Checklists are a hallmark of organized and successful people. Checklists characterized by mnemonic reminders often are ones that people remember and actually use daily. In aviation, the PAVE checklist serves as one of the fundamental tools that pilots use to analyze and reduce risk.
“P” stands for the pilot. “A” stands for the aircraft. “V” stands for the “enVironment.” “E” stands for external pressures. Before each take-off, pilots must run down the PAVE checklist and honestly assess: Am I fit to fly? Is my aircraft fit to fly? The PAVE checklist literally keeps millions of passengers safe every day in the air. By using this same checklist, successful entrepreneurs can also manage and overcome approaching hazards for their own businesses.
Although entrepreneurs captain vehicles of different kinds, they share many of the same responsibilities as pilots. Companies are constantly changing, the entrepreneurial landscape is vast, and markets are fickle. An entrepreneur’s top priority is to spot potential hazards before they snowball out of control.