Describe a decision you made in the past that helped you learn or grow.
In my professional life, I’ve had several setbacks but one in particular was a turning point.
Won’t bore you with all the background – it’s a blog, not War and Peace! – but I’d been working for a friend after he invited me to join him in expanding his business.
I’m a good salesman and very quickly created an upturn in his business that lifted it from a struggling, loss-making one to a high turnover, profitable one.
So much so he offered me a partnership position. So far, so good. Stay awake, it might get interesting!
All agreed on a handshake*. Fine, I’d also added value to the business and I was involved in sourcing, buying and managing the larger contracts that I had established.
Tickety boo**! Or so I thought. A couple of years went by (I was on the same pay as 6 years earlier) and suddenly I was confronted by a situation that was very alarming.
I had grown the business to a million pound turnover and suddenly I’m told (not involved! Funny, thought I was a partner!) that he might have to declare bankruptcy!
This was the pivotal moment. Learn or grow? Panic or give careful consideration. Because of previous mistakes, I realised I needed to think clearly.
I consulted 2 professional people. The bank manager I had approached to split the main business with as a subsidiary. Also an accoutant that had previously assisted me professionally.
Their advice was significant. It propelled me in an unexpected direction. They both pointed out that without a written contract, I was liable for HALF of the tax demand. Not the 10% my business partner stated.
I know! I was staggered to say the least! It was in fact my eureka moment.
I quit the job, started my own business which was immediately successful and left him to sort out his mess.
Good call! I learned 2 important things. PUT ANY AGREEMENT (even with a ‘friend’) IN WRITING. The 2nd, far more important, is – BELIEVE IN YOURSELF.
Looking back we have restored the friendship though it’s a shadow of the former time. Some other things happened after that I won’t describe now.
Now, given the same situation, I’d have got the written contract before starting to work for whoever was offering.
Decisions? Yeah I’ve made a few lousy ones, but now my motto is: ONWARDS & UPWARDS!
Don’t let anyone take advantage of your skills and ability. Even a friend. Be kind, be loyal where it’s recognised, be purposeful, make stuff happen and be glad you can put bread on the table.
Have a great weekend!
*”handshake” a very interesting history to this. In medieval times, if you offered your right hand, it was a sign of trust. Usually fighting with a sword you used your right hand, see? In the UK to shake hands is not only friendly but confirms an agreement. NOT RECOGNISED AS SUCH BY THE TAXMAN!!
**”tickety boo” a phrase that means everything’s good, chill baby we’re good to go. Probably a history to this but I don’t know it!
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