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Hey HR: Don’t Throw Good Money After Bad

Started by Frank · 7 months ago

[Photo credit: Stephen Rees]
On my way to work at iFractal World Headquarters I walk past a construction project on 17th Street in Philadelphia that makes me shake my head. It’s been in the works for over a year now, and they’re finally above ground level. For six ... Continue reading »

4 comments

  • Ron Ulrici

    7 months ago

    I sure like the way you think, Frank. You've got me re-thinking some of my own projects!
    reply
  • Frank

    7 months ago

    Ron, we're birds of a feather. SNHR!
    reply
  • Jurgen Egges

    7 months ago

    Though I like the thoughts, I am not sure if you want to toss out everything that will not make money. Okay, get rid of the building. But sometimes it's quite hard to see if something is going to make money. At least: the Google-guys did not think at first that they would make money!
    And for being innovative and going where no man has gone before, the future and the output could be clouded. I agree that you don't have to go full speed. Just by experimenting with low cost -but probable- high impact projects you could get to good results, even if you are not sure if it brings in the money.
    reply
  • Frank

    7 months ago

    Jurgen, good point about not tossing out everything. And innovation does matter...and sometimes that involves risk. It's so true that pilot testing works..and so does investment in projects that will pay off in the future. It's just with the economy like it is, it's time to step back and always think about the financial impact and the odds of success.
    reply

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