It is really nice to have someone like Anthony Robbins hopping on board with what we have be preaching for years.
Business Plans really are old school tools that are really only useful for attracting investment money from banks or private investors.
If you are actually running a business... YOU NEED A MAP!
And Thanks to Nina Andersen of Your West Coast for pointing out this article to me!
Originally posted on Friday, June 14th, 2013 by Anthony Robbins on his Business & Finance Blog.
The pace of change has accelerated to the point where a business plan is no longer enough to plot the future of your business with any certainty. Disruptive technologies or unexpected competitors can come along and displace your business overnight. How do you position your business in this hyper-competitive environment?
This is force #1 of the 7 Forces of Business Mastery: Know Where You Really Are and Create an Effective Business Map.
To create an effective business map, first ask yourself “What business am I in?”
How is this useful? Back in the early 1900s, if railroad companies in the U.S. realized that they were really in the transportation business, not the railroad business, they could have prevented the entire industry from going bankrupt as the trucking industry took over.
Having a business map really means framing your business in terms that enable you to see opportunities (and threats) that you might otherwise overlook. Knowing what business you’re really in means having a deep and thorough understanding of your customer and the value they gain from you.
You’ll have more certainty about what your business needs to grow now, and you’ll be better able to steer your organization in accordance with that vision. Most important, you’ll understand what business you need to be in to become the dominant force in your market.