As we all know, no matter what stage of development our entrepreneurial project is at, we can never be sure that we will succeed when we start out.
Whether it's to grow your company, make an acquisition or sell it at the best price.
In his lectures, Mike Horn expressed a very interesting concept that he called the "5% rule". Even if he only has 5% of the answers to his questions, he goes ahead with his project. Naturally, his seasoned explorer's mind gives him an advantage over all those who wait until they have 100% of the answers before taking the first step. After all, how many of these people have never taken the plunge?
In an uncertain context, it is always TIMING and ADAPTABILITY that are our best guarantees of success.
Why is investing in the PREPARATION of a project always the right choice?
One should not make the mistake of believing that launching a project with 95% unknowns means not being prepared. How many prior years of daily training, route preparation, logistical optimisation, search for partner brands, setting up real-time monitoring of the expedition... have finally enabled Mike Horn to launch his project with only 5% of the answers to his future obstacles.
How can they inspire their own projects?
What does it mean to "prepare well" your project for success?
How do you define your strategy ("the route")?
How to structure your project ("logistics")?
How to finance it ("the partners")?
Maximising your chances means being able to find all the solutions to the obstacles you will encounter along the way and having support at each key moment in the development of your company.
Since 2008, at Comitatus we have already supported dozens of managers in their company development, with their teams, to make successful acquisitions, or to prepare a successful sale to transform their value into assets.
We realised that having a goal (or as Mike Horn would say, a destination) is not enough.
How many projects do not see the light of day even though their objective is clearly defined, their business plan, their business model... but have not evolved along the way according to the real obstacles encountered?
Clearly defining the obstacles to be overcome and putting an action in front of each obstacle allows you to have an actionable and pragmatic strategy.
Finally, having the right metrics for each action allows you to control your growth trajectory.
If you are not in tune with your KPIs, we can easily help you set up the dashboard that will give you back operational control of your business (especially in a fluctuating period like today when your margins can be eroded).
Moreover, it is reassuring for your financial partners to know that your company has a clear and precise strategy, but above all an ability to adapt it to minimise uncertainty and maximise its profitability.
So for your next project, or your pending growth projects, what do you plan to do?