In 1964, The Rolling Stones recorded and released, Time Is On My Side.
Apparently, they knew something, as they are still touring fifty years later. However, with only a few work days left in 2014, time is clearly NOT on my side. There are still holiday gifts to buy, deals to finish, commission checks to receive, and other loose ends to tie up. I am clearly feeling the crunch.
So why do I wait until the last minute when I know the clock is ticking?
The same question could be asked of tenants with upcoming lease expirations. Why wait until the last minute to make a decision? And it’s not just a decision on which building to choose. Sometimes it’s as simple as the color of the carpet that causes a delay.
The implication for me is that I stay up until 1 a.m. wrapping presents, putting together toys for my kids, and writing News Funnel blog posts. Speaking of which, my blogs are supposed to be submitted on Tuesdays, which happens very rarely. The implication for tenants is a severe loss of leverage or worse, going into holdover.
Many are worried about making a decision based on information that will change. However, as one of my mentors, Art Elman, used to say, “We can only make decisions with the information we have today. If it changes tomorrow, we will adjust.”
This may sound familiar as I have written about this before. However, managing the timeline is one of the most important jobs I have. I like to think that I do a great job of this for my clients, but my time management skills for personal things isn’t always up to par.
In 2015, one of my goals will be to do a better job staying in front of my tasks, being proactive, and not waiting until the last minute.
I will also continue to encourage my clients to do the same.