My flight’s landing into McCarran International Airport in Las Vegas last week was aborted at the last minute.
Not an oxygen-mask-deploying, Denzel-Washington-piloting, grown-men-sobbing (hey, I never said I was brave) abort, but scary all the same.
We were coming in for what seemed like a normal landing on a beautiful, clear day.
Suddenly, with the runway already visible, the plane abruptly changed its mind and steeply banked upward for several minutes, going back up through the clouds.
We eventually leveled off, circled around and landed normally.
As the pilot later explained, there was another plane on the ground that had not quite cleared the runway in time and so he was required to pull up and try it again.
Rules are important. Not arbitrary rules, but rules that matter.
The trick, of course, and particularly if you own your own company, is distinguishing between the two.
Unlike when you’re an employee, where they literally hand you a manual of guidelines on your first day of work, there are few things regarding work as a solo that are written in stone.
Pay your taxes; don’t cheat people; no running with scissors. After that, it’s pretty much wide open.
Do you need a business plan? Lots of people say yes; I’ve never had one.
Should you charge a fee when you refer business to somebody else? It’s your call.
Do you give away free advice to those who want to “buy you coffee and pick your brain?” And, if so, how much and under what circumstances?
The list goes on and on.
All that said, there is one rule that I strongly suggest you follow: Develop a list of rules that you follow.
Not other people’s rules – your rules.
Policies and principles that govern the way you work, particularly as it relates to interactions with other people and companies.
It need not be fancy. Just take out a piece of paper and start writing (click here for some examples, courtesy of past participants in my Marketing Nuts and Bolts Course).
Why bother? I can think of at least two reasons:
- It will help you think clearly when you’re not thinking clearly.
Let’s say, for example, that you prefer to get a deposit, up front, before beginning work with a new client. You’ve been burned before by nonpayment and you don’t want it to happen again.
But it’s been a slow couple of months and you’re feeling kind of desperate. A company shows up and wants to hire you, but … they’d like to start right away and pay you “in about a month.”
Depending on your frame of mind, you may agree, even though your more rational self knows that it probably won’t end well.
If, however, you’ve got a rule – a written policy – that says, “I require a 50% deposit up front for any work with a new client,” you’ll find it much (as in, waaaaay) easier to stand by it, regardless of how the wind is blowing in your brain on that particular day.
- It will make you powerful.
“Clients pay us, so we should do whatever they say, whenever and however they want it done, right?”
Wrong. In fact I’m pretty sure what you just described is a thing known as “a job.” (ewww)
You don’t have a job; you have a business, a profession, an expertise that they need.
Believe me, if your clients could solve their problems without going outside the company, they would. It’s easier and less expensive. When they come to you, it’s because they can’t do it themselves.
That’s an important insight (which is why I shared it with you). They’re not doing you a favor by hiring you – it’s an even exchange. Their money in exchange for the value you provide. Everybody wins.
But that’s easy to forget. Especially, again, when things don’t appear to be going so well with your business. That’s where your list of rules comes in.
You get to make them up; you get to put them in place; you get to decide who you’re going to work with and how. And … who you’re going to walk away from. Like I said, powerful.
Here’s the bottom line. You don’t need a single client or a day’s worth of experience as a business owner to decide how and under what conditions your company is going to work.
But until you take the time to make some rules, somebody else is going to make them for you.
How about you? What are your rules of engagement? Share your favorites with us below.
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