Honesty truly is the best policy.
The best kind of businesses run without any misdirected ideas about the reality of their business.
Making mistakes is ok, but it's even better to admit them. That goes for having shortfalls too. If a business is going to operate behind rose-tinted glasses, it's going to be in for a rude awakening when reality hits and it watches from the back of the room while the rest of its competition sit comfortably at the front.
The top 3 areas to take a look at?
1. Technology or other aspects of the product that present risks or other threats to the safety of the consumer.
2. Policies that act as a deterrent to new business.
3. Capabilities that aren't ahead (or at the very least in line) of the competition.
To stay ahead we're making it a weekly habit to digest x5, produced by Eric Mercer at Dx3.
Read up below. It's not enough to say what matters; the gold is in why it matters.