0:00

Over my career acquiring and scalar businesses for

0:02

acquisition.com I've done a lot of deals. I

0:04

want to put the five most brutally effective

0:06

tactics that I know in one video for

0:08

you. A lot of these things I didn't

0:11

actually learn from books. I learned them from

0:13

mentors and actually seeing them do it and

0:15

learning like in the streets in the real

0:17

world. Most itty bitty tactics like don't actually

0:20

drive the needle, but these five actually have

0:22

gotten deals done and improve my situation or

0:24

standing in the deal. So let's talk about

0:26

it. There's three contexts that you're going to

0:29

use each of these skills with. The

0:31

first is with employees, and this goes

0:33

both ways. You're an employee trying to

0:35

negotiate with an employer, then that applies.

0:38

The second is going to be vendors.

0:40

Now this also applies. Now this also

0:42

applies if you're a vendor. Now this

0:44

also applies if you're a vendor who's

0:47

dealing with customers. And then third, you've

0:49

got what I would consider partners. This

0:51

is when you do deals, things like that.

0:54

Even if you don't have a business,

0:56

you are an employee. And if you

0:58

are an employee and you don't want

1:00

to use that, you certainly have vendors

1:02

that come to your house and do

1:04

things for you. Like, this is the

1:07

fruit of life. You have to negotiate

1:09

and you get what you negotiate, not

1:11

what you deserve. That may sound

1:13

not fair, but it's also the

1:15

truth. Number one, this is actually

1:17

from a Harvard business school thing

1:19

that I learned from Sharon Servataa.

1:22

It's called Batna. So what does this

1:24

really mean? Research has shown that having

1:26

strong badna, basically a strong alternative, gives

1:28

you significant leverage in negotiations. Negotiations is

1:30

all about leverage. London Business School did

1:32

a study and they found that negotiators

1:34

who know their alternatives set higher aspirations

1:36

so they ask for more. They make

1:38

more aggressive first offers and they negotiate

1:40

ultimately better outcomes. So your batna serves

1:42

as almost like an anchor, a counter

1:44

anchor that you have in the back

1:46

of your mind of what you're negotiating

1:48

with. It's kind of like a source

1:50

of power. It's a decision standard that

1:52

you only accept deals that are better

1:54

than your best alternative. You can think

1:56

about this in any setting. So if

1:58

you're with any setting. 10s, if a

2:01

seven comes along, you're like, well, my alternative

2:03

is a 10, so I'm only dealing with

2:05

10s. If someone says, hey, I'll be willing

2:07

to buy all of your inventory for 10

2:09

bucks a piece, and somebody else comes along

2:11

and says, I'll do it for nine. Instead

2:13

of just saying, no, you're like, I'll do

2:15

it for 1050, or I'll do it for

2:17

11, you can edge them up, but if

2:19

you know that it's not gonna matter, then

2:21

it's not gonna matter. that we like a

2:23

lot. I really like the house we have.

2:25

My best alternative to buying this house is

2:27

doing nothing and just enjoying the home that

2:29

I already have. They're in a terrible position

2:31

because right now I know that they haven't

2:33

had anyone else who's bid on the property

2:35

because it's aggressively priced off to put that

2:37

way. It's them versus me and it's who

2:39

wants it less. The reason badness is so

2:41

important because you're like, okay, I get that,

2:43

how do I have a best alternative to

2:45

a negotiated agreement? You win negotiations and I'm

2:47

starting with this one because I think it's

2:49

all five of this or six or ones

2:52

that I'm going to show you're going to

2:54

be so important. But this one is probably

2:56

the greatest source of psychological power. And you

2:58

do this before you do this before you

3:00

sit down to the table. me going to

3:02

look at these homes, I know I don't

3:04

have to buy the homes. When I was

3:06

selling gym launch and prestige labs, I was

3:08

like, I can just keep the businesses and

3:10

they'll just keep making me money. I don't

3:12

need to sell them. And from negotiating for

3:14

that position, you only want to sell when

3:16

you don't want to sell. You only want

3:18

to sell when you don't want to buy,

3:20

because you have something else. If you're looking

3:22

for jobs as an employee, you want to

3:24

negotiate when you already have another offer. You

3:26

can only do that so many times before

3:28

you start losing goodwill. So you have to

3:30

make sure that you're balancing that well. If

3:32

you're dealing with a vendor, then you're like,

3:34

OK, I'm going to get multiple bids before

3:36

I'm going to decide to work with you.

