Learn how to take losses quickly and cleanly. Don’t expect to be right all the time. If you have made a mistake, cut your losses as quickly as possible.
October 21, 2013
The other night I entered a Cheesecake Factory restaurant and found myself smiling to no one in particular as my mind drifted back to over twenty years ago. I recalled sitting at the Prime Rib in Baltimore with David Overton, founder of The Cheesecake Factory restaurant chain, and his Chief Financial Officer Bill Kling. We had a large...