Manage Your Practice

Why Hope and Fear Drive (Stupid) Deals

July 31, 2014

I see too many deals that are hatched from the evil twins of self-inflicted human nature: fear and hope.

Fear, because those jumping into these ill-hatched arrangements believe that if they don’t take this deal, this job, this contract, another one won’t be offered to them, at least not anytime soon. Or that the other offers won’t pay as well. Or that they’ll have to move from Columbus to Cleveland. Or that, well, you fill in the blank.

As a result, they signal weakness. They forfeit all bargaining power. They simply sign on the bottom line. They sell themselves short.

And hope, because even though they know that their deal partner is untrustworthy, that he summarily terminates contracts, that he is a megalomaniac, they fool themselves into believing that he is going to love them so much that he’ll never do it to them.

They fool themselves into entering into deals that put themselves, their futures, and their families at risk.

Drop fear. There’s always a better deal down the road. Sure you may have to wait, but waiting and choosing gives you leverage.

And realize that the people you deal with generally tell you, in words or by action, who they really are. Accept it. And then just walk away. Far away.

Comment or contact me if you’d like to discuss this post.

Mark F. Weiss

www.weisspc.com

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