Most businesses fail in the first year. In 2019, 90% of businesses failed as they simply were not prepared. By the 10th year, less than 4% of all businesses are still in operation.
When we say, it can’t be done, we simply prep ourselves for failure. One of my most hated phrases is, “I’ll do my best.” If that isn’t foreshadowing, I simply do not know what is. I know there is failure in the world, but I’d much rather hear, “Oh no, don’t worry. I am going to make this happen.” In truth, that person will.
Still, all the bravado in the world doesn’t win 100% of the time. Preparation, and being able to pivot with changes does. Blockbuster didn’t see the writing on the wall that was spray painted there by Netflix. I do not mean the Netflix you know today. I mean the Netflix where they sent a DVD to your front door. Blockbuster flatly refused to see it and refused to pivot. Netflix pivoted though. They could have said that people like getting DVDs to their door, and NOT changed to streaming. If they had done that, they would be a thing that your children no longer remember.
A businesswoman I knew used to say, “Don’t tell me about the pain. Show me the baby.” The trouble getting there wasn’t important, but the fruits of the labor were. Netflix doesn’t sit around and reminisce about the good old days of mailed DVDs. They are looking for what avenues the future holds.
Be bold, be brave, be prepared, and be ready to pivot.
Do you feel like you are struggling with putting "strategy" and "business growth concepts" in place that make a difference? Doing it all is overwhelming! Let’s have a honest discussion about your business and see if the Power of 10 can help you. Click “HERE” to have a great conversation with our team today.
Written By The Strategic Advisor Board - Will Black
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