"The greatest mistake you can make in life is to be continually fearing you will make one."
Elbert Hubbard

LET YOUR GREAT PEOPLE MAKE MISTAKES

CL and I were talking about GN. I had said that I thought he had great potential and could play a major role in her company.

"Yes, but he's got a lot to learn about marketing," she said. "We are always arguing about how to price and position products."

She gave me an example. GN wanted to charge $1,700 for a service CL figured was worth $1,000. I figured CL was right.

"So what did you do about it?"

"What would you have done?" she asked.

"I'd have given him enough string to hang himself. Let him learn on his own," I told her.

"That's just what I did," she said.

Almost. What she had done was tell him he could market the product at the price he wanted -- but that if he didn't hit a certain target by a certain date, she'd change the pricing.

I told CL I thought her solution missed the mark.

"The problem you have now," I said, "is that if he fails to hit the target you set, he'll believe the target was unrealistic. He'll still believe he was right about the pricing and will resent you for changing the price when you do."

It would have been better, I suggested, had she offered to test his price against hers. "Maybe you are right," I would have told him, "but in case you are not, let's test my price against yours and see what happens." That would have given us all a chance to better understand the marketplace.

When you are dealing with top talent -- grooming them to take on major responsibility -- the last thing you want to do is dictate their decisions. Decision-making is certainly the most common and most-important quality you want in your top people -- and you don't want to stifle it when you have the chance to improve it.

There's nothing that sharpens a smart person's decision-making ability faster than failure.

But now, that's not going to happen.

If it turns out that CL and I were right, we will not have to worry about GN anymore. He'll never forget his humiliation and will forever be afraid to "fly" on his own. If it turns out he was right, CL and I will have missed a valuable opportunity. Either way, we all lose.

The only way for everyone to win is to give your heir apparent the chance to fail.

Share Early to Rise with a friend.

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TODAY'S ACTION PLAN:

Get up early tomorrow.

It may not be something you'll want to do always, but every now and then it's a good idea to get up early on Saturday or Sunday -- at least an hour before the rest of the family -- and spend some time thinking about priorities in your personal life.

Another good use of that extra time is to plan something fun and unexpected -- some sort of family event (a game, a trip, or the like) you could surprise them with.

Early time can also be devoted to some personal goal, such as writing, painting, or stamp collecting, for example. The trick is to finish what you're doing before the rest of the family wakes up.

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HOW TO BE BETTER AT WHAT YOU DO BY WORKING HARDER INSTEAD OF LONGER

In "How to Become CEO", Jeffrey J. Fox says, "Most people in business never really work hard. They manufacture a busy look by bustle and busywork. They read reports, go to meetings, write long-winded memos, fill out forms, and waste time. This is the 'rocking-chair syndrome' -- lots of movement but they're not going anywhere."

I completely agree. Hard workers are rare. Hard workers often work longer hours than slackers, but they sometimes don't. What really distinguishes hard workers is the way they work.

Working hard means:

* doing the important work first, even if it's more difficult

* selling and marketing when you'd rather be talking and planning

* cutting out extra expenses even when it is emotionally painful

* saying the unpopular thing because it needs to be said

* bugging people who are moving too slowly

* firing people who are not working out

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FIVE WAYS TO PUT MORE QUALITY IN YOUR DAYS

Robert K. Cooper's "The Other 90%", is a book I recommend to you. On page 124, he suggests seven ways of living better. ("Living" is used here in the sense Emerson meant when he said, "We're always getting ready to live but never living.") Of the seven, I like these five:

1. Call home at key times.
2. Come home first in mind and heart.
3. Change the way you walk through the door.
4. Get up and move after supper.
5. Remember the funniest thing that happened during the day.

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IT'S GOOD TO KNOW: ABOUT PLAYING CARDS

Based on historical research, scholars say it isn't true -- but traditionally, figures on the face cards (jacks, queens, kings) have been associated with real people. For example, the King of Hearts supposedly represents Charlemagne … the King of Spades, King David … the King of Diamonds, Julius Caesar … and the King of Clubs, Alexander the Great.

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WORD TO THE WISE: NAUSEATED VS. NAUSEOUS

"Nauseous" (NAW-shus) means causing either sickness to the stomach or a feeling of disgust. "Nauseated" (NAW-zee-ay-tid) is how you feel when you think you're going to throw up. You don't get nauseous; you get nauseated. If you say, "I'm nauseous," you're saying that you make people want to vomit.

Avoid this common mistake.

MMF

Copyright ETR, LLC, 2003

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