Idea 64: Spot your problems early
One’s objective should be to get it right, get it out, and get it over. You see, your problem won’t improve with age.
Warren Buffett, US investor and philanthropist
‘Walking around and talking to people helps me spot problems early,’ one chief executive told me. ‘Because I invest time in engaging people in casual conversation, they tend to point out potential problems I might not see otherwise.’
Do you make a practice of walking around and talking to your people?
The best thing you can do is prevent problems from arising in the first place. Identify the more vulnerable areas of your business. Spot the potential problems within each of these areas, together with their likely causes, and the actions you can take ...