The meeting’s location is SkyDeck Chicago!! Yes, four states are literally visible from this room! Whether the meeting’s purpose is social, financial, or strategic, the environment exudes power. The mood and mindset of all participants declare achievement. Realize that the location and the individual characters contribute to expecting enormously successful outcomes. Who would not want to experience conducting business in this room? Specifically, the reason that the location, ambience, and characters are so important is because those details are essential in creating an unforgettable story! Furthermore, any money involved with agreements during this gathering will undoubtedly be large, grandiose, and memorable. The deal’s value elevates with each character’s profile and presence. Anyone can recognize $10 million when it is written in an article. Nevertheless, it takes a special individual to spend $10,000,000 knowing that they will be fully responsible for the transaction’s outcome. Consequently, because of ego, gravitas, and reputation, the cash figures continue to rise in alignment with the characters and their reputations. Furthermore, the characters that boldly take responsibility for such enormous sums of capital better have exceptional stories that justify responsibility for such amounts.
According to the Cambridge Online Dictionary, “Realization is the action of converting an asset into cash.” Business assets come in assorted sizes, shapes, and ideas. Even intangible, great ideas can be packaged and exchanged for cash. When incremental value is created through strategic execution, or tangible transactions, then enterprises flourish. A long-haul truck full of marketable goods is obviously much more valuable than an identical, empty long-haul truck sitting at a loading dock. Realization initially establishes itself at the forefront of business needs because value can be deployed for different amounts, at different times, as well as under different circumstances. Finance theory states that a dollar today is worth more than a dollar tomorrow. Realization manifests that belief by demonstrating that earning a dollar immediately results in recognizing that currency more quickly. When human personalities and egos enter transactions, then recognizing tangible wealth sooner equates to greater emotional and financial value. Basically, more money, more quickly, is better!
Creating business deals and interactions that factor the value of time leads to higher priority transactions that aligns with generating greater returns. Consequently, human involvement in transactions facilitating the ability to recognize value more quickly, in turn results in incremental wealth for involved individuals and entities. Whether looking reputationally, financially, or egotistically, realizing value quicker yields more money! Furthermore, business leaders that are adept at achieving quicker closure in transactions, ultimately create incremental value that slower transactions forfeit. Speed and judgment matters. The opportunities that generate cash more quickly, in the long run create better returns for their efforts. Realization must be factored into the negotiated and ego-based calculus because the business professional that uses time efficiently, while generating greater values more effectively, ultimately secures more cash to enjoy personally and organizationally. To maximize such opportunities, create stories and scenarios that progress toward “yes”, fastest. Clearly, time is money!
The aforementioned process points directly to the financial impact of quick resolutions. Again, time is a factor in concluding business transactions. Equally important, rewards are recognized sooner when closure is expedited. Sustaining a consistent narrative via storytelling helps facilitate quicker understanding and consequently, quicker resolutions. “We have a deal.”, while shaking hands speaks to closure of a transaction. However, closure really does not occur until funds are exchanged and agreed expectations regarding goods and services are satisfactory. Consequently, terms must be negotiated, and agreement attained. That outcome returns attention to storytelling. What facts can the service-providing side establish and accomplish? How believable are expectations? Until satisfactory execution, uneasiness remains to a certain degree. What narrative prevents trust from eroding? Agreement and transaction take a different course until evidence and understanding reaches a certain point. Progress requires trust, so what vehicles enforce that need?
Clearly, cash and character never truly stray too far from any commercial interaction. Moreso, technology, artificial intelligence, algorithms, automated triggers are increasingly prevalent in transacting business. Nevertheless, at some point a human being introduced the algorithm, formula, or commands so that the transaction can execute quickly and logically. Speed and predictability still launch from a human introduction of logical protocols. Resolution, or agreement between two entities, still find their beginning in a human interaction that features trust. Simply put, someone programmed the computer or installed the intelligence for the technological solution. Furthermore, a human being is going to reap the reward from the technology that was intimately involved with executing the terms of the agreement. Machines may perform the necessary steps. Humans ultimately reap the financial benefits. The story benefits the individuals by communicating trust, belief and execution!
Cash for characters ultimately focuses on competing parties willingly ready to transact money for goods, services, and/ or results. The characters are the involved professionals. Their ingenuity, intelligence and acumen drive value. Whether the purchase involves goods, services, individual talent, or an invention, the sales process eventually triggers execution. And, execution dictates commercial transactions! But, the process, or individual can only perform according to instructions. Consequently, an agreement returns to storytelling in order to establish expectations, warn against potential risks, and manifest fulfilling happy endings that result from successful transactions. Effective storytelling establishes the positive expectation and communicates the transaction’s jubilant completion. Success depends on clearly articulating the value and delivering to that expectation, if not beyond it. Winning businesses deploy characters that can deliver. Yet, people who effectively convey the story that features expectations, fulfillment, and satisfaction are equally important. Effectively deploy both realization and resolution, so that both financial outcomes and operating execution results in consistent business success. Be certain in selecting the right character for every job, interaction and transaction. Pay close attention to what characters are involved and what they are doing, because the money matters.
By Glenn W Hunter
Managing Director, Hunter And Beyond, LLC
Author of “Storytelling Wins The Best Engagements“