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Entrepreneurs have a plan B

  • By Alan Knott-Craig
  • January 25, 2016

 

Crossing out Plan A and writing Plan B on a blackboard.

 

Every entrepreneur has a goal in mind. A Holy Grail.

 

A plan A.

 

You must put your entire being into the achievement of that goal.

 

You must focus like a laser.

 

But, you must always have a plan B.

 

If you flip a coin, the result must be: Heads: you win. Tails: the other guy loses.

 

Always have a fall-back position.

 

What do you do if, heaven forbid, the coin doesn’t fall your way? What if everything doesn’t go according to plan?

 

Having a plan B has three benefits:

 

  1. Survival

 

Be realistic. Failure is an option. Make sure that if you fail you live to see another day.

 

  1. Improve plan A

 

Thinking through many outcomes will help you improve your plan A.

 

  1. Gives you confidence

 

Knowing that failure to achieve plan A is not fatal takes away your fear. Have a plan B and you’ll be less scared of plan A.