Why a Friend Shouldn’t Run Your Business
The Perpetual Change Recycling Plant in Tennessee holds contracts with several municipalities in the area, but it’s losing money every month despite more than $20 million a year in revenue.
The problem started when the owner, Ray, began delegating more control to the general manager, a trusted friend who in the past showed himself to be quite competent. Ray figured he’d worked hard his whole life and now it was time to switch to retirement and enjoy the fruits of his many years in business. After all, the recycling business was growing, Perpetual Change was the only recycling plant in the area, and it was running so smoothly that it no longer required his hands-on leadership. Or so Ray thought. Read full story:
