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.
