• Home
  • About
  • Recommended Reading
  • Disclaimer
  • Privacy Policy
  • Advertise / Contact

Invest It Wisely

Maximizing your EV in life

  • Home
  • Growing Your Wealth
  • Small Business Solutions
  • Healthy Living
  • Miscellaneous

How to Win Big Deals

By Guest

The following is a guest post by Tim of Every Peso Counts.

Handshake, by Dragon Art. Source: http://www.dragonartz.net/2009/08/05/handshake-vector/

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.

Related Posts Plugin for WordPress, Blogger...

Filed Under: Growing Your Wealth, Miscellaneous, Opinion, Philosophy Tagged With: big deals, business, cashflow, consistency, deals, loyalty, negotiation, proving yourself, Robert Kiyosaki, trustworthiness

About Guest

Comments

  1. retirebyforty says

    January 7, 2011 at 8:18 am

    Kevin, have you tried this cashflow 101 game? It sounds interesting. I didn’t pay too much attention when I read about it in Rich Dad Poor Dad, but maybe it’s worth investigating. OK, I just saw the price on Amazon, 200 bucks! really??

    • Kevin says

      January 7, 2011 at 8:22 am

      I heard about it from the same source, but nope, haven’t tried it. $200? Woah! I would look on eBay or Craigslist or something first for a used version! I guess that’s why I’m just not a fan of Kiyosaki personally, although I do think he brought up some good points in “Rich Dad, Poor Dad”.

      • Tim says

        January 7, 2011 at 9:52 am

        Hi guys,

        Here in Manila there are companies/groups that sponsor cashflow playing events. I’m not sure if the same setup is available from where you guys are. I agree, $200 is a little off and it’s not much fun playing it alone. Oh, I should’ve mentioned in the post that an online version is available!

        • Kevin says

          January 10, 2011 at 10:58 pm

          Hey Tim,

          Glad to hear that there are ways to avoid the high cost! It seems like one could learn some interesting things from playing the game. I wonder if anyone’s made a free knock-off somewhere. 😉

    • Get Happy Life says

      January 8, 2011 at 4:22 am

      There is something enchanting about Rich Dad’s ideas – despite all the talks that he says nothing practical, I am still seduced by the idea that people should really focus on making money and think like entrepreneurs.

      Basically what this post advises is common sense – you should be consistent so that you are recognizable by that trait and you would win people’s trust more easily. I think this is part of branding strategy, too.

      • Kevin says

        January 10, 2011 at 11:01 pm

        There are some things I liked about Rich Dad Poor Dad, though I didn’t like how Kiyosaki made it feel like he was “gaming” the system and that anyone could do so as easily as he did, nor the way he makes out working people to be “suckers”. Still, a lot of interesting things to learn!

  2. DoNotWait says

    January 7, 2011 at 10:21 am

    I like this post. I think a lot of people, including myself from time to time, go thinking they proved it all. Like with friends and lover, if you take them for granted you’ll wake up one day realizing they are all gone. We should try to be our best every day. Of course, there are days when it gets harder, but those are the days when you can prove yourself even more.

    • Kevin says

      January 11, 2011 at 8:25 am

      Yep, the old adage of taking something for granted. We need to be on guard against it!

  3. krantcents says

    January 7, 2011 at 11:28 am

    This is not just for business! Consistent performance is appreciated in all fields and life. As a teacher, I am rewarded for no absences in a semester, additional paid assignments because I am dependable and responsible, and other benefits.

    • Kevin says

      January 11, 2011 at 8:25 am

      True, this counts for a lot in personal relationships as well.

  4. Jessica07 says

    January 7, 2011 at 1:55 pm

    Kevin, you made a very good point in your endnotes about the dangers of complacency. Growth is great, and to become confident in that growth is all well and good, but only to a certain degree.

    • Kevin says

      January 11, 2011 at 8:26 am

      That’s another good point. Gotta be careful about building castles in the sky. 😉

  5. LifeAndMyFinances says

    January 7, 2011 at 4:59 pm

    Tim mentioned there is an online game – this is true! All you have to do is register – which is free. It is a pretty fun game and it teaches you a lot about passive income through property investments. However, the game doesn’t teach you how to keep you debt low… when I “won” the game, I had a great cashflow, but my debt was nearly half a million dollars!! If any of my investments would have gone south, I would have been declaring bankruptcy.

    • Kevin says

      January 11, 2011 at 8:28 am

      Haha. Well, leverage will increase your returns along with your risk. Surprised that the game would encourage that though cause IIRC Kiyosaki was not so fond of debt… or maybe I’m remembering that part wrong. Good to hear that there’s a way to play without spending a lot of money.

  6. The Passive Income Earner says

    January 7, 2011 at 5:39 pm

    Very nice article! I can say it applies to any situations when you have to deal with people at work or in business. Getting a promotion or a pay raise is like making a deal, as the employer agree that you are worth it.

    I have not tried the game either, I should check it out.
    Cheers!

    • Kevin says

      January 11, 2011 at 8:30 am

      Yeah, when you think about it, this is something you could really apply to all facets of your life. Tim showed us that there are parallels between the different areas — loyalty, honesty, and “proving yourself” will get you far whether it’s business or a personal relationship.

  7. My Own Advisor says

    January 8, 2011 at 9:56 am

    Sounds like an interesting game! Good article Tim (and Kevin).

    • Kevin says

      January 11, 2011 at 11:46 am

      One thing I have to give Kiyosaki credit for is for getting people in the mindset of accumulating assets and purging liabilities. It isn’t the way most people think about things, especially re: one’s home!

