Measure twice, cut once

Today I want to talk to you about a wise old adage “Measure twice, cut once”, a lesson my father taught me when I was a boy. Even though it is used a lot in carpentry it has applications in different aspects of our lives, including in our businesses. The literal message means that we should double-check one's measurements for accuracy before cutting a piece of wood; otherwise it may require of us to cut again, wasting time and material. Figuratively it means that lack of planning can lead to mistakes.

In today's environment we want everything fast and accurate. People do not want to take time to plan. We want to shoot first and then we see where the bullet hits. We want to open the "business" before we develop the idea. We want someone to invest in our "business" before we have finished the concept. However, to reach your goals your decisions should be based on sound data. 

The four words of the carpenter’s adage “Measure twice. Cut once” expresses a universal truth about the importance of planning before reaching the point of no return. I wonder how many in the construction industry actually follow this advice. For example, now is the time to plan for your  2012 tax year and determining what can be done to minimize your tax liability. The time to evaluate  the legal and tax consequences of a transaction is before you take the action and not after. Many  times people try to save a few hundred dollars in planning to spend a few thousands in fixing the  mistake. They spend hours later trying to justify what they did and develop schemes to cover their blunders.

In difficult economic times, many are tempted to skip due diligence and take those second measurements
to save a few minutes and a few dollars. Many take their chances, If “the cut” is correct, there are savings. However, if the cut is wrong, the amount of the loss does not compare to the effort  and expense of making it right. In other words what is being done is gambling. The risk far exceeds the reward.

Remember, it’s faster to double-check than to make a mistake.