A CEO shares how ego cost him in an auction, bidding too fast on a second offer. Bill Canady says his biggest earnings came from deals he walked away from. The lesson: missing a good deal beats making a bad one.
And we were on it at the same time because we were, it was an auction. And at some point I said, stop. That's in my eyes, that was too much. But still my ego was touched. And then I was too fast on the second, on the next one because I absolutely wanted to have it because the other, and I would say that's my key learning. You'd better not make a bad deal than miss a good one.
Boy, there's words of wisdom there. I, the most money I've ever made is from the deals I didn't do because I would've lost so much. And it's hard. I mean, so I try to keep myself somehow separated enough so I can not get emotionally involved because when I get emotionally involved, particularly if you're the person in charge, you, it's hard and you can lose sight of what the goal is because We're competitive and we want to win.
