Lessons from the big guys about the big decisions you must make

One company had a reason to sell and the other had a reason to buy the same asset. In each case a bunch of smart people crunched numbers and a Board of Directors mulled over the transaction and approved the exact opposite strategy.

This is not about GPT or about Federation. The same scenario plays itself out millions of times a year in all industries. Some smart people see evidence for climate change and some smart people don’t. Some smart people see Evolution as the grand architect of our life, others see God. (Of course, whoever disagrees with you is dumb, right?)

Let’s use the sale of the shopping centre as an example for decisions in business: There is no right or wrong. (Last week I wrote how everything you believe is wrong.) In a few years one of the companies will have benefited more than the other from that transaction. It still doesn’t mean that it was right or wrong, just better or worse. Or both could win. And of course both could lose out, despite their best efforts.

It may different if you are a brain surgeon; where the domain is small and closed. Perfection is possible. There is a right way to make an incision. In your store there may be a right way to cash up and a right way to build a display.

But the more important the decision and the bigger the domain, the more complex everything gets. Should you go multi-channel? Should you open another store? Should you consider franchising?

Don’t obsess about getting it right. You never will. There will always be arguments for both sides. Think. Evaluate as best you can. But then, pick a side and go hard.

Momentum overcomes most obstacles.

When you work in a complex adaptive system known as ‘the market’; close enough is good enough. In business, fortune really favours the brave.

This is my last post for the year, but there are a few more on my other blog; amongst other things, a post about the Dixie Chicks debacle of a decade ago. Come and visit if you need inspiration.

Otherwise, have fun … and remember: GO HARD, even if you get it a little bit wrong.

I hope for a blessed festive season for all readers of INSIDE RETAIL.

Dennis

Ganador: For retail-savvy teams taking on the 21st century economy.