Sunday, June 29, 2014

A Perspective to Why U.S. Businesses are Being Destroyed Faster than They’re Being Created (Economist 05/14)

(Photo via Flickr user Boegh, used under a Creative Commons license)

Many weeks ago, an associate saw this article from 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?
It is so easy to be distracted.  Magical thinking could only go far.  ... 

The graphics are from Washington Post.

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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