REEthink…REEadjust to beat the competition
Too many times entrepreneurs find the key to success in any given endeavor. Then…why do over 86% of small businesses fail every year (USSBA)?
The answer is two fold. First…they run their business like a business…not an entrepreneurial venture! This fact is usually most disturbing to the business school graduates and professors that have been teaching this dogma since the 1920′s. Second…they think that what works today will work forever. Times change. Markets change. People change. So…when things change…and the entrepreneur and their processes don’t…bad things can happen. More than likely…especially when things are working well…the last thing on an entrepreneurs mind is “changing the course”. They adopt the “no need to fix it if it isn’t broke” mindset. Once this “failure to recognize change” creeps into the entrepreneurs day-to-day activities…it is only a matter of time before the entire organization is at jeopardy.
The only way an entrepreneur can continue to compete…continue to succeed…is to REEadjust everything BEFORE they really need to. Staying one step ahead is fine for the status quo…but the long term, successful entrepreneur REEadjusts on the fly. They need to make their REEadjustments based on advanced, calculated risks, and desired benefits BEFORE the competition even knows there is a need to REEadjust.
How does the entrepreneur know that there is a need to REEadjust? They know because they must REEadjust before their competitors even realize the need to REEadjust. That means that the entrepreneur must be a student of their markets and their consumers. The successful entrepreneur knows that it is easy to “out-perform” competitors if you “out-think” them first!
REEadjust early…and often.
Here is an article from Entrepreneur Magazine that highlights some key points for adaptation and REEadjustment;
http://www.entrepreneur.com/article/219969
REEmember…REEthink Everything!
Gracyn