  8. Mike says

    January 8, 2011 at 12:17 pm

    Interesting post. I think the most important “nugget” is that about consistency builds trust but more importantly how inconsistency builds “mistrust” Often times we don’t realize this – because we simply aren’t doing anything.

    • Kevin says

      January 11, 2011 at 11:47 am

      Right, sometimes we’ll end up learning the hard way from the school of hard knocks. Experience is a good teacher as well.

  9. Tim | Every Peso Counts says

    January 9, 2011 at 1:44 am

    Thanks for the positive response everyone! I’m glad that I’ve communicated my point quite effectively (I strongly believe with Kevin’s help). And this article could never have had enough attention had I posted it in my blog so I’m glad it served more of its purpose have posted it here at Invest It Wisely. Thanks again!

    • Kevin says

      January 11, 2011 at 11:48 am

      Thanks for the great guest post! 🙂

  10. youngandthrifty says

    January 9, 2011 at 2:08 am

    At first I thought you wrote the article, Kevin 🙂 I was like “whoa! Kevin doesn’t seem like the type to pay $200 for cashflow 101!” Then realized it was a guest post 🙂

    Great post- agree that small steps can add up!

    • Kevin says

      January 11, 2011 at 11:49 am

      Haha, but apparently you can also play online without forking over $200. I’ll have to check that out sometime.

  11. Doctor Stock says

    January 9, 2011 at 12:40 pm

    Great post. I think all of us at one time or another have fallen prey to trying to hit a home run each time up to bat. We need to learn to make contact and hit a base hit first.

    • Kevin says

      January 11, 2011 at 11:53 am

      Something that just came to mind is that by being consistent and spending a lot of time at the plate, we are setting ourselves up for success and for more of those home runs down the road. We may end up getting more home runs that way.

  12. Andrew @ 101 Centavos says

    January 10, 2011 at 7:19 am

    Good post, Tim. You make a good point about baby steps. As a former boss once said, when you are in a probationary period, you’re interviewing *every* day.

    • Kevin says

      January 11, 2011 at 11:54 am

      And probably beyond that, too, though it always depends. Best not to get too complacent!

  13. entrepreneurs startup says

    January 10, 2011 at 10:07 am

    I like the post, Tim. You came to the point you want to convey directly with good examples. this post is knowledgeable to me.thanks for sharing

    • Kevin says

      January 11, 2011 at 11:56 am

      Glad to see that Tim’s getting some good exposure!

  14. Tim | Every Peso Counts says

    January 11, 2011 at 5:26 am

    Thanks guys! Yes, I love making real-world examples and I would even make myself as a bad example if it need be.

    Every day of my life I remind myself of the lesson I myself taught in this article. I’m as guilty as the next person is from time to time but I hope that somehow this would always serve as a reminder.

    When there’s some changes in your life, try to come back to this post and reflect those changes in what I tried to discuss here, I’m sure you’ll be able to discover other things about yourself.

    • Kevin says

      January 11, 2011 at 11:57 am

      I think it takes some guts to be humble. Our egos are the most fragile things in the world, but we have a lot to gain from introspection and self-analysis. Better to toughen up the ego along the way as well.

Trackbacks

  1. Tweets that mention How to Win Big Deals | Invest It Wisely -- Topsy.com says:
    January 7, 2011 at 1:24 pm

    […] This post was mentioned on Twitter by Every Peso Counts and Elle. Elle said: RT @investitwisely: How to Win Big Deals http://goo.gl/fb/ycA5o #Yakezie […]

  2. Weekly Blog Round up - Getting The New Year off Right! says:
    January 8, 2011 at 1:25 pm

    […] How To Win Big Deals – Kevin over at Invest It Wisely shares some useful ideas on how to win the big deal. I believe these ideas can be applied to almost any successful relationship […]

  3. Weekly Blog Round: Your Money & Your Dividends « The Passive Income Earner says:
    June 29, 2011 at 1:40 am

    […] Kevin @ Invest It Wisely looks at what you need to win big deals. […]

About Invest It Wisely

Invest It Wisely is about evaluating the choices that each of us face everyday. It’s about investing your time, your money, and your energy wisely, in order to achieve your goals. The end goal is maximizing your life expectation, and exploring the ways to get there.

Subscribe!

Subscribe via RSSSubscribe via EmailSubscribe via TwitterSubscribe via Facebook

Most Popular Posts

  • How to Get Fit, Feel Better, and Get Rid of Your Foggy Head: A Few Simple Steps
  • 3 Frugal Ideas for a Romantic Valentine’s Day
  • What Would You Do with a Million Dollars?
  • The Importance of Opportunity Costs, and Why They Should Not Be Ignored
  • What Do You Need to Get out of the Rat Race and Achieve Financial Freedom?

Categories

  • Avoiding Scams
  • Book Reviews
  • Crypto Trading
  • Currency Trading
  • Economics
  • Financial Freedom
  • General Reviews
  • Growing Your Wealth
  • Healthy Living
  • Insurance
  • Interviews
  • Investing
  • Market Analysis
  • Miscellaneous
  • Motivation
  • Opinion
  • Paying Down Debt
  • Philosophy
  • Precious Metals
  • Reader Questions
  • Real Estate
  • Relationships
  • Saving Your Money
  • Small Business Solutions
  • Stories
  • Uncategorized
  • Weekend Reading

Archives

Invest It Wisely Copyright © 2016
Creative Commons License
This work by Invest It Wisely is licensed under a Creative Commons Attribution-ShareAlike 3.0 Unported License
Permissions beyond the scope of this license may be available at http://www.investitwisely.com/contact