Tips & Strategies - Conflicts can be costly!
But it gets even worse when it's the other way around! Now imagine your team buys 10,000 shares of a stock at $20 and it drops to $10, frustration builds quickly. After all, you just lost $100,000!
You might have one person wanting to sell and reinvest in something else. You could have another person wanting to "ride it out", because they're sure the stock will rebound. You could have a third person saying, "I knew this was a bad idea!" while a fourth person begins pointing fingers to blame somebody.
Three minutes later, the stock is at $7 - you've lost another $30,000 while your team argued and you're still no closer to a decision!
At one event, while a team argued about whether they should sell a stock, they lost over $100,000 in value. At the closing beel, they finished in fourth place, missing third place by only $46,000. That argument cost the team a trophy!
To prevent this problem, your team should decide in advance how to resolve these issues, because they will arise.