Michael Lodge –
I had an accounting client one time that was a mortgage company, owned by two individuals. They loved to flaunt their success, wearing Rolex watches, taking the best vacations, and the list went on. But there was a problem, they were not making any money in a hot real estate market. They were not executing a solid business plan but instead wanted to build a story of success by flaunting fake wealth. They were living on credit cards and had no real cash flow. They were so focused on their fake story of success and not by working on the execution of doing real business. Everyone else in their industry were making millions and they were just making thousands. They are no longer in business because they told the wrong story.
I think this is why when I see a Rolex I immediately doubt and a warning sign goes up. Success is about the execution. Even in a crises, it is how you execute your plan so you only lose a part of the business and over time you rebuild through execution of a solid plan of action. Those that flaunt usually don’t have it, they don’t have a real success story to tell. Look at the person driving his company to success, who may have had a crisis in their business or personal life but survived, who takes a crises and makes it a positive. Those are the people to watch and take notes on. Success is how you execute it.