Negotiating
Presentations
Notes
- If you don’t tell ppl about your success, they probably won’t know about it
- Short, fast & direct
- Never personally guarantee anything
- Stay focused
- Maintain momentum; stay current on the details of your field
- Get a great assistant [competent, work ethic, able to recognize the important ppl]
- Find out how fast they can work; “need something done in 15 min. b/c I’m leaving” (even though you’re not leaving)
- Don’t expect your employees to work harder than you do
- See problems as another way to prove yourself
- Co. is a living organism
o Allow good cells in the co. to flourish, watch out for bad ones
o Growth is an indication of life; keep moving
- What am I pretending not to see?
- If in danger of being fired, tell your boss you want to make sure you’re communicating & doing your job to everyone’s satisfaction; option; fire your boss & get a better job
- Never try to dissuade ppl from quitting if they don’t want to be there, you shouldn’t want them
- Get a pre-nup; In the event something happens, other people’s livelihoods could be at stake & you’re irresponsibility for taking this into consideration will be evident from not getting the pre-nuptial
o My note: if she’s really into you, she will do so with or without the money
o And why would you want someone who couldn’t support themselves anyway
- Employee who’s not as attentive as his position demands
o Tell him his poor performance is not his fault, it’s yours. You hired the wrong person by overestimating his capabilities. If he would like to change your mind about your initial mistake, it’s up to him.
- Keep a box by your desk for moments of the ppl and events that matter in your life & career. Review the contents every now & then will keep you aware of your good fortune
- If someone challenges you, always try to take the challenge & run with it
- Formula for success: Deliver The Goods
- Try to get ppl you like to work for you
- Beware of little expenses. A small leak will sink a great ship. In business, nothing is ever too small to notice
- Someone who consistently makes the same mistakes, works elsewhere
- Someone who likes what they do displays it through there attention to detail
- Be blunt
- Great leaders have no fear & tremendous positive energy
- Business is dramatic; nothing boring, nothing passive
- If you win on the big point, you don’t sweat the minor ones
- You never interrupt the boss in a meeting
- You never interrupt the client in a meeting
- Don’t volunteer deficiencies (things that are not your forte)
- Don’t take unnecessary abuse
o My note: grant @ min muffler BMW attitude
- The shifting dynamic of the group & their interplay, with its changing patterns & alliances = the way business teams function
- Don’t put up with nonsense from anyone
- You need
o An outstanding personality; makes everyone feel comfortable, able connect with the ppl you encounter, every hour, every day, no matter what you’re doing
o Combination of book brains & street smarts
o Creativity; ability to see beyond the obvious, making connections others may not envision
o Loyalty & trust
- there’s another side to everything; dvlp your ability to see it/hear it
- find what others have done to succeed; do 10x more
- let no one else be your yardstick; it takes power away from you
- try using downtime to re-energize; queit work times spread throughout the day
- dressing successfully means understanding your environment
o knowing the culture & making an effort to reflect & respect it
o don’t put unnecessary hurdles for yourself
o make it easy for ppl to take you seriously
- sex sells
- think of how you would like to be perceived & proceed from there
- I’ve known a lot of terrific looking scoundrels & well dressed bums
- Invest only in products you understand, with ppl you can trust; ppl with track records; those without will find a way to prove themselves
- Sometimes the best investments are the ones you don’t make
- You’ve got to give the ppl what they want (gossip)
- Sometimes when a friend is in trouble or has a problem, they can ask “Can I blame it on you?”
- New York Post, Page Six (read it), Richard Johnson
- Ppl don’t change their stripes
Ppl who have Ppl who haven’t
Chaulk Marsh
- You can knock 20% of ppl, maybe 30%, but not everyone
- Yell at ppl who cheat you. Then scream at them.
- Know how to prioritize; keep up your momentum (no bogged down conversations)
- Always ask experts. No second hand opinions.
- Its better to have too many than not enough.
- Even with a great mgmt team, its good to check things out for yourself as much as possible (renovations invitations from existing tenants, new tenants to see if everything is up to par)
- Reading enough publications lets you know the best funds, advisors, reporters/journalists
- If someone is talking bullshit; “Do you know who you’re talking to?” (saves a lot of yelling time) “Do I need to remind you maybe I know what I’m doing, or are you sharp enough to have just clued in?”
- Make everything entertaining
- After coming up with a great idea, ask ‘is it possible’ & ‘will this be feasible?’
