Just imagine having one of the best opportunities of your career offered to you on a silver platter only to walk away from that opportunity just 3 days before it came true.
Well, that’s exactly what happened to me earlier this month. A NY Times Best-Selling author was scheduled to speak in San Fransisco but due a serious illness he was unable to speak. When the promoter for the event contacted me to take his place it was one of the greatest privileges in my career.
As we negotiated and agreed on the terms, the promoter assured me he would sign the contract and return it to me ASAP.
When he would get the contract, he would call me and want to make a change, I would comply and resend a new contract, to which he would repeat the shady cycle. This went on for over a month. With only 3 days before the event he requested another change which pushed the deal beyond the scope of a win/win situation and clearly became a win for him and a lose for me. I informed him I would not be speaking and he could find himself another speaker.
This was gut-wrenching for me to do and you might wonder how this story can help make your business BULLETPROOF. Well here’s the part where the lesson becomes the most powerful: All too often, people are compromising their prices, standards, or ethics for the sake of earning business and in the long run, they work for a payment that costs more than they can deliver the product or service. Even in tough times, it doesn’t make any sense to cut your prices so low that you aren’t making any profit.
As much as I wanted to be able to represent this icon in the industry in the best way possible, I didn’t want to work with an unethical promoter. As much as I would have loved the income from such an event, by accepting his new terms I would have devalued myself and compromised my self-worth. While I didn’t get the paycheck, the ability to walk away from a bad deal was much more rewarding to my identity and in the long run, my profitability because to speak for a fee below what I’m worth is counter-productive to my bottom line.
So the next time you have a chance to get some business, before you accept the deal, make sure it’s a good one. You’ll feel much better walking away from a bad deal than saying yes and making little to no money or sacrificing important aspects of your identity. Remember, business should be fun!
Until next time, take care, dare to dream, and make each day an epic adventure!
I agree, without ethics and high standards there is no satisfaction in conducting business. Great to see you in London, Topher, and although it was nerve-wracking, I learned a lot from you as usual. Thanks a million.
If you are in London on 30th September, you are welcome to be our guest at the Introduction to Soul Therapy event we are running, so you can see how much Kathryn & I have learned from your seminar.
Big love xxx Ingrid