It’s a fact that most businesses struggle and ultimately fail. The statistics are out there for all to see. But the tragedy for me, isn’t the statistics, it’s that there is in fact no need for most of these businesses to struggle and fail at all.
Behind these statistics are stories of struggle, of sweat and tears and sleepless nights, of financial and emotional ruin. When people are brave enough to start their own business, and assuming what they do is legal and ethical, then surely they deserve to be able to make this business a success and to reap the rewards that come with that success for themselves and their families.
Most businesses struggle and fail for one reason only.
A business struggles and fails because there is no plan.
There is no plan on how the business owner or CEO will take their business to the next level. And in most cases there’s not even a clear idea of what that next level looks like, never mind how to get there.
Now, if there is no clear picture of where your business needs to be next, then it will never get there (in time, it might get somewhere close) and even if it miraculously did, you wouldn’t know it because you hadn’t created that picture of what ‘there’ is.
Businesses that succeed do so because their leaders have identified where it needs to be next and they focus their time, effort and resource on getting there.
Most children are fortunate enough to grow up in a society and with parents that lead them through key phases of their formative years to give them the best possible start in life – there is a plan.
Education for example, is planned in such a way that what they learn is built on and expanded over the years. If their education isn’t planned then they won’t reach the standards required when they become adults.
It’s exactly the same with your business. If you don’t have a clear picture of where you need to take your business and no plan on how you will get there then, if you’re lucky, it’ll keep going as it has done, but (without luck) no better.
Don’t be like Alice and her conversation with the Cheshire Cat…
“Would you tell me, please, which way I ought to go from here?”
“That depends a good deal on where you want to get to,” said the Cat.
“I don’t much care where…,” said Alice.
“Then it doesn’t matter which way you go,” said the Cat.
“…so long as I get SOMEWHERE.” Alice added as an explanation.
“Oh, you’re sure to do that,” said the Cat, “if you only walk long enough.”
So, the secret to building a successful business is to know exactly where you want to take it and develop the right plan – the right strategy – that will make that happen.
I’ve written an article that helps you create a clear and specific picture of where you want to get your business to next. This ‘Strategic Destination…’ article can be found in my library of free resource. It’s the first definitive step to getting your business to where you want it to be.
Related posts you may have missed
If you don’t plan for success you can only hope that your business will succeed. Don’t hope that it will, make sure it will. Here’s how.
If I asked you what your strategy is over the next 2 or 3 years, what would you say? Would you simply tell me what you aim to achieve? Too many CEOs and politicians do this and call it as a strategy – it’s not.