Tuesday, March 22, 2011

"Never love the business - love doing business"

Great post by Maurice Ewing on HBR.org, "How to Manage the Loss of Your First Million." Here are a couple of key paragraphs from the post:

Never love the business — love doing business. If you become attached to the business or to the money it initially brings then you will not be thinking clearly when it comes time to move on. Rather than irrevocably commit yourself to something (or to some lifestyle) that may one day turn sour beyond your control, commit yourself instead to a lifetime of doing business to the highest standard you can muster. That will create a perspective that will often help you see today's failures as necessary stepping stones to tomorrow's successes.

and

Losses do not make you a loser but how you handle them might. I have to be careful here. I am not saying that you are not responsible for what happens: you are. But how you respond to your business's troubles is what shapes your leadership. You must comfort your employees; you must satisfy your customers; you must assuage the blow to your investors. All of this you must do with style and professionalism that leaves everyone satisfied and in admiration of how you handled the situation — even if you shed a few tears by yourself in the back room.

There's a lot more that's relevant to Mistake Bank fans. Check it out.

No comments:

Post a Comment