Recasting the business plan doesn’t mean failure, it means that you’re smart enough to examine the factors that changed the plan and react to them. It’s like a basketball game when your man doesn’t take the jump shot at the foul line you expected him to take and drives to the basket. Don’t wait for him to come back to the foul line, he’s not. Cut him off at the basket and block the shot.
Your start-up company was launched with your brilliant idea for a much needed product or a service, and you’re an expert in the field, but has it been vetted by experts in other disciplines that can advise you if your foundation can support the weight of launching a new company?
Make sure that the internal business plan, the one that gives management the detailed road map to the end game, has contingencies attached to it. There should be a plan considering the best case scenario, worst case scenario and most probable outcome. Don’t be afraid to use one of those contingencies plans at the first sign you’re headed down that road.
Finding a start-up in the local business cemetery facing the Zombie Start-up syndrome might be a good idea, but only if the other company’s strengths offset your weaknesses and vice versa.
Companies that are successful in spite of themselves are usually companies that have strong staff members filling in the shortcomings. Identify them and tap into those people, directing them strategically to your best advantage and weakest point.
Be aware of your surrounds during a thunderstorm or solar flare. Doesn’t make sense? Then listen to our 4/9/13 available below on-demand.