Success for a business, whether a startup or an established business that is expanding, is very often dependent on the delicate balance between confidence and over confidence. None can question that a positive attitude is an absolute necessity for success. This attitude starts at the top of an organization and with the right approach, such as a “we versus me” or a team approach, positive attitudes and confidence in a company and its products and services can permeate an organization.
Positive attitude and confidence must be based on viable and well thought out objectives and strategies. Too many entrepreneurs contact me with great ideas in weak, generic business plans because they believe so strongly in their venture. Yet, the business model or draft plans offer little or no supporting research as a foundation for those beliefs. Without marketing and competitive research that results in a targeted strategic marketing plan and revenue assumptions in a forecast that are supported, business plans are doomed to failure. So often, over confidence is the primary reason.
Many startups, let alone expanding companies, rely on a single individual or a small group that is over confident about the company’s success for the reasons mentioned above and more. How can this be counterbalanced? Often, this can be accomplished with consultants, a Board of Advisors and/or Board of Directors that provide insight and advice that turns statements borne of over confidence into a specific multi-dimensional action plan that inspires confidence in all, including investors.
Feel free to ask tim@thebusinessplanconsultants.com for a free consultation on your business or marketing plan.
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1 comment:
Very thoughtfull post on confidence .It should be very much helpfull
Thanks,
Karim - Creating Power
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