Friday, August 19, 2011

Understand the New Rules

Assessing your situation correctly is important to making a good decision.  Knowing the conditions of key people, allies, and partners is a major consideration for successful planning.  Here are a few observations I've made this week in conversations with leaders for you to consider:

  • Old allies may be less reliable in the future. 
  • Financial institutions continue to tighten their belts and raise their expectations.
  • Partners are looking for ways to break agreements given the realities of the market and the potential for another recession.
  • Most people are not open about their concerns or conditions until they become dire.

These variables should be considered in your planning and decision making process.  How will people you rely upon be impacted by fear, pessimism, fewer resources, or new standards?  How will their actions impact your plans and choices?  Are some of your key relationships about to change without your knowledge?  What are the rules for this market?  It's better to have the answers to these questions as soon as possible in order to establish contingency plans. 

Practice foresight; don't be blindsided.  Ask people the important questions and let people know where you are in these times of uncertainty. There will always be people you can trust- it's your job to find out who they are.

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