Lesson #11
Always Be Prepared with Plan B . . . And Sometimes C and D
Fear of failure or FOF—which I referenced earlier—must be a constant sensation for any entrepreneur. In appropriate doses, FOF can provide an adrenalin boost when it is needed most. However, it can also become a way of doing business. The trick is to control FOF and not let it control you. When you do this right, an added benefit is the inherent need to stay one step ahead of the competition and remain aware of what the customer wants before he or she realizes it. It even also means being one step ahead of a problem that, if not avoided, could have become painful—or worse.
When channeled correctly, FOF transforms into a healthy respect for failure that can become one's secret sauce. It evolves into a discipline that leads to having a myriad of contingency plans—A, B, C, and, sometimes, D—for when things don't go the way you expect. In business, that's the case more often than not.
Like it or not, nobody really cares about your Plan A. You might consider your initial plan to be gospel because you slaved over it, but your customers care only about answering one question: What's in it for them? What does this do to make their lives easier, more enjoyable, and more productive? Beyond that, your plan is really only a means to an end. So, you'd better have plans B, C, and D in your back pocket for when the inevitable happens.
In the fall of 2008, when the Great “Soft” Depression hit with a vengeance, many company ...
