I’ve been known to talk a lot about preparing for the unpredictable. A while back someone asked me a question about it. In essence their question was, “Dustin, how can I possibly prepare for the unpredictable if I don’t know what’s going to happen?” It’s a fair question. Let me give you an example.
I live in an area where severe weather and circumstances are a part of life. We don’t get tornadoes and hurricanes, but we do get extreme cold during the winter, along with a blizzard or two every year. Sometimes the power will go down and stay down for up to a week. But, of course, none of those things is entirely predictable. It can be very hard to guess, for instance, when the power will go out.
Because of this, I am prepared for extreme circumstances at home. I have enough food to last me and my family for 2 years without power. We have a huge propane tank out back to power our furnace, as well as a wood stove that heats our house quite nicely when propane isn’t available. We have a garden, where we can grow fresh fruits and vegetables to help supplement the 2-year store of food we already have. We are prepared for the potential worst-case scenario: going without electricity for a lengthy period of time.
Just as I have done with my family in my home, when it comes to preparedness in your business, I start by asking one question: What is your worst-case scenario? What if your volume were to go down to zero? What if someone were to sue you for all you’re worth? How would you handle those things? What things could you do today without breaking the bank that may help? Maybe it means hiring someone. Maybe you decide you need to start making more connections with potential clients. The answers will be different for everyone, but the principle is the same. Preparing for the unpredictable begins with preparing for your worst-case scenario.
For more information on this subject, please download and listen to The Appraiser Coach Podcast Episode: