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Any project in the world has a meeting like this. The most senior person says: “I think this is an excellent opportunity.” Suddenly, everyone discovers they think so too. Extraordinary. Twenty minutes earlier, the project looked like a hostage note. Now it’s “a compelling investment proposition.” The spreadsheet hasn’t changed. The boss has spoken. 1961 During the planning of the Bay of Pigs invasion Presidential adviser Arthur Schlesinger had serious reservations. He put objections in writing. But during the crucial discussions, he held back. Afterwards, he bitterly regretted not speaking up more forcefully. The invasion failed. A disaster for Kennedy’s administration when disasters were called that way by everyone… not just like Iran. Now, your next meeting probably won’t involve invading Cuba. But you may recognise the atmosphere. The CEO likes the project. The Bid Director wants to win. The Chairman somewhere in another continent has already mentioned it at dinner. And you’ve spotted a small problem. The proposed risk allocation assumes your subcontractor is immortal. And the base case only works if traffic grows faster than the national rabbit population’s ability to reproduce. You look around. Nobody says anything. So you decide to be “commercial.” “Pragmatic.” “A team player.” Six months later… the meeting where everyone explains that they always had concerns. Amazing. An entire room of prophets. All suffering from temporary muteness. If you lead the meeting, this should worry you even more. Because the people nodding may be agreeing with your authority rather than your analysis. The minutes will record approval. They won’t record that three people were terrified of annoying you. Wonderful. Before you announce your preferred answer, ask: What are we choosing to believe rather than verify?” Then let people answer. These and other tricks are in the course below: ​The TOP 10 Errors During Meetings That Kill Your PPP Deal​ You can have excellent advisers, experienced executives and a room full of impressive CVs. And still leave with a terrible decision. Buy the course before your next important meeting. It’s easier to spot the mistake while you can still interrupt it. ​The TOP 10 Errors During Meetings That Kill Your PPP Deal​ P.S. If everyone agrees with you all the time, congratulations. You’re either a genius or their employer. PD 1: If you liked this email, don't keep it in secret and forward it to a friend. They will thank you enormously one day. PD 2: If somebody has sent you this email and you want to receive emails like this yourself, visit vicentevalencia.com PD 3: If you want unsubscribe, click the link below. |
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The story about King Xerxes is fascinating, and you should know it. Look. Some clients send an angry email when infrastructure fails. Others call their lawyers. King Xerxes had even a more ambitious escalation procedure. He whipped the sea. Yes. Apparently, the King was very ambitious, in general. He had bridges built across the Hellespont so his Persian army could cross into Europe. Until here… All good. The issue is that a storm destroyed the bridges. At the time, they did not have ACONEX...
There is a beautiful moment in every project. The green dashboard. That’s where all bosses and politicians that never came to visit start to get excited. The speeches are ready. Everyone important has found a clean high-vis vest. Even new boots… yes, now that there is no mood. Then somebody makes the unreasonable decision to use the infrastructure. Welcome to Heathrow Terminal 5. 27 March 2008. £4.3 billion. On time. Within budget. The sort of numbers that make a Board presentation...
Ah… Time flies and PPPs finally arrive to the end… like a terrible elected leader term… Getting your infrastructure back at the end of a concession sounds lovely. Like removing Pedro Sanchez from office. The debt is paid. The concessionaire leaves. You get the asset. Like collecting your car after lending it to a friend. Except your friend has had it for 25 years. And “the tyres are fine” means they are still technically round. Oups… Do you remember the terms of the return? 2018 Severn...