- Be willing to write off bad debts or unsalvageable ventures. Do not throw good money after bad. It is more painful to bring down a thriving venture by using it to sustain a poorly performing one. Write it off if you cannot turn it around. If possible, do not get involved in bad investments in the first place. Perform due diligence before jumping in with the crowd.
- If a venture is not being managed well and the people involved cannot invest themselves and work for a successful experience, then cut ties. Beware of people who are financially doing well in life but whose businesses are struggling. Your money will go into their pocket, and your efforts will work in isolation while others put in nothing.
- You only have one opportunity to solve your problems when you identify them. If you wait for the next day, you are dealing with a different situation, which is usually much bigger and more complicated. Yesterday’s solutions cannot solve today’s problems.
- Trying to appease employees who are already disengaged is like separating the juice from the water. It is too little too late. Disengagement means people have moved on in all the ways that count except the body. Your late efforts may insult rather than please them. It shows it was within your power to do the right thing, but you chose to do nothing. That you are only trying to appease them because things did not go your way, and you realise you need them. They, too, will do nothing when it is within their power to do something. Do not expect to reap where you have not sown.
In conclusion, avoid sustaining poorly performing ventures with funds from thriving ones. Be wary of bad investments and perform due diligence before investing. Late solutions increase complications. Trying to please already disengaged employees may lead to resentment instead of appeasement. Act promptly when problems arise.
Be self-aware and insightful.
#ToUnderstandIsDivine
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