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Four stages of failure

 

According to Jared M Diamond, American scientist & author, there are four stages of failure that past societies went through & eventually disappeared:

1. Failure to anticipate a problem before it arrived.

2. Failure to recognize a problem after it arrived.

3. Failure to act on solving a problem after recognizing it.

4. Total failure because it became too late to act.

The same could be applied to an entrepreneur when it comes to their business. 

If you fail to anticipate, recognise & solve problem(s) or act too late, your path will be a painful one.

Reflecting on your path to date, which stage of failure most often applies to your business?

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