Avoiding Problems

Albert Einstein said “A clever person solves a problem. A wise person avoids it.”

Should Entrepreneurs be clever or wise? Unexpected problems come up in any venture and one needs to be clever to solve these issues on a timely basis.

But, if you could create a business culture that avoids problems or prevents them before they surface it would be wiser. How do you do that?

In any functional area of your business, strong business processes are required. If such processes provide triggers to flag potential problems, it is possible to avoid a taxing situation later.

A simple example – if you anticipate that you can not meet a customer’s delivery requirement after the order has long been placed, avoid a problem later by informing the customer well ahead of the delivery date and work jointly to create an alternative solution. Similarly, if there is an employment situation that could result in potential litigation, do not sit on it. Identify the possibility of such situations and create systems to resolve them before they become serious problems.

Avoiding problems would be more cost-effective for Entrepreneurs than solving them. Do the Right Things!

Ravi Patel

www.patelCFOservices.com

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