A Starbucks store is seen in Jinan, East China’s Shandong province, March 28, 2023.
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When you make a mistake in this business you can do one of two things: You can cut your losses and move on or you can stand your ground while rethinking where it went wrong.
I am on the fence about which one is better, but it’s easy to see why the first approach — aligned with the idea that “your first loss is your best loss” — makes more sense than the latter, more cerebral tact. That’s because cerebral in this business is often nothing more than a crutch leaned on out of fear. The fear is of ultimately being right, but no longer being involved.
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