When Plans Go Wrong

Posted by Christos on 7/6/2017 to Advanced Business
When Plans Go Wrong
When plans go wrong

Setting up a new business is very hard. Every start-up company is faced with thousands of parameters that need to be controlled involving a lot of pain and effort. The factors that can go wrong in the process are plentiful and it is true that more than 70% of the new businesses fail. The critical elements that differentiate the ones that fail from the ones that succeed are ability to learn from mistakes, the urge to stand up every time after falling and communication.

When starting, no formal communication channels have been set in between business owners, managers, providers or external advisors yet. Important information that needs to be transferred from one part to another can be delayed or not transmitted clearly. It is certain that a lot of things will go wrong over time and plans will not always run as expected. To avoid making things worse and minimize the damage when something bad happens, the best policy is to share the unpleasant information with all involved stakeholders and try to find a way around it. Panic does not help at all, positive psychology, clear head and nerve are needed to visualize the big picture and focus on the main aim re-planning accordingly. At this stage a brainstorming session between people involved or just asking help or advice from someone more experienced could lead to overcoming difficulties. After all it is very uncommon for a business to reinvent the wheel on every little process. Many things have been done before and common mistakes have been identified, the experience is somewhere out there to provide the optimal solution on all common problems. The worst action and decision that can be taken is to freeze and do nothing!

Communicating with the right people and taking action promptly and decisively is the only way out of problematic bypasses and re-routing to the desired direction.

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