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One pay cheque or one crisis away from being homeless

Last week I had a very interesting conversation with the Simon Community. Thousands of us are one pay cheque or one crisis away from being homeless.

Resonate with us

It struck me that would resonate with entrepreneurs in particular. We don’t even get a pay cheque. The chance of failure is always travelling on our shoulders and sometimes (most of the times) the consequences are dire. So avoiding failure is a top priority, you would think.

Scary

Which makes some of the following statistics a bit scary:

– nearly have of companies in Ireland do not have a website, let alone e-commerce capability

– the focus of companies that are online is on cost reduction, not on opportunity development

Can’t be true

Been scratching my head with these statistics. That can’t be true, Google and Accenture are lying. Surely by now every entrepreneur has understood the importance of going digital, using technology and e-commerce as the key to retain existing and create new markets.

Creating new markets.

Now there is one. I have been doing some work on “soft” balance sheets. Not the one with the assets and liabilities, but the one that actually predicts your future. Which would measure culture, investment in staff training, brand, reputation, IP, client base and ideas pipeline. How many new ideas have you in your business portfolio? It is a key metric of success.

Failure

To bring it back to failure. The main reason why business fail is because of their inability to shift gears and constantly redefining their offering to an ever changing market.

Make sure it is not you.

PS If you want to help the Simon Community with their campaign to tackle homelessness, sign their petition here

 

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