3:38

Because these are what I'm considering. You'll get

3:40

so educated from actually negotiating four or five,

3:42

six of these vendor agreements that you'll learn

3:45

other terms that other people include that you

3:47

can use, which a later strategy that I'll

3:49

explain. first offer within the negotiation with one

3:51

guy, but then you have that offer compared

3:53

to all the other officers you're ultimately you'd

3:55

get to do the work. On the vendor

3:57

side... It's reversed. What's my best alternative? What

3:59

are my other customers? If I've got 20

4:01

other customers, you've got people banging on the

4:03

door, it's a supply demand thing. So I've

4:05

got more demand for my services than I

4:07

have supply. And so if you don't want

4:09

it, don't worry, I've got another customer behind

4:11

you. And so if you don't want it,

4:13

don't worry, I've got another customer behind you.

4:15

And so this is the leverage, that we've

4:17

got another customer behind you. And so this

4:19

is the same. Don't worry, I've got another

4:21

customer wanting, I've, I've, I've, I've, I've, I've,

4:23

I've, I've, I've, I've, I've, I've, I've, I've,

4:25

I've, I've, I've, I've, I've, I've, I've, I've,

4:27

I've, I've, I've, I've, I've, I've, I've, I've,

4:29

I've, I So no matter what, all of

4:31

this is one before you sit down to

4:33

the table. Right now, if you sit down

4:35

and you need this deal and you have

4:37

no other offers, all the little tactics that

4:40

you can try, sure, you can try to

4:42

do it, but the things that it's just

4:44

trying to win at poker, only on bluffing.

4:46

It's a bad position to be in. I

4:48

would rather have pocket aces. If you have

4:50

other offers, there's two different ways of thinking

4:52

about this. So one is, you can be

4:54

overt about it. If you can't, no worries,

4:56

we don't even waste time. The other way

4:58

is that you just have it in the

5:00

back of your mind, and then you just

5:02

see what you can get, because the thing

5:04

is, somebody else is giving you a $10

5:06

offer. If you say, hey, I've got a

5:08

$10 offer, maybe this person will just beat

5:10

it by 1025. But if you have the

5:12

confidence that you know you're going to sell

5:14

the confidence that you're, maybe this person will

5:16

just beat it by 1025. But if you

5:18

have the confidence that you know your plan

5:20

B is not because you know your plan

5:22

B is not bad. Real quick, if you're

5:24

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5:26

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trying to scale, we'd love to help you

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out. We'd love to help you. We'd love

6:17

you. Now the second is a big one

6:19

and a lot of negotiation books and courses

6:21

and stuff talk about this and people are

6:23

like hey I'm not trying to anchor here

6:25

it doesn't matter if you say I'm not

6:27

trying to anchor here it's an anchor and

6:30

anchor is the first number that is set

6:32

in a negotiation If you're like, hey, what

6:34

do you think you'd be willing to do

6:36

this for? And someone's like, ah, I was

6:38

thinking, I could maybe do it for $2,000.

6:40

That's now the anchor. You want to get

6:42

less than that? And you were like, shoot,

6:44

I was hoping for 500. Well, something you

6:46

should have said 500 first, because now they're

6:48

2000 is ridiculous. You should have said 500

6:50

first, because now they're 2000 is $500. You

6:52

should have said 500 first, because now they're

6:54

2000, because now they're 2000, you should have

6:56

said, you should have said, you should have

6:58

said 500 first, you should have said, you

7:00

should have said, you should have said 500,

7:02

you should have said 500, you should have

7:04

said 500 first, you should have said 500,

7:06

you should have said 500 first, you should

7:08

have said, you should have said 500 first,

7:10

because now, you should have said 500, you

7:12

should have said 500 first, because now, you

7:14

should have said 500 first, because now, because

7:16

now you're like no I love so much

7:18

money on the table so I'll give you

7:20

a little pro tip that I've learned being

7:23

on the other side of this if I

7:25

have somebody who comes to me and says

7:27

hey I'll do it for $2,000 and I

7:29

would have paid five and I say yeah

7:31

$2,000 works the next thing I do is

7:33

I say hey and if you were curious

7:35

of whether I would do it for $2,500

7:37

I wouldn't have done it. And the thing

7:39

is that it puts them at ease, that

7:41

like, you know what, you wouldn't have done

7:43

more. And what happened is I bought a

7:45

super expensive penhouse a few years ago. And

7:47

after I bought it, the guy who sold

7:49

it to me, obviously a wealthy guy too,

7:51

he said, hey, we accepted your first offer,

7:53

he got, he said, hey, we accepted your

7:55

first offer, and you're first offer, and you're,

7:57

he said, hey, we accepted your first offer,

7:59

I was, I have no idea. But in

8:01

the moment, actually, actually, like, like, like, like,

8:03

like, like, like, like, like, like, like, like,

8:05

like, like, like, like, like, like, like, like,

8:07

like, like, like, like, like, like, like, like,

8:09

like, like, like, ease by just saying hey.

