No matter if it’s brick and mortar or online, value added propositions remain a consistent theme evaluated amongst business aficionados. Speaking from an entrepreneurial perspective; customers, employees and partnerships are crucial in order to create improvement for all those aligned with the business’s mission statement, i.e. the company’s purpose of existence.
Not all partnerships, vendors, employees and customers are suitable to reach the overall goal, thus leaving the decision-makers dazed, as if he/she has received a blow to the head needing to determine who, when, and what to let go.
FAANG (Facebook, Amazon, Apple, Netflix, and Google) stocks pre-Covid were and still are hot equity picks for many investors. Many received their recommendations from their broker or financial adviser, and if they chose to hold on during the turbulent Coronavirus stock market plunge, they are more than likely in possession of more money than what they initially invested. Simply put, during Covid and after, we still use Facebook and Instagram to keep up with family and friends; orders will continue to get dropped off at our front door by Amazon that we purchased via our Apple phone, while watching a recommended Netflix series from a close companion; and lastly if anything comes up we do not understand, we Google it. I have yet to hear anyone say, ‘Yahoo it.’
With that being said, what are the things in life that have plummeted pre and post this pandemic that may need a reset, re-balance or maybe time to be a decision-maker and take the loss? Why keep holding on to an investment when it’s clear the company is showing you they do not want to make a change for the future?
Although being direct is not recommended in our current society’s fabric, euphemisms are blurry and they leave many in a drunken stupor. For this moment, let’s take it back to the good ol’ days where no translator was needed. Like a business, each individual has a purpose for existence. ‘Some well defined and some in process, but nevertheless, trust you me – there is a reason why we have been created. Each friend, vocation, hobby, habit, or support we choose in our lives, we pick for a reason ‘ they bolster our own personal mission statement. In any event, the saying still remains undefeated, “Show me your friends and I will show you your future.” “We are the sum of the 5 people we hangout with.”
As we continue post-Covid, re-balancing the portfolio of life and friendships is a must. Do like many investors have done, make the decision to let go of the stocks (persons, places, things) that are nosediving and re-evaluate what’s worth holding on to and what’s not; Pregnant Pause – don’t throw the baby out with the bath water.