Overview Chapter 2.02 Principle One

Quick Summary: Business survival is the exception, not the norm. Usually through a self-inflicted wound.

Abstract:

The articles in this section discuss various aspects of Principle One: Stay in Business.  It is obviously the most important of the seven principles.  Without being in business, nothing else matters.  As is pointed out in the articles, unfortunately, business extinction not long-term survival is the norm.  All companies, large and small, new and old, must live by the motto of Adapt or Die to ensure their survival.

There are four Articles in this series with their titles and abstracts listed below.

Introduction to Principle One

Principle One, Stay in Business, is so obvious that it is often dismissed.  Unfortunately, business extinction is the rule not the exception.  Businesses are not started or operated to fail, but in most cases, they do.  Keeping this notion in mind and taking action when the first signs of potential trouble appear is critical in planning appropriate responses.  For startup companies, the first challenge is to actually start, which is far easier said than done.

Someone Will Put You Out of Business

The odds are that someone will put you out of business.  Business failure is more common than success.  You must constantly look for who or what it will be that puts you out of business and what you can do to avoid it and flourish.

Avoid the Slippery Slope

The pressure to "make the numbers" often tempts companies to bend the rules just this one time.  Unfortunately, one time can lead to consistent behavior that will most often result in serious, and often fatal, outcomes.

Staying in Business by Staying Out of Some Businesses

Initial success in one business or with one product can boost the confidence of a company and encourage them to expand.  Although growth is key to long-term success, understanding why the growth has occurred and the impacts on proposed future businesses is critical.  The grass on the other side may be greener, but it may also contain landmines.  So, proceed thoughtfully and carefully.

 

Article Number : 2.020101   

A Handy Reference Guide for Executives and Managers at All Levels.

9 Volumes 36 Chapters ~500 Articles

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The weight of your world does not have to be on your shoulders.
The articles in this site will help to lift that weight from your shoulders.
Pick an article similar to how you pick a route on a page of an atlas.
There is no need to look at other articles, just as you ignore other pages in an atlas.
It is easy to start a business but it is hard to run. Bumps and unexpected sharp turns in the road are always present.
Others have traveled the road before you; learn from them. This site may help.