Russell Bell: Strategy key to avoid 'Plan B'

PLAN B. We all should have one to be able to cope when our plans are dealt a blow. One thing is certain, we are more likely to be successful if we prepare for and have alternatives.

For business owners, we often face uncertain times, and it's fair to say that from time to time we might have events and "left field" situations that will threaten the achievement of our objectives.

In fact, the business greats like Richard Branson all talk about having a plan B and/or having an exit strategy so that if things turn to custard you have options. We saw a few years back Apple execute its own Plan B with the sad passing of Steve Jobs. His legacy is the unique products and systems he created and the team he left to carry on with his vision, and I am sure that his departure was planned for. Albeit (after a discussion last week with a friend about the sheer volume of Apple's current production) I look at the battery performance of current models and wonder if the Apple "Plan B" needs a revision!

In the case of the All Blacks, there were several ups and downs on the pathway to the World Cup triumph, including serious and non-serious injuries to star players. If you have a great team in your business, you can overcome most obstacles as the combined power of teamwork brings more strength than the individual component parts.

The other thing going for teams is that you can implement systems and processes to manage situations. Where the processes and structures which are there to support the team are cutting edge - from researching a market to training & development regimes - it is clearly evident, not only in financial performance, but also in terms of how businesses are positioned and perceived in a market. A business with robust and best-practice processes and systems performs well. It will therefore come as no surprise that designing and implementing best-practice systems is the most satisfying part of my job.

And this is where investment in processes and eliminating waste becomes so important. If your business is functioning at the highest level, the need or requirement to execute a "Plan B" becomes less likely and even unnecessary. It is correct to have one ready if you need one, but you are less likely to use it because effective processes mean you will have a business which is functioning at the highest level. With a well-defined strategy and highly functioning processes in place, a number of other benefits flow with it - among these, highly effective culture, the ability to take advantage of opportunities, the elimination of "firefighting" and clear communication internally and externally (to name a few).

Yes, those of us with the best "Plan B" are more likely to walk away with the prize, but if you have the right strategy, structure and processes you will have no need to reach one.

-Russell Bell's Zenith Strategic Solutions is a specialist Wanganui business advice and consultancy practice - if you want more information on how they can help your business, call Russell or Stephanie on 06 3479997.