Do you have a Plan A and a Plan B in place?

Why do people have backup plans?

Can it be dangerous to have a backup plan?

If you think it is normal for business people to have a backup plan, then this the episode is for you.

It is pretty common advice given to entrepreneurs: Have a Plan B just in case Plan A doesn’t work.

But this is harmful to business.

We must have strategies – strategy 1, strategy 2, strategy 3, etc… to get our Plan A to succeed. Consider a baby who is struggling to walk at the age of one. Do we buy the baby a stretcher or a wheelchair?

No, what we do instead is change strategies. We do so because we believe in the child’s abilities.

Similarly, believe completely in your Plan A. Legendary business magnates always stick to their Plan A. They do not give up on their faith in their primary plan. They remain dedicated and try different strategies to get their Plan A to succeed.

Watch this episode to find out why backup plans are dangerous for a business.