If you've been
in business on this planet for any length of time, you've probably learned that you're not the only one who suffers from the occasional twinge of regret.
Whether or not that regret occurs as a result of paying too much or selling for too little, from saying too much or saying nothing at all, doing something or doing nothing, it doesn't really matter, does it?
The feeling is the same.
Trust me, everyone has days like these. And everyone in business experiences some of those same emotions whether they are experienced negotiators or first-time newbies.
In 1901, Andrew Carnegie allowed JP Morgan to purchase his interest in Carnegie steel for $480 million dollars. As a result of this transaction, Carnegie became the wealthiest man in the world.
A year or so later, the men met again while sailing on the same ship bound for Europe. Both men were early risers and both liked to walk the decks alone.
Each morning Carnegie would start in one direction and Morgan in the other. As they passed one another, each would respectfully tip his hat and continue silently into the morning fog.
About a week into the cruise, Carnegie hailed Morgan on their daily walk.
"I've been thinking I should have asked for $500 million" he gruffly said.
"And I would have happily paid it" replied Morgan, never missing a step.
Get the point? It's just something that you learn to live with -- or you don't.
And if you'd like to hear a bit more on the subject of regret, you might want to check out the video of Danny Devito in the Big Kahuna. It may very well be the best thing he's ever done. More importantly, it may be the best five minutes you spend today.
Apologies for the poor video quality.
*Originally posted on Capital Thinking on July 30, 2003 at 11:05:10