If you ask most defunct small business owners why they failed, they will point towards one or two key areas of their business. Some will say that they didn’t have the right marketing mindset, others might say they didn’t have the right product. And all of these reasons may be true. But one thing that many won’t even recognize is because their business wasn’t flexible.
Flexibility is important in a small business plan but is often times overlooked. Many times we focus so much on our core products or services that we build a mindset and infrastructure that limits our ability to be flexible when needed.
So why is it so important to be flexible? It’s important because you can’t control markets. It’s important because you can’t force people to buy. It’s important because no one can produce the perfect product or service. It’s important because your competitors might be better than you.