Preparedness vs. Time Wastefulness

Preparedness vs. Time Wastefulness

In business and in life, there exists a thin line between preparedness and time wastefulness. Let’s explore the following example: You’ve been pursuing a tenant prospect for the last 4 years with regular phone calls, periodic emails, and occasional informal meetings. You finally receive word that the CEO is willing to formally interview your team to potentially represent his company on their upcoming office project. You only have a week to prepare – what do you do?

Do you focus your resources on creating an innovative exhibit showcasing a counter-intuitive strategy? Perhaps, but what if the CEO has already considered the approach and dismissed it. Maybe it’s a risk you’re willing to take or maybe it’s better to focus on safer, more conservative/boiler plate materials.

A version of this tension is present in nearly all our decisions. Time is the one truly nonrenewable resource. It is simply the most valuable asset we have and the way we decide to deploy it needs to be carefully considered.

Returning to the real life example above, our team decided to dedicate resources to creating the innovative exhibit. Our work product, thorough analysis and methodical approach that were reflected in the exhibit were a major factor in the CEO’s ultimate decision to hire us. At least in this case, preparedness was able to declare victory over time wastefulness.

Additional thoughts? Comment below or email me at gmarans@savills-studley.com

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