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Aren’t there enough P’s in Business?

The most important 3 P’s you’ll need in business….

Normally we refer to P’s in business in connection with just marketing, the 5 P’s or 7 P’s. But I’d like to suggest that if you’re in business or about to dip your toe into the business ownership world, then you’ll need all of  these 3 P’s of business.

Over the coming weeks I’ll let you in on what I consider these important 3 P’s in business are.

So what’s the first one?

First of the three P’s is……… Preparation – the first and most vital of the extra 3 P’s in business.
It’s been said by many people over the ages that preparation is the key to success.

In fact I would venture to say that many great writings over the years, in relation to winning, business, personal development and so on, all discuss the importance of preparation. From Sun Tzu’s The Art of War to Napoleon hills Think and Grow Rich, they’re all centered around preparation, know your enemy, do your preparation, know you’re self, preparation for become successful. And so on.

Preparation is vital to start any journey, particularly one into business. You need to be prepared in different ways.

● Have a plan, a road map of where you want to go, how big or small do you want your business to be, what do you want it to evolve into? Also allowing a little flexibility in this, as opportunities may arise, on along the way and lead you along a different path.

● Financially. Be prepared, have the right funding in place for your venture and a bit more for those unforeseen events.

● Mentally. Being prepared mentally to execute your business plan and to stick with it, even in the dark days. Mental toughness.

….and this is just the tip of the iceberg.

Preparation isn’t limited to just starting out in business, it’s an ongoing process, and so it should be.

One way to do this is through possessing an open mind, in terms of being open to learning. Listening, reading and being teachable are all essential and part of being prepared in business.

I’ll blog the next P in business soon….

  1. alison
    December 19, 2010 at 8:12 pm

    Thanks for the blog! I agree, unless you’re mentally prepared, you won’t achieve anything. It starts with how you think, which dictate your beliefs, which dictate your actions and thus your results. So to succeed in your Plan you need to have already succeeded in your mind! And Hey you need finances for most things – so the 3 things do go together – PLAN, FINANCES and MENTAL ATTITUDE. Alison

  2. December 19, 2010 at 10:39 pm

    Great reminders Tim. Planning is paramount to success in business. How do you get to where you want to go if you’re not really sure where you’re going?
    A well thought out plan and the right mindset will see you go a long way.
    Looking forward to the next P.

    • December 20, 2010 at 8:15 am

      So true, otherwise you’re walking in the dark hoping you don’t bump into something! Tim

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