The Hidden Costs of Shortcuts

The Hidden Costs of Shortcuts

“I do not deny that many appear to have succeeded in a material way by cutting corners and by manipulating associates, both in their professional and in their personal lives. But material success is possible in this world and far more satisfying when it comes without exploiting others.” (Alan Greenspan)

Bernie Madoff.  Michael Milken.  Ivan Boesky.  Charles Ponzi.  Jack Abramoff.   Enron.

The aforementioned are cataloged in the annals of infamy for cutting corners financially, hurting a lot of people and ending up in jail.  Greed and hubris motivated them all.  Plus the fatal narcotic of self-deception, thinking they could get away with their crimes.

There is no shortcut to the building of a large and stable estate.  Wealth grows in the soil of patience, competence and hard work.  There are no substitutes.

A good deal of the writings in the book of Proverbs came from Solomon, son of David, Israel’s wisest and wealthiest king.  Here is what he had to say about the acquisition of wealth:

  • Pro 28:8  Whoever multiplies his wealth by interest and profit gathers it for him who is generous to the poor.
  • Pro 28:19  Whoever works his land will have plenty of bread, but he who follows worthless pursuits will have plenty of poverty.
  • Pro 28:22  A stingy man hastens after wealth and does not know that poverty will come upon him.
  • Pro 10:4  A slack hand causes poverty, but the hand of the diligent makes rich.
  • Pro 21:17  Whoever loves pleasure will be a poor man; he who loves wine and oil will not be rich.
  • Pro 22:16  Whoever oppresses the poor to increase his own wealth, or gives to the rich, will only come to poverty.
  • Pro 13:11  Wealth gained hastily will dwindle, but whoever gathers little by little will increase it.

Avoid like the plague the get-rich-quick mentality.  Build your estate, your wealth, day by day, dollar by dollar on a foundation of hard work, thrift, competence and compassion.  You are not Gordon Gecko.  You’re better than that.  Avoid the siren song of cutting corners and coloring outside of the lines to get ahead.

“Rather fail with honor than succeed by fraud.” (Sophocles)

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Decisiveness: Cornerstone of Leadership

Chuck MisslerIf there is one thing that defines a leader, it is decisiveness.  This is that indispensable ability to weigh the facts, make a plan, and then execute it at the right moment.  When the heat is on and somebody needs to act, it is the leader who looks at everything, chooses a course, and moves forward without looking back.

Chuck Missler, US Naval Academy grad (class of 1956, pictured above), once said, “Weak men hurt people.”  He made this statement in 1982, at a gathering where he spoke on business ethics.  Chuck made his living as a professional executive in the Defense and semiconductor industries for over 30 years.  He happened to be teaching a group of Christians to be ethical and stable in their business dealings.  And chief among these qualities are decisiveness and keeping one’s word.  “The sanctity of a commitment.”  At the time of this talk, he was CEO of Western Digital Corporation.  A proven leader with ballast.

You will never get anywhere being wishy-washy.  Vacillation and inability to come to a decision are fatal to leadership.  In contrast, people will follow someone who knows where he is going and knows how to get there.  And get there with dispatch, knowing that time is too precious to waste with “analysis paralysis.”

When the pressure’s on, the leader cannot afford to buckle.  Time, money, confidence, respect; all are lost when someone in a position to do the right thing can’t make a decision or takes too much time so doing.

It is far better to make ten decisions and have seven of them prove to be good decisions rather than to wait and wait and only make two good decisions.  The reason is that although both decisions turned out to be good, the effect of waffling has compromised your influence.  Playing it safe often makes your followers feel unsafe.    Why can’t he make up his mind?  Are we staying or going?

Your high calling as a leader—whether as a husband, business leader, captain of a sports team, etc.–means being decisive.  You cannot afford to be ambivalent in the clutch.  It is charming when we watch Fiddler on the Roof and see it with Tevye the Dairyman.  In real life, vacillating is uninspiring at best and dangerous at worst.

Being decisive and stable brings a host of benefits not only to the leader but to those who follow him or her.  You earn respect.  You inspire those watching.  In the marketplace, if you can weigh the facts and act quickly, you’re worth more money than those who can’t.  If you’re a military leader, you will undoubtedly save more lives than you lose.

Here’s the challenge.  This next month, make a calculated effort to make quicker decisions.  Do this with anything from where to go out to eat to vacation plans to starting a new growth project, like a blog or exercise program.  Weigh the evidence, do a cost/benefit analysis and then act.

You’re going to be pleasantly surprised.

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