Most business failures can be traced back to bad planning, poor strategy, and not having access to some of the critical facts. Do you remember the old saying of “luck” being the combination of preparation and opportunity? In today’s podcast, I will be talking about saving a failing business. And how to be better prepared the next time around.
Some businesses aren’t worth saving. They fall into the school of hard knocks category. It’s the “learn before you earn” principle at work. Some components from a failed venture, however, can be repurposed and will fit better into your next effort. In short – putting the work in on the front end will help you build something that can truly stand the test of time.
“Any enterprise is built by wise planning, becomes strong through common sense, and profits wonderfully by keeping abreast of the facts.
A wise man is mightier than a strong man. Wisdom is mightier than strength.”
(Proverbs 24:3-5 TLB)