There are two major causes of business failure that result in closure or bankruptcy. The first is a company’s inability to sell its products or services, and the second is a company’s inability to get paid on time, which leads to it running out of money.
1. A company’s inability to sell its products or services: Nothing happens in a company until a sale takes place and the sales person brings in the money that everybody can live off. (more…)
Dwight Eisenhower was the one who said, “What is important is seldom urgent and what is urgent is seldom important.”
Strategic planning is a good example – it’s not urgent but it’s important. Very important.
Many of the day-to-day operational struggles we face in our organizations had their seeds sown in the past, when we failed to plan.
Of course, no one can predict the future, everyday has its own operational struggles but the fact remains that many severe operational struggles have, as their origin, a failure from months or years earlier – a failure in strategic planning. In other words, the absence of strategic planning or poor strategic plans, usually lead to operating nightmares. (more…)