Lesson #9
Business Is a Series of “Go” and “No-Go” Decisions
Another of my favorite singers, Kenny Rogers, unknowingly provided some of the best business advice I've ever learned. He sang—in reference to a hand of poker—“You got to know when to hold 'em; know when to fold 'em; know when to walk away; and know when to run.”
The simple truth is that too many business owners start with what they believe is a great plan for success and charge full speed ahead. They're focused solely on the finish line, and don't appreciate the sheer number of obstacles that stand between them and their goals.
In theory, running flat out toward the finish line is great. But few things in business—or in life—go exactly as planned. The secret to survival is keeping an eye out for the mile markers along the way and learning how to recognize the signs that tell you something has to give, change, or even, occasionally, stop.
You'll inevitably encounter some delays on the path to building a successful company. There is real wisdom in being able to tell when it's time to reevaluate the game you're playing. This may constitute a full stop—folding your cards and cashing in the remainder of your chips. Or, it might mean taking just one part of the plan and reconstructing new replacement pieces.
As Rogers so eloquently described in “The Gambler,” the cards don't always fall into place in the way you want them to. Part of the trick of successful entrepreneurship is remembering that a start-up—much like a card ...
