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What's Your Hurry?

Don't rush into a deal you might regret. Slow down, step back and climb high to get the big picture first.

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This story appears in the April 2004 issue of Entrepreneur. Subscribe »

Like a fire, a deal can start in many ways. You may have a problem to solve, money to invest, expertise to sell or an empire to build. Whether you're looking for it, or it's looking for you; and no matter how exciting, scary, aggravating and wonderful it seems, there's one thing you must always do first: Slow down, and think about what you're doing!

This may seem trite. But when a deal seems right, there is a natural tendency to jump in too fast, even for the most experienced deal-maker. And when a deal is wrong, your sleazier opponents will rush you mercilessly, knowing full well that your second thought could be their third strike. In deal-making, haste leaves big waste all around the bargaining table. There is no person on the planet who has not made a deal too quickly and later lived to regret it. I guarantee it.

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