Exit successfully before a total collapse: A business lesson from Julia and Kevin

Now, as most of you will be aware of by now, Old Taskmaster is not fond of politicians.

However, there’s a valuable business and life lesson in the federal government’s slow and painful implosion. When you need to make a decision, just ask yourself “WWJD” (What Would Julia Do?) – then make sure you do the polar opposite!

For that matter, a bracelet reading “WWRD” for “What Would Rudd Do” is an equally good substitute.

A key example – highlighted for a second time during the world’s longest election campaign – is the best way of dealing with the risk of total collapse.

In business, total collapse comes when the administrator is appointed. In government, the equivalent point is when the leader of the opposition party begins a speech on election night with: “A few minutes ago, I received a call from my opponent…”

A businessperson or investor who picks the precise moment when the value of their asset peaks and sells at that moment is deemed a success. Certainly few would want to hold an investment in a company once it finds itself in the position faded surfwear giant Billabong is currently in.

However, in the bizarro world of politics, with perhaps the sole exception of former Victorian premier Steve Bracks, most pollies will hold on to power until the bitter end. Perhaps it’s the lust for power, but they just don’t have the good sense to retire on top as a hero.

The whole spectacle is quite pathetic – and people wonder why Old Taskmaster is pessimistic of pollies.

So what would you do if your business is in the dire situation this government is in? If you found no amount of spin doctoring could win a kind word from the press, your budget was haemorrhaging dollars, your brand has been irreparably tarnished and the public has turned on you?

What if you realised you’d reached a point in your business where it’s as successful as it’s going to be – like Kevin some years ago?

Old Taskmaster says the answer is simple: Change tactics, change strategy, try to sell, then quit. In that order.

So are you sick of the soap opera of our federal government? If so, make sure you have a clear exit strategy. Don’t find yourself making the same mistakes as Labor’s leadership (past and present).

Oh, and maybe get a WWRD wristband while you’re at it.

Get it done – today!