PAY IT FORWARD.
All companies need a break when they’re in trouble or they won’t recover. Creditors and numerous professionals must try and “work” with people at a reduced rate so that at a later time monies can be restored. Sometimes, unfortunately, people take advantage of such good faith. I have witnessed company owners who become selfish after they themselves have been forgiven of past debt in either a bankruptcy or through the efforts of reorganization.
Recently, I noticed that a number of now successful company owners were being asked to restore people to correct monies earned. The company is now in great financial health so it made sense to help those people that were there in the tough times. Having said that, the professionals that were now asking for a correct rate of payment for service were flatly turned down.
Catastrophic Financial Failure
In the wake of their newly found financial freedom, company owners flatly refused to play fair, having no regard for those individuals who got them back in order. These good people who decided to lend a hand for God, Country, Family, Grandpa, Grandma and Apple pie are reduced to something of a favor being given to them by the company owner rather than being raised up as the hero in the story. A very selfish response to say the least. The problem is the entitlement.
Gratitude is a much better attitude for success. Whatever monies that are paid out fairly, is quickly returned in profits, both from the relationship and sustained income in the business. Unfortunately, some people don’t see it that way. And that is a very costly opinion. It’s an attitude that plagues business owners with a limited mindset for the future.
I have witnessed the selfish nature of entitlement in my career all too often. At the beginning a failing company owner is all too gracious to those working for a significantly reduced rate and then when things turn around, we see a very different person. When faced with this attitude, there is nothing anyone can say or do. In success, thank you “is all about the money” and there’s nothing wrong with that. “Thank you for working at a reduced rate and helping me when there was no hope, now let me repay the favor,” is a much better way to go.
Once you enjoy newfound success, take care of those people who got you there, otherwise, you’re a fool. Entitlement is generally accompanied by indignant and both of them appear to be absolutely unteachable and immovable. Only time will reveal these choices as unfortunate, and all too late.
So what’s the challenge? If you feel this blog is describing you unfairly, you most likely are the perpetrator of the crime and only you can change the course. If, on the other hand, you read this and feel it’s true, you’re already in good hands with yourself and your business alliances. Play fair always, common sense is not so common and stupid is very, very expensive. Call me and I will explain the differences to you.