Note: This article is an excerpt from my Entrepreneur’s Survival Reference E-Book Self-Help Manual titled “25 Avoidable Mistakes No One Will Warn You About In Starting Your Own Business”(in which “Failing To Prepare A Backup/Alternative Action” is one of the 25 mistakes discussed). As a result, you will find that illustrations used are more relevant to persons starting up their businesses. Having said that, the ideas proferred here can be easily adapted for use in any other business situation.Do You Have Backup/Alternative Action Plans For When Your Business Suffers Unexpected Setbacks?”One way to succeed is to work hard at not failing by always anticipating problems before they occur” – Peter DruckerCertain successful entrepreneurs are reputed to be uncomfortable with “good times” i.e. when everything appears to be going “smoothly”. According to one book I have read, these individuals formed this habit as a result of past experiences, when such “good times” in their businesses were followed by a string of unexpected setbacks. Their experiences apparently “trained them” to be sensitive to unseen but possibly impending problems or “danger”. During “good times” therefore, instead of relaxing and celebrating, they quickly develop/implement strategies aimed at addressing the problems they anticipate or fears… Read full this story
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