You probably know that WeWork lost a ton of money through a failed IPO attempt and through the craziness of their former CEO Adam Neumann.
But the story that made even less sense was how SoftBank, its largest outside shareholder, kicked into high gear in supporting WeWork after the craziness started. As a result, SoftBank lost 4.6 billion dollars!
How does this apply to your business?
When all the signs point to a loss, stop investing!
- Drop your investment in a new technology that you hoped would benefit your team in amazing ways but really isn’t.
- Drop the time your team is spending on an initiative that shows little return.
- Drop your support of a partner who really isn’t delivering on their promise.
You’ll be glad in the long run, even though the pain – and cost – may be great in the short term.
I also published this article on LinkedIn.