Some business people want to prevent losing by not keeping score, by ignoring the results, or by constantly moving the targets.
When my sons were introduced to baseball as small boys, the league prohibited officials from keeping score because they did not want the children to become too competitive at such an early age. League leaders wanted to emphasize the spirit of playing the game and having fun over winning or losing.
This did not work out the way the league planned. All the children on the team who knew how to count were keeping their own score. They knew who was winning! More importantly, they understood that a key part of the game is knowing how to win and to lose.
In winning, you can celebrate with your team members. You are elated because your hard work achieved the goal. In losing, you console yourself along with the team. The next steps are to learn what to do better, shake it off, and vow to return the next time to try again.
It’s important to know the score and declare winners and losers. A recent Ohio High School Hockey championship game was halted after seven overtimes and a 1-1 tie. State officials declared co-champions which angered a lot of players and fans. There was no postgame trophy ceremony because there was only one set of championship hardware. The players took turns posing for pictures with the lone trophy. In ended in a totally unsatisfying experience for both teams.
Many small business owners move their stated targets and goals so they don’t have to admit defeat. This happens during the budgeting process. The company will set a financial goal for the year, but when they start to miss this target, they change the budget. They hate to be wrong so they move the goal to a place they can make it. Similar, objectives are established for employee bonus pay, but when the target is missed, some companies award them anyways because of effort.
Both these examples defeat the purpose of setting a budget or establishing a bonus. Business people learn quickly that winning is a lot more fun and profitable. Learning what it feels like to lose is critical because that will incent everyone involved not to repeat it.
If your company never loses, how can they really appreciate winning?Tags: Entrepreneur, Finance, Money Management, Startup