How The Principles of For The Love of Success Helped Close A Deal.

Introduction:

We recently closed a major deal! 

And I mean MAJOR!!!

This blog post is not meant to brag or give you the details of what we did. 

Rather, it's meant to encourage you to go after big dreams and ambitions and to learn the techniques of putting together an Exceptionally Irresistible Deal (EID). 

In this article, we will talk about principles that you can apply today to help you achieve those goals. 

These are the principles that are highlighted in the upcoming book that we are about to release "For The Love of Success - Achieving The 'Impossible' Dream"

Before we dive into the principles, the very first lesson is - "It doesn't matter what your percentage of a deal is, it matters more about how you make the percentage count!" 

Your Challenge: If you have a 0.5% stake in a $100M deal and if you have a 33% of a $500,000 deal - which is better? 

Principle 1: Challenge The Status Quo

Most people said that the way we were going about the deal was insane, "it won't work" we were told.

In fact, many people on our team also didn't believe that our direction was the right way to go about things.

We worked on getting people to change the way they were thinking. We spoke a lot about the difference between the Abundance Mindset and Scarcity Mindset.

Yes, we are in a tough market and economy - but our main belief is that there's always a buyer - we just need to find that one buyer.

We not only challenged what the economy and what people around us were saying, but we kept challenging ourselves too - "keep thinking big, don't budge too much on the price, the right buyer will come, we only need one."

The first principle challenges your way of thinking.

Your Challenge: How are you challenging your limited mindset? Do you allow others to dictate the way you are thinking?

Principle 2 - Be Clear With Who You Are

This one is a tricky one. This one is the principle that enforces and "allows" us to practice principle 1.

How do we challenge the status quo? Based on what?

What belief system do we challenge within ourselves? For what purpose?

This is where principle 2 comes in.

It comes with great deep reflection on who we are - as an individual, as a team, and as a business (organization).

In our major deal, this was our main focus.

"Let's not forget who we are and what we represent?" We would often have meetings discussing why we were sticking to our business approach and we kept reminding ourselves what our purpose and goals were. Keeping focused helped us hush out all the external voices, and helped us all get on the same page to reach the same target.

It became very evident that we were on the right track when everyone on the team was using the same talking points - we were all in unison - no matter who you went to on the team - the story and narrative remained the same!

We got our core foundation solid.

Your Challenge: How are you communicating your purpose and the mission of your organization and/or business? How clear are you and your team on "who you are?"

Principle 3 - Set Goals

We set our price.

1. We first set our rock bottom price.
2. We then set our "hand-shake" price.
3. Then we set our highest asking price.

The reason why we do this multi-tiered approach is so that we have room for negotiations and we are able to run a deal by "predicting" its outcome.

People underestimate the power of negotiations and they don't realize how imperative it is for getting a good deal.

Setting the goal, being very well aware of our strengths, and not caring what people say - were the first three steps that helped us prepare and set the foundation to put this deal into motion.

Your Challenge: What goals are you setting for yourself today? 

Principle 4 - Don’t Fear, Don’t Fret 

Some people on our team were afraid that the markets were shifting and that we won’t end up getting the deal to go through. Most of the time, these types of deals don’t end up working out when recessions are looming. 

We kept our cool and assured the team that we know who we are and what our value is. We will be willing to get creative with the deal but we will not be willing to fall in fear because everyone else has an opinion about markets. 

Your Challenge: How are you overcoming and/or managing your fear in your work environment? 

Principle 5: Keep Pushing

The pushback from some colleagues and potential customers came hard and strong - it was no easy pancake. 

I cannot tell you how many times many people on our team were about to cave into the pressure. 

Lower prices, adjust to the market, change our marketing, etc. 

No. was our reply. 

We are sticking to our guns, we are not changing course. 

We knew very well what we were doing. Why we were positioned the way we were, and if anyone was truly serious about our services and products, they would at least inquire - those that don’t inquire are not serious - we’re looking for a serious buyer. 

Keep pushing is the lesson where we understand and learn to embrace the challenges that come. As long as our intention is aligned and properly evaluated - there is no caving into any pressure. We navigate through the challenge. 

Your Challenge: How are you pushing through when the pressure comes?

Principle 6: Try Everything

When the deal seemed to go stagnant and some of our team members were actually considering that perhaps “they are right” - we are in the wrong market, it’s not the right time to sell - that is when we started implementing principle 6 - “Try Everything” 

Did we do all that we can possibly do? Or is there a stone that was left unturned? 

We all got on the phones and started calling everyone on our contact list that may possibly be interested or who knew someone that may be interested in what we were selling. 

We hit those phones, emails, DMs, etc. hard…

We were determined to keep on pushing, keep trying whatever we can, and we were unwilling to let the fear of what others were saying - we knew what we had to offer, we had a goal, and we were more than happy to push against the grind of the status quo. 

Your Challenge: What stone have you not yet turned?

Principle 7: Show Up

Perhaps the most important principle of them all

It’s all about how we show up and where we show up.

The presence we bring to the table.

In the deal, it was all about our confidence and how we presented what we had to offer, and the type of people we were. Some feedback we got was “Wow, you guys seem to be everywhere”.

That’s what we call being “omnipresent” - being everywhere at any given time.

Not all potential buyers were interested in our product or our business - but they surely left with a very good impression on our team. In fact, it was through one of those connections that we ended up finding the broker who ended up brokering the deal.

You see, we strongly believe, that if it wasn’t for our integrity and the way we conducted ourselves, why in the world would we get referred? 

Your Challenge: How are you showing up? 

Principle 8: Reinvent The Wheel

You literally tried everything

But nothing seems to work out

Well, successful people don't take "no" for an answer. We get creative. 

In our deal, nothing was moving for a really long time and tensions were starting to climb, and people were really starting to get edgy. 

That is when we decided to "reinvent the wheel" and do what no one else does in our industry and market. We started getting creative. All of a sudden, we started getting interest, and people started bidding. When we didn't have a single bid, all of a sudden we had multiple bids in one shot. Some buyers thought we were bluffing, but that's what it takes when you get creative and open up your own doors to your success. 

Your Challenge: How are you reinventing the wheel in your life/business? 

Principle 9: Expect The Unexpected

A key principle to remember when going after a dream is that you are not in control. There is always a greater force at play. 

Therefore - expect the unexpected. 

We will never plan things perfectly. Good enough will often be the best bet. However - when you plan that things will go unexpectedly, you put systems in place that allow for flexibility. 

In our case, we had to be open to new things and stay open. We had to get used to saying “yes” a lot. But remember we still had all the other principles that we needed to apply - in the sense that we didn’t budge on our core values. We got creative and sometimes creativity opens up doors that you never expected were there. 

That’s when we rely on a greater force at play and see how it works out in the end. 

Your Challenge: How are you planning flexibility in your life and business?

Principle 10: Patience

The final principle is to have patience.

Nothing happens overnight - we do not ever have control over the outcome. We simply need to trust the process. If you did all the principles right - there’s nothing for you to worry about. Sit back and wait for the process to do its part.

In the deal, we needed time to wait. We were putting in all the necessary energy, we were taking all the right steps. When we reflected upon why certain team members were having a tough time, we noticed it was because they were lacking this one fundamental principle - they were lacking patience and trust in the system.

Take things slowly - there is huge power in pausing and sometimes actively waiting for things to work out.

Your Challenge: How are you slowing down today? 

Conclusion

These principles do not work in a linear step-by-step way. They each work together and at any given time during the process. It's not a one-size-fits-all, that these are the set-in-stone rules to success. However, using these principles creatively and in a smart way - will be how you reach success. 

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