Planning does not guarantee business success

Planning does not guarantee success. Nothing guarantees success, however good planning reduces the chances of failure. Appropriate planning, tailor-made to the project or initiative, provides the platform to enable success. For emergent industries, tailoring planning is particularly relevant. Innovation thought leader Michael Porter recommends scenario-based planning to help anticipate and forecast the future. Identification of…

Factors affecting your business success

IDENTIFYING and capitalising on factors which assist the success of a potential business opportunity requires significant research and planning. The greater the planning detail, the greater the opportunity for success. In beginning, a thorough assessment/ benchmarking of the proposed venture is critical for success. A detailed assessment of a new opportunity would begin with a…

The inkling of opportunity

IDEAS plus: Research Assessment Planning Benchmarking Refining Positioning Experience Capacity Conviction and Actioning delivers OPPORTUNITY. Entrepreneurial academic Howard Frederick notes that entrepreneurs “blend imaginative and creative thinking with a systematic, logical process ability”. In this way, successful entrepreneurs mitigate risk and capitalise on opportunity when driving a concept into reality. Research is required to understand…