The delay reflex

How often are you in a management, project, or even a client meeting when everyone appears sold on an idea, but still the the result is "Let's wait..."? Sometimes it's more like, "Let's wait until..." some better set of circumstances present themselves. I'll admit, sometimes waiting is beneficial - it allows you to gather more information, explore other alternatives, or even better evaluate your needs. It definitely serves a purpose in the exloratory part of a project or decision. But, once the decision is made and everyone has weighed in, just what are you waiting for?

It could be that the person who suggested delaying is not sold, but feels that s/he doesn't have a strong enough argument against the decision. In that case, waiting is simply a means to avoid confronting the issue, and is not constructive. There may be other valid reasons that a project should be delayed - not the least of which is lack of resources at that time. However, an equally important consideration is the opportunity cost associated with delaying executing on your decision. After all, there's a reason that you embarked on this project in the first place.  

We had commissioned a research project with the Bay Street Group in which we identified common attitudes and behaviors among high performing firms summarized in a white paper, "Seven Habits of Highly Successful Firms." One of the things that high performing firms understood well was that there is an opportunity cost to delaying - in this case, technology adoption. But the same holds true no matter what the decision pertains to.

Consider this familiar scenario. You're sure that a certain investment strategy will help your client earn an eight percent return. They trust your judgment which is why they sought out your counsel. Though they like the idea, they need time to sit with it for a while, and put off moving forward on that advice. When they leave your office, you're scratching your head because they don't seem to grasp that the sooner they move forward the faster their investment starts yielding results.

You can see it when your clients display the "delay reflex." Is it as easy to recognize when it's a colleague or even yourself? We've been conditioned to always factor in the ROI of any project, but we must also calculate the opportunity cost - those are just as real…time, money, retention, competitive advantage, profitability.