Author: Les McKeown
|Predictable Success (2009) is a simple three-step guide, a three-phase process that all businesses need to follow to achieve their goals consistently and without fail. Each step of Predictable Success has a set of requirements or prerequisites that need to be fulfilled before proceeding to the next. If you don’t complete one phase before immediately starting the next one, you put your business (and yourself) at risk of severe long-term consequences.|
There are many reasons why a company may fail to achieve success. They might have no market or customers and are thus hard-pressed to generate enough revenue to pay their bills. They may have a great product but no capital to put behind it, thus resulting in a loss. Failing to calculate costs, they might end up spending more than they can earn and be forced to shut down.
Likewise, many companies start out aiming to achieve success, yet few achieve their desired goals. The ones that survive do so due to their ability to plan for failure and have systems in place by which they can cope with such a situation if it happens.
The question is, why do some companies succeed while others fail? One of the reasons is the fact that many firms lack a good market strategy. There is also competition from other firms as well as the customers themselves. Some firms also do not have good financial planning. Others fail because of improper leadership and so on.
Before running into any danger, a firm should consider the fact that it can run out of money and customers at any time. This summary of Predictable Success will help you get the competitive edge it needs through some strategies.
Predictable Success Key Points
You must know about three phases of predictable success
If you want your business or company to achieve the greater success and be on the list of big companies, then try to understand these three phases:
- Early struggle
When you’re in the early struggle, you’re mainly struggling with just two questions: Do enough people buy my product?
Can I pay my bills in cash? If you can answer ‘yes’ to both of those questions, then you’ve hit predictable success. Be able to answer yes to both questions and you can comfortably move on to the fun.
During the fun stage, you are making enough money and having fun doing what you are doing. You might be working hard but it is not tortured anymore. You’re learning, helping, and serving as many people as you can in a way that comes naturally to you.
In whitewater, the same two questions still apply. Your product or service is still being bought, and you’re still earning a living from it. But the answers no longer come so easily because now you are facing the challenge of sustaining your business. If you are going to make it through this stage, it can be said that you need to be a bit of a warrior. Whitewater can last for years, and as long as your business keeps bringing in good money and paying your bills, don’t jump out.
Simplify the decision-making process
The most common way to deal with white water is to make decisions simpler. In whitewater, there is an impulse to avoid the rapid or to get out of the water. But, what if the rapid is the best place for you? What if there’s not enough water to float your boat? What if you have a misfit crew? Tough luck, you have to deal with it.
In kayaking and other businesses, this means figuring out how to simplify decision-making and making sure that it happens at every level of your company. It might also mean making decisions faster and with less information. People will always have time to complain, so when a decision or your willpower doesn’t work out, don’t listen to them.
People who aren’t experts in decisions making might seem like they’re making decisions quickly, but they’re just making bad decisions. If you think about it, there are two types of decision-making. When people are bad at decision-making, they look at things too broadly and don’t think about the specific details in front of them. People who are good at decision-making concentrate on all the details in front of them, so that their decisions are more data-driven. To make good decisions in whitewater, you can’t look too far away or too closely. You need a balance.
These systems can help you get predictable success
Having all of the tools in place is just not enough if you are not using them. Needs to be said again: You need to use what you have learned and apply it. You need to make use of those systems and wrap your head around them. So, how do you do that? What actionable steps can you take?
First, you need to monitor and track data and information relevant to the success of your project, work, or life. You will want to get a read on the data and information stream 24/7/365 so you can plan accordingly. Use this data to debate and decide where you want to be going to make a course correction if needed.
Planning only allows you to know what needs to be done. It does not guarantee that it will get done. This is where Defer comes into play, your ability to delay gratification or at least the gratification of that thing that needs to be done until a later time when it is more appropriate. The key here is knowing when that time is.
Data – Debate – Decide – Defer is a four-pronged approach to decision-making that allows a team to be fully prepared to decide when it’s time to take a risk on a new project.
Making risk-taking a part of day-to-day operations will put you in situations where you have to take risks and learn from them.
Predictable Success Quotes
“You should finish every day by answering this question: “What did we do today that took us closer to finding a viable market for our product (or service)?” Les McKeown
“Plan to start your business in “listen” mode—you’ll find out where your customers are by asking, not by talking.” Les McKeown
Predictable Success Review
Predictable Success is a good book for people who just started their business and want to get huge success in the future and predictable results. It described the very helpful points. Easy to read and a good guide by the author. Recommended.
To whom I would recommend the Predictable Success summary?
- Anyone wants to start his business.
- Who is struggling with his business but is not getting the desired results.
- Anyone who is not good at decision-making.