When You're Hit with A Loss Do You Seek the Closest Exit?

Today's issue of WWD features this article, "A Painful Period: Write-downs Drive Liz Claiborne to $435M Loss". It's a lesson in loosing and achieving your goals. The article explains how Liz Claiborne company loss $435M last quarter. Wow! That's definitely a blow! How do you recover from that? It seems as though their leadership has a plan in place to put the company back on track. It was encouraging to read that their leadership realizes that nothing happens overnight.

"We realize we have a lot to do, that it can't be done overnight, and we are focused on meeting our targets over a three-year period."

They had some brands that weren't doing well, they made some restructuring adjustments and it seems as though they are confident and excited about moving forward. Being in business creates all sorts of challenges. It's up to the leadership of the company to seek new profit making ideas. It's a creative position to be in. It's never static because, you're always striving to be the best even when losses are so severe. We can use this as an example in our own lives weather we are in business or not. Do you evaluate your goals on a regular basis and make amendments if necessary? Now's the time to start evaluating and taking control of the situation weather you're in a favorable position or not, there's always room for improvement. It all starts from a confident, clear objective and accomplishing goals one by one on your "To Do List".

Article is archived at WWD.