Every Business Should Have A Backup Plan

Everyone should have a backup plan. As an entrepreneur, I have two businesses and I’m working on a third. Why? Because I have never been one to put all my eggs in one basket.

Last week, we talked about how tragedy will come at some point, so this tells us that we need to have a plan in place for when it happens. I’m not being pessimistic, but I am being realistic. If we know something is going to happen, shouldn’t we prepare for it?

This being said, here are the three things that every backup plan should consider:

What are you truly passionate about?

If you aren’t working in your passion(s) right now, then it’s time to find a way to work in them. Now, I’m not encouraging you do anything drastic quite yet, like quitting your job in order to find passion. But, it is important to pursue passion for whatever circumstances you are currently in, whether we are talking about your work, or your life in general.

Can you become passionate about what you already do? You may need to put some effort into finding it, but I know you can do it. If you currently don’t have passion for your plan A, then make your backup plan to include it. And then contemplate ditching your plan A, because it sounds awful. I know far too many people who followed their plan, only to find that their plan wasn’t what they expected it to be. Life is too short not to love what you do. Passion needs to be included in any plan you make.

Does it fit into tomorrow’s economy?

Notice that I didn’t say “today’s economy”, because things are changing so rapidly right now. Maybe you thought you were pursuing something that would be a valid business idea in 2015, but come to find out, there are no jobs available in that field, or you missed your opportunity. Whatever the case may be, it’s never to late to make a change. My prediction is that in the next ten years, everything will be done online, so that’s what I am personally trying to move towards for all my business needs.

What can I take that I have already worked on in my first plan and apply it to my plan b?

Many people think their plan a and plan b need to be drastically different, but it doesn’t have to be that way. In order to save both time and energy, you should use your previous experiences to influence your present plan. You can use your life experiences to your advantage, and construct an even better plan with what you have learned along the way.