Tough Business Decisions: Learning Where to Draw the Line
Owning your own business is not an easy thing to do, it requires you to make difficult decisions each and every day. From how much to pay an employee your marketing budget, each and every thing you commit to has the opportunity to help you grow or the potential to put you out of business. This is a lot of pressure to carry and some people are just not wired to handle it. For those that enjoy the challenge, absolutely committing to these tough decisions once they are made is mandatory. There is nothing worse then going into something half cocked, you lack the confidence and resolve that you need to see it all the way through. You are never going to reach perfection, as it is impossible to make the right decision 100% of the time. But that is OK, our biggest mistakes are our biggest opportunities to learn. When you have made every mistake that there is to make, been through the best and the worst of times, taken your licks and learned a lesson from them, there is absolutely nothing that can stop you moving forward. It is the people that don't have the experience that end up getting caught off guard and do not know how to react under pressure. It is the people that continually fail, without learning anything from the experience, that just continue to drift through life living off of other peoples good will and fortunes. It is the business owner that is afraid of a fight that ends up getting taken advantage of.
When it comes to the customer, they can do no wrong, even when they have done wrong. Beyond that, business is business and that means the gloves off. From suppliers to advertising companies, the smiling faces all disappear as soon as that money stops flowing so freely. Past relationships and even friendships are great, but they have no business here. Set yourself strict standards and guidelines which you must then abide by regardless of the circumstances. Is it going to be uncomfortable sometimes? Yes. Is it going to cause some potential issues for others and their businesses? Absolutely. Put all the personal relations that go into a successful business relationship in second place. If the numbers are in line, the service is delivered as expected, and you are getting a great ROI then there is no reason not to enjoy yourself socially. But, when someone expects you to make a decision solely based on social factors alone they are showing their true colors. The best con men and criminals are excellent at this game, so it is best for you to stick to the hard data and avoid and exposure.