“What if?” The one question Euro zone leaders won’t ask that you must

This morning on the Radio 4’s Today programme I caught the tail-end of a conversation in which a European representative (I didn’t catch if he was a politician or an advisor) was being asked about the Euro-zone leaders discussions and plan should Greece not stay in the Euro zone.

The interviewee said there were no discussions and there was no plan in place because it cannot happen. When pressed and reminded that the IMF has started talking about this real possibility, he reiterated that there was no plan because it cannot happen and that if you plan for something, it becomes like a self-fulfilling prophesy!

If ever there was a reason not to follow the leadership attitude of the heads of countries then this is one of them.

Since 2008 the leaders of most countries affected by the economic crash have acted like rabbits in headlights. They have thrown together one initiative after another but with no coherent strategy to address the crisis.

In your business you cannot predict what is going to happen but you can and must be prepared for what might happen. You must ask “What if?” and create mitigating plans that can swing into action should that “What if?” actually happen. If you don’t how can you be prepared?

Have you identified the risks to your business and created mitigating plans? What if you need more cash and your bank doesn’t lend? What if you lose your top three customers? What if you lose your best sales person? What if you fall ill or have an accident? What if …

If you aren’t prepared then you “hope” and as you may have heard me say before, hope is the positive face of uncertainty and you cannot run a business, never mind a country based on hope and uncertainty.

If Greece drops out of the Euro zone it sounds like our leaders will continue to act like rabbits in headlights. They’ll stare at each other and not know what to do. Do not be like them, know the risks to your business and be prepared.

Call me if you want to discuss your business and need help mitigating for your risks.

image coutesy of Rueters