Gaebler Ventures Gaebler Ventures is a business incubator and holding company providing venture capital investment and shared services to early-stage companies. We've invested in some great portfolio companies. Some of the best resources for entrepreneurs -- all based on our real world experiences! Our guiding investment philosophy is to provide exceptional returns for our investors. Check out the latest news from Gaebler Ventures. Learn more about Gaeber Ventures! Get in touch. We'd love to talk with you!   
 
 
Gaebler Ventures is a business incubator, holding company, and private equity firm. We help entrepreneurs transform ideas and innovations into greatness.

Articles for Entrepreneurs

 

Business Leadership Advice

 

Business Decisions Versus Personal Decisions

Written by Andrew Goldman for Gaebler Ventures

When we let our emotions cloud our judgment, we are not making sound business decisions. Make sure you don't make this common mistake and maintain a level head.

With all the work that the small business owner puts into running a company, it can be difficult to separate personal feelings from business decisions.
(article continues below)

While our personal feelings can influence our business decisions, we should not let them hinder our business or stunt our growth. When personal feelings or emotions stand in the way of a company progress, it's time to take a step back and analyze the situation from a purely objective point of view.

There are times when personal decisions are made and warranted. A small business owner, who is passionate about the environment, may be willing to spend more money on an alternative form of packaging that is more environmentally friendly. While this is acceptable and common in business, the point where an objective stance needs to be taken is if the company is not surviving.

If the business is losing money and a switch to a different packaging would turn the ship around, it may be time to separate the personal feelings and make a sound business decision.

While the above example is rather extreme, it illustrates an important point. A business cannot survive if it does not generate enough revenue to sustain itself and cover its costs. If decisions are being made that prevent the business from surviving, it's time to make changes or terminate the operation.

While personal feelings can drive a business that is doing well, they can also put the nail in the coffin. If a company is suffering it's time to make some hard decisions about changing the "personal perspective".

I consulted for a company whose CEO ran the business with a lot of personal emotion. He rejected suppliers if he didn't like the salesperson, and he would stop selling to customers who provided negative feedback. He had an exhaustive search for a production manager while his production leader was more than capable of the job. The CEO had some prior arguments with the production leader and did not want to promote the employee. Serious money was being spent in a hiring search when the right candidate was in the company the whole time.

The CEO was letting personal feelings get in the way of running the business properly. After some discussion, the CEO relented and the production leader was promoted to production manager. The situation was a success.

I am not suggesting running a business without a heart or soul. What I am suggesting is that if you find yourself making decisions because of your personal feelings; take a minute to observe the situation objectively. Put yourself in someone else's shoes and see if you would be making the same decision.

Gut feel and manager's intuition can be extremely helpful tools, but personal emotion can be a major hazard. If you find your decision is greatly different from what the numbers are or what your colleagues are saying, it's time to separate the personal feelings and make a business decision.

Andrew Goldman is an Isenberg School of Management MBA student at the University of Massachusetts Amherst. He has extensive experience working with small businesses on a consulting basis.


Comment Board

What's your take on business decisions versus personal decisions? Have you seen managers make business decisions for personal reasons and live to regret it?

Be the first to comment on this article.



Write a comment  Code Image - Please contact webmaster if you have problems seeing this image code
Problem Viewing Image
Load New Code

If you are an ambitious entrepreneur or an aspiring executive looking to get involved with a startup, please take the time to learn more about Gaebler Ventures.

 

 

Additional Resources for Entrepreneurs

Entrepreneur Attributes - Small Business Failure - Starting a Business

Business Incubators - Business Location - Business Partners - Startup Costs

Entrepreneurial Backgrounds - First Year of Business - Inventions

Network Marketing - Online Startups - Startup Resources - Entrepreneurship

Young Entrepreneurs - Business Ideas - Naming and Branding - City Guides

Buying a Business - Writing a Business Plan - Raising Money - Incorporate

Small Business Marketing - Advertising Advice - Public Relations -

Customer Service Tips - Entrepreneurial Selling - Workplace Safety

Startup Leadership - Strategy - Intellectual Property and Entrepreneurs

Articles on Exporting - Human Resources for Entrepreneurs - Workers Comp

Legal Information for Entrepreneurs - Sarbanes-Oxley - Accounting - SBDC

Business Credit Cards - Nonprofit Entrepreneurs - Mission Statements

Tax Tips and Resources for Entrepreneurs - Operating Your Startup Business

Real Estate Decisions for Entrepreneurs - Franchising - Selling a Business

Starting a Home Business - Small Business Technology - Business Travel

Business Finance - Advice for Retailers - Entrepreneurship for Scientists

Administrative Professionals / Office Managers - Family Business Advice

Good Businesses to Start - Start an Energy Business - Start a Hedge Fund

Payroll Service Information - Productivity Tips - Bad Economy Advice

Small Business Websites - Search Engine Optimization - Online Reputation

Search Engine Marketing - Social Marketing Optimization - Business Forms

Business in the Jungle - Business in Fiction - Negotiating - Radio Ad Costs

Newspaper Advertising Rates - City-Specific Resources for Entrepreneurs

Small Business Insurance - Global Entrepreneurship - China & Entrepreneurs

Entrepreneur Features - Employee to Entrepreneur - Small Business Ethics

Acquisition Speculation - Good Business Books - SBA Franchise Loans

Small Business Loans - Studying Entrepreneurship - How Kids Make Money

Social Entrepreneurship - Mergers and Acquisitions -

Veteran Entrepreneurs - Useful Web Sites for Entrepreneurs - Dell Deals

Buy.com Deals - Female Entrepreneurship - Small Business Experts

Entrepreneurial Resources by State - Resources for Young Entrepreneurs

African American Entrepreneurs - Resources for Hispanic Entrepreneurs

Resources for Asian Entrepreneurs - Resources for Women Entrepreneurs

Resources for Gay Entrepreneurs - Businesses for Sale - Office Supplies

Economics - Lists of Small Business Incubators - Lists of Angel Investors

Lists of Venture Capital and Private Equity Firms - Franchise Opportunities

Recommended Products and Services for Entrepreneurs - Contributors

Get FREE Price Quotes from Multiple Vendors - Business Glossary