When is Cost is Too High?
Business owners are rightfully concerned about the bottom line. If you aren’t profitable, you can’t grow. Maybe more pressing, if you don’t make money, you can’t serve the people you are trying to serve, you can’t pay your employees…. you certainly can’t pay yourself! So, it makes sense that when business people encounter new potential costs, they want to avoid them (no matter how small). But what happens when the avoidance of perceived costs leads to avoidance of innovation and new solutions? When long term financial gain is sacrificed over fear of up-front investment? How does that effect long term goals, growth, finances, and values of an organization? Examples of the consequences of short sighted or fear-based decision making in business are not hard to come by, and trust me, I’ve been there myself. It’s hard to look towards big goals and the future when you’re drowning in day-to-day tasks and bills are on the way. Home or senior care organizations are frequently so buried ...