Business owners need to be well organised and must commit to planning.
Through the planning process you will make decisions. Decision making is a critical component of being successful. Be clear, procrastination or not making a decision is a decision in and of itself. You can only plan what you can control.
One of the things you have very little control over in business is your supplier’s ability to supply. As the world gets bigger and natural resources become difficult to source, supply will become more difficult. You could run out of things to sell because you can’t get them in a timely fashion or at an affordable price.
Take the current example of soft wood milled for building timber. Some resellers can’t get enough product to sell to their existing customers. It’s not their fault there is a world shortage of available timber caused by high demand for construction worldwide. As well as the negative impact of a world pandemic which has affected timely manufacture and capacity. Additionally, fires, floods and droughts have influenced the ability to grow, harvest and transport timber in plantations around the world. If you have a business that sells or uses soft wood milled timber you might run out of product. This will affect your business. So what is your plan? What are your choices? Interesting…
When demand is high and supply is low prices go up. Astute business owners are always planning, assessing and calibrating their plans regularly to stay competitive in their industry. Planners have outstanding businesses that are flexible and adjustable in short time frames. They adjust to whatever conditions they find themselves in. Charles Darwin actually said that evolution is based on your ability to adapt.
Do you have a plan? Where is it? In your head where no one can see it? That is a great place to hide in your business.
If you want to learn how to be outstanding in your business ask me about my “scarecrow strategy”.
Chris