Lucky and unlucky

Dan Rainey remembers things he wished he knew when he started out

6. You will be lucky and unlucky -In the fullness of time, you will be assuredly lucky and unlucky. And sometimes, things that appear to be bad luck will turn out to be good — the weak salesperson who turned down your job offer — or vice versa. You will have ups and downs, and you will win or lose things that you don’t deserve to win or lose. You will be unlucky and lucky, you just may never know when.

7. Avoid the myth and misery of sunk cost – See the item above about succeeding quickly. Don’t chain yourself to the anchors you lovingly create in pursuit of success. If it isn’t working for you or the business, let it go. Understand that it isn’t good money after bad money, it is all bad money. Fire that salesperson, let that manager go, stop selling that product, get used to moving on. You’ll make a lot of decisions in running a business. Accept that not all of them will be right.

8. Fill the pipe, always fill the pipe – The difference between good times and bad times is often reflected in how many of the opportunities, customers, etc. end up closing successfully. In good times, more deals close from a normal opportunity pipeline. In bad times, less deals close from the pipeline. So, fill the pipeline of opportunities, and always look to add to the pipeline. Deals don’t close for a million reasons. Your only defense is to fill the pipe.