“You won’t get anything unless you have the vision to imagine it.”
~ John Lennon
My friend Paul Lemberg refers to the Comfort Zone Phenomenon as an environment that causes business managers to become “fat, dumb, and happy.” In other words, they become complacent when things are going fine.
The problem with this is that it can lead to becoming reactive with your strategy, rather than proactive. Do you want to be reconfiguring your company and innovating under duress at breakneck speed at the last minute, or well ahead of time when the pressure is off?
Quite a few companies wait until a crisis comes around to kick-start their strategic thinking out of necessity. You don’t want to be planning during a crisis. So, if times are good and calm now, use it to improve your strategy.
Is Your Business at Risk of Failure?
Most businesses fail — they die a premature death. I hate to be so blunt, but this is the truth. The only thing that varies is just how many businesses fail.
What’s the number one cause of this failure?
Well, according to Dun & Bradstreet, the primary cause is lack of strategic planning.
Entrepreneurs and business owners don’t plan to fail. Rather, they fail to plan (which causes them to fail).
Today’s Question: George Bailey, the character portrayed by James Stewart in It’s a Wonderful Life is loosely based upon which banker who was the founder of Bank of America?
Previous Question: Named for a Greek muse and currently given by the Nielsen Company, what are the awards given to reward creative excellence in advertising and design?
Answer: The Clio Awards.
They are awarded in a number of fields, including Print, Outdoor, TV, Radio, Integrated Campaign, Innovative Media, Design, Internet, and Student work.
Join our Tip of the Day
To get Growthink’s Tip of the Day delivered to your email inbox, enter your information below: