Benjamin Franklin once said: “If you fail to prepare, prepare to fail.” About 100 years later, Abraham Lincoln showed us how. Suppose you are given a day to chop down a huge tree with an axe. What would you do (other than panicking or freaking out!)?

Of the roughly 500 managers whom I've asked in my seminars, about 35% of them said they would start chopping the tree right away, while 60% said they would first analyze the task before executing it (what do you expect from managers!). Quite unfortunately, none had chosen to do what Abraham Lincoln would have done. According to Lincoln, a seasoned woodcutter himself who later became one of the greatest American presidents, “Give me six hours to chop down a tree and I will spend the first four sharpening the axe.” Wow!

Let me ask you a question. If you are tasked to fix 100 screws, would you rather use a reliable screwdriver or a few worn out ones that are beyond use? The answer is plain. Every carpenter knows that one good screwdriver can get far more work done than 10 blunt screwdrivers.

Lincoln’s advice is a simple wisdom with profound implication. Whether you're planning to write a book, produce a movie, start a business, or run a corporation, being well-prepared with the right tool, skill, or resources is paramount.

Whatever you do or plan to do in your life, be sure to do what you can to prepare for the big act before you carry out the big act, for the one who fails to prepare had better be prepared to fail! Simply put, it's far better to be all set up for success than to be all set up for failure.