Friday, 22 June 2007

Lesson #7: Never leave loose ends.



How many people do you know say, 'Let's just sign the paperwork and we will get all the other stuff sorted out at a later date!'?

Here is something I find really strange. Why on earth would anyone, if they are in their right mind, allow you to lock them into a contract that at a later date may change?

Would you want to be signing a piece of paper that would be either worthless, or worse, turn out to be even more costly to you and have deep implications into your business or wealth at a later date?

No, is the answer, so...

Lesson #7: Never leave loose ends.

My mentor, Ari Onassis, would always tie up all the loose ends of a contract at the very start. It is like my lesson 'kill the monster early'. If you do all the finer details at the start then there can be no questions later, and no problems either. Nor can there be any costly surprises.

I have a phrase that I have used on many occasions in training and in my own life and it serves me in good stead. Every time I have negotiated a contract I have thought of it and I have worked by it, and it is this:

"If you tie up all the loose ends at the start they will never become undone. If you leave the loose ends undone at the start, they will remain undone and you will never, ever, be able to tie them. What's more, they will become very expensive!"

Coming soon... Lesson #8: You only need one golden apple!

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