Several months back, times were feeling tough for me and my business. I had made lots of decisions that didn’t play out the way I wanted them to go. I bit off more than I could chew. As a way to start digging back out, I accepted some deals and offers that weren’t my typical arrangement, because I needed to do something to fix the problem I was in, and that required finding revenue – any revenue – to be able to fight another day.
The problem was this: I said yes while deep in the hurt, but the deals weren’t very good for me. Because of this, I affixed a kind of mental “chip on my shoulder” to the experience. I pretended with some part of my mind like this wasn’t going to happen at all. And then barring that, I just felt I could move through it quickly to the other side. Of course, that’s not how it went down. Suffice to say, no one was all that pleased with the results, least of all me.
Don’t Take a Bad Deal
Barring impending homelessness or a rush to get a kid an operation paid for, there’s probably no great time to take a deal that you don’t want. Regret is a really tricky emotion. It breeds all kinds of other emotions that aren’t very useful. It brings up contempt and generally doesn’t put you in a good state.
What I Learned
What I took away from that experience was something much larger than the sting of realizing my mistake. I learned that I would rather not compromise my business for any short term benefit, because it never translates into a better product in the longer term. I learned that I must stick to my plan, lest I deliver a less-than-quality experience to my buyer. I learned that I have much more work to do in the coming months to make sure I never take a bad deal again.
Look for The Right Fit
The key word is “settling.” Never settle. Compromise is a term that is often used by mistake when one means that they are going to take something less than wonderful. There’s a bit of thinking that has to go into that.
Will you take the new job, even if there’s a pay cut? Yes, if the new job positions you for a better chance at success in the longer term. Should you sit by and let someone else take that job you tried out for but didn’t get? I’d say it depends on what was said to you, whether you can jump ship and go somewhere else, and whether you really felt ready for the job.
Should you let your prospective buyer haggle on price? Oh, that’s a whole other story, my friend. One that I’m going to share with people who subscribe to my free newsletter. That information goes out in a few days. Want it? (Won’t be available after March 3rd, 2012.)
What do you think? How are you with bad deals? Taken any lately?