Like most children, you probably were given a bicycle when you were young, and were taught to ride. Of course, when you started out on your travels, a few falls were part of the learning process. When you fell off the bike, your parents told you to get back on the bicycle and try again. Soon, you learned enough about balance and control of the equipment to ride off on many adventures in your neighbourhood.
Business people fall off their career paths and business plans too. Events don't always go according to plan, and it's essential to figure out what went wrong; and why. Just like getting back on the bicycle, after a spill, it's necessary to return to the world of work and business. Of course, like getting back on the bike, you need to reassess of what didn't go according to plan.
Business plans going awry can cause an entrepreneur or manager to lose monry or even fall out of the business world entirely. As with any problem, it's important to know what went wrong, and how to correct the flawed plan and its execution. As with learning to ride a bicycle, where balance and control are required and must be learned, so too with business problems. If the fallen bike rider commits the same riding error, their end result will be more bruised knees and scraped elbows. The business person must also learn what went wrong and correct the mistakes next time.
Becoming a good bike rider takes practice to develop the necessary skills. Cycling also requires preparation for disaster, by donning protective equipment to prevent injuries. Helmets, gloves, pads for the knees and elbows are there for protection in the event of a spill. A bike rider must be protected from broken bones and sprains, as well as cuts and bruises. A business plan needs similar safeguards as well.
With business, it's also possible to practice, and have the business wear some protective gear, prior to the events taking place. Market research can be conducted to ascertain the extent of the market and the potential demand for the product or service. A weak survey result or focus group response can signal the need to return to the drawing board and seek out modified or different products and services.
A pilot project, on a very limited scale, is a great way to test a product or service. If the pilot project shows a very limited response, corrections to the program can be undertaken. Pilot projects are much cheaper, and require fewer resources, than full scale operations. A failed pilot project is not crippling to the organization, and can be rectified with relative ease. An alternative test idea can be substituted in its place.
As with falling off the bicycle, learning potential problems before they happen, and setting out new plans in their place, speeds up the learning process. Through planning and constant testing of ideas and systems, the business equivalent of skinned knees can be avoided.
Get back on that bike, wearing the proper protective gear, and learn to ride it the right way.
