Above 90% of new companies fail in the few years of foundation. Even those that remain doing business, struggle to break even and make desirable profits. Why? It can only be for one game-changing factor, operation strategy.
All business success comes down to one thing, ‘operation strategy‘. The manner in which you organize, coordinate, manage, direct, plan, and execute your daily business plans. This is where failure or success is hatched.
Inefficiency and ineffectiveness at this significant level are what cause business failure, by default.
More pathetic for any company is not failing to plan, it is planning and failing to implement the plan as planned. Such a waste of time, resources, and energy. And for what? Doing nothing.
Most business directors, entrepreneurs, and investors have yet to understand the power of going through with a plan. Most of them stop at planning, others at implementation trials but certainly a large number of them never go all the way. Halfway they stop; either they turn around, or act bravely to just find a shortcut (still wrong).
A street vendor plans too but they lack principle and resilience in whatever they do. I’m not talking about how they stand in the sunshine for prolonged hours, or how they continue selling as it rains. no. I’m talking about obtaining victory before going out to hustle — which can only happen through strategic planning of daily business operation activities.
Street Vendors (bless them) hustle, companies should not.
A company that is hustling is doing something terribly wrong. The first thing strategic planning relives of people is hustling. How?
The most important and urgent role of strategic planning is anticipating and removing all bottlenecks along the business path. Every stone is turned to know what happens and might happen, what works and might not, what takes a long time or short, what needs what, when, and how.
Street Vendors, on the other hand, act and behave largely on impulse and emotion. If on any given day, they feel like smiling at clients, they will smile. But Other times they won’t. A company on the other hand, if it must succeed, must be consistent with what it plans. If the plan is to give a discount to 100 clients. Don’t stop at 20 and say that’s enough.
Go all the way with the business plan.
Going all the way with a plan enlightens you about what works, when, how, and why. Going halfway or no way at all cultivates business ignorance and recklessness. No matter how long you remain in the busines, with regard to business knowledge and expertises, if you never go thorugh with your business strategic plans, you are as good as a beginner. .
ABOUT THE AUTHOR: Yewe Yewe Online Community @ yeweyewe.com