Facebook-Tracking-Pixel
Limited Time Offer! Schedule your FREE business coaching session and scale your business smarter & easier! Reserve My Spot

Success! Your account information has been updated.

close icon

This business coaching session is about negotiations and navigating the game of numbers.

Results-Focused Training, Tools, and Workshops from Expert Business Coaches.

Featured Coaching Excerpt - Notes & Transcript, Part 1
  • Steps For Effective Contract Negotiations:: 3. Know Your Numbers
  • Ask Yourself:: What do you want out of the deal you are negotiating right now?
  • Lesson Nugget:: Make your deal a no-brainer so it is a win-win for both parties.
  • Lesson Nugget: : You must know that you know that you know what you want out of the deal.
  • Lesson Nugget: : Your deal must obviously be a win-win for both parties.

-Know your numbers. What do we mean by that?

-Well, you have to know what you want. And you have to know what makes sense for you to get it. So you have to know those numbers. Let me get into this. If you know your numbers, you just have to know at the end of the day, what do I want?

You ask yourself right now, what do I want? So when working with Mr. Kanbar and SKYY Vodka, I was thinking, I would like free office space in downtown Tulsa. Free office space. For free? Yeah, I wanted free office space.

Why did I want free office space? I wanted it because I was currently paying about $5,000 a month for office space, and I wanted free office space. In exchange for the marketing, the PR, the web development-- and so my thought is he was currently paying a certain amount. So he was currently paying, let's say, this amount. He's currently paying this amount.

And I thought, well if I come in here and say, you don't have to pay me. You just pay me commission only, and all you have to do for me is you have to give me this commission here, and you have to give me free space, which is currently vacant anyway. I thought that is a win-win. But I knew at the end of the day, when we finished talking, negotiating, marinating, going to the summit club, and have lots of gluten. We had a lot of bread. A lot of times we were negotiating and meet for a lot meals, a lot of salad.

I knew that at the end of the day that I wanted to have free office space. So you have to know what it is that you want. The other thing is, you have to know the dollars and cents. You have to know the math. You got to look at it and say, OK--

And again, these numbers aren't accurate. And because of just the confidential nature of certain deals, I'm not going to give you specifics on this. But I'm just trying to help with this example. But let's pretend-- and this isn't a real number-- but let's pretend.

That let's say that the other guys, in this case the Kanbar properties, let's say that they were spending $20,000 a month on PR, marketing, real estate. And let's say that the space I wanted would cost $5,000 a month, and then everything else I would do for free. Whatever the numbers were, I knew the numbers, and I knew that it was a no brainer. It was like-- I don't know.

Should we dramatically reduce all of our costs, and then give away free space? [UH] Makes sense. I wanted to have that kind of deal where it's a no brainer. Where you could be-- if your mind was just firing, and your synapses were just firing at a rate that was a tenth of the speed of a normal human brain.

And your mind was not very intelligent, not very evolved. And you could look at the deal and go, that makes sense. It's a no brainer. It's a win-win. So, back to you.

-Awesome. So step number 3, know your numbers. Not just what you want, but also the dollars and cents behind it.

Let's Get Started. Try Us for $1
Login Try Us for $1
search icon
Feeling Stuck? Ask our Mentors any Business Question.

Ready to Thrive? Log In to your Account.

Login with your email
Please enter your email.
Please enter your password.
Login with social accounts
Signup | Forgot password?

Forgot Password?

Send us your email address, and our team of elite minds will get right on it.

Sign up to Thrive15

and get unlimited access to 1,700+ courses
  • Full Access

    Month-to-Month
    $ 49 /mo
    Try it free
    • World-class mentorship
    • 24/7 access to all videos
    • Practical business tools
  • save $98 on an annual membership

    Annual

    Year-to-Year
    $ 41 /mo
    Save $98!
    Try it free
    *Billed as one payment of $490.
    • World-class mentorship
    • 24/7 access to all videos
    • Practical business tools
  • Thrive15 group memberships

    Team Membership

    Need to train five or more people?
    Learn More
Graduation Cap Icon College student? Sign up for $19/month. Learn More

Contact Us

Give us a call or send us an email and we will be in touch as soon as possible, or sooner than as soon as possible.

Email: info@thrive15.com
Phone: 918-340-6978
Prefer communication by smoke signals?

Ask us a question!

We want to answer you, no strings attached. How can we reach you?

Please enter your name.
Please enter your phone number.
Please enter your message.

Feedback

Let us know what's going on.

Please enter your subject.
Please enter your message.
Even more feedback