In other words, don’t be on the defence. According to Gary Vaynerchuk at The Entourage, it’s the biggest mistake young entrepreneurs can make. He says: “Quite simply, market conditions right now are not allowing for young entrepreneurs of today to cultivate strong business discipline.”
Times aren’t always going to be so easy; financial ebbs and flows are ahead of us. And in saying that, it’s important to always try to be ahead of the game. Don’t wait for things to happen and then think of a defensive way to combat it. Try to cover your bases and predict trends – good and bad – before they arrive.
Obviously, we’re not fortune tellers. But it’s imperative to stay on top of the latest developments in your field, as well as finance, legal and policy changes. If you’re not great with that stuff, look at hiring someone who is. Or “hiring your weakness”, as we mentioned earlier on the blog.