When building a house one of the most important parts is the foundation.
If it’s weak or not made correctly soon enough you will see that everything will collapse on top of it.
We can apply the same concept when you are running a business. By the end of this article, you will know exactly what approach to take to foolproof your business.
There is a saying that goes “The worst number in business is 1”. And it’s 100% true but most businesses learn this the hard way.
Let me explain.
Why 1 Is The Worst Number in Business.
When you start a business you’re the one that does everything, and you understand every aspect of it. You made one pillar that supports each aspect of your business.
From payment processing to fulfillment, everything is in place. You may even hire someone to completely take over an aspect of the business.
You sit back and breathe a sigh of relief not knowing that you have set yourself up for failure.
Small Cracks Start to Appear.
After some time you will notice cracks will start to appear in the pillar you made. You may not even notice until It’s too late and the pillar starts to collapse.
Instantly stagnating your business, means you cannot make progress until the pillar is fixed.
Imagine your payment processor stops working, and you don’t have a backup. Orders are coming in but you can’t process any of them or get paid.
Not a good situation to find yourself in.
Never rely on one pillar to support an aspect of your business. Always have the worst-case scenario in mind and work towards how to lessen the blow.
The same applies to one person doing an important job.
Eventually, something will happen to that person and if you are not prepared you will be screwed.
When he leaves, picking up what’s left can be difficult if you don’t monitor what he is doing.
Always diversify the important tasks to multiple people and keep backups of important information.
Looking Back At The End of The Week.
At the end of every week look back at your business and think“What is the worst thing that could happen ?” Something will pop into your head almost instantly and then you know where cracks can appear.
Start fixing the cracks before they can happen and create multiple contingency plans for all the main pillars that are holding up your business.
P.S. If you want me to look at your business and see where cracks may appear you can contact me here.
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