Last month I covered the fourth of the Five Pillars of Business Success: People Systems.
In this post I discuss the fifth of the Five Pillars of Guaranteed Business Success: Taking Action.
So you have just had this fantastic business idea, or learned of a great new strategy. What is the most critical barrier to success?
Back in the early eighties I had this fantastic business idea. At that time I was working in the US for another company. Whilst there, I noticed that they had home delivered pizza. This was especially great in the winter when there was snow on the ground and there was no way I wanted to go out. It was then I first heard the Domino’s pizza slogan – delivered in 30 minutes, or its free!
This was before the time there were any pizza home delivery stores in Australia. They didn’t exist. So I came up with the idea that pizza home delivery would work in Australia… if only I knew how to implement such a scheme. I was sure this idea was worth a lot of money. But once back in Australia, but what do you think I did next? If you said nothing, you would be absolutely right!
At that time, I had no idea how to implement such an idea, and there was no way I was going to quit a well paid job to risk everything on this great idea. Clearly there was one big impediment for me: I was not convinced that I had the ability to make this idea work. It was safer for me to keep on doing what I had always done.
Three years later, Dino’s pizza home delivery started in Australia, which grew to be a national franchise and was, within a few years, sold for millions. I had the idea 3 years before Dino’s started up. I had a first mover advantage, except for one thing…. I didn’t move! You can’t patent an idea. Someone else can have the same idea.
So how much is your great new business idea or strategy for your current business worth?
Nothing unless you do something with it. Prove the concept works. Set up a pronto franchise or a pilot. Once you prove the concept works, then the people with money will come along.
If you don’t know how, find someone who does. And if you hire someone to help you, but don’t follow through, you will have wasted your time and money. No implementation, no results.
Sometimes I’m asked, “Do you guarantee results?” My response is “My strategies work. You can see the testimonials from many happy clients, but if clients don’t implement, nothing happens. How do you propose I guarantee that you will implement the strategies I recommend?”
May Your Business Be –As You Plan it!
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Dr Greg Chapman is the Director of Empower Business Solutions and is Australia's Leading Advisor on Emerging Businesses and provides Coaching and Consulting advice to Australian Small Business Owners in Marketing & Business Strategies Planning & Systems. He is also the author of The Five Pillars of Guaranteed Business Success and Price: How You Can Charge More Without Losing Sales.
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