ExchangeEveryDay Past Issues

SURVIVING TIGHT TIMES EMOTIONALLY

In the Exchange article "Surviving Tight Times: What to Do When the Money Runs Out," (Child Care Information Exchange, January, 2002), Roger Neugebauer talks about the emotional challenges of managing an organization experiencing financial difficulties:

"Tight times cause more than a financial strain. Eventually they cause excruciating emotional and physical strain for the leaders of the organization.

"Al Masini has observed that nothing raises the energy reservoir like success and nothing depletes it like failure. Working hard on a venture that is taking off is exhilarating, but slaving away on a venture mired in red ink is enervating.

"Worrying about money for weeks on end is mentally and socially taxing. After awhile you eat, sleep, and drink cash flow. All you can think or talk about is whether you can meet the payroll on Friday. You end up being a not very fun person to be around.

"Having creditors insult you, swear at you, and threaten you gets to be a drag. Friendships turn sour as you fall behind on financial obligations. As Orson Welles remarked, 'When you're down and out, something always turns up -- and it's usually the noses of your friends.'

"What often determines whether an organization survives a financial crisis is the tenacity of the persons at the top -- their ability to endure all the strain and work effectively toward a solution. Actress Helen Hayes once commented that talent and ability are not enough: 'Nothing is any good without endurance.'"