With all things not being equal, the world is not fair. No matter how much you may wish it, not everyone will get a "fair shake". Especially when it comes to the matters of business. More than likely, you've been listening to "gurus" tell you that all you need is hope, ambition, and hunger. After that, you'll become successful.
What a load of horsesh**t.
After many years of basically being lied to and learning things the absolute hard way, I've found out what business really revolves around. Deals. Business deals set black entrepreneurs up for success. You cannot effectively build a multimillion dollar business without establishing relationships with influential people within your marketplace. Selling services and products is just one aspect of reaching that goal. Business deals is what carries you the rest of the way.
Pretty quickly I might add.
In today's article, we're going to take a look at 12 principles that will help navigate you through the shark infested waters of negotiation, business, life, and making deals that will help accelerate your venture to the next level. Keep in mind that this may take you several years to truly take full advantage of. However, starting now will ensure that you at least get a fair shot in the marketplace you're after.
I would suggest you copy this list down in a personal notebook of yours for quick reference and something you can keep on hand to study.
Principle #1: Control the Deal
When going into any major deal, you need absolute control over some key element. If you want to win as an entrepreneur, never negotiate a deal unless you are essential to the success of it.
Principle #2: Make Your Money Going In
The best risk to take in any deal is the early risk, when you can get in for the least. Do this and you make your money at the front end--- which is where you want to make it --- and not at the back end.
Principle #3: Being Lucky Means Being Ready
Opportunities come to everyone, but the winner is the one prepared to take advantage of them when they arrive. Put yourself in the right place at the right time, and you can seize these opportunities.
Principle #4: If the Key Doesn’t Work, Change the Lock
Not every deal succeeds. If you have failed with one approach, look at the elements. Don’t be afraid to do a reality check on any situation, and be flexible enough to change.
Principle #5: Be a Bulldog on Details
Never underestimate the importance of dealing with key details yourself, especially final details, and especially when it comes to influencing people whose help or support you need.
Principle #6: Listen to Your First Instinct
If your gut tells you that a deal is too risky or that your partners seem untrustworthy, pay attention, step back, and reflect. If you go ahead anyway, do so with extra protection, especially in terms of documentation.
Principle #7: Respond Quickly to Attacks
Call it the bully principle: If someone is attacking you, take them on immediately, even if the fight is a costly one. That will save you from all kinds of trouble later on.
Principle #8: Get Inside the Others’ Heads
Understanding what the other parties want takes creative thinking, but ultimately it’s your key to successful negotiations. Find out what they want, and then give it to them!
Principle #9: Be the Last Man Standing
Most deals take far longer than expected. Often the difference between failure and success is simply the fortitude to endure and to see things through to the end.
Principle #10: Turn Vinegar into Wine
Don’t despair when problems arise --- they frequently create great opportunities. Be alert to these silver linings, especially as they relate to other parties and fellow travelers in a deal.
Principle #11: Use the Power of Good Partnerships
Entrepreneurs are the gunslingers of capitalism and generally like to go it alone. But if you can find a good partner, one with energy, intelligence, and integrity, he or she can profoundly amplify your power.
Principle #12: Seeing Value Is Everything
The hallmark of the entrepreneur is to see value than other people do not see or have overlooked. Even when lots of people are presented with the same deal you are, few can see its hidden value.