8:11

I wouldn't have done it for any less.

8:13

I wouldn't have done it for any more,

8:15

whatever. What's interesting is that Daniel Nobles Prize

8:18

winner figured out that people give excessive weight

8:20

to the initial information and make insufficient adjustments

8:22

from that starting point. It's a psychological bias.

8:24

Basically, it's like you want to anchor as

8:26

high as possible. That's possible. Basically, it's like

8:28

you want to anchor as high as possible.

8:30

That's why I'm a big advocate of getting

8:32

the whole negotiation numbers to way way way

8:34

way way way way way way higher. was

8:36

thinking 10, their increments now become the entirety

8:38

of what they were willing to pay. They're

8:40

going to be like, can you do it

8:42

for 80? All of a sudden we're thinking

8:44

in $20,000 increments. As a side note, you

8:46

can also incur increments. So explain what that

8:48

means. I'll actually walk you through the house

8:50

negotiation that I'm actively in right now. The

8:52

house was listed at $25 million. Then they

8:54

dropped it to $20 million. They

8:56

countered and said we'll do it for

8:59

16-9 So big move on their part,

9:01

right? They're moving aggressively They're trying to

9:03

sell the house. They moved a lot

9:06

towards me because they're trying to get

9:08

a deal done The natural thing that

9:10

some people might think is okay. They're

9:13

at 17 year at 15 counter with

9:15

16 here So what I did is

9:17

I counted with a 15.25? So they

9:19

moved 3 million I moved up 250

9:22

250. What am I indicating? I'm not

9:24

willing to move very much. I'm going

9:26

to, out of reciprocity, which we'll cover

9:29

later, I'm willing to move a little

9:31

bit, I'm going to make some counteroffer,

9:33

but I'm not going to give a

9:36

lot. Then I can stack in other

9:38

terms that make it more amillurable for

9:40

them. I have two other things that

9:43

make it more amillurable for them. My

9:45

initial offer, I have two other things

9:47

that make it more amillurable for them.

9:49

My initial offer is refurbishing. by making

9:52

it all cash, but then I also

9:54

said I also want the $4 million

9:56

of furniture that's in the house. Real

9:59

quick guys, I have a... special gift

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For, slash, slash, road map. which

10:52

is technically a worse second offer than my first offer. But the thing is

10:54

that I moved the number up and a lot of people are always way

10:57

too fixated on the price and not enough on the terms. One is we

10:59

anchor with our original price and also in the increments that we move in.

11:01

This was something that took me actually in the increments that we move in.

11:03

This was something that took me actually a while to the increments that we

11:05

move in. This was something that took me actually a while to actually a

11:07

while to a while to a while. And this. And this took the increments

11:09

that we moved. And this was something that we moved. And this took the

11:11

increments that we moved. And this was something that took me. This was something

11:13

that took me. It took me. It took me. It took me. It took

11:15

me. It took me. It took me. It took me. It took me. It

11:17

took me. It took me. It took me actually, it took me actually a

11:19

while. It took me actually a while. It took me actually a while. It

11:21

that they had kind of nicked a corner of it, just from moving it

11:23

around or whatever happened, right? It was a small nick, but it was noticeable.

