When I was living in Brasil a friend and I decided to drive the coast from Sao Paulo State up to Rio De Janeiro. I am not the greatest with directions so I made sure that I talked to my cell phone provider to ensure that I would have a signal and enough data to use the GPS app. The store manager assured me that my phone would have a signal and told me that in the event that I exceeded my plan, I could text “additional data” and more data would be added. The trip was phenomenal, the scenery was great, we stopped at a beach or two, hit some amazing restaurants along the way and really enjoyed it. At about nine hours into the trip the GPS went blank. My phone had exceeded the data plan and exceeded the number of times I could text “additional data.”
With about two hours left in the trip, three things came to mind; 1) We were lost and had no idea where we were going, 2) my Brasilian friends warned me that a wrong turn could put me in a very dangerous neighborhood and 3) The store manager didn’t tell me that there was a limit to how many times I could text “additional data.” I should have done my homework and read the contract myself.
Before making a business deal, taking a job or making a significant purchase it is always wise to “do your homework.” Doing your homework is all about making sure you are prepared to be better off when this deal is all said and done.
If you are thinking about changing jobs there are several questions you should ask yourself before you make this decision. One of our clients was considering taking a new job because it paid more, but after we did some homework and asked some key questions, accepting the job was not in their best interest.
For your business or a major purchase you should be asking questions like; what is the payback? return on investment? how will this deal be financed? what does the cash flow look like? and how will this help me get closer to my real goal? We were helping a client review a very promising deal where their local power company would lease thousands of sq feet of office space from them. After reviewing the deal and asking a few questions, we found a very critical flaw which allowed our client to renegotiate and make sure the deal worked in their favor.
We can help you with the due diligence needed on your deals and decisions to make sure you are set up to win.