Hey, Darren here.
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Most business strategies suck.
Don’t believe me, check out the statistics on the numbers of businesses that cease trading every year. If you’re a new business – a start-up – well good luck, 20% fail in the first year, with a further 60% not making it past year two.
The business strategy – the plan that is going to provide the vision of success is lacking in many instances. But why?
Business school rams home the importance of a good business strategy. Survivorship bias gives us inflated examples of brilliant strategies. The failures, the ones who didn’t survive, what of their business strategy?
What did they not do?
The answers are never clear cut, instead, we get a pitch of excuses. Not enough capital, poor cash flow, too many competitors…you get the drift. I might levy another excuse – a poor business strategy.
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Founder, The Resolve Blog