TAILIEUCHUNG - Make Millions and Make Change 14

Make Millions and Make Change 14. This book focuses on a high-growth, small business theory with a particular emphasis on modern technologies and marketing. We feel these areas are often shortchanged in business academia but still offer the most opportunity for small businesses. Make Millions and Make Change! is a living document that can serve as your raw code to “get rich and serve the world.” It will be most effective if you are adding to it constantly, fine-tuning the elements that work best for you and eliminating those that don’t | Make Millions and Make Change Close Your Deals There is a lot of money out there that is trading hands and you get to compete for your share. The best way you can prepare for this is to complete your education and training then put in long hours and gain on-the-job experience. Along the way you will learn what to look for in a good contract and how to ensure all the terms you need exist like a good termination clause an agreement stating your employees are to not compete with you or steal your secrets A Non-competed and Proprietary Inventions Agreement respectively and so on. The relatively small details in every negotiation are less important than finalizing a deal and ultimately being paid so do not let miniscule points keep you from closing the deal. The bottom line is always in the math. If the math works and you are happy with the personalities of the opposing parties you cannot be scared to take on a project. Having said that if other parties do not accept your math the only leverage you have is to walk away. Therefore you must be willing to walk with no personal attachment to any deal. A reserved disposition will help you make better business decisions without emotional baggage or confusion. Decide where your boundaries are and politely stick to them. When you are purchasing from a vendor for the first time and you believe your account is or will be one of their largest then it s appropriate to ask for what s called most favored nation MFN 130 Make Dollars - Use Sense status in your contracts. MFN will ensure that other customers possibly including your competitors are not getting better pricing and that if they do in the future you would be entitled to the same. Deal making is a lot like playing poker. Your hand represents your leverage or lack thereof. Interestingly in poker your competitors cannot tell what leverage you have unless you have cards face up on the table. You pretend to have leverage by bluffing in business you can try the same. Yet if .

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