Friday, August 26, 2016

Business for the Greater Good and Success

Today’s blog we’re going to discuss doing things for the sake of business. I recently ran into a moral and ethical crossroads. Do I do a project that a writer owes me when I don’t feel comfortable with this writer’s moral and ethical behavior? Well, to give you some important information, the project has been long paid for and is beyond overdue.

My personal feeling was instantly no. I didn’t want to help someone whose behavior was reprehensible. Problem is the money had been spent. If I did the project I would have the chance to recoup the losses. A moral and ethical question for sure.

In business we will run across these dilemmas. Actually in life we will run across these issues, too. I felt the question was a test for me to approach as a businesswoman and from a strictly financial point of view. Letting my personal feelings run my business only works so far. Sometimes you need to look at your business as a business and what’s best for it. Of course what is best for me as a person matters so I don’t sweep that sort of thing away.

The key was to find a solution that I could live with. I had before me an opportunity to recoup my losses. Well, I had several opportunities to regain the investment. Here is how I looked at everything. 3L Publishing’s business model has been in decline with the competition we’ve faced from lowered margins and do-it-yourself products that marginalize our value. With things in the industry in the middle of flux with the eBook revolution having a heavy impact, I’ve been looking out ahead to make changes. If it’s not working anymore time to fix it.

I had to step back and examine my business management. I do think it’s personal when you’re making people’s dreams come true. On that level, I care very deeply about our authors’ successes. When it comes to keeping the business alive and thriving my methods haven’t worked. I’ve been too casual I think about holding the line on business is business.

Sometimes you have to step back and have that “keep-it-real” moment. Sometimes you have to look at the bottom line – and that line here at 3L Publishing is about keeping the doors open and bills paid.

At that point I realized my past best practices weren’t working. We’ve been treading water now for about two years. Time to switch it up. Time to look at business decisions through a different lens.

So, I decided to go ahead and seize the opportunities. Running a business using the idea that I CAN cut off my nose to spite my face is a fail point – not to mention an unattractive look LOL. Putting it squarely as this is the way to recoup some heavy losses, but switch up the management of the projects seemed to make sense. The question of whether or not I like the author gets thrown out.

The real question is: Do I think the book will sell and make back the money already lost. The answer is yes.

Look! That’s the answer plain and simple. When running a business or promoting your book you should just keep it simple. Money is the power to stay in business and continue to make authors’ dreams come true.

I made my decision based on the greater good.

As leaders and creative people sometimes the answer is really that straightforward.

So go conquer your own greater good.

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