Investing In Others - Part 2

Let's continue our conversation.....

Investing in other people can be risky.

Now there's a thought that likely creates reluctance.   Let’s face it, if you put your judgment and reputation on the line and the person fails, it reflects poorly on you, right? Well…not as much as you might think. Look, I’ve hired a busload of people in my time that I regretted later on. And once I fired those people, I looked back and thought, “Jeez, why did I hire them in the first place?” 

What if I beat myself up over every bad hire, I'm pretty sure I wouldn't have a single tooth in my head. 

We invest in others with good reason. We see something that we feel will pay dividends—both for them and for us. And, we go into a mutually beneficial relationship based on that feeling. So, we should stay away from investment fright, because investing pays more than it costs. Even if the person turns out to be a bust, you’ll learn a life lesson and you’ll be smarter next time around. 

But, we also have to understand that we can’t take everyone under our wing. That takes far too much time and it’s just not necessary. Not every promising person we come into contact with needs that much attention. Keeping this in mind, I believe there are three ways to invest in others:

1. Do something good.
2. Say something good.
3. Cause something good.

We’re only going to talk about the first of these today because it’s the toughest. By doing something good, I mean taking the person under your wing, making them a protégé. Investing in a person in this way can be extremely rewarding, but it can also teach some heartbreaking life lessons.

Years ago when I was first starting out in business and had only a few people on-staff that I could count on. I made a decision to invest in an old high school friend who was down on his luck.

I invested in him because I saw potential in him. He could read customers. He could talk to them articulately and intelligently. He had leadership skills. He could assess situations and see immediately what needed to be done and who should do it. On the surface he seemed like a potential powerhouse who could take over the office when I was gone.

My friend had one little problem—he was serving a jail probation sentence. Now, the fact that he was in jail didn’t mean anything to me. People make mistakes all the time. So, I went to bat for him so that he could work during his probation sentence. I knew at the time I was taking a huge risk but felt compelled to help my friend as I truly believed in my heart that he was a good person who made a bad decision.   

I’m sad to say that once his 90-day probation was over, my friend changed.  It wasn’t long before I realized that my friend was stealing both time and money from me.  I had no choice but to sever the relationship and take my lumps.

I say all that to say this: Know your investment before you take it on. You wouldn’t just open the paper and blindly select a stock to invest all of your money in. And your time and effort is worth more than any amount of money! You need someone who’s trustworthy, someone who’ll listen and learn. It’s not just on-the-job training. You’re imparting your knowledge, your work ethic, and your philosophy. Being a mentor is a huge job, but it also pays huge dividends. If you do it right, you’ll have a lifelong ally in your protégé—someone who will lend you a helping hand the next time you need it.

Even though my 'do something good' attitude didn't work out, i still believe in this principle and yes, from time to time, I learn another lesson.

Until next time, I resolve to seek progress everyday, will you join me?