Tag Archives: Business plan

Hitting The Line

If you’ve ever played  or watched tennis, one thing you know is that the players seem to approach each point with a plan.

tennis

(Photo credit: Marc Di Luzio)

To a certain extent they play the points backward – what shot do I want to set up, which positioning and speed of the serve will let me do that, and where do I want to hit it?  Part of the equation involves moving the opponent around, far away from your intended target.  Ideally, you can hit it just next to a sideline or the baseline depending on your plan.  The nearer to the line the shot lands, the more likely it is to be a winner.  There’s also an increased chance you lose the point by hitting it out.

Often when one watches high-speed Motorsports, the “high line” is the one that many drivers choose on an oval course.  Generally, the racing groove nearest the wall allows the cars to go faster even if they’re travelling a slightly longer distance (think of concentric circles – low vs. high).  It’s better to go faster and generally the high line is way to do that.  It’s also the line closest to the wall.  Hit the wall – go over the line – and you’re done.

There are similar analogies in golf (aiming for a target along a preferred line with a hazard line along the same flight path) and baseball (bunting very near a base line almost always works better for a hit than closer to the pitcher but it’s just as likely to be a strike for a foul ball).  What each of the athletes involved needs to do is to develop a plan that revolves around their tolerance for risk and the availability of a reward.  You might get spectacular results and you just might cross the line, crash, and burn.

Think of those athletes as you approach your business.  What’s your tolerance for risk?  Is the value of the reward worth going over the line?  I think most great athletes hit those lines – the places where very few can put themselves consistently and win.  To me, that sounds like a pretty good business plan if you can tolerate the risk.  You?

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Most Read Posts Of The Year – 3

Since it’s Foodie Friday I thought I’d add the most read food-related post to our list.  This one comes from the Friday before the Super Bowl and it’s not surprising that like most things Super Bowl it was widely viewed.  I’m not sure too many other writers put together food, business, and football but this was my take last February.

Many of you will be cooking something for Sunday’s big game and so this Foodie Friday we’ll think a little bit about what recipes to follow.  Actually, it’s more about how one follows any recipe, and what that has in common with business.

An example recipe, printed from the Wikibooks ...

Image via Wikipedia

As I think you might know, my feeling about cooking is that it’s more like jazz while baking is more Baroque music– far more structured and precise.  Given that, the way I see recipes might differ from how you see them and how that perspective carries into business.  Let’s see.

A recipe is a guide, not an edict.  I look at them as outlines of the dish, but it’s up to me as the cook to insert the flavors I want to present.  For example, if I’m making chili for Sunday’s game, I know that most of the folks who will be at the party enjoy fairly hot food so I might change the spice mix accordingly.  Cooking veal cutlets for 20 can be expensive but turkey cutlets in the same recipe can be just as tasty.  With a vegan and a vegetarian as members of the household here, I often modify recipes to accommodate their eating styles too.  I have a sense of the destination and the recipe is the map, but there are often many routes to get to where I’m trying to go.

Business is the same.  There are some basic road maps – take in more than you spend, treat customers and employees well – but every business is different.  Sticking to the recipe isn’t always possible, and sometimes the road we wish to take is closed, but with a good understanding of fundamental techniques and enough knowledge of the building blocks (ingredients), one can cope with changing market conditions and take advantage of opportunities (I was going to make snapper but look at the fresh grouper on sale!) that might arise.

So as you’re whipping up that pot of gumbo, maybe try thickening it with okra instead of your usual file powder.  If you’re not having much luck using SEM for online commerce, maybe social media can be more efficient.  It’s jazz – learn to improvise – oh, and Go Big Blue!

 

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Miracle Berries

Let’s end the week with a Foodie Friday Fun look at miraculin.

Things are about to get real tasty

(Photo credit: Jonathan Harford)

I know – you haven’t really thought about it in a while, but as food topics go it’s very interesting.  Miraculin is the stuff found in an African berry that serves to change completely the taste of foods you ingest after eating the berry.  The berry is known as a miracle berry and was discovered almost 300 years ago by a guy exploring the wilds of Africa.  It seems that there was a terrible famine and yet one tribe out of the thirty the explorer met were well-fed.  Apparently they would eat this berry and were then able to eat stuff that under normal circumstances was unpalatable.  In short, it makes bad tasting food taste good.

The berries work by masking some of the taste receptors on your tongue, primarily the ones that read “sour”.  Things that are sour taste sweet.  That’s the business point today.

I’ve known a number of managers who seem to eat miracle berries right before they read their financial reports or analytics.  There is never anything wrong – nothing tastes sour – at least not internally.  Oh sure – the market may be bad (good time to steal share!) so growth is limited or the new product we launched isn’t really being trashed on social media – it’s just a few vocal haters.  This is the business miracle berry at work.

I’m as big an optimist as there is.  However, there is a difference between being optimistic and lying to yourself.  It’s one thing to put a good face on the numbers; it’s another to overlook the realities those numbers express.  If you can’t understand what the data is telling you then you need to do one of two things – find someone who does and is unafraid to tell you or get into a business where you can make sense of what’s going on.  Reading the numbers whilst under the effects of the business miracle berry is not an option.

While miracle berries helped the African tribe avoid famine and stay healthy, the business equivalent of eating miracle berries can get you very sick and maybe even kill your business.  How are your taste buds as we end the week?

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