A Thought For Today’s Entrepreneur

Many will look at the coming New Year and try in some futile attempt to make plans or set “goals” for the coming year in much the same they’ll decide what they want for dinner the day after. They know they have too eat, but what they are sure of is they want nothing that can be paired with a green bean casserole.

What stems from this going forward is a thinking of “what to cut out” rather than what is needed to replace. i.e., Going on some immediate fad styled diet as opposed to going back to a more moderate, potion controlled intake.

Studies show (as well as our own test I would venture) the “temporary cut out everything” is only met with “I’ve been good so this extra slice of cherry pie ain’t gonna hurt nothing” during that time defeats the whole exercise making the whole thing moot in the end. It’s a great lesson in futile strategy and execution that bears noticing where else one is doing the same producing similar results. Especially in business.

A better question that will bear more fruit to your business as a whole than a decision as to whether you should have that slice of pie as to satisfy your craving is this: If this happens – then I should do this. If that happens – then I’ll do that.

However, exactly what “that” is, followed by what precisely is the “this” you’ll employ is the key. And it’s a key that can open many doors of escape as well as opportunity. But only if you have the keys in hand when needed.

Currently we are at never before heights in the capital markets. We’ve been in these situations before. There have been times the next year has produced even higher heights. There have also been times out of nowhere those heights have been reduced to canyons. Each has their own effects on how not only the customer reacts, but also how the businesses we utilize as suppliers react to us – their customers.

Knowing or at the least contemplating differing scenarios on how that may effect your business, as well as how you would react and deal with either disruptions or the possible increasing of opportunities is a very relative “if this – then that” question to be contemplating over this remaining year.

Remember, business is not only about expansion opportunities in good times. It also includes the opportunities for expansion through prudent risk taking where growth can also come via “remaining solvent strategies” – while your competition is left groping for keys in the dark that you already have in hand.

Having the keys is not enough. It’s in the knowing which one to use on which door is what opens all those opportunities. Maybe even more than what’s behind that refrigerator door the day after Thanks Giving.

© 2014 Mark St.Cyr