The Holy Grail of Business: Insurance for Business Decisions

As a business consultant and business college teacher, it sometimes seems as if business owners/officers are constantly seeking to find information and make the best decisions so as to do two things:

reduce our risk of diminishing profits and increase our profits.

While a philosopher said it well decades ago, to think of nothing but profits must be a very limited occupation. "Get out and small the roses" must have followed his idea that myopia follows the strict focus on profits. I do not easily disagree.

Regardless, while I am not disinterested in the world outside of my profits quest, I must do those things that generate a greater profit so that I may expand my firm, hire more people and benefit society or a "Young up-start will gladly do the Robin Hood thing and help separate my purse from my person.

While I seek to hire, buy resale goods and useable materials and pay other overhead to make my firm grow, each of these countless decisions requires perspectives, gut instincts and reviews of past historical activity which includes decisions that generated results that caused 'X' profits and other decisions that generated both losses and break-even results.

I think the Hold Grail of business might be, then, the ability to spread out my risk of making poor decisions compared to making decisions that I know will lead to profits.

While that might sound like good and "Less effective?" decisions might well be almost perfectly intermingled and look almost identical, there are differences in components of good decisions and "Less effective" [Poor?] decisions. We can try to analyze what decisions are and which ones must be made to conduct business. Inevitably, we absolutely must learn how to recognize, shall we say, superior decisions from weak decisions. If we make an "Excessive" number of weak decisions, it is understood that, if our timing is not "Good", we may run into a situation where we won't have time or the resources to make a good decision which will make up for a Poor decision.