Ways Greed Can Ruin Your Business

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Many times people mistake greed for being ambitious and while being ambitious is good it has its own negative sides which cannot be compared to how cancerous greed can be. Greed is a car with bad engine and a beautiful coat with promises of taking you a million miles when all it will actually do is take you back to the beginning. It is very normal to want the best for your business, to see it grow to a certain level but when these expectations become too high you might just be setting it all on fire. According to Wikipedia, greed is an uncontrolled longing for increase in acquisition or use of material gain or social value such as status or power. Greed has many ways which can turn your business into dust before you realise and one of those is becoming inconsiderate and mean.

Due to the fact that you are ready to do anything to make money you begin to see clients and employees as ways to reach your goals without thinking how your actions or words could affect them. Greed will be sure to blind or kill the last cell of kindness you might have in you. With time people will start to realise they are just another chess piece on your board and trust you less or even withdraw from you totally. Not only would you be loosing relationships but also people that could have been a source of help or support to your business. It would only be a matter of time before you realize you are alone and your business starts to suffer.

Another way greed destroys a business is by biting more than you can chew. In a bid to make so much money you take on so much clients or jobs than you can handle without thinking about the timeframe. No matter how hard you work you might not be able to deliver and pretty soon you start to loose clients. Your workforce will be over stretched, frustrated and it is only a matter of time before you have to interview new employees every week. This is even sadder because you would be loosing qualified and loyal employees and be forced to work with people who care less about your business.

Greed will also push you into making bad and desperate decisions because you are desperate to make money. By doing this not only will you be loosing financially but your business would also be loosing it's credibility in the industry. Other businesses or brands won't want anything to do with your business and same goes for investors. Soon after your employees will leave for greener pastures because they know the business is about to collapse and there's no way you would be able to pay them.

And finally greed will ruin your business growth. By focusing on how to desperately make money other parts of the business that needs nuturing and investments will suffer. Rather than having all round growth there would be no growth at all. Just because your business isn't making millions after launching doesn't mean it is a failure. By investing in the quality of your products, customer experience and other factors your business will experience growth that will ultimately bring in profit.