Monday, 16 November 2015

RULE 30: Learn The Art Of Deal Making


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Oba Rilwan Akiolu (Lagos Traditional Ruler) & Oba Otudeko (Businessman)

Deals are great. Deals make you money. Simple deal making skills will serve you time and time again. You need to learn to be bold, to ask for more, to trade what you have for what you want.

Here is an example of successful deal making in action. Kyle MacDonald from Montreal, Canada, traded his way from one single red paperclip to a house in the space of nine months. 

“What do you have that others might want? Think broadly here - not just possessions like Kyle, but also your skills and your knowledge, your time and your ability and efforts. Who might want these and what might you be able, to ask for in return?”

You can read more at http://oneredpaperclip.blogspot.com/, but essentially this is how he did it:
• He launched his website offering to swap his one red paper clip for anything.
• He swapped it for a green pen in the shape of a fish.
• He swapped this for a smiley face doorknob.
• He swapped this for a portable barbeque.
• He swapped this for a portable generator.
• He swapped this for an instant party pack and keg of beer.
• He swapped this for a snowmobile.
• He swapped this for a trip to British Columbia.
• He swapped this for a truck.
• He swapped this for a recording contract.
• And finally he swapped this for a house in Phoenix, Colorado - admittedly only a year’s lease but hey...

Eleven steps. Eleven little deals. Not bad. He says he is going to
Keep going until he owns a house. That’s deal making.
So, lessons to be learnt from Kyle:
• Never say you haven’t got anything to start with.
• Always be open to opportunities.
• Be adaptable and flexible.
• Have a goal.
• Work diligently.
• Network like mad.
• Take advantage of free publicity.
In my business I prefer to talk about ‘mutually profitable partnerships’. These deals, where both parties benefit, are the best deals of all. Everybody feels happy with the outcome.
What do you have that others might want? Think broadly here - not just possessions like Kyle, but also your skills and your knowledge, your time and your ability and efforts. Who might want these and what might you be able, to ask for in return?

From The Book; The Rules of Wealth by Richard Templar
(Read Rule 31 of Rule of Wealth tomorrow on Asabeafrika)

Read-to-Wealth Series 

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http://www.proshareng.com/


Gbenga Dan Asabe

Africa's Number One Celebrity Encounter Blog

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