Author: Pat Pattinson
Business rule number 3: Business has no place for emotions
From the wise words of Yoda “Fear leads to anger; anger leads to hate; hate leads to suffering”. All these emotions leads to that deep financial hole you can’t seem to get out of. This does not mean you need to be heartless and walk over people, nor that you have no social responsibility. What is being referred to here is that emotions can often lead a business into liquidation.
Harsh, but a true statement. Far too often business owners avoid having to make hard decision due to feeling sympathy for those dependant on them. This again is not the signs of a bad business owner or person. What makes a bad business owner is when he needs to possibly retrench some staff or he needs to reprimand someone who is not performing to save the company. This reluctance very often leads to further distress and sometimes is the cause of more job losses or even the closure of a company. These job losses are often not limited to the business, but the inability of this owner to pay his debts resulting in his suppliers having to retrench staff or even shut down themselves. This means Mr Nice Guy is responsible for so many more families ending up without food on the table.