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Business Unplugged™
This blog features Carol Roth's tough love on business and entrepreneurship, as well as insights from Carol's community of contributors.

Sometimes Common Knowledge Isn’t Helpful

Written By: Catherine Morgan | Comments Off on Sometimes Common Knowledge Isn’t Helpful

Sometimes the sayings we tend to take as fact or best practices for life actually aren’t that helpful. In Carol’s recent post on the Nextiva blog, “5 Ways that Conventional Wisdom Can Bring Your Small Business to a Standstill,” she targets some ideas that you might have taken for granted as truth. Carol begins:

“In 2014, Russia banned four dirty words from use in the performance arts, but U.S. small businesses should strongly consider banning these six words: “We’ve always done it that way.” Granted, conventional wisdom says that long-lived processes make business life predictable and comfortable. But, your small business is less likely to grow if you don’t move beyond old, tired ways.

This is just one example of conventional wisdom that may not be so wise for your small business. Here are 5 more.

#1. If it ain’t broke, don’t fix it

Besides the questionable linguistic style of this phrase, broken situations are not always obvious. Consider how a crowded waiting room might represent a strong client base. On the other hand, it represents clients who eventually realize that their time might be used more wisely somewhere else. Should you wait until you see an empty waiting room to fix a potentially-serious issue?

Keep a critical eye out for potentially-broken operations. With no visible bottlenecks, an assembly line might not seem broken. But, a close look might reveal that changing the order of the process would increase output. Whether you identify these areas on your own or listen to employee suggestions, your business’ survival and growth depend on more than just fixing obvious issues.

#2. Focus on what you know

This so-called wisdom makes no sense even on the surface. Before starting your aerospace business, you probably had an advanced degree in rocket science, but did you also have expertise in business management? Even with vast knowledge of your industry, your business cannot survive if you don’t learn the myriad skills needed to run a company.”

You can read the rest of the post here.

Article written by
Catherine Morgan is the founder of Point A to Point B Transitions Inc., a virtual provider of coaching services to individuals who are in business or career transition. She specializes in helping entrepreneurs transition to corporate jobs they love. Catherine is the author of the eBook Re-Launch You: Discovering Your Point B and Embracing Possibility. An experienced independent consultant who was employed by three of the former Big Five consulting firms, Catherine speaks frequently on topics related to career transition, small business, productivity, and mental health. She doesn’t take herself seriously, but takes her subject matter very seriously.