Do You Have a Plan B?
While attending Rochas Foundation College, I listened as one of my instructors talked about the importance of reading on thursday morning.” He explained that preparing for an alternative future was vital if we wanted to maintain true life integrity.
My instructor Dr Ken Ketas was talking about picking up your pieces irrespective of failing the exams.He was indirectly talking of plan B. However, the concept also applies to creating a Plan B that you can call on in your financial life.
You Don’t Know What’s Next
Friends life can sometime be unpredictable. You don’t actually know what’s coming. Now pick up a newspaper or turn on the television and you will find what passes for news is usually bad news, real bad news like a monster bombing a gathering center. Don’t mind me, that’s my way of saying terrorist. They are one of the most popular bad news. People want to hear bad news. They want to hear that you were sacked or out of business. They want to hear that Billy Bates is down crashing and you know the most annoying thing? They are happy or showing false remorse.
My point is you need a plan B. So as an entrepreneur or a worker or even a babysitter, you need plan B because even babies could be weird at times. Mothers you know what am talking about, like arming yourself with fifteen diapers and twenty feeding bottles. That to tell you how important plan B is for even your business plan
You don’t know what’s coming. No matter how well you plan, or what promises have been made, things can change just like that. And you need to be ready for it. Every business plan ought to have plan B. What will you hang on if the business doesn’t go well? Do you have other businesses to rest on? Are you going to acquire extra skills in case the fire goes out? Are you going to cut expense to increase profit when competition is high? What is actually your plan B? Do you have an alternative plan? If you lose some of your income, or if an opportunity you were sure about fails to materialize, would you be in financial trouble? In order to avoid or reduce mockery or even going bankrupted, Do you know that you need disciple to set your PLAN B.
I will write next on creating a PLAN B……. Bye and don’t forget to like our Facebook page or follow me on twitter.
I have a friend named Gene, a serial entrepreneur who currently runs a software business. Like many people, last year was a tough one for his company. They survived largely by providing add-on services to existing customers – a decent response to difficult circumstances. They even grew revenues a bit.
But here’s something else that happened: They got comfortable. They decided they could exist on their base of customers, and then they “realized” there would be no new ones.
Is that bad? Isn’t that just accepting reality as it is?
It might not be bad, except that Gene’s people got used to the idea of “no new customers”, and it stuck with them. They’ve continued to draw revenues from this satisfied base, but lead generation and prospecting has remained almost nil. They are now looking at an empty pipeline, and unless things change soon, I’d say the forecast for the future is not bright.
There is a state of mind I’d like to acquaint you with known as the comfort zone.
Perhaps you are already familiar with this insidious disposition. Did I say insidious? How can comfort be insidious?
You know, don’t you?
You get seduced by the status quo. You think things are pretty good the way they are. You like it this way, and you don’t really want anything to change. When I was a young pup at General Electric we called this state of being “fat, dumb, and happy”. And after a while, your progress grinds to a halt.
Comfort is defined as a condition or feeling of pleasurable ease.
You can become comfortable with all sorts of things – good and bad. You can become comfortable with your existing level of business – even if it is not quite as much business as you’d like. You know how to handle it, you can keep your staff size level – and you know how much profit you can earn from it.
Or you can become comfortable with your sources of business – even when your niche is shrinking. After all, you understand these types of customers. You know their personalities. You are familiar with how these particular people will react to your ideas. Isn’t this great, you think.
You can become comfortable with your competition – even if they are bigger or more nimble or just plain better than you. At least you know where you stand, right? And since you think their moves are predictable, you perceive a measure of safety.
And of course – as you can easily see – each of these situations is fraught with danger. If not right now, then soon.
What is so comfortable about the comfort zone?
It goes all the way back to pre-history. Human beings like regularity and predictability. Change is bad. Consider the existence of a hunter-gatherer – living life in the wild – every change in the weather…every change in the environment…every new sound in the night…new people…new animals. Every one represents a mortal threat.
As modern, civilized people, we still prefer it when things remain constant and stable. We’ve learned the right responses so we feel adequate to the challenge. We know how to gauge our efforts, so we don’t have to work too hard for acceptable results. And we can make predictions about the future, so we generally feel safe.
And it just feels so good.
The weird part is we can be comfortable even when we shouldn’t.
Look at Gene’s company. These people got so used to others saying no to them, they just stopped looking for new business. At least it was something they understood, right?
Staying in the comfort zone will kill your business, just as surely as it will kill Gene’s.
Why? “My company isn’t like his. Our business is sound”, you say. What’s wrong with being comfortable, as long as it’s the ‘good’ kind of comfort?
On the face of it, nothing.
Except that things change.
When you are in the comfort zone – that place of pleasurable ease – it means you have accepted the status quo. You like it, and you hope things are going to remain just the way they are. You aren’t changing with the changes. You aren’t making progress. You have probably lost sight of your vision, and you are doing things you’ve done over and over and over…
You’ve become fat, dumb and happy.
And the precipice you are rushing towards is just out of sight around the bend.
What to do about these nice-feeling but dire circumstances? There are 5 steps to getting out of the comfort zone.
