I still remember that day because ive seen the same

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Unformatted text preview: an to overcome some specific business hurdle; what you want is regular planning, full cycle, a complete planning process that becomes a managing tool for growing your business: • Take a fresh look. • Develop your team with SWOT Analysis. • Make strategic choices. • Create commitment. • Establish regular plan reviews. HURDLE: THE BOOK 5.2 ON BUSINESS PLANNING Take a Fresh Look Back in the 1970s when I was a foreign correspondent living in Mexico City, I dealt frequently with an American diplomat who provided information about Mexico’s increasing oil exports, which were a big story back then. We had lunch about once a month and he became a friend. Then one day he told me he was being transferred to another post because he had been in Mexico too long. I was disappointed for two reasons. “What? But you’ve only been here for three years,” I said, “and you’ve barely learned the good restaurants!” He explained to me that the U.S. foreign service moved people about every three years on purpose.“Otherwise we think we know everything and we stop questioning assumptions,” he said,“and that’s dangerous.” I still remember that day because I’ve seen the same phenomenon many times in the years since, in business. We — business owners and operators — are so likely to fall into the same trap. Our business landscape is constantly changing, no matter what business we’re in, but we keep forgetting the fresh look.“We tried that and it didn’t work” is a terrible answer to a suggestion when a few years have gone by. What didn’t work six years ago might be just what your business needs right now. But you think you don’t have to try again what didn’t work in the past. This is why I advocate the “fresh look” at the market at least once a year. Existing businesses that want to grow too often skip the part of business planning that requires looking well at their market, why people buy, who competes against them, what else they might do and what their custo...
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This note was uploaded on 01/26/2014 for the course BUINESS 102 taught by Professor Unknown during the Winter '09 term at University of Phoenix.

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