11:25

My partner goes to the guy and he says, hey, how much would it

11:27

cost you to replace this? And the guy, of course, because he doesn't want

11:29

to rebuild the whole thing, he's, oh my God, it would be a huge

11:31

deal, just this, and the guy, of course, because he doesn't want to rebuild

11:33

the whole thing, he's, oh my God, it would be a huge, it would

11:35

be a huge, it would be a huge, it would be a huge, it

11:37

would be a huge, it would be a huge, it would be a huge,

11:39

it would be a huge, like, like, like, like, like, like, like a pretty

11:41

good, like a pretty good, like a pretty good, like a, like a pretty

11:43

good, like a pretty good, like a, like a, like a, like a, like

11:45

a, like a, like a Nasty. I

11:47

was like, oh, I'm going to use that. If

11:50

there's ever someone who messes something up, instead of

11:52

saying, hey, what can you knock off the price,

11:54

ask them what the big inconvenience would be for

11:56

them, ascribe a price to it, and then... They

11:58

have a hard time backing down from that because

12:01

they just said, that's how much it would cost

12:03

them to fix it. Then you should probably discount

12:05

us by that much because that was the size

12:07

of the mess up. So you get them bidding

12:10

for themselves and then you flip it. So number

12:12

three, I learned this from a different mentor. They

12:14

call it mesos, but basically multiple equivalent simultaneous offers.

12:16

So what does that mean? That means that I

12:19

present, offer A. or just offer A&B. It doesn't

12:21

really matter. You can have two offers, you can

12:23

have three offers, and each of these have different

12:25

prices and terms associated with them. And so what

12:28

happens is when you make multiple equivalent offers, it's

12:30

like embedding reciprocity. It's like, hey, I'm trying to

12:32

be reasonable. I just want to figure out what

12:34

works best for you. It's like, hey, I'm trying

12:37

to be reasonable. I'm, I'm trying to be reasonable.

12:39

I'm going to be reasonable. I'm reasonable, reasonable. It's

12:41

a reciprocity. It's like, it's like, it's like, it's

12:43

like, it's a reciprocity. It's like, it's like, it's

12:46

like, it's like, it's like, it's like, it's like,

12:48

it's a reciprocity, it's like, it's like, it's like,

12:50

it's like, it's like, it's like, it's like, it's

12:52

like, it's like, it's like, it's like Ideally, something

12:55

that's important to you is not important to them,

12:57

and they give you this one and something that's

12:59

important to them, that's not important to you, you

13:01

give to them. And that's fundamentally a good negotiation.

13:04

One of the big things that I misunderstood in

13:06

the beginning is that I assumed negotiation was a

13:08

zero-sum game. And it's never a zero-sum game. Because

13:10

you're a zero-sum game. Because you're a zero-sum game.

13:13

Because you're a zero-sum game. Because you're. Because you're

13:15

a zero-sum game. Because you're. Because you're a zero-sum

13:17

game. Because you're a zero-sum game. Because you're a

13:19

different person. Because you're a different person, you have.

13:21

You have. You have. You have. You have. You

13:24

have. You have. You have. You have a zero-a.

13:26

You have. You have. You have a zero-a. You

13:28

have. You have. You have. You have a zero-a.

13:30

You have a zero-a. both parties are better off

13:33

from basically giving and taking in places that are

13:35

less meaningful to them and more meaningful to the

13:37

other person. Journal of Personality and Social Psychology showed

13:39

that presenting multiple equivalent offers simultaneously increases the likelihood

13:42

of finding mutually to finding mutually beneficial solutions. This

13:44

approach demonstrates flexibility while also maintaining your core interests

13:46

because you're the one who's presenting all... any of

13:48

these I said already worked for me. Let me

13:51

give you like a real word example. So let's

13:53

say option A is lower monthly fee with a

13:55

longer commitment. Option B is a higher monthly fee

13:57

but has premium support. And then option C is

14:00

kind of like a pay as you go with.

14:02

higher rates but maximum flexibility. So all three options

14:04

will give you similar overall value but you might

14:06

look at them and be like I just want

14:09

to know which one meets your needs better. From

14:11

their answers you'll be able to understand their motivations.

14:13

Now let me tell you some knowledge from the

14:15

street. If someone gives you multiple offers if you're

14:18

on the other side of the table, what I

14:20

like to do is say I like the best

14:22

part of this one and I like the best

14:24

part of this one and why don't we make

14:27

an offer that is the best of all three.

14:30

And I learned this from my friend Sharon.

14:32

Guy's done more deals than anyone I know.

