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Why is it that committing to due diligence is so much easier in business than in your personal life? Before embarking on any type of business venture I spend time evaluating and going through the due diligence process to determine if it is worthy of my time and energy.
Somehow though, I manage to forget this process when it comes to my personal life. Whether planning for a trip, renovating a home, or preparing to host an event, I never seem to be as together as I am with my business. So, in the spirit of the season, I have vowed to stick to my plan and make no decisions without following my 6-step due diligence plan for my personal life. (if you’d like to see my actual due diligence report for business ventures please sign up for my ezine to the right of this post to receive a free copy!)
- Begin by outlining your strategy for accomplishing the task on paper. Proudly present your strategy to the rest of the family only to spend the next hour listening to everyone argue over minute details. Complete final plan.
- Find the key players (travel agency, contractor, caterer, etc.) and research them. Look online for reviews and/or complaints on the web. Call 3-4 of each to conduct an initial interview by phone. Schedule in-person meetings to get a feel for the companies (note: this is rarely possible with a travel agent and if you find one that will drive to your home to get your business skip all other steps and plan your trip!).
- Rearrange your schedule due to companies that have called to reschedule, cancel or just didn’t show up. Return to step 2 and start over.
- Finally manage to interview 3 companies and narrow it down quickly to 2 when the third shows up to the appointment late.
- Review quotes from the remaining two companies and find yourself completely blown away! You had no idea a cruise/updated bathroom/platter of chicken could be so expensive! Tweet about how you’re being ripped off only to receive retweets informing you that these are indeed the going prices these days.
- Open a bottle of wine and slowly become numb to the entire process. Once slightly tipsy play eenie-meenie-miney-moe with the two estimates and choose the one you’ll be going with. Buy more wine – you’ll need it to get through the actual planning and execution of the event!
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