A three-legged stool relies upon evenness and balance for support. If one leg is slightly short, the stool becomes wobbly. If it becomes even shorter, or weaker, it’s unable to support any weight.  It doesn’t take much to knock a three-legged stool off balance and cause it to tip over. Business is like a three-legged stool.

In business, the three legs of the stool are:

• Talented People with a shared purpose;
• Accurate and timely Information for navigation and decision-making;
• A source of Capital to support operations and growth.

If any one of these three legs are weak or uneven with the others, the business cannot support the height or weight of growth. They must be kept in balance. All three legs must grow together for the business to rise above others in its space.

Business strategy and tactical planning must account for equal growth of these three legs; they cannot be ignored and one cannot be favored above another. It’s also true that the three legs complement one another and together they create a stable platform for growth.

Whether you’re starting a business, joining one that already exists or working in one to make it better, it is essential to realize the interdependence of these three legs of business.  Equal time and effort must be paid to achieving balance and strength.  The integrity of your own three-legged stool depends upon it.