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Commercial imperative: Difference between revisions
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X is made of three components: | X is made of three components: | ||
*'''Historical X''': “Historical X” is the benefit you have ''already'' extracted from this {{t|contract}}. | *'''Historical X''': “Historical X” is the benefit you have ''already'' extracted from this {{t|contract}}. It will give you a comfy feeling, it will call to remind the chalet in France that you bought with it, and it may help project your expected benefit for the future, ''but for all other purposes it is meaningless''. It is in that foreign country called '''the past''. | ||
*'''Current X''': “Current X” is the as-yet-unrealised benefit you expect from transactions | *'''Current X''': “Current X” is the as-yet-unrealised benefit you expect from current transactions and those you can realistically expect during the no-fault [[notice period]]<ref>Being the earliest point at which your counterparty could freely terminate its obligations under the contract.</ref> of the contract'' . Think about this as “unbilled work in progress”. This is a benefit you can safely say you ''will'' earn, but have not yet. It is exciting — you can almost touch it! — but, compared with Future X, it will amount to ''bugger-all''. | ||
*'''Future X''': “Future X” is the benefit you can expect throughout the remainder of your relationship, '' | *'''Future X''': “Future X” is the benefit you can expect from contracts throughout the remainder of your relationship, ''if you both remain solvent and on good terms''.<ref>As [[Criswell]] famously said, “we are all interested in the future, for that is where you and I are going to spend the rest of our lives.”</ref> Future X is much less ''certain'', but it is ''much bigger''. Future X is the golden prize. It is why you show up for work. It is your unrealised potential. You should be focused on Future X at every moment of every day. | ||
===You are [[short an option]] on Future X=== | ===You are [[short an option]] on Future X=== | ||
Now. Look at the prospects for each type of X. | Now. Look at the prospects for each type of X. | ||
Why are you [[short an option]]? Because ''you are not entitled to Future X''. You have to persuade your client to give it to you. You cannot stop | Historical X is in the bank, and probably spent. Thanks for the memories. | ||
Current X, meagre though it is, is as good as being in the bank. | |||
''But you are [[short an option]] on Future X.'' | |||
Why are you [[short an option]]? Because ''you are not entitled to Future X''. You have to persuade your client to give it to you. Your client is free to walk away. You cannot stop your client terminating the {{t|contract}} if it wants to. It could give all that lovely, juicy Future X to ''someone else''. | |||
Since Future X is so much bigger than Current X, ''you should apply every fibre of your being to giving your client no earthly reason to take its business elsewhere''. | |||
Your future prospects depend on the continued performance of your contracts.<ref>Just what to do about [[stale contract]]s, and where the parties have fallen out of affection for each other, is a subject for another article, but in a nutshell, ''shut them down''. They are the tail end of the 80 in your [[80:20 rule|80:20]] rule.</ref> | |||
===[[Dick move]]s=== | ===[[Dick move]]s=== | ||