When success comes, most people experience the temptation to put on the brakes and coast for a bit. It’s fine to enjoy success for what it is and appreciate the comforts that business success affords, but it’s critical not to camp out in this phase forever. Not only are successful people always looking ahead to what is next, they are also planning for contingencies. Life is unpredictable, and preparation for unexpected setbacks is prudent, regardless of how unlikely they seem at the moment.
Entrepreneurs not only have to be prepared for their daily responsibilities, meetings and other obligations, they also have to be prepared for hard times. Difficult phases are an inevitable part of doing business, and when you are prepared for them, you can weather the storm with confidence. This can include an unexpected location change, employee turnover, low profit quarters and more. Thinking ahead to scenarios that may not even happen can seem completely unnecessary, but it is something that every smart entrepreneur does.
Most people wait until disaster strikes to start preparing for one. This is faulty and potentially destructive reasoning. Consider how you can prepare for all types of contingencies, save money, have plans in place and purchase the tools that you may need to ride out the bad times. When you are enjoying success, that is the time to think about what could happen in an emergency situation or setback.
Preparation can save you time, money and a significant amount of stress. In fact, it can give you both the peace of mind and confidence you need to feel secure about the future of your business. If you are successful now, start working on ways you can ensure that you have continued success far down the road. Have a plan, think ahead and always be prepared.
By Meagan Kerlin for Vertu Marketing LLC