We all know the rule of holes…if you’re in one, stop digging!
A hole in business is an unpleasant place where:
1) There is no return on the investment of time or money.
2) A business relationship continues to be disappointing.
3) The potential for an idea continues to be unrealized.
4) A non-performing business silo lives on.
What amazes me is how many entrepreneurs keep digging because they love their shovel.
“It’s the best shovel I’ve ever owned.”
“Did you see my shovel…its golden?”
“Nobody has a shovel like mine.”
“Do you have any idea how much I invested in this shovel?”
“My father gave me this shovel.”
“Look, I downsized my shovel so this should work better.”
“Hey, I got a bigger shovel…so this should work better.”
“The other guy’s shovel is nowhere as nice as mine.”
And here’s my favorite:
“I got my shovel at Harvard (Wharton, Sloan, Stanford, etc.).”
Enough with the shovel, please borrow my ladder!
LEVERAGEDWISDOM’s Members participate in monthly peer group meetings and one to one coaching. Their learning process is augmented by world class speakers and reference resources. Members gain powerful insight into the distinctions between owning, leading or managing a business and how these important differences impact their decision making process, strategic plans and operating disciplines, all of which ultimately define the equity value of their business and the opportunity for a liquidity event.
Richard Lavin, Founder/Chair
917 405 6987 Cell