My First Million
The best business ideas come from noticing what's working and doing it better, faster, or for a different audience.
Build trust and gather proprietary information before making any deal proposals
Business executives, entrepreneurs, and anyone in high-stakes negotiations
Single meeting to multiple sessionsWhat Success Looks Like
The other party voluntarily shares information they normally wouldn't reveal, both parties understand the real constraints and opportunities, and the eventual deal is better than either could have imagined initially
Steps to Execute
Prepare by identifying negatives they likely harbor about you
Open by addressing those negatives directly and honestly
Show genuine appreciation for their position and expertise
Use labels and observations to gather information instead of questions
Let them talk 70-80% of the time
Only discuss deal terms after mutual understanding is established
Checklist
Inputs Needed
- Basic research on the other party
- Understanding of your own potential negative perceptions
- Genuine curiosity about their situation
- Patience to let the process unfold
- Specific appreciation points you can authentically make
Outputs
- Proprietary information about their real constraints
- Understanding of their true priorities vs stated positions
- Trust foundation for ongoing relationship
- Better deal terms than initially possible
- Framework for handling future implementation challenges
Example
“A startup CEO meeting with a potential acquisition target. Instead of leading with valuation, they first acknowledge: 'You probably think I'm just another buyer trying to lowball you and strip away what makes your company special.' Then they show genuine appreciation: 'What you've built in this niche is remarkable - most people don't realize the technical complexity involved.' This approach leads the founder to share real concerns about valuation timing and team retention.”