Tuesday, March 8, 2011

Creating an overall strategy

Are you ready to plan your business? Here is the four-step strategy proposed by management consultants Paul B. Carroll and Chunka Mui:

Think big, start small, fail quickly, scale fast.

Think about the big companies that have failed to think big and missed the next economic shift.
On the other hand, most would-be entrepreneurs never actually get started because they keep thinking big. They plan and plan, subconsciously hoping to avoid actually doing anything. All you need to do is to plan enough to be conversant with trends and potential threats. Then start small, hopefully with no investment. 
If you fail, you fail quickly. (New information may become available as a result of starting, and that new info indicates the idea will not work. But don't give up and call it inevitable failing. Being honest with yourself in the failing process is a HUGE challenge.)
When it starts working, then scale up quickly and become big, before competitors take your ideas. 
In case you are interested, here is thWhole ArticleThanks to Dan Pink for pointing it out!

No comments: