At first glance this seems like an easy one; don’t spend money that you do not have and then you’ll never have a deficit and with that you will have a much better chance at staying in business.
In this case though; that isn’t necessarily the budget to which I am referring.
There are a certain amount of things in life that you can use, take, and take advantage of; when you go one more over, or one step too far, you find yourself in trouble.
In a healthy relationship, the occasional fight is normal. However when one person continuously takes advantage of someone who loves them, eventually, one day they find themselves out in the cold (hopefully not a vortex). Just last night I was witness to the workings of a relationship where 1 person would tell their partner “this is who you are allowed to talk to and be around”; what the person dictating the orders does not realize, is that she is pushing someone who cares deeply about her away. Trust and communication are important, if they do not exist, just end the relationship.
Friendships work the same way. I can admit that years ago, I continually took advantage of a friend I had almost all of my life. It was very much a one way friendship, I have not spoken to him in 9 years and I wish him well. Over the past 9 years I have watched others go through similar things. Even though I refuse to get involved in someone else’s affairs, it is still painful to watch.
While friendships and relationships take a really long time to dissolve when someone is being taken advantage of, business partnerships tend to be much more volatile. My advice to anyone with a business partner would be to stay vigilant, and to be sure that no one obsesses over any one specific part of the business or the revenue generated. A former business partner once called me a snake over $12.00. While $12.00 out of $1,150.00 would seem trivial to the logical, I should have dissolved the partnership on spot, but I didn’t and the relationship became hostile, and I was no longer motivated to work with the person. It was not until that point that I saw that my less experiences partner was focused to trying to get the most out of me for their financial benefit. I had allowed myself to be taken advantage of, it felt horrible. I would only consider having a business partner in the future if 100% of their focus was on the customer and the good or service provided.
The bottom line is; don’t allow yourself to get so wrapped up into something or someone that you become ok with being used or taken advantage of. Also, when you know someone is wrapped up or invested in you, don’t do it to them, because you never know when they’ll be gone for good.