In business, it's all about the opportunity.
I recently became interested in a company on the stock exchange called Peloton Bike. The company had been around for several years already, and with the pandemic, people wanted to stationary bicycles at home and the company's sales skyrocketed!
Unfortunately, they weren't able to deliver the goods. They received many complaints, and their action fell. What a pity!
The opportunity presented itself, but they hadn't planned that it was to be so fat. In business, you don't have to have a plan B as I often say, but you have to have a back-up plan. Peloton must be biting their nails right now for missing such an opportunity. This kind of opportunity does not come back.
My partner and I started our call center after a supplier said no to Fido to provide the service they needed. We jumped at the chance. Eventually, we bought from this supplier who refused to have Fido as a customer.
An opportunity presented itself and we seized it. When an opportunity presents itself, you have no choice but to seize it otherwise you open the door to a competitor. The competitor who said no to Fido in 2003 created us without knowing it.
At Aheeva technologies, one of my other IT companies, we weren't able to deliver. Fortunately, we got through it all the same and we are still here today. We have lost a lot of customers. We didn’t take the full opportunity. We received orders by email from all over the world. Which company would like to receive orders without having salespeople?
So when an opportunity presents itself, you have to put teams in place, because that opportunity may never come back and a competitor will take it for you.