Don't Take The Deal

You have been hoping, praying and working in preparation for the opportunity that you know is coming your way. You say to yourself “If I work hard enough, I will strike a book deal,”“If my product is innovative enough, someone will buy it for millions.”  I mean, that is the point, right? We do not sacrifice time with our families, sacrifice paying bills to invest in our businesses or stay up late into the night for nothing. We are all working for that one opportunity that will catapult us to the level of success that we desire.

Well, you have heard the saying that all money is not good money and the same is true about deals. Every deal is not a good deal. It may seem like the perfect opportunity to propel your business to the next level because you will be making more money and everyone will know your name. But, if the deal requires you to sacrifice your morals or to compromise your integrity, then it is not the deal for you. If the deal causes you to be disobedient to your calling, it is not the deal for you. Do not sell your soul for money, power or fame. That is a sure way to destruction and to have that very opportunity snatched from you by someone who is willing to sacrifice a little more of their character to take it from you. Evaluate every deal utilizing these three questions:

1.      Does it line up with the overall vision for my business? – If you do not have a clear vision statement for your business, it is time for you to get one now! Vision is being able to see what lies ahead of you so there must be something in writing that guides you towards what you know lies ahead for your business. If your vision is to impact 1 million lives with your product then ask yourself “Will this deal get me closer to that goal or make it easier for me to do so?”

2.      Will this deal expand my portfolio? – I recently brokered a deal to work with a client that was sure to expand my portfolio. Once people saw me working in this area, they were sure to know that there was not anything that I could not do or plan. Unfortunately, I worked with the client for months planning events that never happened due their own decision. While I was paid for my time, it does not matter because I have nothing to show for the time I invested. I do not care if I get paid for something but have nothing to show for it. Having photos of events and client reviews is what builds my portfolio, not the payments made to me. I share this experience to tell you to evaluate every single deal to determine if it will bring you more business. The goal is to turn one client into five. If it does not create more business for you or make it easier to get more clients, then leave it alone. Your time and energy have value as well.

3.      How many people will this deal positively impact? At the end of the day, if the work that you do does not impact any lives then what are you working to accomplish? It is a fact that the more people you help, the more money you will make. So focus on the amount of people whose lives you can impact and allow the money to follow you instead of chasing it through every deal that comes your way.

When the deal is right for you, you will be at peace about it. It will be established on a firm foundation that makes sense for your life and business. Be sure to negotiate the terms of the deal. Go big or go home when it is time to talk numbers. Know your ask and don’t be afraid to step outside of your comfort zone. Happy wheeling and dealing! 

Tiffany GillespieComment