One: Recognize that you are in the C-zone
Have you become used to the way things are? Have you stopped pushing your business forward? Have you ceased looking for new opportunities? Have you given up taking new ground? Have you taken your eye off the ball?
Have you started to let certain things – things that used to be important – slide? Have you become comfortable with your current circumstances?
If you have more than one yes – or even one – you are probably in the comfort zone.
Two: Re-commit to your vision
Do you have a vision? Are you passionate about it? When was the last time you thought about it? Is what you see in your future the place you really want to take your life?
If you don’t think you have a vision, or are no longer feeling strongly about the vision you have, then it’s time to do some vision work.
Three: Set new goals and objectives
Where does your newly resurrected vision lead you? What goals do you want to achieve along the way to realizing it? Be specific. Be concrete. (You don’t have to do a whole strategic plan here – just get the motor running again.)
Four: Examine the consequences
If you remain in the comfort zone, what is likely to happen next? What are the consequences of you maintaining your personal or corporate status quo while the world around you changes?
Be brutally honest. If things truly look rosy, wonderful. Good for you. But if they don’t…
Five: Time to take action
The stuff that used to work, well it don’t work now!
In the end, the only thing that really makes a difference is action. Whether you need a shift in what you do or a shift in who you are, either way you need to take action for something to happen. And you may not be used to action-you may have lost the habit.
Here’s the short solution to busting out of the comfort zone: set five new actions which will move things forward.
Pick one and execute it right away. Start today. The best time would be as soon as you’re done reading this. Then pick another and do that. And so on.
It sounds simple – and it is! The hard part is lifting off that easy chair and getting started.
Things feel so good the way they are, don’t they?
This law is a powerful law and it is capable of improving or completing destroying your business. No wonder they said that whatever you truly believe with feeling becomes your reality. You belief acts like filter for information that is inconsistent with them. In one of my my poems “Believe’” I talked about the power of believe along with its good and bad side. You reject information that contradicts what you have already decided to believe, whether or not your beliefs, your prejudice are based on facts or fantasy.
The worst belief you can have are “self-limiting beliefs” these occurs whenever you believe yourself to be limited in some way, so you have to be careful with your belief even in your business.
Self limiting beliefs could be thinking that others are superior to you in some way, that your business w ill never g row. These self-limiting beliefs act like brakes on your potentials; they hold you back and generate the two greatest enemy of success which are- doubt and fear. These enemies luck you up and your daily with paralysis of the mind i.e. cause you to hesitate to take intelligent risk in business.
To break from the shackles of this limiting belief you must reflect any though or suggestion that you are limited in any way. Accept the belief that you are “no limit” person.
Sometime ago, I fell into the mental trap that if you are faced constantly with problems so numerous that you tend to ask, God why me? It means that your sins are after you or God is no more with you. This belief stayed with me for years till I broke out. I realized that God does not punish us and that He was loves us. Well don’t start thinking that I am a pastor right now but I am just telling you what held me back and made me wet my bed because it limited me badly.
The fact remains that nobody is better than you and that is what you belief could cause great harm on you. To win you most challenge every self limiting beliefs that are holding you back weather in business, peer group, at home, office or in your community. You need an honest feedback of someone who knows you well. Meet someone who know you well, it could be you dad, mm, best friend. Ask the person if he or she sees what might be causing you to perform below your potential its. What you might get may pierce your heart painfully but it is mid from doubt and fear. Don’t be scared even though they are vampires, the magic sword, cross or even the so-called holy water is there along with the silver bullets. So aim fire and killed that vampire that is limiting you. Both is your personal life and business
If the first law of business is completion. Competition is something that cannot be abated in business. It make you to think and engages you to set high standard against your competitor if you discipline yourself.
To understand your competitors you have to develop the self-discipline to unravel exactly what your competitors are offering.
You could say that what you are about to offer is unique and has no direct competitors. Well don’t forget that some villains are lurking in the dark to see what you have to offer and if it makes sense, they high jack it and then your naked eye which was not clothed before will be opened to know that the bad boy are really after you. Even if you are offering a new type of food that is sourced from the greatest plant, probably from Mars. You just need to work out what other business are the most likely rivals for your potential customers in terms of time, attention, and (most important of all) money.
For you, you need to become the NO.1 business spy. How? That simple, become your competitor’s partners or pay a sensational visit and feel the atmosphere and total experience that they offer. You become their customers and then check out what they don’t like about their product and services and also what your fellow customers don’t like about them. REMEMBER YOUR ARE ACTING AS A SECRET AGENT FROM BIZTALKSBLOGS, do not blow the cover. Get sales people to run their sales pitches past you or make a purchase complain and feel the quality of the furnishing in their showrooms, if they got music listen to it and know if you like it.
Spy also on their customer, pretend to act as if you don’t like what they have to offer and then listen to what they have to say. Watch the sales staff. Note what makes the customer buy, what they buy, how much they spend, how they react to the whole experience.
Now the conclusion of the matter, what does your competitor do well or badly? If something work well think of how you can replicate it or add your own twist to it. If something works badly think of how you can make it better. Also check their website, sign up and see what the got in their new letter of its design. MAKE SURE YOU DOCUMENT YOUR FINDINGS.
You could send me your BTB mission file if you succeed. Do your sensational spy subtly. If you got problem tell me.