Avoiding Costly Crisis

The sense or ability to anticipate a problem in its early stages is an advantage for some entrepreneurs. Stopping a problem in its early stages saves money and resources and is often as good, and sometimes far better than paying extra when it becomes an emergency.

Being hesitant in addressing a looming problem, or worrying about looking indecisive or imagining the possible repercussions that may result can be costly.

A financially sound company allows the decisive executive to pull back an incorrect decision to stop and avoid problems or fix it while it is still small.

A financially strapped company on the other hand often has the insecurity of worrying about making a mistake, therefore, fear of making early corrections due to fear of costs and making a correction too quickly. It such situations it is not usual to wait until something becomes an emergency because they don’t feel they have the time or resources (dollars) to spare. This can become Expensive!

This gives an advantage to the financially sound company with an intuitive executive leader willing to make a corrective decision timely.

© Copyright 2016 Phil Hoffman

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