14:35

I was like, ooh, that's good. So the

14:37

flip side is you could ask someone, hey,

14:39

can you give me two or three versions

14:41

what this deal might look like? And then

14:43

they come up with their versions of the

14:45

deals, the deals, the deals, and then they

14:48

come up with their versions of the deals,

14:50

the deals, and then you say, the versions

14:52

of the deals, the deals, and then you

14:54

say, great, great, great, I like, I like,

14:56

and then they come up with their versions

14:58

of their versions of their versions of their

15:01

versions of their versions of their versions of

15:03

their versions of their versions of their versions

15:05

of the deals, the deals, the deals, the

15:07

deals, the deals, the deals, the deals, the

15:09

deals, the deals, the deals, the deals, the,

15:11

the, the, the, the, the, the, the, the,

15:13

the, the, the, the, the, the, the, the,

15:16

the, the So, number four, reciprocity. Now, reciprocity

15:18

is key in all sorts of persuasion, and

15:20

I'll say this one caveat that I believe.

15:22

Reciprocity only matters in cultures where reciprocity matters.

15:24

There are cultures where reciprocity is not nearly

15:26

as important. This is where sometimes when cultures

15:29

mix, people take advantage of systems because that's

15:31

not as important in the culture they came

15:33

from. And so, the culture where the person

15:35

is giving first in order... because they expect

15:37

something back, the other culture will just take

15:39

advantage and be like, look at the city.

15:42

He just gave me some free stuff. And

15:44

so you'll have to make sure that basically

15:46

you're within a culture or society that reciprocity

15:48

is the norm. But if it is the

15:50

norm, there's huge amounts of things that you

15:52

can use from a persuasion perspective. So the

15:55

beauty with how we structure reciprocity is that

15:57

people are more sensitive to the fact that

15:59

they gave something and you give something. What's

16:01

more difficult is ascribing the relative relative value.

16:03

Let's say that I take someone's order from

16:05

the counter and I bring it to the

16:07

table where we're both eating lunch. The person

16:10

might say thank you for doing that. If

16:12

I then said, hey, can you pick me

16:14

up and drop me off from the airport

16:16

tomorrow? I mean, I did get you your

16:18

lunch yesterday. The thing is that it poses,

16:20

it looks like, it smells like reciprocity, but

16:23

the value of those, it smells like reciprocity,

16:25

but the value of those two concessions, it

16:27

smells like, but the value of those two

16:29

concessions are wildly different. pieces as possible so

16:31

I can trade more times. So like this

16:33

house example that I gave you earlier, if

16:36

I have 15 million but this thing is

16:38

going to be financed, can I go cash

16:40

or financed, I can do closing period. I

16:42

can say it's a 90-day closure, 30-day close,

16:44

that's going to be significantly more valuable. I

16:46

could say furniture versus not. There's other terms

16:48

that we can basically weave into the deal

16:51

that I'm not going to play all those

16:53

cards at once. Now this one is a

16:55

realist trade strategy, so it's much more straightforward.

16:57

But a transaction like this, it's like you

16:59

want to think, what are all the variables?

17:01

We want to use all the value equation

17:04

variables. Speed, how can I deliver this faster?

17:06

On top of that, we have the risk

17:08

associated. So who's going to be taking on

17:10

more risk in this situation? And what are

17:12

the different types of risk that someone's taking

17:14

on? Then we have ease. How can we

17:17

make this easier or harder for the other

17:19

person? For each of these components, you want

17:21

to take whatever you're offering, whether it's an

17:23

employee, or whether it's a vendor, or whether

17:25

it's a deal. I want to look through

17:27

each of these lenses and think, how can

17:30

I... have more variables at my disposal so

17:32

that when it comes to the horse trading

17:34

I can make a small concession in ease

17:36

and they only have two variables and I've

17:38

got five and when I have five I

17:40

can give without changing my price and say

17:42

hey I'll do 15 with ease with ease

17:45

and risk and then they come down from

17:47

16 to 15 with ease and risk and

17:49

then they come down from 16 to 15.5

17:51

and I say cool I'll do 15 with

17:53

ease risk and speed. And so when we

17:55

do it like that, then all of a

17:58

sudden it's like I'm still keeping the reciprocity,

18:00

but I just have more arrows in my

18:02

quiver. When you're sitting down to the table,

18:04

you want to think through all of these

18:06

different variables that you have at your disposal.

18:08

For me, I have this big deal sheet

18:11

that has 80 different things that I can

18:13

change about a deal so that when I

18:15

go into the conversation, they're assuming the deal.

