Strategic Business Plans Are Precisely Like Treating Patients Clinically
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Strategic Business Plans Are Precisely Like Treating Patients Clinically…
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Laryngopharyngeal reflux is definitely a controversial entity. Patients complain of hoarseness, throat clearing, globus symptoms,cough and sore throat. Some have coexistent indication of gastroesophageal reflux disease (GERD), some don’t. Some have abnormal physical findings on laryngeal examination, some don’t. Most doctors treat such patients clinically with proton- pump inhibitors for a couple of weeks to see if things improve. We doctors think of it as treating someone within a clinical basis or treating clinically. People think of it as a strategic plan.
When treating someone clinically, you are never sure the treatment will continue to work and are willing to reconsider the verification and also the underlying assumptions you have made when you made the identification and recommended treatment. Likewise once you write a business plan, you are never sure the program is fine and should be well prepared to create frequent adjustments…reaching Plan B.
John Mullins, Professor of Entrepreneurship with the London Business School, and Randy Komisar, a partner at Kleiner Perkins Caufield & Byers , explain all this of their book, “Getting to Plan B”.
The primary thesis is that no battle plan. or business plan, survives the 1st shot therefore you have to be ready to make changes quickly. Exactly like you monitor patients for a reaction to treatment, you monitor your company to ascertain if things are working. If they’re not, and then suggest changes.
Mullins and Komisar recommend using dashboards to monitor your business. The numbers will tell you whether your leaps of faith, beliefs you hold concerning the answers to all your questions despite having no real evidence these beliefs are in fact true, are valid or otherwise not.
On top of that, like you use history, physical exam and testing to observe a patient’s progress, you should utilize metrics and dashboards to watch the vital signs of your business. Those vital signs are your revenue model, your gross margin model, your operating model, your working capital model and your investment model.
You can rely on the fingers of one hand the volume of companies that have succeeded influenced by Plan A. None of them are mine. Be all set to monitor your business’s clinical progress, challenge your initial diagnosis, and, in the event the patient is simply not resolving treatment , make positive changes to therapy before things go terribly south.