In developing an entrepreneurial strategy for taking advantage of irresistible forces, it's very helpful to be sure that you first understand the force. Otherwise, you may inadvertently pick a strategy that opposes the force.
How can you be sure that you've understood the trend? The longer the time perspective you have on any trend involving irresistible forces, the more you will understand...
You do better when you investigate how you will do if you face setbacks, rather than solely considering the implications of the successes you are seeking out. What question should you address?
Here's the answer: What are the worst consequences that can occur if you follow the path you are considering?
Let's assume that you are doing stock-price improvement thinking. If the action you...
In looking at irresistible forces (powerful trends outside your control), you will often find that their causes have been irreversibly in place for many years. This circumstance is especially true for irresistible forces based on demographic trends.
For example, in most of the developed world we can safely assume that there will be enormous growth in demand for products and services...
Is a strategy good for you if you might double your business but have a high risk of going out of business? People will differ on the answer to the question, but all would agree that it would be desirable to know what the risk is and to see what can be done about it before starting such a strategy.
Here are three key questions you need to start with if you want to avoid harmful risks while...
Value conflicts arise frequently in enterprises, leaving those who work in them confused about what to do next and losing effectiveness as a result. A common value conflict arises when a company chooses on-going "head-count reductions" as a key strategy for increased earnings and faster corporate growth.
The message that the employees may infer from this behavior is that the company...
If you are in an impenetrable jungle and suddenly find that there is molten lava flowing near you, chances are there is a volcano somewhere nearby. You may not be able to see it because of the rain forest canopy, but you can search it out based on using that inference.
An economist arrived at a company's headquarters in the 1970s and reported on his latest forecasts for consumer...
Imagine that you've just started a new company with a business plan that succeeds like gang busters. Pretty soon, it's hard for you to imagine that anything else but such success can follow. When that happens, you've hobbled your future with wishful thinking that will get you into trouble when competitors find your vulnerabilities.
Data Terminal Systems (DTS) was one of the highest flying...
Optimism about the future certainly has a positive place in the overall scheme of things, but it is frequently found to fuel wishful thinking. Consider the typical hockey-stick forecast of the future.
Let's say your operation has been doing poorly. In fact, results as measured by revenues and profits have been dropping.
You sit down and plan ways to overcome this negative trend....
"Neither a wise man nor a brave man lies down on the tracks of history to wait for the train of the future to run him over." --Anonymous
Assuming that future conditions will be what we want them to be -- either for the better or worse -- can stall an enterprise unprepared for the irresistible force of an unpredictable future. You need to recognize the pitfalls of wishful thinking about the...
In the Land of Oz, Dorothy always got into trouble as soon as she left the yellow brick road. When dealing with irresistible forces and potential stalls, you need to check constantly that you are on the right path and positioned favorably for achieving success, especially when the road forks.
Are your irresistible forces providing tailwinds, crosswinds, or head winds?
Begin by...
