Saturday, December 27, 2008

Business Lessons – A few thoughts on Predictability

What does it mean to be predictable and why is this an important trait in any relationship but especially business. It is because predictability is the essence of trust. We trust people and things that we feel comfortable with and those things we feel comfortable with are those things that and people that perform consistently to or above the expectations we have set in our mind. 

Let me explain it this way when we are driving and we pull the urn signal up we know the right light will come on down the left. When we turn the steering wheel clockwise we turn right counter clock wise we turn left. These actions are predictable because we do the same thing and we know we will get consistent results. This is what we look for in businesses, business people and supplies. We trust things that we know the outcome and we can predict what will happen based on the circumstance. 

To quote predictability (also called banality) refers to the degree to the fact that a correct prodiction or forcast of a system's state can be made either qualitatively or quantitatively. 

So my question to you as a business owner understanding this is a foundational issue key to your long term success and sustainability – are you predictable? 

Consider these to get the idea:

  • What if the Sun did not rise every day in the  same place or at all?
  • What if the power did not come on even though you paid your bill?
  • What if the sanitation people did not pick up your trash weekly?
  • What if a track athlete decided instead of finishing the race to stop 2/3rds of the way?

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