One evening, in the midst of our typical pre-dinner distractions, I turned to my son just as he was about to eat a spear of celery from a large kitchen knife. When I asked why he would do such a thing he responded, “That’s how pirates do it.”
Of course, perfect 8-year-old logic. But it shivered my timbers.
Part of the fun of being a kid is imagining all the wild dangers around you, and the heroic actions you would take to overcome them. When you’re a business owner, this is not a fun exercise. Sometimes it’s easier to ignore dangers than to face them.
This is a great time of year to revisit your business plan and make sure your ship is still on course. Ask yourself:
- What other ships are on the sea? Has your competition changed in the past year? Who has entered the market? Left the market? Do you need to respond?
- Has the wind shifted? Are you impacted by tax or other regulatory change? Will it have a financial impact next year? If you don’t know, who can you consult to see how you might be affected?
- Is the ship sound? Is your technology safe? Are you backing up regularly? Installing updates as needed? Using reliable virus protection? Safeguarding your log-in information?
- Do I have adequate provisions for the journey? How is your cash flow? Are you getting paid in a timely fashion? Are your expenses in line?
- Can I avoid cannon fire? Do you have an emergency plan in place? If not, see these tips for putting one together.
The winds may seem calm, but don’t let your guard down, captain. There are sharks all around us.
What do you fear might be hiding in the fog? What are you going to do about it?