GordonJ
November 12, 2007, 08:24 AM
A $200000 Lesson on Deal Making...
http://www.zeromillion.com/young/young-entrepreneur.html
Phil
Thanks Phil as always,
Scroll down and read, then print out and hang on wall, computer, monitor, somewhere you can see it every day:
Structuring a Percentage Deal & Using Other People's Money
It is the most succinct COURSE on deal making and is RIGHT ON.
Other comments,
Dien, I'm getting a full blown lesson on deal making from Harvey Brody...and consider that he makes 99% of his multi-million dollar deals from his home office...over the phone, fax and computer...he must have this deal making thing down pat (he does...and it is remarkable to those of us who haven't experienced it, to HB, it is daily routine)...
Harvey tells me he knows almost immediately if the deal presented is worthy of pursuing. That ONE skill alone is a valuable time saving money-making asset. You won't get BOGGED down in "bad deals".
Also, Sandi, I'm going to disagree with this statement:
"You or they, have a problem or there'd be no reason to be discussing a deal".
And it may be semantics or splitting hairs, let me know.
When you look at the deals that guys like Harvey Brody, Jay Abraham and Robert Ringer put together, it more often than not doesn't solve a problem, it creates more revenue or income. They make deals that produces passive income for themselves while increasing the bottom line.
The reason I say this is because many companies they work with are very successful, they don't have a problem, per se, they need to be educated or shown another revenue stream...exactly as Ryan says in his response to young Greg...
"Explain to the owner that they have no risk, as they will not have to pay you unless you bring in sales."
These type of deal makers increase profits for some very successful companies and businesses that are humming along, problem free, but aren't maximized in ways that a guy like Harvey Brody can help them with.
So, before negotiations even begin, the deal maker has to have a very clear idea, a well defined outcome, and the right attitude (as you mention) before an approach is made.
And the ultimate postion of strength is being able to walk away from any deal if it doesn't meet your criteria and makes you happy.
Once you have whetted their appetite, and you have a proven track record (although that didn't stop 17 year old Ryan)...they have more trouble walking away from a lucrative deal and are more willing to meet your "demands".
I do agree that "knowledge doesn't ... equal skill, but it sure helps".
It sure does.
Gordon Alexander
http://www.zeromillion.com/young/young-entrepreneur.html
Phil
Thanks Phil as always,
Scroll down and read, then print out and hang on wall, computer, monitor, somewhere you can see it every day:
Structuring a Percentage Deal & Using Other People's Money
It is the most succinct COURSE on deal making and is RIGHT ON.
Other comments,
Dien, I'm getting a full blown lesson on deal making from Harvey Brody...and consider that he makes 99% of his multi-million dollar deals from his home office...over the phone, fax and computer...he must have this deal making thing down pat (he does...and it is remarkable to those of us who haven't experienced it, to HB, it is daily routine)...
Harvey tells me he knows almost immediately if the deal presented is worthy of pursuing. That ONE skill alone is a valuable time saving money-making asset. You won't get BOGGED down in "bad deals".
Also, Sandi, I'm going to disagree with this statement:
"You or they, have a problem or there'd be no reason to be discussing a deal".
And it may be semantics or splitting hairs, let me know.
When you look at the deals that guys like Harvey Brody, Jay Abraham and Robert Ringer put together, it more often than not doesn't solve a problem, it creates more revenue or income. They make deals that produces passive income for themselves while increasing the bottom line.
The reason I say this is because many companies they work with are very successful, they don't have a problem, per se, they need to be educated or shown another revenue stream...exactly as Ryan says in his response to young Greg...
"Explain to the owner that they have no risk, as they will not have to pay you unless you bring in sales."
These type of deal makers increase profits for some very successful companies and businesses that are humming along, problem free, but aren't maximized in ways that a guy like Harvey Brody can help them with.
So, before negotiations even begin, the deal maker has to have a very clear idea, a well defined outcome, and the right attitude (as you mention) before an approach is made.
And the ultimate postion of strength is being able to walk away from any deal if it doesn't meet your criteria and makes you happy.
Once you have whetted their appetite, and you have a proven track record (although that didn't stop 17 year old Ryan)...they have more trouble walking away from a lucrative deal and are more willing to meet your "demands".
I do agree that "knowledge doesn't ... equal skill, but it sure helps".
It sure does.
Gordon Alexander
