I’m a bit of a sucker for reading business books. At least in my experience, they rarely say anything startlingly new, more often point out one aspect that may be overlooked or perhaps misunderstood and then give lots of examples for context. Nevertheless saying the same things over and again is still useful as quite often factors are forgotten or else accidentally given low priority. It’s always tempting to focus on those bits you like doing the most!
One such book I was reading recently mentioned the need, when you’re doing something new, to have a Plan B. This may seem so obvious as to be not worth mentioning. However, as an experiment, I asked a few friends (who are building startups) what their Plan B was and a clear answer wasn’t really forthcoming. I guess they were hoping it wouldn’t really be needed.
The book gave as a simple example pitching an idea for a new training course in a company. You could cold-pitch at the bottom rung of the company and stimulate interest and use this as a base to excite senior management. Alternatively you could aim for a referral to get to a decision maker straight away. The ‘If then, else’ approach to planning would be to try one and, if unsuccessful, then the other. They are quite different ways forward although with the same end result.
The point is that the options are clarified before starting an endeavour not at the end or during a project or initiative. This requires a bit of imagination and might be best carried out through conversations, brainstorming or a myriad other techniques.
An aspect of this occurs in standard business plan proposals (of which I have years of experience). The question is often asked ‘If the funding was reduced by (say) 25% what would be impact be, would it still be a viable and worthwhile project?’. This begs the question of course, as one side will be trying to reduce the funding whilst the other to increase it. It might be better to simply ask for some imaginative Plan Bs!