How you think about money is responsible for 95% of where you are in your financial life in my experience. You don’t have to worry about that too much. I already know finances are important to you. If not, you wouldn’t be reading this post. That is a fantastic place to start from and it means you have a leg up on most of the people around you. Cool Beans.
Now you can build on that strong foundation. Use the idea of “communicating opportunity” when you listen and speak about money. If you do, it will accelerate your financial results and save a ton of time.
What does “communicating opportunity” mean?
The best way to explain this is by example. Let’s say you want to earn more money at work. If you talk to your boss about what you need her defense goes up and your chances of getting that raise drop like a steel office desk. But if you talk about the opportunity your company has to solidify its relationship with a prized employee and how that pays off for the organization, you have a better shot of getting the boss’ attention.
Let’s say your glasses broke and you need to replace them pronto. You find a pair you like but they are expensive and you have no idea if they are worth it or not. Tell the seller your concerns but don’t stop there.
Tell the merchant that you are hoping for a great deal. Explain that you have an entire family that needs glasses and you are looking for a long-term relationship. Tell them you will have the glasses appraised for quality and value after the sale. If it turns out that the merchant provided outstanding value you will be a great repeat customer and you will send an email to all your friends about the great experience and endorse the shop.
This is an opportunity for the store owner that far exceeds the profit on one particular sale. A smart entrepreneur will jump at the chance of making this a great deal for you. Why? Because you communicated opportunity.
You can also use this powerful concept when you are trying to decide to do business with someone or not. Is someone trying to pitch you based on their personality or play to your fears? Or instead, are they being honest and really presenting an opportunity that you value?
My wife and I were thinking of buying property recently. We passed by a realtor’s office and inquired about one of the listings. Rather than ask us any questions about our needs (so he could figure what opportunity we might be looking for) he launched in a not-so-slick sales pitch. We turned tail and exited as soon as we could.
The only way you can communicate opportunity is to ask questions first. And the only way someone else can provide opportunity to you is if they first get to know what your needs are.
It’s a simple concept yet profound and potent. If you are dealing with a person who really doesn’t take the time to find out what opportunity is for you, don’t waste your time with them. They aren’t going to be a good partner.
And if you want to do business with someone, find out what opportunity is for them and tailor your presentation around that.
It goes without saying that this only works if you are honest. Never fabricate opportunity because people aren’t stupid and it’s bad karma. And just because there is opportunity doesn’t mean the deal is always a good one. Consider the risks as well and talk about them even if it’s detrimental to your interests.
But by dealing honestly with others and pointing out what’s in it for them first, you have a higher chance of getting more of what you want and dealing with cool people too.
Do you bend over backwards to find opportunity for people you do business with? Are you repelled by sales people who don’t try to find a value for you? What’s been your experience?