At Growth Point Agribusiness, when working with client projects, we take the approach of focussing our time and attention on the things we can actually influence, whilst remaining cognisant of the things that we cannot.

Some key elements here are:
 
Questions we can’t confidently answer (the ridiculous list):

  • Will markets go up or down?
  • Is there a cataclysmic market event coming, or will it be another good year?
  • Is Tuesday a good day to negotiate a contract?
  • Is Wednesday a good day to exit my business?
  • Is the journalist/analyst/economist saying the end of the world is nigh right, in the market my business is involved in or is the optimistic guy the smarter choice?
  • Who is the best guru to follow? You know, the guy that always gets it right?
  • Surely we can just sell at the top and then buy back in at the bottom in a couple of years?

Things we do know (the sensible list):

  • Focus and clarity works.
  • Strategic planning takes time.
  • The odds of ‘timing’ every step of your strategy successfully are extremely low.
  • Investors need every reason to say yes and just one reason to say no!
  • All sectors and markets are in a perpetual cycle of boom and bust.
  • Engaging one of the top four professional service providers is not a sure fire recipe for success.
  • It's your business, and you need to make the decision ... not abdicate your responsibility to a third party.

Whilst the futility of the first list and the sense of the second may appear obvious, the truth is very few people are mindful of each of these factors when developing growth and exit strategies. Sadly many businesses still spend more of their time focussed on the “ridiculous list” than on the “sensible list”.