F is for Flexibility

Plan, plan plan. We need plans, business plans, marketing plans, strategy documents, timelines, dead lines, guidelines etc. etc. They all have an important role to play in any business or campaign, without them you’re probably not going to go far. We have to know what we are, where we are going and critically, how we are going to get there.

There’s no doubt that plans are essential tools but they should never be rigid, things change so you have to be flexible.

Plans often are based on assumptions and by definition  may go out of date rapidly. Moreover, you can’t control your competitors who may change pricing structures or release a product upgrade etc. you have to be nimble and don’t be frightened of amending your plans.

You may find an approach you have adopted just doesn’t work, every business will encounter challenges sooner or later but what will help to make your proposition work best is by adjusting your behaviour, approach or strategy.

Perhaps by instinct or experience, most of us can tell if somethings not working, a drop in sales, a new fully funded competitor enters the market and puts your business at risk, it could be staff moral or you’re working 24 hours a day and not making any money; all very standard challenges that most businesses face.

If it’s not working then change it, find a mentor who can support you and your business, talk with people who have more experience than yourself, try to understand what is wrong and be creative in your attempt to fix it. No one gets everything right all the time, don’t forget that, there’s no shame in admitting that something has gone wrong or simply doesn’t work; on the contrary, identifying an issue and solving it makes for better business, a more robust business.

Everything comes and goes, things change, being flexible and adjusting to the present conditions is part of growing a sustainable and profitable business and in this context a successful crowdfunding campaign. When you start your crowdfund, you should have all the plans in place, you know what it is you are doing and how you are going to do it.

However, don’t be rigid, the campaign timeline will come and go, you may have to adapt or modify an aspect of the campaign, look for the things that are clearly working well and maybe do more of that, consider the aspects of the campaign that are not working so well and consider if it’s worth abandoning those things completely. Either way, flexibility is a prerequisite, remember, it’s not about you but your customers so don’t be precious about anything. With flexibility things improve, your campaign will be better. Unfortunately there’s no magic formula unless you happen to own an Oil Field but even those will dry out one day.

Next up: G is for Gratitude

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