“What if…?” is one of the most commonly asked questions by busy and foresightful entrepreneurs when conducting short- and long-term planning. The challenge however isn’t coming up with plausible answers to this question but making sure that:
1) The “what if?” question is asked at the right times
2) Answering the “what if?”question involves the right people
3) The possible answers to the “what if?” question are accurately evaluated
4) Resources are prioritized to address the most likely responses to the “what if?” question
Fortunately, there is a proven method to help entrepreneurs increase their ability to address these practical day-to-day planning issues: Scenario planning. Here is an overview of the approach — along with some related resource links to help you determine if/when to incorporate scenarios in your business.
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