Cut Your Losses

Cut your Losses,

    In life, there are times we must admit our mistakes. In our personal life it may be saying we our sorry and buying flowers. In business, it can mean the difference of lost money or a company’s reputation. Sometimes, it is best for a business owner to cut their losses, admit they were wrong and find another way to keep their business moving forward.

    

     Face it, not all programs and systems work for every company. Ford’s assembly line doesn’t work in a Senior Home, and McDonald’s timing system doesn’t translate into an artist’s creative genius. For small businesses, experimenting to find the correct way of doing business along with hiring a good mix of support staff can be difficult and may require changing course. And the first step is admitting you were wrong.

     Is a business relying solely on computers for tracking information? Is the company a services business with clients or does it have a product to sell? How important are employees to the welfare of the company and does it have a key person it cannot exist without? Getting into the basics of functionality will not only help with the identity of the company but it will show where money should be used to improve the business.

     Remember the old saying, “Work ON your business, not IN it.” Take a good look from the company as a whole, do you have the right people in place? Do you have reliable systems with back up plans in case a computer is lost? Do you have enough money going into research and development? Most importantly, is your company turning a viable profit and are you a reputable company people are giving positive thoughts?

     It is OK to admit your mistakes, cut your losses and find something else that works for your situation. Victory can make us weak because we settle on our laurels and we must learn from our mistakes. Take that leap, admit your mistakes, buy those flowers and always strive to take your business Up One Level.

Afraid of Success and What is Next?

Afraid of Success and what is next?

     Often times we work very hard to produce a desired result and achieve greatness. We plan, organize, act and then look at our progress to make sure we are still aimed at our goal; only to pull up short of the finish line. Are we afraid of what will happen after we hit our goals? Are we able to continue progressing if we do not have a direction or course to take in our lives?

     I’m reminded of the story about the Apollo space shuttle and the mission to reach the Moon. The entire country was wrapped around the possibility of touching the Moon’s surface and returning a man back to Earth. This was on the mind of the country and NASA got to work. Everyone at NASA talked about what was happening and everyone worked harder so the mission would be a victory.

     The janitor mopped harder because he was doing it to help the scientists and engineers do their job. The Engineers tirelessly worked to insure the safety of the astronauts who would share the glory. Everyone from top to bottom stepped up their game and put in more effort. We reached the Moon, and after everyone celebrated they wondered, what next? They had done something spectacular and did not have further direction for the future.

     Sometimes businesses set their goals too low. They plateau and stop growing because they don’t know what to do next. If you find yourself in this rut without direction, do some daydreaming. Brainstorm what it would be like if… what you would do if you had… how you would act if you could only do… And then start to plan, organize and act towards achieving your new accomplishment. Set the bar high and you may just surprise yourself. With this, always continue to take your business Up 1 Level.