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The Quintessential Survival Guide in the Corporate Quagmire! | |
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The Devil We Know
"I'm in an abusive relationship," sighed Andrew. "My bookkeeper annoys the hell out of me but I just can't let him go. I keep hoping he'll improve? it's torture. Why do I do this to myself." "You've already answered that question," I replied. "You're in an abusive relationship. Would you feel better knowing that many business owners are in the same boat? They've outsourced a task or made concessions to a delinquent account with hope of reducing the stress, but it only made matters worse." "I'd be better off taking the bookkeeping back and doing it myself," Andrew suggested. "That's not dealing with the underlying issue," I countered. "You outsourced the bookkeeping because you're not good at it, so taking it back does not serve your primary goal. You need a bookkeeper that will do the task and serve you, the customer." "Right! But how do I get rid of him? He has my files, my receipts, all my information. How do I get that back without starting a confrontation?" he asked. "Oh, I see. You want to bail out but not deal with the consequences. So the issue is with you, not him. You'd rather stay with the devil you know than the devil you don't," I said. "So what's the better action?" he asked. Andrew is struggling with a dilemma many business owners wrestle with: an unwillingness to confront poor performance. Whether it's with an employee, an overdue account or a business relationship, they would rather bitch and complain about a lack of performance than deal with the fallout. The pain associated with a focused, corrective action is greater than stretching it out over time. Do you take off the bandage in a quick rip, or are you prone to pull it off hair by hair? Do you plunge into the cold lake, or slowly wade in? "Actually your problem is the result of not taking action. You're enduring the suffering because you refuse to go through the process of letting him go and finding someone more competent," I replied. "This is all about you." Oftentimes when we are faced with challenges, we place the blame 'out there'; someone or something is doing us wrong. But in reality, we're just refusing to get clear on what we want. And if you're not clear on what you want, you can't initiate a decisive action. In most situations where inferior performance is causing grief, we know what corrective action is needed but we will do almost anything to avoid going through the anguish that a focused action brings. In Andrew's case, terminating the relationship and retrieving the information, plus starting over with someone new, was daunting enough to override his frustration with the current situation. So instead of dealing with the real issue, Andrew is left to manipulate consequences. We go to silly extremes to avoid pain, like pulling off the bandage hair by hair! Getting clear is always the first step. What outcome do you want? Plotting the action to achieve that outcome is the second step. If you're not clear on what you want, any action you take will only complicate the situation. And since most people avoid getting clear first, they land up manipulating the consequences of hanging onto the devil they know. "What do you want the outcome to be?" I asked Andrew. "Tell me in 10 words or less." Once you're clear, few words are needed. "To get my bookkeeping on track and up-to-date," Andrew replied. "Great! And what action will that take?" "Deal decisively with my current bookkeeper, get my stuff back and find someone new," he replied. "Right! But not just 'someone new', you want someone competent. Remember that your clarity will determine how decisive your action - and the response to it - will be. So if you give your bookkeeper another chance or leave it to him to return your files, your wavering will have a consequence on the outcome. If you're going to 'rip the bandage off' then make the action complete. A half-assed action only complicates things." Hanging out with the devil we know is a common business habit. How often do you cajole with customers or network with clients even though you know the possibility of ever doing business with them is remote. Instead of moving on and finding new leads or business relationships, you fool yourself with a false sense of comfort. Why invest your time and money and more importantly, your emotional substance, into relationships that will never bear fruit? Like Andrew, we really do know better. Luke Vorstermans owns and manages a successful publishing and communications company and is the Editor of Business Dynamics magazine and content contributor to IR Design.
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Summary Box: Commodities fall on Greece debt woes (AP) AP - GREEK WOES: Commodity prices fell broadly as a plan to fix Greece's crippling debt crisis remained far from settled, renewing concerns about global economic growth. Most commodity prices fall on Greece debt woes (AP) AP - Commodity prices fell broadly Friday after a plan to fix Greece's crippling debt crisis suffered a setback, renewing concerns about global economic growth. Bernanke urges action to heal housing markets (Reuters) Reuters - Federal Reserve Chairman Ben Bernanke on Friday issued a call to action to restore U.S. housing markets, saying depressed house prices and sales are a serious drag on the economic recovery. Obama call for manufacturing revival a tough goal (AP) AP - President Barack Obama is making a strong election-year push for an economic revival "built on American manufacturing." But he faces an uphill slog, with little consensus even within his own party on how to do it. Gov't on pace for $1T deficit despite January dip (AP) AP - The federal deficit was lower through the first four months of the budget year than the same period last year. Still, the deficit is expected to top $1 trillion for the fourth year in a row, putting more pressure on Congress and President Barack Obama in an election year. Bernanke: Weak housing has hurt consumer spending (AP)
January budget gap shrinks (Reuters) Reuters - The monthly budget deficit narrowed to $27.4 billion in January from $49.8 billion in the same month a year earlier, partly because some benefit payments normally made in January were shifted to December, the Treasury Department said on Friday. Anxiety over incomes hits consumer morale (Reuters) Reuters - Americans felt worse about their personal finances in early February, but rising confidence in the labor market's prospects should help to support spending and the broader economy. Romney appeals to U.S. business with harsh China talk (Reuters) Reuters - Mitt Romney slammed China's "autocratic model" of capitalism in a speech to technology executives on Friday, keeping up attacks on the economic powerhouse days before a visit from a Chinese official expected to be the country's next leader. Housing a "significant headwind" to recovery: Fed's Pianalto (Reuters) Reuters - The housing market is holding back the broader economic recovery now that foreclosures have become "a national crisis," a top Federal Reserve official said on Friday. Exclusive: Future of bank benchmark rate under review (Reuters) Reuters - A global probe into whether banks colluded to set the interest rates at which they borrow money from each other has thrown into question the future of the benchmark they use to price financial products worth an estimated $360 trillion. Bernanke urges action to heal U.S. housing markets (Reuters)
Spain cuts firing costs in new labor reform (Reuters) Reuters - Spain cut severance pay for workers on Friday and watered down collective bargaining rights, giving more power to employers as it attempts to kick start its moribund jobs market and slash Europe's highest unemployment rate. Portugal watches Greek debt drama with foreboding (Reuters) Reuters - Portugal's economy will shrink as much as Greece's this year, according to IMF projections. The two will have identical current account deficits and the red ink in Portugal's budget will be almost as deep as in Greece's. Trade deficit widens to $48.8 billion in December (AP)
U.S. jobless rate projected to fall sharply (Reuters) Reuters - Economists in a survey see the unemployment rate falling much faster this year than previously expected, an improvement in the jobs market that could help President Obama's re-election chances. Consumer mood worsens in February on income worries (Reuters) Reuters - Americans felt worse about their personal finances in early February, even as they saw a light at the end of the tunnel for the jobs market, a survey released on Friday showed. Instant View: Consumer mood worsens in early February (Reuters) Reuters - Americans turned less optimistic about the economy in early February on worries about falling income even as their outlook on the jobs market rose to a record high, a survey released on Friday showed. |
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