Is the backup plan just as important as the original business plan?

[Trey]

I think a back up plan should be robust enough to address the weakness of the original plan. In the original plan, there might be room for assumptions and gamble which might pay off but a back up plan must be logically driven.

 

[Good-Person]

I think a back up plan should be robust enough to address the weakness of the original plan. In the original plan, there might be room for assumptions and gamble which might pay off but a back up plan must be logically driven.

Both kind of plans are very important. This is why it is very important to have both of them. This is true when it comes to trading as well. This is because you may need to create many different strategies.

 

[Heatman]

Yes of course the back up plan is as important as the original plan, in that if the original plan fails you are sure you have a nice if not better alternative. Having a back up plan will give you the confident you need to succeed in you business endeavor.

Any business owner who doesn't make preparation for a back-up plan is gambling so much because there is always a possibility that your initial plan is not going to work out all the time and your back-up plan is what is going to save your business.