CapitalQ Fast Business – Edition #001 “In business you MUST do what you said you would”

Transcript

Hi folks Duncan here from CapitalQ so look hopefully those of you that are already members of the CapitalQ Community you know that we’ve been working super hard to try and increase our content for you in particular free content for you

That includes I’ve got a copy here our latest initiative the Q review magazine

If you haven’t seen it if you haven’t or if you aren’t a Community Member at the moment and wasn’t sent one you can request a free copy on capitalq.com.au we’ll send your both a PDF version and this printed version I think the printed version is definitely best way to go if you want to absorb the material

But so in terms of wanting to try and create more content for you guys one of the things on the radar has been some short sharp probably low production videos a bit like this and so look I’ve just decided in the last 10 minutes I’d have a crack at making that a reality and get underway with the first one

And the reason why I’ve just all of a sudden decided to do that is because of something that’s happened to me or occurred in business over the last two weeks and it’s pretty much just come to a head today

And so basically I wanted to talk to you about the importance of doing what you said you would do in business and in life but in particular in business

If you say you’re going to do something you absolutely must follow through if you want to build and maintain trust and credibility and if you want to have any real chance of real business success

I know we’ve all heard of this before this isn’t something new and I’m not saying that I’ve never broken this rule either I absolutely have and I’ve probably learnt the hard way but I have learned that once I say I’m going to do something I absolutely have to do it

Of course I’m sure you’ve probably seen I think Warren Buffett talks about it in his documentary I think Charlie Munger talks about it in some of his speeches that are referenced in his book Poor Charlie’s Almanac I know Dan Kennedy someone who I read a lot and follow his thinking he talks about it he talks about in his time management book in relation to being showing up on time and how important it is and he talks about how people who are successful in business and the people that you want to build a relationship with and you want to interact with going forward in your business and in your endeavours they know how important this is how important it is if somebody does what they said they would do including showing up on time and they know that even the small things are super important that if someone can’t do the small things such as showing up on time such as coming through with a little bit of information that they said they would if they can’t do those small things if you can’t rely on them for that then you absolutely cannot rely on them for anything that’s much bigger and much more important and successful people they just won’t you let them down once that’s it they’ll let you down well they know you’re gonna let them down again in the future and so they just won’t proceed with you

And so this has happened to meet just over the last two weeks I’ve had someone who I have a lot of time for I respect and I came up with a proposition that would help him and his business and it would also help us and we met and he was super keen there was two components to what I was able to bring for him so one in relation to CapitalQ and another in relation to another business that I know of run by a friend and so it was a great opportunity for this individual and he was all keen and he said yep he would keep up his end of the bargain and we agreed a deadline and we’re now I think we’re on the fast track to being a whole two weeks since we met and and certainly a week and a half or over a week since the deadline when he agreed to get something to me and he just hasn’t done it and you know as much as it pains me I just don’t think I’m going to be able to work with him again because he’s just clearly let me down he’s let me down on something that really wasn’t that major you know and it’s just a sign that it means I can’t trust him for something bigger

So yeah look I just wanted to bring that to your attention as I said I know we’ve all done it we’ve all made the mistake we’ve let people down we’ve said we would do things and then we’ve not and I’m certainly not saying I’m holier than thou especially on the on the showing up on time thing I know I’m guilty of falling short in that regard but learn from your mistakes my mistakes and this individual’s mistakes understand the importance of doing what you say you’d do and and make sure you come through or if you know in your heart upfront that you’re not going to be able to stick to it just tell them straight up front say no I can’t do that or no I can’t do it in the timeframe you’re requesting they will respect you so much more and even if it means they decide ok look in that case we won’t work together on this particular matter whatever it might be that’s fine they will respect you more and theres much higher likelihood they’ll come back to you for something else because you’ve been honest and upfront but if you say yep I can do it when you know you can’t or you think there’s a high chance you can’t and then you don’t come through I promise you they won’t come back.

Okay see you later