Hope is NOT a Business Strategy

July 23, 2018 | Garret Norris

“Hope is not a strategy. Luck is not a factor. Fear is not an option.”James Cameron

 

The Merriam-Webster dictionary defines hope as “to want something to happen or be true,” “to cherish a desire with anticipation,” and “to desire with expectation of obtainment or fulfilment.” Hope is the feeling we get when things aren’t going the way we want them to, but we still hold confidence that things will still be okay. Hope is what keeps many people going despite all the odds stacked against them. Moreover, as the character President Coriolanus Snow points out, hope “Is the only thing stronger than fear.”

As a business owner, you naturally would incline yourself to hold on to the hope that you’ll still come out of difficulties as a better, stronger, and wiser person, and so will the rest of your company. You’ll, of course, face setbacks that will give you doubts and dampen your previously-enthusiastic spirit. It tells you to keep going no matter what happens because things will somehow turn okay as long as you’re working hard to reach your goals and never give up.

However, as James Cameron said, hope is not a strategy.

Your business cannot rely on hope, nor should you assume that it can. Many companies have relied on the feeling of hope when things aren’t doing so well for the company. However, hope sometimes is the one thing that’s keeping them back from truly navigating through the treacherous waters and into the calm seas. It tells them that doing what they’re doing currently will still work because it has never failed them before. That what they’re experiencing is just a temporary setback and things will go back to how they were.

Sometimes, hope is also the one catalyst for haphazard decisions — the mindset that “Let’s just do everything we can and hope for the best,” is perhaps the clearest example of this. Business owners take exorbitant gambles on strategies and solutions that they haven’t tried before in the name of circumventing the downward spiral they’re experiencing in their business. Also, this is just as risky as doing the same thing in the hopes that the adverse circumstances will pass.

Hope is not a business strategy that will help you through your problems.

A business strategy is a well-designed plan of action that aligns your organisation towards a specific set of objectives or goals, i.e., to deliver a value proposition to your target customers better than your competitors do. It requires careful planning that has its roots in thorough investigative research of every possible relevant data connected to your end goal. It continually adjusts through the process as the tides in your niche also shift. It is making precise, educated predictions based on past circumstances and present situations.

While hope gives you the confidence that there is a pot of gold at the end of the rainbow, a business strategy tells you outright if there is, or there isn’t something at that other end, what you should do to find out, and what steps are necessary if there is such a reward waiting for you. Hope is expecting that something good will happen, but a business strategy is doing something to make that good thing happen. Hope tells you that everything will be all right regardless, while a business strategy will help you work hard for things to be better than it is now.

Hope isn’t a bad thing to have — after all; it’s what pushes you out of your fears as it gives you the confidence that there’s something better waiting for you. However, relying on it is also poisonous for your company’s chances to succeed because too much hope makes you believe that good things will happen through belief. In the entrepreneurship landscape, you cannot function on hope alone. You must have a solid foundation built on concrete analysis and evidence if you’re hoping to propel your business to greater heights.

 

For more tips on how you can drive your business to success, you might want to check out our Business Coaching services here at Business Coaches Sydney. Contact us at 1300-833-574 to learn more.

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Garret Norris

Garret is the founder and CEO of Business Coaches Sydney and through his company, remains dedicated as ever to use his training and real life business experience to meet his passion to see business succeed through disciplined management, creative marketing and committed client service.

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