Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Developing a Failure Standard

Posted by: Rod Kurtz on June 20, 2007

A small business owner will typically work hard to develop a clear standard for achieving a successful outcome, which makes it possible to recognize success when it happens. Yet it’s also critical to set up a measurement for determining when it is time to stop investing in someone or something—an advertising campaign, a marketing effort, or even a new employee. Lacking such a failure standard, we are informed mainly by opinions and hopes, which can lead us to make choices that drain vital resources for too long.

Take some time this week to consider your people and projects—do you have measurable end points for both positive and negative outcomes? Challenge yourself to know up front when enough is enough, however difficult it may be. In doing so, you are likely to save not just time and money, but a lot of frustration for all concerned.

David Peck
Leadership Unleashed
San Francisco

Post a comment



Want to improve the way you run your business? Entrepreneurs, academics, and consultants from diverse industries offer practical advice on a variety of topics each business day.

To submit a tip for consideration, first check our archive of previous tips to make sure you're not repeating a tip someone has already contributed. Then send the tip to Small Business channel contributor Michelle Dammon Loyalka. Because of the volume of material she receives, she may not respond to each individual.

BW Mall - Sponsored Links

Buy a link now!