I wrote on Monday on the home page of this site about taking a long term view. Well, tonight I want to provide an example that will illustrate what my usually goofy writing was trying to get across.
Jo and I spent yesterday and today in Sydney. We flew out at 6 am yesterday and got home at 7 pm tonight. The airfares came to about $650. Hire car another $220. Fuel $40. All up the costs would have been about $1,000. That's before wages, etc.
2 short meetings
Yesterday we had one meeting that went for 3 hours. Today the meeting went for about 2 hours.
$1,000 for 2 short meetings might seem excessive. And pretty hard to justify short term. But we have to look at it long term.
The client yesterday might be a long term client. I'm talking 10 years long.
The meeting today was to finalise a deal for a business we're getting involved in that, hopefully, will still be going in 20 years.
We have to look at the long term picture to ensure the continued growth of our business. These 2 meetings can help us achieve our long term vision for the business, so we do them. Not regardless of cost, but taking into account the lifetime value of the clients compared to that $1,000.
Good night.
Brendon
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