You know, the greatest pain for me…was the loss of associates…many of whom had been with me for a decade or more.
We had the opportunity, at a prior time, to shut down the entire Orlando seminar operation and to operate the very profitable WizeTrade division we had built exclusively out of Dallas. We could have maintained a core of something like 10 individuals (literally 10) in Orlando and operate the balance of the Wizetrade business out of Dallas. I had several key executives who had lobbied for that result.
Obviously, in retrospect, that was the better decision from a business point of view.
What prevented me from doing that at the time, however, was the loss of relationship. It was the pain of loss. After all, I had employed many of those people for a decade or more. We had been through the battles together. We had fostered a business together. Somehow, I couldn’t figure out what I was going to say that would have made it alright to give them their walking papers.
At the end of the day, when we see where we are today, the brutal force of economics ultimately prevailed. When all the cards were played…in the absence of some miracle, the associates ultimately had no choice but to go elsewhere (voluntarily or involuntarily), because they or I cannot afford for them to stay.
I am left with the same result I would have had should I have let them go with one major exception: I now don’t have the cash generator anymore because I let it go in order to save the Orlando operation.
In retrospect, I now recognize that I realized at the time what the appropriate business decision was, but I could not allow myself the pain of the loss of personal relationship in the short term even though I must have seen somewhere that, no matter what, I was ultimately going to lose those relationships eventually anyway.
I never formally studied business. Maybe that’s one of the lessons I missed in the process!
3 Responses to “Greatest Pain”
1. Tony Martinez Says:
April 11th, 2010 at 8:56 am
Hi Larry,
i’ve read all of your posts regarding what you’re experiencing from your company’s challenges, and having to completely restructure. i believe every emotion and thought that you’ve communicated thus far, i felt when my company when down about a decade ago. we weren’t as large as Dynetech, we had 74 employees, we didn’t generate as much revenue, we did $15 million our last year in business, but the emotional and psychological affects of losing something i worked so hard to build, and the unraveling of so many relationships, was very difficult.
there’s so much if feel i can share with you about my experience, and if you’d like to talk, you can feel free to contact me on my personal cell (619) 208-0565.
that experience has proven to be one of the most valuable experiences of my life, and even if some how i could, i still would never change it. as a matter of fact, because of the person i’ve become on the other side, and the manner i’ve been able to impact the lives of others because of it, i’m thankful for every painstaking moment. today, i wear the experience like a badge of honor.
Larry, i’ve always had tremendous respect for you, and today that respect is greater than ever. i truly believe this experience will prove to be one of the greatest assets for the manner in which you will touch the lives of others in the future.
you’re amongst one of the chosen ones… the chosen ones who suffer great loss, and have the heart and endurance to become more valuable to humanity because of it. as a great mentor of mine once told me… “never waste a perfectly good setback.”
take care and God Bless,
tony martinez
2. Larry Says:
April 17th, 2010 at 6:59 pm
Thank you, Tony. And I never knew what you were going through. I surmised there was an issue, but I didn’t realize it. Thank you for sharing your personal thoughts. And yes, I will give you a call and reconnect. All my warmest, L
3. for the sake of love lyrics by trey songz Says:
May 8th, 2010 at 8:04 pm
This is a great post, I stumbled across your article while looking for music lyrics. Thanks for sharing, I’ll be sure to come back.