I have read quite a few books and watched a lot of videos about business and self improvement. The latest book I purchased is The 7 Habits of Highly Effective People..
And essentially, I am searching for some answers or some guidance in some of the things I have come across in life.
One of the questions I have had is why it is so hard to get small business owners working together. I have set up business owners to meet and essentially be able to feed each other customers by cross or joint marketing and when they sit down together there usually seems to be a bit of tension about who is going to get what parts of the deal, and how each other makes money off of it.
I have come to realize that each business owner is going to see the entire deal in a totally different way. And that itself is a hurdle to jump over. It seems that it takes a lot of communication and patience to get the ball rolling on these types of things and starting with small deals is the best way to go…then after a bunch of small deals that have worked out they can build up to bigger ones…or as their businesses grow the small deals just turn into bigger deals.
With all that said, I don’t even think that most business owners think that way. I certainly didn’t for a long time lol, so why would I assume they did as well. So this has come to something that I feel I need to discuss in more detail with each business owner as a kinda of prep or just as good communication.
The next part is that many business owners might not keep in mind the concept of people will blatantly reject a deal if they see the other person getting more than 70 % of the benefit. This has been tested in some studies (sorry I don’t remember what the studies were called or who did them). This is something I keep in mind and have learned I need to communicate this to business owners as well.
The reason for that is I noticed the business owners would often seem to get really upset when it got done to the price of the deal and who gets what, at first I thought it was a negotiation tactic they were using to try to get a better deal but I later realized it was an honest upset reaction to a perception of not getting enough of the deal.
Now that I am reading the 7 habits of highly effective people, the author sheds some like back onto the issue in the sense of how to get people to cooperate. He talks about dealing with a business owner who was trying to get a bunch of his employees to cooperate with each other while rewarding just the one that finished first…obviously this wouldn’t work, and didn’t work for the business owner.
With that in mind I have learned to look at the deal myself to see what I think is a 50/50 deal as an outsider and also to get each business owners perspective on what a 50/50 deal is for them. Then I am able to see how far apart each owner is, how much time it might take to get them to agree on terms or if they are even close enough to be able to make a good deal.
Then, with that I also want to be able to effective communicate a vision of how being a business owner and being an interdependent business fully integrated with other interdependent business owners creates the ability to have exponential growth that is very powerful. In other words, by the two owners working together they get way way more than they put into it…but they might not always be able to see that at first.
The book, also highlights the stages people go through to get to the level of interdependent and this has been very helpful to me, as now I can better assess which stage a person is at when I am talking to them and determine if they are ready to become interdependent when it comes to making a deal.
This book has been fascinating me.