Business of Affiliate Although the realization of the fact that the land in question is a habitat for an endangered lizard species will have an impact on future plans, the business impact might be more positive than negative. There will be no loss incurred because the land was actually an inherited land. Furthermore, the plan to build a summer house can be postponed and the money that had been saved up invested on a project that might bring even more income in future. The reaction would be that of disappointment but it will also generate the perception of a blessing in disguise from a business perspective.
According to the Endangered Species Act (ESA), private landowners should be compensated on the realization that their pieces of land are habitat to particular endangered species (Bean, 2010). The land in question is a private property and therefore the government will be obliged to offer compensation. The compensation offered can be used to buy another land elsewhere and either build a vacation house or turn the land into an investment. Currently, the piece of land is a liability considering that a lot of money has been saved with the aim of constructing a family vacation house.
Although the land is beautiful and is a good spot for vacation, it is rather close to working place and place of resident and this does not strike as a perfect spot for vacation considering that it is takes only two hours to drive from town to the piece of land. The ESA implies that the land can never be used for any purpose that might further endanger the existence of the already endangered species.
Therefore, building on the piece of land is out of question. However, the situation provides a good investment opportunity that might generate income to buy an even better vacation house in another good spot that is not home to an endangered species. The money that had been saved up for building the house can be saved for some rainy day or to support some future investment. According to Rose (2010), saving constitutes and important part of ensuring that one has a comfortable and secure future.
Rose goes on to outline an important aspect in business; instead of spending two weeks on a vacation and have an good experience, one can spend one week and still have the same experience. In essence, instead of constructing a vacation house on an inherited piece of land one can turn the sam piece of land into an investment. The money from the compensation can either be invested in mutual funds or some promising stocks until a solid investment idea comes up. Investing is not very easy and it requires one to conduct a lot of background research before pumping money into the investment.
One needs to be conversant with the risks and challenges involved as well as the expected profits within a given time frame. Rose advises that one should always be on the look out for investment opportunities in order to foster finacial growth. However, it is also important to have some capital somewhere so that when an opportunity presents itself it can be easy to grab the opportunity. Although the declaration of environmentalists that no construction can take place in the land might seem as a disappointment, it could also be an opportunity to think of investing and perhaps turn the inheritance into a solid source of income.
Instead of spending time with regrets one can look at the brighter side of the situation. References Bean, M. J. (2010). Endangered Species Act: Law, Policy and Perspectives. New York: American Bar Association. Rose, J. (2010). Seeking the Edge: Thoughts on Wisdom and Success. New York: iUniverse.