Do you have a Plan B for your business? For that matter I should also ask if you have a Plan B for your life? The world is going through a huge transition right now. We’re moving from a What If? mentality to a What is! reality. The fact is that most people had no belief that what is happening today would have ever really happened. Thus, you’re not prepared, you have no options and you get sucked into the abyss of a community group think. Right or wrong you find yourself in a state of panic and at risk of all kinds of negative situations that you could have avoided if you had a Plan B.
In fact, I recommend to my business coaching clients that we routinely develop Plan B and Plan C and sometimes even a Plan D and beyond. This might sound crazy to some, but I believe that this practice is incredibly important. Remember What if? There shouldn’t need to be a worldwide pandemic for us to be personally and professionally prepared. I want my clients to not just think, but to know what the plan is if a disaster of any magnitude occurred. What would you do if your business burned down? What would you do if your partner was in a car wreck and you had to take over your business? What if your supplier suddenly went bankrupt?
The secret is within the level of your analysis and honesty that you’ll force yourself and your team to have. I’ve long held the idea that we must be prepared for doors to close in our lives and our business. The example that I’ve used for years is one where a traditional minded business is running down a path beside a competitor that lives and breathes an aggressive entrepreneurial mentality. One is mired in a traditional mindset, while the other lives from an entrepreneurial mindset with a willingness to adapt and change. Let’s say a door suddenly closes on both. The traditional business stops everything. They form a committee and 1.) Spend untold budget on trying to identify who is at fault and 2.) investigate why the door has closed in the first place. At the same time, the entrepreneurially minded company reacts completely differently. They have a Plan B. So, while their competitor is stuck in a black hole of blame based traditional analysis, the company with a plan makes a quick decision. They understand that the door closed, but the decision is whether they turn left or right. They choose right and they’re on their way again with Plan B and they’re back to running full speed.
Your Plan B or Plan C might be what keeps your business or your career alive. You can watch the news and go into hiding until something changes, or, you can have a plan, adapt and adjust and continue to move forward. Ask yourself if you’re happy wallowing around in uncertainty and self-pity focused on the WHAT IF’s of life. If you are stuck here, understand that you are stuck here and you’re ok with that, and then just be quiet. Stop complaining. The option is to understand the WHAT IS, think about your opportunities, and then make a choice and get after it.
Think of it this way. While everyone else is in hiding, you can attract and potentially steal your competitions customers and their connections and quickly, before they pull their head out of the sand, you own the market.
It’s your choice.