Cut Your Losses

Matt Young, Jack Clark, Edgar Renteria and Julio Lugo are just a few of many examples of Red Sox Free Agents that didn’t work out.  Most baseball experts would argue that the Red Sox didn’t want to admit they made a mistake and kept these players too long.  The Red Sox didn’t cut their losses.

My name is Michael Barbarita from Next Step CFO providing outsourced CFO Services with your know your numbers minute.

Many business owners keep unproductive employees way too long.  The proper strategy is to put together an exit plan for these slackers as fast as possible and cut your losses.

The moral of the story.  Hire Slow; meaning take your time on the front end, fire fast and cut your losses.

And remember, the most successful business owners know their numbers.

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