5 Secrets You Need To Know

5 Secrets You Need To Know That Made These Entrepreneurs Millions

#1 You must be liked.

A finance mentor once told me, “Most deals are done on the golf course.” People do business with those they like. You need to be likeable. Here’s how: One, master reading personality types. Are they extroverted or introverted? What motivates them? Financial gain? Freedom? Status? Two, adjust your pitch. If I’m negotiating in China, it’s courteous to speak the language they understand. Three, like attracts like. People are more attracted as you adjust your personality to theirs. I’ve made money online and in conventional business by reminding people of their values and showing how I support their worldview. Tai Lopez, investor and advisor to many multimillion-dollar businesses who has built an eight-figure online empire; connect with Tai on Facebook or Snapchat

#2 Help the other side of the table win.

When in negotiations, find the negotiator’s personal and professional wins, and do all you can to help them achieve those wins, even if they are outside your negotiation. It could be a new job, a promotion, an introduction—make it happen. Remember, the person on the other side of the table is just trying to keep their team safe. Help them achieve this goal, because they are afraid, on some level, of making a career-ending decision. It is your job to help this person look good! Maury Rogow, CEO of Rip Media Group

#3 Create win-win-win situations in every deal.

I enter every negotiation with two premeditated outcomes: One, the line in the sand that I’m not going to budge from regarding specific terms and conditions. Two, how to create win-win-win situations for everybody involved in the deal. Many deals fall apart because someone doesn’t get what they want. Com Mirza, CEO of Mirza Holdings and “The $500 Million Man”; failed in eight companies back-to-back and today runs a nine-figure empire with over 600 employees

#4 Leverage the power of human capital by creating systems.

Always leverage human capital to multiply your time and output. I do not write a single line of code, but my employees collectively have written millions of lines of codes to execute my projects. While they are paid dollars for the hours they put in, I’m paid millions for the projects they build. I have set processes in place that my employees follow. I don’t visit my office for months at a stretch because I am busy living life or traveling around the world. Evan Luthra, CEO of EL Group International

#5 Get out of your own way.

Once upon a time, I’d spend way too much time talking the about a deal and not talking to the people behind it. Once I learned the difference, that all deals are people and all people matter, I learned to focus on their outcome and got to know the person first. The years I wasted, the deals I lost, the goals I could have accomplished, these are all the things I could have avoided by just putting the other person’s needs first. —Neil Twa, cofounder of eCom Pro Academy

Want to share your insights like those above in a future column? If you’re an experienced entrepreneur, please get in touch here.

Want to suggest a future topic for these entrepreneurs to answer? Emailsuggestion@theoracles.com and it’s very possible we’ll make your suggestion the focus of a future article!

 

 

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