Business failure is a vicious cycle. Most entrepreneurs start with lofty goals and look at the world through rose tinted glasses. First order of business? Survival. The second? Trying to do the right thing, day in and day out.
Somewhere along the way, the focus shifts from building customer loyalty and value creation to cost containment and making money. And, then the downward spiral begins. The tendency is to cut corners on the wrong things, to exploit the employees and let the facilities go to hell in a hand basket. Net result? Unmotivated team members, poor place of work, and customers who leave by the droves.
It takes certain intestinal fortitude to do the right thing, all the time. It takes courage, to not compromise when the chips are down. It takes a single minded focus to follow ones passion and follow one’s dreams. When the focus shifts to the wrong things, business failure is around the corner. It’s just a matter of time.
About Hemant Rustogi