Using luck as a business strategy!

Many entrepreneurs believe that having a bit of luck sets them apart from their competitors and allows them to thrive in an increasingly competitive marketplace. However, as business guru Peter Drucker once said, "Luck is a residue of design." This means that while luck may play a role in a business's success, it is ultimately the result of careful planning and strategic decision-making.

The problem with relying on luck in business can lead to a false sense of security. Entrepreneurs who believe that they have all the luck on their side may need to plan for potential risks and challenges, which can ultimately lead to their downfall. Additionally, relying on luck can lead to complacency, as entrepreneurs may believe that their success is guaranteed and may not put in the necessary effort to continue innovating and growing their businesses.

Engaging an external business advisor is one way to avoid relying on luck in business. An experienced advisor can help entrepreneurs identify potential risks and challenges and develop strategies to mitigate them. They can also provide valuable insights and advice on staying ahead of the competition and continuing to innovate and grow. An external advisor can also serve as a valuable sounding board for entrepreneurs, helping them make more informed decisions and avoid relying on luck to succeed.

In conclusion, while luck may play a role in a business's success, it should not be relied upon. Entrepreneurs should focus on careful planning and strategic decision-making to ensure long-term success. Engaging an external business advisor can help eliminate the problems associated with relying on luck and provide valuable insights and advice on achieving success. As Peter Drucker said, "Luck is a residue of design." Businesses should be designed to minimise the role of luck and maximise the role of good strategy and execution.

Let's take "luck" out of your strategy playbook.

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Author

Andy Hamer BA (Hons) Marketing Engineering FCIM

Andy is a seasoned technology business professional with a wide range of experience in commercial, sales, marketing, and operations.

Andy has successfully delivered disruptive technologies to the market in the UK and globally, building a successful career in technology-enabled businesses by joining sectors undergoing disruptive transitions. He has a diverse portfolio of experience in commercial areas such as sales, business development, account management, strategic planning, analysis and marketing, business acquisition, gap analysis, investment development, and go-to-market strategy, as well as expertise in product marketing, development, management, and technical awareness.

Andy is passionate about helping his customers find solutions that will improve their businesses, increase productivity and quality, reduce costs and waste, and generate more profitable business while minimizing risk.

My consultancy clients have included major technology companies: IBM, DEC, Apple, Toshiba, and Panasonic and major global services businesses: ATT, BT, CSC, NTT, KDD, and Deutsche Telecom, various medium-sized businesses: Park Law, DBO services, Cirrus Supply Chain, Systems Microwave, and start-ups: CodeBook, Xinaps, Invicara, XYZ Reality, and Archdesk.

Andy offers his services in-person, remotely, and in a hybrid format both in the UK and internationally. We look forward to working with you and helping your business scale and grow by developing a clear commercial operational strategy.

Book a 60-minute discovery session.

Use this link to book a call?https://calendly.com/gorilla-revops/discovery-chat