My number one rule in life is – always have a plan B.

Usually people think about plan B’s in terms of contingency – what happens if plan A fails. And that is valid.

But the more important reason for having a Plan B is that you cannot know whether Plan A is the right path unless you have a plan B to benchmark it with.

Plan B

One reason why the American system has triumphed – both capitalism and democracy – is that you cannot be sure you have made the right decision unless you have made a choice.

Entrepreneurs need to avoid the temptation to spend too much time justifying what they are doing rather than objectively benchmarking vs. the competition. They are often surprised to learn what their real strengths and weaknesses are.

Within the rest of the organization similar levels of objectivity, transparency and practicality are also required. The best way to achieve this is usually through proactive and constructive training program led by a third party.