During a recent training event I was fortunate to hear Bryan Mills speak. Bryan has had a long and successful career creating and managing IT related businesses (although without an IT background himself). His particular claim to fame is building CMG from a two person business, operating from the founder’s homes in 1965, into a multinational FTSE1oo business.
During his fascinating talk recounting lessons learnt from a lifetime as an entrepreneur he used the analogy of playing Pooh Sticks for business start-up.
When you are planning to start a business you look down into the swirling river below (the market place for you product or service), you try as hard as you can to see where the current is flowing strongest and is least turbulent (assessing the market opportunity with published and field market research). You drop your stick in as carefully and accurately as you can (detailed business plan preparation). And once it is in, you follow it with Eagle eyes, watching every bob and weave (you track every activity minutely in your newly founded business).
However once the stick goes under the bridge it moves both out of your control and out of sight, and there is nothing you can do to influence its route down the river, across into a bank of reeds, or dropping down to the bottom of the river bed. This is very much the situation once your business is up and running. All kinds of unpredictable events can knock you off course, or sink the business altogether.