Plan for Several Possible Futures

The old saying “Don’t put all your eggs in one basket” needs to be brought up to date. I am suggesting that in today’s environment it should read: “Don’t put all your thoughts into one idea.”

We cannot assume that we can predict the future. Looking back in history, many predictions were wrong, for example:

• In the 1950s the baby boom was predicted to create enormous unemployment. Instead, the labor force grew by 40%.
• When VCRs first came out, they were supposed to “kill” the movie industry.
• I remember people saying that television was supposed to kill books.
• I am sure that each of you can add to my list.

I can certainly offer my views of the future for small businesses, but they are my views and I cannot predict the behavior of our prospects and clients.

The only thing that I feel fairly certain about is that the COVID-19 pandemic, the political unrest in our country, the many unskilled people that are currently unemployed and the rapid technological advances will result in unpredictable changes.

The secret is not to “keep your nose to the grindstone”, but to continuously lift up your head and see what else is happening. As hard as it is for a small business owner to master one product or service, you must be prepared to work harder and to explore more than one option.

Recently I wrote about the importance of “pivoting”, being open to the need to change or modify your business products and services, as something that will help many small businesses succeed in any environment.

Yes, work hard to deliver the products and services that are in demand today, but explore and test other options as we travel through the next several unpredictable years.