implications for our business – sales, customer service and cash. What does the next plan look like?  How do we make sure the next plan is more achievable?

This isn’t rocket science to kids let alone entrepreneurs.  If we want to walk to the park we have to plan which paths we’ll take, start walking, then review whether we’re going in the right direction.

Strange isn’t it? How so many otherwise intelligent people manage businesses based on hoping things will work out right, as opposed to managing their way to success.

Management isn’t about hope, it’s about Plan, Act, Review.

Of course you don’t have to believe me – just read about Henri Fayol, or even hire Management Consultants.

Either option is a lot cheaper than failure.

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Tagged as: Business, Consulting, Customer service, Failure, plan act review, Small business