At 3:20 am PDT yesterday, Napa, California, suffered a 6.0 magnitude earthquake, the largest quake in Northern California since the 1989 6.9 magnitude Loma Prieta earthquake on October 17th at 5:04 pm.
The threat of earthquakes is omnipresent in California. There is no earthquake forecasting system yet though there is one under development. Additionally, we never know if an earthquake is a precursor–a foreshock–to a larger earthquake or the main event itself for months afterward.
Business owners should contemplate what unforecasted events can impact their business.
- What contingency plans need to be put in place for events–weather-related, earthquakes, power outages, bridge collapses, supply chain issues, etc., that might impact business for an extended period of time.
- Attention should also be given to disruptions that can occur because of competitors, both known and unknown. It is possible your world can be jolted overnight.
I’d bet Boeing–who at one point enjoyed nearly 100% market share for commercial aircraft–didn’t believe that Airbus would amount to much when they first started selling aircraft. And, now there are even more competitors like Embraer and Bombardier in the market.
Big jolts can be an important wake-up call. Make sure you don’t miss the sign and your opportunity to accelerate your growth.
Photo Courtesy of Martin Luff on Flickr
Thought for the week:
Dave Gardner, Gardner & Associates Consulting http://www.gardnerandassoc.com
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