To Be or Not to Be Intimidated?

1. Reality is the bedrock of success in business and life

Reality is neither the way you wish things to be nor the way they appear to be, but the way they actually are. Either you acknowledge reality and use it to your benefit, or it will automatically work against you.

Embrace reality. Successful people understand and accept the world as it is, not as they wish it to be. This allows them to make informed decisions and take effective actions. Many individuals struggle because they cling to idealistic beliefs about how the world works, refusing to acknowledge reality even in the face of repeated failures.

Avoid self-delusion. Self-delusion leads to failure and misery. While truth can be painful, it is always preferable to falsehood. By accepting reality, you can:

• Make better decisions
• Avoid repeating mistakes
• Adapt to changing circumstances
• Identify and seize opportunities

Practical application: Regularly assess your beliefs and assumptions against real-world evidence. Be willing to change your views when faced with contradictory facts. Seek out diverse perspectives and constructive criticism to challenge your preconceptions.

2. Positive attitude and hard work alone don't guarantee success

The overriding message in many motivation and how-to books is that if a person just maintains a positive mental attitude and works long, hard hours, he ultimately will succeed. A nice thought, to be sure, but one that borders more on mysticism than reality.

Redefine positive attitude. A true positive mental attitude stems from being prepared and understanding the realities of success. It's not about forcing positivity or reciting affirmations, but about:

• Being good at what you do
• Understanding what it takes to succeed
• Having self-discipline to act on that knowledge

Work smart, not just hard. Long hours alone don't guarantee success. Focus on:

• Efficiency and productivity
• Strategic thinking and planning
• Continuous learning and skill development

The Uncle George Theory: Working long, hard hours only guarantees one thing: getting old. Success requires a combination of:

• Preparation
• Strategy
• Timing
• Opportunity recognition
• Effective execution

3. There are only three types of people in the business world

There are only three types of people in the business world (with the one exception noted above), as follows: Type Number One, Type Number Two, and Type Number Three.

Understanding the three types:

1. Type Number One: Openly declares their intention to get your chips and follows through.
2. Type Number Two: Assures you they won't take your chips, then does so anyway.
3. Type Number Three: Sincerely means not to take your chips but ends up doing so due to circumstances.

Implications for business dealings:

• Always assume people will try to grab your chips, regardless of their intentions
• Develop strategies to protect your interests with all three types
• Type Ones are easiest to deal with due to their honesty
• Be most wary of Type Twos, as they are deliberately deceptive

Practical application: When entering business relationships, focus on:

• Clear, written agreements
• Building in safeguards and contingencies
• Maintaining a healthy skepticism
• Judging actions rather than words or intentions

4. Image and legal power are crucial for a strong posture

It's not what you say or do that counts, but what your posture is when you say or do it.

Develop a strong posture. Your posture, or perceived power and authority, greatly influences how others treat you in business dealings. Key elements of a strong posture include:

• Projecting confidence and expertise
• Having legal protections in place
• Demonstrating performance power (getting results)

Image power tactics:

• Use impressive marketing materials (e.g., the author's Earth brochure)
• Travel by private jet or other high-status means
• Speak and act with authority and certainty

Legal power essentials:

1. Proper licensing in relevant jurisdictions
2. Signed commission agreements
3. Use of certified mail for all important communications

Performance power: Consistently deliver results and build a reputation for excellence in your field. This backs up your image with substance and makes it harder for others to dismiss or intimidate you.

5. The five steps of selling, with emphasis on getting paid

Closing deals is so much trash, If you, my friend, don't get no cash.

The five steps of selling:

1. Having a product that others value
2. Locating a market for your product
3. Implementing a sales presentation/marketing strategy
4. Closing the sale
5. GETTING PAID

Focus on the fifth step. Many salespeople and entrepreneurs neglect the crucial final step of actually receiving payment. Strategies for ensuring payment:

• Clear, written agreements specifying payment terms
• Building relationships with all parties involved
• Being prepared to walk away if payment is not assured
• Having legal representation at closings

Avoid premature celebration. Don't consider a deal done until the money is in your account. Be vigilant about protecting your right to payment throughout the entire sales process.

6. Overcoming the Attorney Goal Line Defense

Legalman would immediately begin to implement the "he-we-I" evolution strategy.

Understand Legalman's tactics. Attorneys often try to kill deals at the last minute, using various strategies:

• The "he-we-I" evolution: Taking control of the deal from the client
• Raising numerous "problems" that need solving
• Delaying tactics to give time for deals to fall apart

Counterstrategies:

• Maintain a calm, matter-of-fact attitude
• Reframe "problems" as normal "points" to be handled
• Take initiative in solving issues quickly
• Use your own attorney to invoke the Universal Attorney-to-Attorney Respect Rule
• Create a sense of urgency to counteract delays

Preparation is key. Anticipate common legal objections and have solutions ready. Be willing to walk away if the attorney's demands become unreasonable, as this can often bring the other party back to the table.

7. Persistence and preparation are key to closing deals

The secret to bluffing is to not bluff.

The power of persistence. Many deals succeed only after multiple attempts and overcoming numerous obstacles. Key aspects of effective persistence:

• Continually follow up and keep communication lines open
• Be willing to adjust strategies and offers as needed
• Don't give up at the first sign of resistance

Thorough preparation. Success often comes down to being more prepared than others:

• Gather extensive information about properties and parties involved
• Anticipate potential objections and have counter-arguments ready
• Have all necessary documents and resources at hand

The Bluff Theory: Only make threats or ultimatums you're prepared to follow through on. This builds credibility and respect, making others take you seriously in future negotiations.

8. Don't let flattery or friendship cloud your judgment

There is no greater feeling of brotherhood than giving hope to a threesome of alcoholics.

Maintain professional distance. While building rapport is important, don't let personal relationships interfere with business judgment:

• Be wary of excessive praise or flattery
• Don't assume friendship equates to fair treatment in business
• Keep emotions separate from business decisions

Trust but verify. Even when dealing with seemingly friendly parties:

• Get all agreements in writing
• Maintain your legal protections
• Be prepared for potential betrayal

Learn from mistakes. The author recounts personal experiences where he let his guard down due to flattery or perceived friendship, resulting in significant losses. Use these lessons to stay vigilant in your own dealings.

9. Time is the enemy when closing deals

The longer you fiddle around with a deal, the greater the odds that it will never close.

The Fiddle Theory. Time works against deal completion for several reasons:

• Circumstances can change unexpectedly
• Other opportunities may arise for either party
• Momentum and enthusiasm can wane
• New obstacles or objections may surface

Strategies for swift deal closure:

• Create a sense of urgency
• Address objections and issues quickly
• Be prepared to make decisions and commitments
• Use time limits and deadlines strategically

Take responsibility for progress. Don't rely on others to move the deal forward. Be proactive in:

• Gathering necessary information
• Scheduling meetings and follow-ups
• Solving problems as they arise
• Pushing for clear decisions and next steps

Last updated: August 26, 2024