That’s right, DESTROY! It can kill moral, stifle innovation, increase gossip, diminish customer service, and reduce profits. An emotional attachment is a desire for something or someone, and the inability to release or do without that thing or person. We tend to think about this when it comes to relationships, but have you ever thought about whether you are emotionally attached to say ….a line item on your P&L?
Perhaps it’s a daily lunch paid by the company. Perhaps it’s a hefty bill to an industry association that you can’t leave because you’ll miss your buddies. Perhaps it’s a supplier that has given you cool swag. Perhaps it’s a vendor that is a Facebook “friend” and you don’t want to offend them.
I’ve been blown away at this as I’ve consulted with companies. They don’t mind if the company closes and people lose their jobs, or if they destroy any chance of having any money for their retirement. They are so emotionally attached to certain line items on the P&L that they don’t witness the destruction that is occurring around them.
So what is to be done about this? If one is willing to accept that their organization can use its money more wisely, and they are willing emotionally detach and swallow a little pride, huge things can happen. Here are a couple guidelines:
1) Look at every line item on a budget with scrutiny.
2) Categorize your line items into the following categories:
- Eliminate
- Optimize-in most cases this will mean to reduce, but sometimes you may want to increase a certain area because you realize it has a great return
- Keep.
3) Take Action on Step 2 by eliminating and optimizing the items you identified.
4) Consider outside help. When you are emotionally attached to something, it looks like a need, even though it is a want.
5) Be Creative. Don’t ever accept that you are stuck. Look for alternatives, ask certain vendors and suppliers if there are discounts, look for alternate ways of doing things that could save money and improve a key aspect of your business at the same time.
Being wasteful can cause big problems, being emotionally attached to waste, can kill a company (Tweet This). It is important to be able to step back from your business, take a reading on what is happening and make changes for a better future.
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So, now that you’ve read this article, how are you going to use this information to eliminate dangerous emotional attachments?
Take a moment and share your ideas in the comments section below and please share this with your social media friends, and subscribe to receive A Slice of Leadership notices, as well as occasional leadership advice, articles, tips and freebies.
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About Todd Nielsen
This is right on. Thanks for the subject matter. I have seen this time and again in larger companies, as well as solo-preneur businesses. It’s pretty wide-spread across genders as well, so the message is timely and important.
In my own business, it’s been super important for me to distinguish when I am “forcing” something to stay or go, so that my head is clear for solid business choices, which will GROW my business, rather than kill or (at the very least) mame it.
So far, so good. In fact, I just recently cancelled a trip I was really looking forward to (for business AND pleasure), because it’s not responsible to leave at this time. I had to take a hard look at my “WHY”, and determined that it would be more strategically sensible to reschedule.
Thanks again, Todd
Having worked from home almost my entire career in travel and having invested a lot of money for R&D and an investment property over the past 8 years, I find myself in the middle of a nasty divorce where I may lose everything. I admit and take responsibility for my bad choice in partner, and the lesson of the past week has been when to let go of the emotional attachments I have to the business location and coming up with Plan B for the future. No easy task to do when your livelihood is being threatened and you know that the only way forward is to let go of the attachments. Nice timing to come across this article! Thank you for the insight and food for thought as I move through this critical time.
Good advice. Thanks for sharing this post. Blessings, Deborah H. Bateman-author
Its like allowing the water to enter your boat knowing fully that it may sink you. Sometimes we also fail to pull the plug because of our sloppines, sugar coating it as an emotional attachment.
Boddo chaap…but good to see u active in facebook
This happened to me. Having studied cases like this in my second year of the HBS OPM (Owner President Manager) Program, I released 30% of my client base. They were not only making us money they were costing us money.
I had emotional attachments to these clients. Some I’d worked with for many years and I was enabling their high-maintenance. What a relief.
Sometimes I have to get rid of the old to make room for the new.
Isn’t it true however that without any emotions we may become more automatons than human?
Emotions are necessary, some attachment is also necessary. But emotional attachments need to be controlled – not eliminated – is my humble opinion.
Being emotionally attached to bad expense can run a business into the ground. I agree tat on a human level emotional attachments are good, but temperance in all things. Thanks for your comment Vivek!
Well said! I have seen this type of fixation time and time again, it’s stifling and limited and can ultimately cost a company dearly!
Thanks Heather for the validation. For those of us that have seen this, it is not a pretty thing.
sounds like you are talking about what many call entitlements. Yes? Emotional attachement is a less pejorative term.
Oh don't get me started on entitlement. 🙂 Thanks for your comment Chris!
Understood. And leaders frequently form emotional attachments to products, services or locations that end up sinking the ship and sending the balance sheet to bankruptcy court. I appreciated your post.
Oh ok, I understand what you mean. You are exactly right. Well said. Thank you for the comment.
Todd: There are things that I am and have been emotional attached to. Some of which I have been able to rid myself of, but I like your guidelines in this post. I am a person that it does not take a lot to satisfy, but at the same time there are some things that I feel I have to have. Unlike many, I at least attempt to seperate my needs from my wants.
Just my two cents, but really nice site! It is a pleasure to meet you!
Best wishes,
William Veasley
Thanks William. We are all on a self-improvement journey and dangerous emotional attachments can pop-up all the time. Good luck in all your endeavors.
It is not the leadership team's job to fall in love with their products or service. That right belongs to the customer…
The article is about unhealthy emotional attachments to line items on a P&L. Nothing to do with falling in love with one's own products or services.
In essence if you are saying the customers should be emotionally attached to your goods or services than I agree with you provided that they are sustainable. I had to let go and accept my positioning strategy or business model was not was working and re-do my business plan and started to see changes not to mention good business.
I did this at the beginning of the year and found great benefit in the practice. Thank you for reminding me to to it again.
God job Tim. Keep up the good work!