Are you sitting too comfortably?
It’s a great feeling when everything is going smoothly in business, not just because you’re making money but also because nobody enjoys firefighting or staring into the abyss of a seemingly intractable problem or one that threatens to take up a lot of your time and end up being costly in the bargain.
However, it is a fact of business life that “stuff happens” and the reason you are reaping the rewards of your labour is because being in business entails headaches. After all, if we wanted to avoid the hassle and the headaches of being a business owner we’d simply get a 9 to 5 job.
But beyond the regular vicissitudes of the boardroom, office desk or factory floor there are events that can have a lasting impact on your business model. These such events are becoming more frequent and also unpredictable.
Never mind a fire or flood that is specific to you but :
- Tariffs
- AI
- Employment Law
- Legislation
- Tax
- Conflict
- Environmental
- Pandemic
And if you’re really feeling morose, how about all of them at the same time!
They say that “only the paranoid survive” in business and never has this been more apt.
I don’t advocate true paranoia but it pays to review your operation and potential threats on a regular basis as part of your normal business activity. Why wait until disaster strikes?
Armies have lookouts and defensive surveillance and so should your business. I have often told people that business is akin to warfare with territorial grabs and commando strikes one entity against the other, constantly, be it pricing, innovation and much more in between.
You need to be on the ball all the time, and ask people around you how they view the world in which you both operate.
That’s another reason why networking is so important – not just for the social and listening to the experiences of others to learn, but to discuss common threats and start thinking.
During the Gulf War American defence secretary Donald Rumsfeld famous talked about “unknown unknowns” , in reference to threats that were believed to be out there but were not known what they comprised.
Of course business has to continue whatever might be around the corner but don’t get too comfortable and start to ask yourself ”what if”.
Not to forget our good friend – Plan B
Always have a Plan B somewhere in the back of your mind and make sure it’s up to date!
It’s called resilience.