- Get a pre-nup;
o It means you recognize life & parts involving love & business can be complicated
o It could jeopardize livelihoods of other employees
- Become best friends with everyone at the bank
o Talk to who’s in charge (not the figurehead) personally
o Arrange a meeting with them, ideally dinner (w their families) & get to know them
- Eliminate the middle man
o Lawyers never want to settle; their fees stop; same with similar servicemen
o Make the deals yourself. Control the situation
o Sue scoundrels; whenever possible settle; it saves time
- Every new hire is a gamble; look for
o Sense of responsibility going beyond what’s sufficient
o Those concerned about the org. as a whole
o Having a direct reln’s to success/failure of the co.; if they believe they are important, their work will show it; instill this sense of worth in your employees; you want ppl who take pride in their work
o Spend/save co. money like it’s theirs
o Can think on their feet
- Ideas; how they should be presented to you
o Limited time to present; direct
- Recognize ppl’s talent & give it a chance to unfold; put them where they will shine & succeed
- Ppl have diff ways of achieving results
o Figure out how each employee excels
o For some ppl, loss of a job is a good motivator
o Never demoralize ppl
- Think big; if it’s not a hit, what’s the diff b/w losing $100,000 & hundreds of millions? Either way you’ve lost, so you might have well really gone for it
- Be optimistic, but always be prepared for the worst
- Keep a list of quotes you can refer to at any time to change your attitude
- Avoid being the trigger & the revolver will not be threat
- Read Carl Jung. Memories, Dreams, Reflections
- Deflate an opponent with “Yeah, whatever you say.” Sometimes, rather than confronting a tyrant or psycho directly its more effective to keep the Kn to yourself & proceed accordingly behind the scenes
- Criticism
o consider the source; should this opinion even matter to you? If yes, can anything result from it?
- In every business, the bottom line is understanding the process. Part of this is doing your homework.
- What holds most of your attention; this will help in choosing a career or business
- The stronger the foundation the better
- Find out as much as you can yourself about what you plan to do
- Most ppl want what’s best for themselves
Negotiating
- best negotiators are chameleons; attitude, demeanor, approach & posture in the negotiation depends on person across the table
- if other party wants something you own, let them convince you that you really don’t want/need it; in doing so they’ll convince you of how badly they want it
- money is not the only consideration for exchange in the sale of assets; think beyond traditional boundaries
- learn the value of saying NO.
- VIEW ANY CONFLICT AS OPPORTUNITY
- Know the party across the table b4 sitting down; research who you are dealing with, how they negotiate, & what they want from you
- If you want the truth, go to the source & skip the translation by the intermediary (don’t deal with the agent)
o People will be impressed if you go out of your way to see them
- Know exactly what you want & keep it to yourself
- Write down your objectives and try to anticipate what the other side wants
- Find a way to talk & set up parameters to prevent either of you from getting locked in an impossible position
- Don’t be confined by your expectations
o What you think you want & actually want may be diff.
o Move forward in unexpected directions
o Assimilate new info quickly
- Let everyone come out a winner
- Let your guard down, only on purpose
o Offer a calc nugget of info or a provocative opinion to see the reaction
o Something said seemingly off the cuff may get a revealing response
o Make an outrageous comment to see whether others play along, take a stand & disagree; if helps asses the mettle
Do they want to be liked
Are they comfortable with unpredictability
Are they capable o candor
- Show a lack of interest to speed up a deal (put off their calls & appear aloof)
o Tell them you’re traveling
- Slow down a deal; distract the other side; to send them off in a dirction to consume their time and focus
- Ex. Drop hints a certain aspect of the deal should be looked into further, or to mention other deal or properties as examples
o Ex. Suddenly ask if they know the history of a particular dvlpmt, implying their understanding may be crucial
o
- Be strategically dramatic (suing the city 5 mil)
- We do it for the trill of the hunt; the experience
- Being nice to some ppl never pays off
- Its about persuasion, not power
o Power is the ability to convince ppl to accept your ideas; it comes from knowing what you are doing
- If they think the decision is theirs, it gives them a feeling of control
- He who has the gold makes the rules
- If you know nothing about them, let them talk & observe, their tone, body lang, etc.
o Determine whether they want to make a deal or just show how smart they are
- Sometimes a negotiation works best after a few screams & some table pounding
Presentations
- Study Regis Philbin
o He’s relaxed & funny, always relates to his audiences
o Give & take
o He shares
- Before getting to the formal presentation, be sure to establish a connection with the audience
- Think about your audience 1st; Involve your audience
- Tell stories, use humor
- Look for what you have in common
- Ppl are there to learn & be entertained
- Poke fun at yourself
- Figure out why things capture your attention
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My Notes
- the longer you wait to do something, the more work it is & time it takes
- if you’re not in the position to do so, don’t; if they think you are, you might be
- get to know good coaches & owners of sports teams ex. George Steinbrenner (Yankees), Bob Kraft (Patriots), Jerry Jones (Dallas Cowboys), Bob Tisch (NY Giants)
- Eating = 15 min + no distractions
- Work 10 hrs/day
- Professionals can, in the company of those they are not found of , put their differences aside & complete the task at hand (work together)
- Each situation is unique, allowing my assessment to be unique, with no time constraints. Very restrained in regard to making decisions. Peoples don’t see the process; they only see the results
- If the guys were smart in the Apprentice, they would have hired girls to sell the lemonade for them
- If you don’t have what they have [are using], you can get it [hire it, buy it, rent it]; or something better
- Your time is something you invest in many areas. Make sure your time investment is inline with your goals & interests.
- If they like you they will want to do business with you b/c they enjoy you (& their work) even at a lower price