How can we make assumptions? Are they always wrong? What is the difference between a false and true assumption? This article will answer some of these questions.
Assumptions are often made when thinking about how to improve business, but the only assumptions that matter are those you can substantiate.
The “assumption presumption supposition” is a term used when someone assumes something without any evidence.
It’s a new year, and it’s time to…
Yes, you’ve heard it a lot recently. Despite this, it is no less important or suitable because it has been used before. It was sound counsel before it became a cliché.
The snow and ice the other morning persuaded me to work from home for a few hours before heading to the office. As a result, I thought I’d be able to get onto my workplace computer through our virtual network. Dang! That didn’t work either. My log-in wasn’t detected since I didn’t realize my new workplace PC had a different IP address. I just thought it was identical to my previous computer.
Then I decided to use WordPress on the Internet to update our business blogs. I figured I’d just get out my old laptop, set up the wifi connection, and settle down with a large cup of caffeinated black cup filler to start reading. Rats! That also didn’t work. My old laptop’s plug-in wifi card has given up the ghost. I simply thought it would connect as it did the previous month.
So I dug through my belongings for another CAT 5 wire and stretched it across the room, plugging it in next to my chair by the fireplace. Arrrrgh! I thought the cable was in excellent working order. Nope. Now I remember! Last year, the window installer informed me he’d dropped a chisel on the cable and severed it halfway through. It’s no issue. I’ll simply crimp on a new end.
It’s a blast! I thought I had crimp-on plugs on hand. There were plenty of 4-wire and 6-wire plugs, but no 8-wire plugs. Grrrrrrrrrr.
I’m sure you understand where I’m heading with this story about thinking I could work from home. Yes? No? It’s the rash assumptions we make about our companies.
We make a lot of key assumptions when we start a company. We anticipate that our location will attract consumers. We make a number of assumptions about our target consumers’ demographics, lifestyle characteristics, and trends. We expect our target consumers to purchase our goods and services. We anticipate that our suppliers will be able to keep us supplied at a set price. Our bank is expected to continue to approve our line of credit. We expect our trendy, creative, cutting-edge product to remain at the top of everyone’s must-have list. And so on.
Now that we’ve been in business for a while, the new year has arrived. I urge, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, beg, be Are they still relevant? They shouldn’t be assumptions any more, in a way. They should be facts that can be verified.
Check with your bank to see whether the credit line is still accessible. Consult your suppliers. Is it still possible for them to deliver at the same price? Who are your true clients? (NOT who you think they are, but who shows up at your door and offers you money.) Inquire about their opinions and ideas, and compare them to what you expected. What has changed in your neighborhood that may have an impact on your business? When the new movie theater complex down the street opened, did your floor traffic grow or decrease? Has a new technological advancement rendered your product obsolete?
Location, Location, Location, Location, Location, Location, Location, Location, Location, Location Tim Berry wrote about a restaurant that had been a success for 30 years before being replaced by a succession of unsuccessful restaurants in the same location. It seems that a fundamental premise has shifted.
You and your company cannot afford to assume that assumptions that have previously been accepted as true will continue to be true in the future.
- Confirm what is still true.
- Identify any previous assumptions that are incorrect.
- If you can, figure out why these assumptions were wrong.
- Make new assumptions as needed.
- Include these adjustments in your monthly and yearly business plans.
Palo Alto Software Senior Editor Steve Lange
My gratitude to Sara Prentice Manela, my co-editor, for proposing this article after patiently listening to me rant about bad assumptions.
The “presume in a sentence” is an assumption.
Frequently Asked Questions
What is the difference between an assumption and a presumption?
Does presumptuous mean assuming?
A: Yes, presumptuous means assuming.
What does assume assumption mean?
A: Assume assumption means to take something for granted without having all the facts.
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