Five Inevitable Business Outcomes and How to Navigate Them
In business, as in life, there are no guarantees of 100% success, yet many outcomes have a 100% chance of occurring. What varies is the degree of result.
Here are a five examples of business results that have a 100% probability of occurring:
- Profit Loss: spend more than you sell, and you will lose money. Businesses that have profit management processes they adhere to are more likely to earn a profit. See to learn more.
- Cash Erosion: allow cash outflows to exceed cash inflows, and your cash position will erode. Businesses that have disciplined cash management systems in place are more likely to build cash reserves. See to learn more.
- Change: consumer preferences fluctuate, markets shift, and technologies evolve. Businesses that are proactive and adaptable to change are more likely to thrive. See to learn more.
- Competition: every potential customer has either direct or indirect options for solving their problems up to living with them. Understanding the who, what, when, where, why, and how for your target customer is how you develop strategies to influence more people to buy from you. See to learn more.
- Risk: all businesses face financial, operational, and reputational risks. Accountable management is essential for minimizing potential losses. See to learn more.
While the above outcomes have a 100% chance of occurring in every business, you can avoid them with a proactive management system. Increase your probability of making more money by taking the “free” BusinessCPR™ Business Assessment to learn how healthy your business is.
Click here to take this no-obligation business fitness test. Upon completing the business assessment, you will receive a risk profile showing how at risk your business is to suffer cash flow and profit problems, the primary cause of business cardiac arrest over the next three years.
