Monday, February 24, 2014

Failure of a business

When I was young, my mum told me that it is not good to have three as a partner for business as three leg chair is never firm. This is a logical analogy but even four partner business also have failed miserably. It is not about how many partners in a business but rather are these partners experienced business person ?  You can have ten business partners and you can be successful if everyone of them are truly business persons.

In Chinese sayings, it is very easy to manage a partnership or a company when it is making money but if it start to lost money, it will be very difficult the harmony among the partners unless they know where the business have gone wrong.  This understanding takes experiences to accrue.

Many business starts with good friends but they ended up as enemies or adversaries because of failed business or difference in opinion. We can be very naive to think that our friendship can survive the bad times or differences in opinion especially when the business have lots of problems.  These make make worst if there is no proper agreement or scope of work or roles for each participating partners. These gray lines are where it catch fires and spoilt the relationship.

Some business ended up in legal tussles , shouting match or bad relationship and even turn a brother against a brother or a father against a son. Of course, this situation can happen when the business is making or losing money. When we have make the money, we want power and we wanted more respect and then more money.  The greed has no limit and no boundaries.

It takes a lot of wisdom as a person to behave like good partners and being able to understand that life is hard and have complete trust when we face a severe storm and how to behave as good partners to survive the test of time and problems.

There is a wise saying " When you are successful, you have to remain humble and unchanged as a person" and this is a very difficult challenge in our life.

Namaste.

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