When people are talking about a “condition”, they normally think of body fitness, health or the state of your car. But, did you know that there is an actual technology behind that word?
“Condition” is defined as the state of existence of something, whether good or bad. We determine the condition of something based on a scale of quality. For example, poor – fair – good – excellent – mint. Naturally we strive for the upper part of that scale. But in business there is a completely different scale to measure the condition of your company. This scale is based on your company performance and viability. Is it in “danger”? Does it even “exist” to your public? Is it affluent or just going along normally without leaps and bounds? These are all states of existence your business can be in.
For example, you have just started your business. Your business would be in a state of “non-existence”. Your public don’t know that you exist. Or you have just closed a huge deal and your sales shoot up to the highest ever sales range. That would be an affluent condition. You would have an abundance of income coming in to comfortably plan your future expansion. Another example would be if you have been doing poorly for quite some time and you cannot keep your employees anymore. You are forced to downsize and that would be a condition of “danger”. You may have been in a situation where you thought about closing the doors and giving up. You haven’t made any sales; the bills are stacking up and half of your employees have already quit. According to the SBA (Small Business Administration) 30% of new businesses fail during the first two years, 50% during the first five years and 66% during the first 10.* That’s a scary statistic! It shows that entrepreneurs are risk takers. They must be, or no one would ever start a business.Read More