Now, if you read www.rrsps.ca, you'll see that I wrote a post about success from the investors point of view. But, from the business point of view, questioning success is even more important.
Success in business is often viewed as magic. People get out of the way of high performers. They don't question the departments that bring in more money, nor do they often ask how major changes come about, so long as those changes are positive.
Successful business is a symbiotic relationship. Something is offered to the market, and the market offers money back. However, there are times when the relationship can become parasitic. In the case of the sub-prime crisis, many financial firms lent money to lenders who could not repay it. This looked fantastic on their books in the short-term, but in the long-term these mortgages drove people bankrupt. Like a parasite, the financial firms caused harm to their hosts.
There is a great industry in business for questioning failure. We look at case studies, interviews, news articles, diagrams, charts and PowerPoint presentations. Since a failure has occurred, the financial markets will now be questioned and corrected. But, if you take a lesson away from this, question success as well. Profit is wonderful, but if 10% in profit today costs you 90% of your profit tomorrow, it's not a good choice. While the stock markets and industry share prices often push us to think on a shorter term basis, we do need to think long-term to keep our businesses healthy.
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