Someone recently used this term, Pre-Mortem, on a Linked In discussion I was following. It was meant to describe a way of looking at one’s business in order to identify potential weaknesses which could lead to trouble unless fixed. It is an interesting term and an interesting approach to trying to fool proof one’s business by stepping back from it and viewing it as an outsider might.
Another approach to fool-proofing your business is to set up a panel of a few marketers to act as competitors. Ask them to probe your operation for gaps which they could capitalize upon if they were running a competing brand. We did this a few times in my advertising agency when one of our clients was about to launch a new product. Our task was to find weaknesses in the product as conceived which competitors could take advantage of and, also, to identify opportunities which we had not yet thought of for exploding the growth of our brand.
These are interesting and valuable exercises to undertake particularly for a new company about to launch its products or services into the marketplace. Do you have any similar methods you would like to recommend for bullet proofing your business?