Wednesday, January 21, 2009

Desperate Times means Desperate Decision-making

My wife is a great networker, always helping people, connecting them, etc. It’s a gift. One day I received a phone call from a man (his wife is friend’s with my wife). He told me that his wife (via the Networker, my wife) wanted me to talk to him about being better at handling his personal finances.

After quickly fessing up that I’m not a financial guru and that I find P&Ls overwhelming, I shared one thing that meant a lot to him:

When you are financially strapped, the biggest danger is in the decisions you make. When people (or corporations) are in monetary peril, that’s when they do the most mind numbing things—they break the law, they lash out, they reward themselves lavishly, they disappear, etc.

And when you’re desperate and making horrific decisions, you can’t be yourself, you can’t be at your best for your family (or you clients or employees).

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