Sunday, May 10, 2009

*Be Careful of Success*

Yes you read the title correctly. I said 'be careful of success'. Why? Why would anyone want to step lightly into the golden path of success, or want to gently tip toe into the uber world of 'makin' it'? 

Well I don't want this post to be a downer but more informational, I'll just share a mini-saga so you can see what happens when success slams you in the nogin and you're not quite ready yet. 

What is success to you? Is it living debt free, or traveling without a care in the world, or maybe splurging without a care to the cost?  Well for your pet business or startup success could mean finally quitting your job, or hiring your first employee, or hey maybe even stroking that very first check to no one other than 'YOU'! 

Or maybe you dream of Oprah overnight success slams. Where she may gracely mention that her dogs only walk with your collars and leashes on.  What would an Oprah mention do for your business, products and/or services. Well from past Oprah mentions we see that those success slam stories come one of a couple of things. 

-->One they're ready for the slam, and they thrive to heights they never dreamt of and are 'the rest is history' stories.

-->Or two they're totally not ready for the slam and just as quickly as they became, they're no more! What we're trying to avoid is this nasty number 2!  

A huge order of 20,000 units would be a fabulous victory right? Well that depends. Think about 
that for a second. Do you have 20,000 of anything just lying around waiting to be sold?  No, didn't think so. So what would you do if 20,000 units had to be shipped to say Target by August? Do you have the budget to float an order of 20,000 units? Do you have a manufacturer capable of doing 20,000 unites by August. Or even 'worse/better' if you're an indie pet business meaning you're doing it all alone, can YOU produce 20,000 units of anything by August?  

Do you see where this is going fast?  And now can you see how a huge order of 20,000 seems like your pie in the sky dream, but could spell overnight bankruptcy too?  Now if this isn't something that you're pushing towards, than this post probably doesn't apply to you a bit. 

But if you want to someday have a thriving company that only needs you for 'big important' sign-offs and decisions' you're gonna need to think this through.  

--->Don't Chase Your Tail Action Plan:  Start by having a step by step plan of action in place for growth. This could be just a list of things that you can implement rather quickly to get a large job done, to your standards and within a reasonable amount of time. You don't need to go an hire a huge contractor tomorrow but you may want to research and poke around a bit and see where the good ones are. Check references and look at their track record.  

Have a plan to leverage your budget or make the most of it in a situation that may require it later. For instance if you're working on an upfront payment basis now with a contractor, try to build up some credit with them now, so that should a large order come a knockin' you can work out terms with them to get the job done! Most companies will work with you if you have a strong payment record with them. 

Yup, I know not the most uplifting post, but one that you cannot just turn your shoulder to. If 
you're looking to grow as you should be, than consider what growth and success could mean for you and your pet business.  

And hey this is actually good news, because when that success slam does come gonnit you'll be ready and be the next super success slam story --- and the rest is history! 

Want my .02? I'd love to share I like doing that!

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