Slow is Fast

Building something great just takes time. There is no single defining action, no grand program, no one killer innovation, no solitary lucky break.”-Jim Collins. 

I have consistently applied the "slow is fast" approach to my company and some or even most of the "fastest" successes my team and I have notched on the scoreboard have taken time to nurture to success. To the outside world, LOGOS moves fast. We quickly elevated and became noticed in the marketplace by funders, investors, donors, and land owners. However, in reality, to get to where we are today has taken sustained patience, perseverance, and a positive mindset in the teeth of sometimes almost bone-crushing challenges.

And here's why–because, almost every time, "slow is fast."

For example, most of the deals we do take about 1.5 to 2 years to get from the 1st meeting to finally "inking the deal." In our case, this means the land owner has agreed to a joint venture where their land is placed into a new single entity LP with LOGOS as the senior development partner and owner. To most in the development business, this is almost too long for a deal to get done.

Perhaps. However, in that time, we have learned what our land partner’s greatest concerns & greatest hopes are, and they too are clear on what our values are, what the development process will be and the reality of the economics for all parties. 

In that "long" period of time to get the deal done, we have given the land partner every off ramp we can create and every opportunity to say "no."

What is the result of this "slow is fast," process? By and large after the deal is signed, we have a new partner who is:

• - Sure we have "heard them," and done our best to make the deal work for them because we have taken the time to create a partnership that will last.

• - Realistic about the time frame and process to get the project built.

• - (Most importantly), now a key ally and resource in the community and with the city as we move through the funding, entitlement, and permitting process that believes in the LOGOS mission and advocates to get the project permitted and built.

One last benefit to adopting the slow is fast approach is that our joint venture land partners almost always become referral sources for us to our "next great deal." We have taken the time to develop a strong lasting relationship/partnership and they want others to have what they now have- a great partner, tried and true.

Jim Camp states: “You must be willing to go slow, even if your adversary or counterpart wants to go fast. The one who moves slowest often wins.” In our deal making process its not about winning per se, but it is about making sure that we have taken the time to "tell the story," about what a good deal and partnership looks and feels like, so that expectations about what success looks like are set and attainable.

My friend, If you applied the “slow is fast” principle to one area of your business or deal making process, what positive outcomes might you see? Where is your “go fast” approach leading to less than optimal deals and collaborations?