Here is an article that was adapted from Richard Branson”s new book Business Stripped Bare. I pre-ordered the book yesterday. Here is an excerpt and the link to the full article is at the bottom. Enjoy, he makes some very good points and it is very timely.
I learned never do anything that means you can”t sleep at night.
That incident was, as I”ve said, the biggest mistake in my life. But it”s through mistakes that we learn. One thing is certain in business. You and everyone around you will make mistakes. When you are pushing the boundaries, this is inevitable.
Even when things are running well, there is always the prospect of a new reality around the corner – as bankers around the world have been discovering to their horror. Suddenly, all the good decisions you made last week are doing you untold damage. Where on earth did you go wrong?
My philosophy has always been to face the facts, however unpalatable they might be. Failure usually occurs when leaders avoid the reality of business.
In business, as in life, there will always be external risk factors that are beyond your control. Oil prices triple. Hurricanes level entire cities. Currency fluctuations leave behind trails of bankruptcies. But you can take measures to mitigate and manage business risks.
Then, if disaster strikes, at least your attention won”t be split every which way by other worries.