I have noticed in my travels that people will do what it takes to get out of trouble. Here’s the catch. Whatever spirit got them into trouble in the first place does not go away. On the occasions when clients have survived bankruptcy and come back to fight another day, there is that little voice inside of each of us that says, “let’s try it again.” That phrase is exactly what will put people right back into the mess they just got out of. Once restored, whether in bankruptcy or tough financial reorganization the yearn to get back to the old ways will return. The question is can a person serve two masters? The right way and the wrong way is the only option, both ways isn’t possible. If broken the laws of cash flow, taxes or irresponsible personal choices, will exact a price. I’ve often cautioned clients not to spend their second chance on old habits. Unfortunately, after months and years of working towards a better life, people revert to their old behavior as if programmed by an invisible force of nature. Some completely aware of their choices and some not. It’s as if a terrible, twisted magician came along and cast an awful spell on the success of a company’s second chance. I’ve noticed that those people who are successful in their life after the “turnaround” accept the fact that there are flaws within them that must be tended to. For instance, I’ve read in numerous studies that a cigarette smoker never really loses the memory of smoking, nor does and alchoholic lose the memory of the “aaahhh” feeling of the first drink. Once either of these short comings is re-employed, it’s hard to break for the second time, sometimes harder than the first. This is the truth of turnaround. When people are used to the absolute power of spending money and living whatever way they see fit, even after a financial catastrophic failure, that feeling of power is hard to break. So, those who succeed such vices understand that they are always at risk. This is a powerful realization. When understood a leader can survive severe challenge and come out the winner again. The personal learning that happens after a reorganization is the only thing that can insure the future successes of any corporation. Whoever is at the top, realizing their own short comings, is able to navigate their own mind to walk around those things that have and will again cause problems. A person that can master these personality traits is truly a powerful individual. By nature an entrepreneur is selfish and egocentric and in many cases narcissistic, however those traits can also be a strength if mastered. By understanding these unrelenting traps, one could change selfish to understanding, egocentric to compassion, and narcissistic to relationship. It is possible to realize one’s potential through the catastrophe of our own short-comings. I’ve seen these things happen in people, but unfortunately for many I’ve witnessed the opposite. People that are consumed by a narrow mind hell bent on bad habits and the never ending pursuit of walking the fence, never quite choosing correct living and excusing bad behavior for any number of reasons. Reasons that benefit a short term gain and in the end cause a long, long term loss. There is no way to gauge a liar. A liar is the keeper of when to lie and when to tell the truth. The problem there is that a liar believes that lying is an option for a good end. That, of course, is a lie. Mostly the worst lies are the ones we tell ourselves. By the time we figure out we’ve been bamboozled by our own accountability we’ve lost the war. May I say, take the counsels of those who’ve succeeded with you, never forget your where you came from and live so that others may share in your happiness. Making money is a team sport, play fair.
Anytime day or night
- Caught in a cash-flow crunch and forced into bankruptcy chapter eleven.
- Corporate life, small business is exactly like being in a rock n’ roll band.
- Truth and Success vs Truth and Failure
- Micromanagement Is Being A Leader To Employees
- The truth about small business and positive cash flow.
- People, who are in trouble, simply want to get out of trouble.
- Is Chapter 11 Bankruptcy a bad thing?
- Patrick Rettig is guest on David Wolf’s Smallbiz America Radio
- “Business turnaround” the business of going out of business…
- The List Every CEO Must Follow
- (R)evolve Into a Better CEO
- Turnaround a failing business…
Subscribe to Blog via Email
To Book Patrick Rettig:
• Radio / TV Appearances
• Speaking Engagements
Contact: Nancy Peacock
• Speaking Engagements
Contact: Nancy Peacock