Someone asked me if I were given a million dollars to figure out the ideal path to success, what would that look like? A plan, on paper. Write down what someone would have to do every day to be successful.
An interesting thought exercise, but the outcome would not be especially useful as what one person should do to be successful is so specific as to who they are, their goals, their industry, and their definition of success.
I thought about it and determined that a plan for success is really encapsulated in three words:
Plan
Act
Adapt
(Repeat)
As simple, logical and obvious as that sounds, it is surprising how often would-be entrepreneurs, and even experienced businesspeople, do not follow that process.
A number of businesses fail because people act without planning. Just search on “restaurant failure” and you’ll find many lists of why restaurants fail, most of which are tied to poor planning.
Many more businesses fail because they act, and when the plan doesn’t seem to work, they fail to adapt. Witness the way the rise of technology impacted many businesses, such as entertainment and retail, that failed to adapt.
Finally, there are people who are so focused on making the “right” decision that they never act. They get caught in the infinite potential of options and outcomes and become paralyzed. It was once said that “anxiety is the dizziness of freedom.” At some point, we have to make a choice and execute.
This is no different in deal making. Salespeople who fail to plan will not meet their quota. Negotiators who can’t adapt will find themselves caught in what feels like unresolvable issues. Clients who cannot make a decision will forever be stuck in churn, and miss business opportunities.
Not exactly an epiphany, but a simple list that is essential to success in whatever you want to do.
And it didn’t cost anyone a million dollars!
(Please share your own negotiation experiences below so, together, we can improve our negotiation mastery.)
Click the “Subscribe” button above to receive a monthly tip to help you become Running The Room.