18:17

just as these two things, then everything else

18:19

is the way they want. And for you,

18:21

you have 80 other variables that you're like,

18:23

oh, I can change this one, I can

18:26

change this one, I can change this one,

18:28

and that allows you to stay in reciprocity

18:30

with the other person. That ultimately gets you

18:32

a better deal long term. So as we're

18:34

thinking through this, if we sit down on

18:36

the table, and we have one or multiple

18:39

other offers that we think are really compelling

18:41

and interesting. And we use that as our

18:43

psychological power. right acre high in terms of

18:45

our initial acre low in terms of our

18:47

counter offers and then we have multiple simultaneous

18:49

offers that are either presented to us or

18:52

that we can present to somebody else using

18:54

more variables and then horse trade with reciprocity

18:56

so we can stay in the pocket but

18:58

still more or less stayed the same initial

19:00

offer then we're probably going to increase likelihood

19:02

that we get a good deal done. Number

19:05

five is framing I would say this is

19:07

Most important especially for employees and vendors less

19:09

so for partnership type or like M&A type

19:11

stuff But it can probably also be important

19:13

here, too But I'll just give more use

19:15

cases in these two right now So if

19:17

we're talking about framing then how we position

19:20

something is going to matter a lot. So

19:22

if I'm an employee selling to an employer,

19:24

which is fundamentally what we're doing, I would

19:26

probably say something to the extent of we

19:28

want to make investments in these places, and

19:30

I see me coming in as an investment,

19:33

not a cost. And ideally, if we frame

19:35

this as how am I going to get

19:37

a return on this investment, then I'm no

19:39

longer a cost center in the business at

19:41

all because I'm just a percentage commission essentially

19:43

on what I'm bringing in the business. I'm

19:46

going to frame it based on return, not

19:48

based on overhead. On the flip side, you

19:50

always want to reframe the other way, which

19:52

is you want to reframe this is cost,

19:54

you want to reframe this is overhead, so

19:56

that ultimately you have more basically negotiating power

19:58

because you're pushing them down, they're aching them

20:01

down, they're aching themselves up. A lot of

20:03

times people don't even understand the frame that

20:05

you present. So rather than saying, hey, this

20:07

isn't cost you five grand. If that's the

20:09

reality, then it's going to... be far more

20:11

compelling and far more likely person is going

20:14

to accept your offer even though functionally it's

20:16

the exact same thing. I was talking to

20:18

a few home services businesses that do kind

20:20

of construction stuff and so I talked to

20:22

a pool guy, talked to a patio guy,

20:24

talked to an awnings guy who did like

20:27

awnings on top of patios and I said

20:29

do you have any data that shows resale

20:31

value of homes that have awnings versus not?

20:33

Or do you have any data on resale

20:35

value of the specific neighborhoods that you're going

20:37

to go into of pool versus not pool

20:40

versus not pool? If someone knows they spend

20:42

$100,000 in a pool and adds $100,000 in

20:44

their house, I'm like, then the pool's free.

20:46

Except you get to enjoy the pool the

20:48

whole time. So we shouldn't even be talking

20:50

about that because you're really just taking it

20:52

from one pocket and putting it to another.

20:55

You're really just taking it from one pocket

20:57

and putting it from one pocket and putting

20:59

it into another. You're really just taking it

21:01

from one pocket and putting it from one

21:03

pocket and putting it into another. You're just

21:05

taking it from one pocketing from one pocket

21:08

and putting it from one pocket and putting

21:10

it from one pocket and putting it from

21:12

one pocket and putting it from one pocket

21:14

and putting it into another. It's a very

21:16

different conversation. So tactically, when you're in one

21:18

of these situations, we want to have the

21:21

data to support our argument for whatever our

21:23

framing is. And typically it's going to be

21:25

some sort of return, especially if it's a

21:27

monetary thing, right? We want to frame it

21:29

in terms of what the image is. And

21:31

so the strongest business is in to say...

21:34

Look at the other 10 houses that sold

21:36

in this neighborhood. Look at however many deals

21:38

that have been done. They all had these

21:40

components. The ones that didn't suffer this sort

21:42

of loss. And you know what? Maybe it's

21:44

not a one-to-one ratio. It costs you 100

21:46

grand and the houses with pools, it's an

21:49

extra $50,000. Okay, let's not frame it as

21:51

100. We can frame it as half off.

21:53

But you also get to enjoy the pool

21:55

for that whole time. And so if you

21:57

think you're going to sell... this in how

21:59

many years, do you want to enjoy it

22:02

and barely pay much at all over that

22:04

period of time? Probably rock and roll. If

22:06

you like this video, you're going to love

22:08

the 13 years of brutal business lessons that

22:10

I have learned over my career. Enjoy.