The following is a guest post by Tim of Every Peso Counts.
One of the first things I learned when I played Cashflow 101 is how to win big deals. Cashflow 101 is a game invented by Robert Kiyosaki, and it simulates some real life situations that you are likely to encounter. You are bound to make as many mistakes as possible and learn from them.
Going back to the subject of winning big deals, let us first define what a deal is: for me, a deal is an agreement or fact between two parties (either individuals or companies) to make an exchange. The success of a deal depends on how much each party trusts each other.
So, going with my above definition of a deal, it can be successful if you can make another person trust you enough. But how do you build trust? The answer? Consistency.
Consistency Builds Trust
When you’re a business, you can be consistent in the form of what you deliver, following up with the customer, good pricing, good service, etc… but don’t you notice that it’s easier to walk on level ground rather than walking up a slope? Its easier to be consistent, and win when what you’re doing is easier. You cannot be over confident as you might step on a rock, and you’ll fall to the ground. Walk on plain ground, be consistent, but do not underestimate.
However just like how consistency builds trust, inconsistency can also build mistrust. For example, let’s say that the first time you visit a barber, he gives you a very good haircut. The second time you visit, he does the same but the third time, he spends most of his time watching TV instead of focusing on you, the customer. The next few visits he continues to ignore you, as if you don’t matter any more… How would you feel?
It’s useful to point out that winning big deals is the same in employment as in business. I’m sure that during your probationary period you tried to prove yourself to your boss. But after a certain period of time, most employees tend to lose focus and interest in their work because they think they’ve “proven it” already. I’m saying this based on experience, as I was ranting to a friend how I had already proved myself to one of my previous employers and then I got slapped on the face when he told me “hindi lang naman once ang pag-prove” (proving is not only once).
It’s the same with business; you don’t only need to prove yourself once, but you should be proving yourself each and every time. You should convince the customer that your service and your product is of high quality and that they should buy from you. That’s consistency.
This reasoning brings me to my last point.
Win Small Deals First
The bottom line of this post is to tell you that big deals come from smaller deals. I’m not kidding you; history tells us that a lot of successful companies, as well as people, won the big deals by winning small deals first.
To demonstrate this point, imagine a physical therapist (a freelancer) who is just starting up in his career. He gets his first client, and then if that client likes his service, the tendency is for that one client to refer the therapist to one or two more clients, and then these other clients refer to two or more, and so on and so on…
I’m sure you’re getting my point. For most of us, it’s very rare to get a one time big time kind of deal so we just have to consistently prove ourselves.
The small deals prepare you for even more challenging tasks. If you shoot for the big deals first and you’re not ready, that opportunity will pass you by. The small deals will teach you several lessons and will help you build up confidence so you will be ready to go for the bigger deals.
Again, pursue the smaller deals first. Then the bigger deals will come to reveal themselves to you once you are ready.
Tim writes at Every Peso Counts, where he writes about becoming rich with a rich mindset.
[Kevin] I like the point that Tim raises, here, and I also believe that it’s important to remain consistent and trustworthy. I can relate to the feeling of growing complacent once a little bit of success comes our way, and we must keep on guard against that. If you’re seeking trust and a good reputation, then the focus should always be on satisfying the customer, whether that be your boss, business partner, or client. Every little effort pays off, and like a snowball rolling down a hill, it can eventually pay off in a big way. This can be applied to many areas of personal finance, as well as life in general.