‘The majority of successful people have a single plan and they are devoted to achieving their vision, but they are able to pivot and adapt’

 

Having a Plan B and possibly a Plan C are vital elements for business and most crucially whatever the size of your business you need to listen to your customers and understand the environment you are operating in.

In this episode, John explores the role of planning in a successful business and shares what can happen if you don’t, listen in to find out more.

 

KEY TAKEAWAYS

• By not having a plan you are inadvertently planning to fail.
• Successful people have a vision and they know on a day to day basis what they are doing to work towards achieving their goals.
• These businesses have a plan B and a plan C to help deal with the unexpected.
• The mark of a good business is that it can adapt and change in the face of regulatory changes.
• There are examples of major businesses who have pivoted and changed to continue to be successful these include Shell who began as an antique business.
• Yahoo is a company which had several opportunities to change but didn’t adapt. They failed to understand that improving the customer service was vital and in doing so aided the growth and success of Google and their own decline.
• You choose to adapt and change your company based on changes in your customers wants and desires and the environment.
• It's critically important to listen to your customers at all times if you don’t you risk your competitors being the business who are listening and providing what the customer wants.
• The environment may be something out of your control such as new legislation, regulation or compliance
• It's important to talk to your customers to understand what they want and to look at the environment you are in and to try and predict the future.
• Taking an overview of the estate agency and letting business environment clearly shows the direction it is moving in is towards with more compliance and more regulation so it is advisable to plan for this now making it possible to adapt when it happens.
• Being vigilant about possible changes enables you to be in a position where you can take advantage of opportunities that present during periods of change.

 

BEST MOMENTS

‘It’s the ostrich, sticking your head in the sand and not facing what you need to do’

‘The arrogance of the management of that company’

‘ If you don’t look after your customers and service their wants and needs then your competitors will’

‘These opportunities are going to be all around’

‘Have a 360 vision to understand where you are and where you want to be’

‘Businesses have pivoted and re-invented themselves to make a comeback’

 

VALUABLE RESOURCES

Where Nokia went Wrong article by James Surowiecki

The Decline of Yahoo in its own Words article by Walter Frick    

 

ABOUT THE HOST

John Paul is a serial entrepreneur in various sectors. He owns the Castledene Group, which employs over 50 people in the North East of England, managing over 2000 properties and selling hundreds more per year. John also consults with hundreds of agents with a view to them building a business to create a life through his consulting business, Agency Consulting.

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