Steve VarsanoFounder at The Jet Business

Do the ultra successful share similar characteristics?

Name: Do the ultra successful share similar characteristics?
Uploaded: 2023-09-24T22:23:14+00:00
Duration: 59 s
Channel: Steve Varsano
Description: In this commentary, the speaker reflects on whether ultra‑high‑net‑worth individuals—billionaires and top corporate executives—share a common negotiation…

24 Sept 2023 · 1 min

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In this commentary, the speaker reflects on whether ultra‑high‑net‑worth individuals—billionaires and top corporate executives—share a common negotiation style. He frames negotiation as a game that successful people enjoy, noting that while everyone seeks an advantage, the most effective negotiators understand that trying to extract every cent makes them unpopular and harms future business. Instead, they practice a give‑and‑take approach, leaving a portion of value on the table for the other side. The speaker argues that the closer a deal comes to a balanced 50/50 outcome, the better the relationship and the higher the likelihood of ongoing collaboration, even though perfect equality is unrealistic.

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It's hard to say whether these ultra-high-net-worth people, billionaires or corporate executive types, really have the same style. I think everybody has their own unique style. I think it's part of the act of negotiations is just part of the game. It is a game. Of course, nobody wants to overspend, nobody wants to give away something for less than the price that they're trying to get, but the act of negotiation is really something that most of these successful people thrive on. And everybody's trying to get the upper hand, everybody's trying to win a little point here, a little point there. Ultimately, you you're never going to get 100 cents on every dollar, and if you really try to get everything from the other side, you're going to become a hated person and nobody's going to want to do business with you. And I think the real successful people understand that, and there's a give and take, and you don't try to get 100 cents. You've got to get a percentage of it, and you have to leave a little bit on the table for the other side. So really, you're not going to have 50/50 in happiness in any transaction, but the more balanced you get to 50/50, the better the deal, and the more chances are that you're going