Entrepreneurs: How Strong Is The Business Foundation?
A Business Lesson in the Three Little Pigs
Probably the most important business moves a business owner can perform is make certain their business is grounded upon a good foundation. As being a house, a business cannot survive within an unstable atmosphere or on shaky ground. If for whatever reason a business owner ignores this idea and progresses to construct their business on uncertainty they’re certainly setting themselves up to fail and loss. Believe me when I say to you that effective entrepreneurs know the need for beginning your business venture due to stability.
Interesting enough, after i consider a business’s foundation I consider the storyline from the Three Little Pigs. I understand this idea may appear a little odd initially however, after further analysis it can make sense. As numerous of you know each one of the pigs built their properties in three distinct ways using three distinct kinds of materials. Within the story, Pig # 1 built his house from straw. Pig number two built his house from sticks. Pig # 3 built his house from bricks. In order to show the relevance between this story as well as an entrepreneur’s business foundation I’ll let you know that a basis built upon straw, sticks and bricks is pertinent to entrepreneurial success.
A Business Foundation Built Upon Straw
Straw may be the material that remains after grain is separated from cereal plants. Typically, whenever you consider straw the idea of animal feed one thinks of versus house building. Within the Three Little Pigs story pig # 1 used straw to construct his house like a protective measure from the big bad wolf. However, the straw wasn’t a powerful enough material and also the wolf could mess it up lower making the pig’s house irrelevant.
Within the business arena exactly the same fate would happen to a business owner that made the decision to construct their business on the foundation made from straw. Straw, with no strengthening agent is an extremely weak material. The smallest quantity of pressure put into it and it’ll crumble down. The best example to some straw foundation will be a business built upon fabrications. Fabrications might be everything from falsified fiscal reports, defective products, along with other deceitful business practices. A business owner that builds their business according to lies will ultimately end up in the wrong finish from the law that could not just cost the entrepreneur their overall business however their status too. Main point here, creating a business upon a straw foundation will probably possess a harmful outcome.
A Business Foundation Built Upon Sticks
Now, if you’re at all like me, you’re wondering if your straw house didn’t work with pig # 1 within the Three Little Pigs Story, then why would pig number two build his house of sticks. Well, it’s because of the same reasons entrepreneurs which have had unsuccessful companies previously repeat exactly the same mistake within their current business. Neither party appeared to possess learned their lesson regardless of the losses. Now unlike straw, sticks have a little more stability and can still have a similar outcome regardless of this fact. Sticks within the business sector are entities for example non-existent business strategies, irrelevant mission and vision statements, along with other overlooked business foundational concepts. If the entrepreneur does not have these key entities in position inside their business then your business is likely to fail just like rapidly like a business built upon lies and deceit. Caused by creating a business on the first step toward sticks implies that the entrepreneur unsuccessful to organize and for that reason they subsequently planned to fail.
A Business Foundation Built Upon Bricks
Now pig # 3 understood the need for building his house on the firm foundation. He even taken into account the truth that another pigs built their property from mediocre materials and would want accommodations once everything came tumbling lower. Being an entrepreneur this is actually the mindset that is required to construct a business on the first step toward bricks. Bricks could be categorized as investments, information technology, key stakeholders, strong business structure, along with other business functions that cause maintaining the competitive advantage. To be able to succeed a business owner must build their business on these solid foundational concepts. Much like within the story from the Three Little Pigs a home build upon bricks can withstand the harshest of elements and won’t fail when confronted with uncertainty.
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