A Message from the CEO | Importance of Having a Plan B

If the events of 2020 taught us anything, the ability to remain flexible might be at the top of that list. We all learned that in a crisis, things do not always go as planned. And while we must invest in a healthy commitment to our original business strategy, creating a viable plan B can be imperative to the realization of our goals.  

From my experience, there are two general schools of thought on having a plan B.

1. There’s no reason to have a plan B because it distracts from plan A.
2. If you don’t have a plan B, you don’t have a plan.

Let’s think about number 1 for a minute – Being 100% committed to an outcome is what drives us to the finish line. And while there is no plan B for passion, there’s more to it than that. It’s never a good feeling when the desired optimum path doesn’t work out exactly as conceptualized. Despite our best laid plans, it’s fundamental to prepare for the proverbial roadblock. Business is always challenging and dealing with adversity is inevitable – more importantly, sometimes things just change.

Having a plan B doesn’t always imply that there’s a need for an alternate or vastly different approach. It may only be an addition or expansion of the original idea; a concept that could eventually drive plan A. Planning for multiple alternative outcomes helps save us from the dreaded emotional “head spin” that will ensue if the original plan stalls.

As Mike Tyson so eloquently stated, “everybody has a plan until they get punched in the mouth”. Unfortunately, millions of people got punched in the mouth in 2020. Many had a plan B, and sadly, many did not. The phrase “unprecedented times” is a term that we have heard countless times over the last year – Let’s be real, It’s difficult to plan for a crisis of that magnitude, no matter how many backup plans you have. Nevertheless, a plan B is infinitely better than the alternative. And while our industry was spared the worst of it, the undeniable truth is that we’re living in a different world today.

Having a plan B, C or D allows us to be resilient in our approach and confident in our aspirations. It is certain that nobody is immune to mistakes or miscalculations, and while we all strive for perfection, there is no shame in admitting that it’s time for a slight course correction.