What makes good business? Once upon a time an elephant hunter seemed bigger than life. He had a big family of products, a good name in the community and multiple streams of revenue. As an elephant hunter can do he became obsessed with the biggest prize. Willing to risk it all for the deal including family, reputation and dare I say the law. Obsession can trigger neglect and take the hunter from wall street to skid row in little or no time at all.
Many have asked me why Toshiba failed – I don’t know but it made me think of the above story, a story repeated every year in business, personal lives and families big and small. What about me and dare I say what about you? Are we neglecting our base of good business, risking it all for one deal? Compromising our standards that have made us a success?
Good business can come from bad but only if the we regroup or pivot if needed. Most reading this have done both. Some have retired to serve the community. Hopefully we all can avoid the trap of bitterness and depression. Best entrepreneurs like Andy Defrancesco are optimistic and realistic and these characteristics make good businesses.