A mistake that got turned around
I made a business decision a few months ago which was to reduce my involvement in certain processes of my business. I removed the weakest 20% of listings from one of my directories. We did not lose traffic as a result, but we lost growth. I didn’t know what the long range effect of my decision would be other than I would have less responsibilities. Luckily for me, I track my decisions and the results thereof. I quickly learn when I have made a bad decision and turn it around. But, sometimes it is not so easy.
Gaining and losing personnel
If you hire a new person, there are positive and negative attributes that they bring on board. Someone with a bad attitude can really interrupt the flow of your company. On the other hand, someone who is occasionally difficult might bring a lot to the table that your business might suffer from if lost. I just read an article on Harvard Business Review where a manager lost one of their key team members. A few months after the fact the manager stated how they didn’t realize how critical that member was to the team. It is very important to be able to assess in business. You need to know how important each of your team members is — because one day you might have to live without them, or you might have to decide whether to fire them or not.
Techniques for elastic expansion
Expansion is another popular topic for business owners. Most companies want to grow, but many don’t know how, or how fast. Trying to grow too fast can cause a lot of confusion, especially if you have to change your business model. But, what about changing the way you do business in a way that facilitates flexibility in the size of your company? What if you have seven people at your company, and you create a new team structure that allows you to be able to add or subtract team members without dramatically altering your personal workload. If you change your business model to incorporate more middle level managers, or reliable outsourced help, then they can handle whatever growth there is for you, and you can work as much or little as you like. On the other hand, those who try to grow too fast without a business structure that can accommodate it can fall on their face and suffer huge losses in the long run!
The long range effects of business decisions are fascinating to think about and read about. Make it a habit to think about the karmic effects of your actions. Think before you jump!
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