This Made Me $25 Million
Summary
- I've learned that being prepared to walk away from a deal has earned me over $25 million.
- This approach worked because I showed I didn't need the deal as much as they needed me.
- Sticking to my terms and showing independence can lead to more favorable outcomes in negotiations.
Video
How To Take Action
I would suggest focusing on your self-worth in negotiations. Remember, being ready to leave the table if it's not right is powerful. It shows you value your offer. Start by getting clear on what you will and won't accept. And stick to it. If they really need what you have, they'll come around to your terms.
A good way of doing this is by practicing your pitch and the scenarios you might face in a deal. Know your numbers and the value you bring so you can talk with confidence. This prep work doesn't cost much, just your time and commitment.
When in talks, keep calm and respectful. But, if it's not fitting, be okay to say "no thanks," and mean it. This might be tough at first, especially when you really want the deal, but trust your worth. It might just bring them back to you, ready to work on your terms.
The key part is to not bluff. Be genuine about walking away. People can tell when you're not serious, and it could ruin your negotiation.
And while you prepare to stand firm, also think about creative solutions. Maybe there’s a part of the deal you can adjust that keeps you happy and tempts the other party. It never hurts to think outside the box.
Finally, reflect on each negotiation afterwards. What worked? What didn't? Learn and adjust for next time. These small steps, when you practice them regularly, can lead to big wins in your business and personal growth.
Quotes by Alex Hormozi
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Full Transcript
being willing to walk away in total has made me over $25 million in cash of money that I walked away from and said I don't need the deal and then came back and then they offered me my terms because they needed me I didn't need them
