In business? Get a safety net and an exit strategy
March 28th 2012
I’m learning to do a handstand. Until recently, I could only hold it by myself when I was next to a wall, but when I was practicing on the cushioned flooring at the climbing centre last week I managed to hold it up for a count of 5 in the middle of the space. When I tried again at home I couldn’t kick up at all. It’s the knowledge that I won’t hurt myself falling on the soft floor that gives me the confidence to throw my whole body above my head.
Today we met up with a business advisor, David Stimson, to discuss how he could provide us with support and help guide us through some growing pains. It was a really useful and positive meeting, which left me feeling so geared up I started practicing hand stands in the garden. I figured if I can get over my fear of falling (or learn how to break it) I can get over my fear of (failing in) business. This is something which David talked about specifically. He said that every good business plan should have a get out clause, so that if things do seem to be going belly up (or head down in my handstand practice), you have an exit strategy.
While you’re practicing the handstand you need some kind of safety net, like the wall, which you know will catch you if you go too far. I’m looking for a business advisor to provide us with a similar kind of support at a difficult time in the managing of our business. Part of getting the hang of holding a handstand – as well as having the confidence that you can hold it – is knowing how to safetly get out of it if it goes too far. Talking to a business advisor or mentor is helpful in building up confidence, but having a business plan with an exit strategy gives the ultimate reassurance that (if the ground crumbles underneath you) you won’t get hurt as you fall.