What could go wrong — and kill your business?

Identifying the top strategy killers can help you future-proof your business against failure.

THINK ON IT: What could go wrong — and kill your business?

The co-founder and Executive Chairman of Netflix, Reed Hastings, puts his team through a brilliant thought exercise. He asks them to imagine a time 10 years in the future when Netflix, like Blockbuster before it, no longer exists. What are the most probable reasons for its demise? 

It’s a daunting task to carefully ask, “What could go wrong?”

Most of us are inclined to avoid that question. Either we don’t want to imagine it for our business or we consider that other matters on our plate are more pressing.

Yet, strategically minded leaders lean into that question precisely because they want to safeguard their strategy and their business from failure.

No one wants to invest in developing a business strategy, only to have it killed off by something that could have been predicted. Identifying the top strategy killers can help you future-proof your business against failure. 

So, ask your team this week (or outline for yourself), “What could go wrong?”

Paid subscribers read on for a few tips on how to make your business more resilient to failure. Become a paid subscriber.

“The real challenge in crafting strategy lies in detecting subtle discontinuities that may undermine a business in the future. And for that there is no technique, no program, just a sharp mind in touch with the situation.” — Henry Mintzberg

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