Results 1 to 4 of 4

Thread: Successful Business Lesson by John Detitta

  1. #1
    New Member
    Join Date
    Apr 2009
    Posts
    3
    Thanks
    0
    Thanked 1 Time in 1 Post

    Successful Business Lesson by John Detitta

    Hey Everyone,

    Successful Business Lesson : Have a Quit Plan

    Never give up! However, there is a point where you have to agree that you will quit when things are not working as planned. It's better to set the quit plan upfront when the business begins then try to adjust when you are into it.

    This is imperative if you have a wife, husband or family. THEY ARE MORE IMPORTANT THAN YOUR BUSINESS!!!!

    It's true you might be making incredible improvements to a product or service, and that your business will change the world. However, there is nothing more important than your family or friends.

    You must set a quit plan from day one with all of them. A quit plan simply means when you have reached a specific point of investment or time when things are not working as planned, that all agree to walk away, liquidate, close doors or sell the business, period.

    What do you say guys.. Do you think like this as john detitta has written?

  2. #2
    Gold Member garthu's Avatar
    Join Date
    Dec 2008
    Location
    Midrand
    Posts
    595
    Thanks
    39
    Thanked 65 Times in 55 Posts
    I agree with the statement... however it is a little open ended. If you have a quit plan, you must have had at least a very aggressive business plan covering everything, financial plan, margins for error etc. If you followed them all to the T, then maybe the quit plan... but show me anyone who really follows there bus plan to the T?? Then the quit plan just becomes the easy way out
    Garth

    Electric fence Installation : www.midrand-electronics.co.za
    Free Classified Adds : www.bgone.co.za

  3. #3
    Site Caretaker Dave A's Avatar
    Join Date
    May 2006
    Location
    Durban, South Africa
    Posts
    20,979
    Thanks
    3,055
    Thanked 2,462 Times in 2,067 Posts
    Blog Entries
    12
    I admit I've got a psychological problem with the idea of a quit plan. I know from personal experience that great success can lie just on the other side of seeming imminent failure if you've got that "Failure is not an option" attitude. But maybe that's the same disease as the gambler who can't leave the table until he's been cleaned out.

    That said, one of the things I have picked up along the way which is kinda similar is you need to have an exit strategy; because your exit strategy will affect how you build your business.

    Maybe they're pretty much the same thing except one is associated with failure and the other is associated with success
    The trouble with opportunity is it normally comes dressed up as work.

  4. Thanks given for this post:

    Chatmaster (15-Apr-09)

  5. #4
    Suspended
    Join Date
    Feb 2009
    Location
    South Arica
    Posts
    379
    Thanks
    38
    Thanked 26 Times in 23 Posts

    Success in moderation.

    What is success in the eyes of a true business?

Similar Threads

  1. No more business plans please!
    By Vincent in forum Entrepreneurship and Business Management Forum
    Replies: 26
    Last Post: 12-Nov-10, 09:57 AM
  2. [Article] Working from Home - The Online Business Reality
    By David Venter in forum General Business Forum
    Replies: 5
    Last Post: 06-Jul-10, 09:11 AM
  3. Fundamental business principles - Get and keep customers
    By Dave A in forum Entrepreneurship and Business Management Forum
    Replies: 11
    Last Post: 12-Oct-09, 08:20 PM
  4. Important Business Lesson By John Detitta
    By flimsy in forum Entrepreneurship and Business Management Forum
    Replies: 1
    Last Post: 02-Apr-09, 09:55 PM
  5. [Article] Communication: The Key To Business Turnaround
    By Vincent in forum Entrepreneurship and Business Management Forum
    Replies: 0
    Last Post: 26-Apr-08, 04:20 PM

Tags for this Thread

Did you like this article? Share it with your favourite social network.

Did you like this article? Share it with your favourite social network.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •