(Time to read this Blog article about 40 seconds)
General Motors has just sold off its European Division for $2.33 billion. Why? Because it has been losing about a billion dollars a year since 1999. So, the real question is, “What took them so long?” It was either ego or false hope.
They’ll now sell fewer cars, worldwide…but their bottom line will grow significantly and they’ve freed up capital to invest in more profitable ventures.
What can we all learn from this? We can learn to ‘let go’ of the divisions, products, services, facilities, customers, suppliers, outdated technologies and non-productive or toxic employees that are dragging us down and hurting our bottom line.
So, what will you do to figure out what needs ‘letting go of’ in your business? By when will you do this? Don’t wait 18 years like GM did.