No, I’m not talking about Florida, New York, Pennsylvania, New Jersey or Delaware. Rather, I’m talking about your mental state. What is your view on life particularly with respect to your business activities? Are you one of those people who is blissfully unaware of potential pitfalls and problems until they are at your doorstep? Or are you one of those people who resides in a constant state of fear and thinks about every possible thing that might go wrong even if many of those possibilities are remote and inconsequential.
Running a company while being blissfully unaware tends to create a state of chaos. Potential problems which could be easily avoided constantly crop up. And while many are small, some inevitably turn into larger problems. Your staff is likely exhausted by the number of small problems and eventually become complacent. They have likely shouted warnings in the past but after being consistently ignored they have given up. Their attitude tends to be “That’s the way it is around here.”
At the other end of the spectrum is the person who is so worried about every possible problem that they can’t make a decision. This attitude can be debilitating. Even the simplest of decisions with little consequence if the wrong choice is made are fretted over as if it was a matter of life or death. They turn mole hills into mountains. Similarly, the staff is exhausted and has the same “That’s the way it is around here” attitude. Things rarely change. Things could be much better but they simply aren’t.
Given the choice, I’d rather work with someone living in the blissfully unaware state than the state of fear. I feel like I can work with others on the team to avoid land mines and clean up minor issues after the fact. Personally, I don’t have the patience for those that just can’t make a decision.
Obviously, being somewhere in the middle is the better option. Business owners need to think about potential problems, how to avoid them, take prudent risks, and how to mitigate the downside when something does go wrong as it inevitably will. This is the only way to move forward. So long as you make more good decisions than poor ones and avoid outcomes that could truly be catastrophic then things are likely going to turn out fine.
Someone once said to me, “Make bad decisions quicky and move on.” It took me a moment to understand that they weren’t talking about choosing the wrong path. Rather, the statement references times when there is no good choice and one is faced with choices that are all bad. This is one I have taken to heart over the years.
So, back to my original question. What state do you live in?
If your business could benefit from fractional CFO services, I would welcome the chance to speak with you. Please give me a call at (314) 863-6637 or send an email to [email protected]
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your cash is flowing. know where.®
Ken Homza
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