(Photo via Flickr user Boegh, used under a Creative Commons license)
Many weeks ago, an associate saw this article from Economist.com on why U.S. businesses were being destroyed faster than they’re being created. The report originated from the Brookings Institution.
There are many reasons why each business have failed. Since no one has reported on it, we decided to do a script of questions.
Our initial script begins with these five questions:
- Did they ever assess their situation before starting the business?
- Did they ever understand the number of quality competitors in their terrain?
- Did they ever compare and contrast the technical differences between them and the number of quality competitors?
- Did they ever presumed that the situation was going to be static?
- Were they ever prepared for any adjustments?
A Question From the Compass Desk
Based on your answers of the above questions, are you able to script a gameplan that would give you the advantage that is needed to thrive? ... Before you can do that. you have to assess your situation. ... The essence of this practice is knowing what to assess in a daily base and what to assess in a weekly/monthly base.
There is a process to it. ... Do you know it? Before you can assess, you have to know your goals and your objectives? ... It is that simple.
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