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Hope is not a business strategy

Hope is not a business strategyHope matters. During these long, weary, cold-and-wet weather days of winter, hope is often what gets people out of bed in the morning: the hope for a new client, an exciting project, a meaningful result.

Entrepreneurs and marketing managers are, essentially, hopeful people. You hope to find customers, to help them meet their needs, to develop long-term business relationships.

But, a strategy that doesn’t take into account what you’ll do if these hopes don’t materialize isn’t a strategy. It’s a fantasy.

  • Hope that you’ll find new customers. But plan how you’re going to do that and what you’ll do if those plans don’t work.
  • Hope that you’ll build effective partnerships. But plan for alternatives in case those partnerships don’t succeed.
  • Hope that you’ll meet revenue targets. But plan your investments in ways that protect you if you fall short.

I hope you’ll have a productive and successful 2012. But more than that, I hope you plan for one too.

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Tim Peter is the founder and president of Tim Peter & Associates. You can learn more about our company's strategy and digital marketing consulting services here or about Tim here.

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