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If you watched the movie, “The Social Network” that shares the story of Mark Zuckerberg, you will learn that he became an expert negotiator. You may have forgotten that Mark was a young college student when he founded Facebook. Today, he is one of the wealthiest people in the world.

 

Being able to make negotiations with customers, clients, and other businesses is a fundamental part of being a millionaire. It can unlock many doors for you and help you form lasting and valuable relationships that will position you for success. You need to have a command over the negotiation process and use it to your advantage. You also need to know what you want to achieve.

Canadian, Mike McDonald had a knack for gambling and started toying with the idea for “online poker” at the age of fifteen. Though pressured by his parents to get a job, he knew that he didn’t want to do the usual gig. Today he is worth more than $5 million but became a millionaire as a teenager.

 

Mike was prepared and knew what he wanted to achieve and as you can see, it improved his chances of a favorable outcome. If you are negotiating with a person who cannot meet your needs or expectations, it is best to walk away. Otherwise, it could be detrimental to your business.

 

Do you know what you are worth? What do you bring to the table? Knowing what you are worth will help you determine what you can ask for and how much you need to compromise during the negotiation process. You can use your value as leverage for creating a deal in your favor.

 

Fraser Doherty was only 14 when he began making homemade jams using his grandmother’s recipe and opened “SuperJam” that boomed in sales by the time he was sixteen. A grocery store in the UK asked to stock his products and so he took out a $9,000 loan to produce the product. He became a millionaire and now writes recipes that can be found on Amazon.com. Being upbeat and positive made his negotiations go smoother with a positive outcome that turned out to be beneficial to both him and the grocery stores.

 

You can get into trouble if you talk too much or don’t listen to the other person. You might be nervous or want to fill in the silent spots but if you are not satisfied with the deal or price of whatever you are negotiating, take a moment and be silent. Michael Furdyk did not remain silent when he found TakingITGlobal at the young age of seventeen. His company has expanded in more than 200 countries and he now does public speaking, consulting and is a regular guest on many talk shows.

 

Michael learned to ask open-ended questions and that allowed him to gather information that he didn’t know at the time, even at a young age. This will benefit you too in the negotiation process. Take the time to ask questions. You must be clear about what you want to accomplish in your negotiations because otherwise, the other person that you are negotiating with will not know what you are looking for. When you are specific, you can actually speed up the process of negotiating and find a compromise that works for you both.

 

An entrepreneur, Nick D’Aloisio, at age 17, designed an app that is worth over $30 million, according to Yahoo. He started coding at the age of 12 and noticed disparities in the market that prompted him to design his first mobile app. He built strong relationships in the process, continues to build strong alliances and relationships and is fair to everyone that he deals with.

 

It takes practice to negotiate and good negotiating will strengthen your business as an entrepreneur while building solid relationships that will last a long time. Julianne Goldmark and Emily Matson know all too well the importance of building relationships.

 

These two were inspired by the 8th grade when they envied the high-end ties worn by celebrities but couldn’t afford them. One of their Moms had a connection with Jennifer Aniston and cashed in on their creations by their senior year in high school. They now make $10 million a year.

 

Wealthy people do ONE thing on a consistent basis. They spend time building and developing relationships. Building strong relationships is one of the foundations to financial success. Relationships must be cultivated and cherished. Treat them like gold. Each relationship is like money in the bank.

 

You must make deposits and build credit into your relationship bank account, just like you would a financial bank account. The more deposits you make into your relationship bank account, the larger your account will grow and that means an increased likelihood that one or more of these precious relationships will drop an opportunity into your lap.

 

The millionaire mindset understands that life events are important and will often attend all sorts of their contact’s family and friends events. This includes attending graduations, weddings, funerals, wakes, birthday parties and any other celebration of their contacts. Relationships grow significantly from doing this one thing on a consistent basis.

 

It is difficult to accumulate wealth without networking – they are mutually inclusive. Poor networking skills will not help you create wealth.  Good networking skills create all sorts of opportunities that translate into more clients and customers, and of course financial success. Wealthy people are masters at networking and engage in it on a daily basis. In fact, they seek opportunities to network with others. Networking and accumulating wealth are connected in more ways than one.

 

If you want to become a millionaire, you must become a brilliant networker. Keep in mind that networking is a process and is critical to your success. When you network the right way, you gain clients, strategic business partners, customers, networking partners and followers that will translate into more money. Take the time to incorporate networking into your daily routine. Think about it.  No one is successful on his or her own and success does not happen in a vacuum. It takes time and energy to grow and nurture relationships but it is totally worth it. The wealthiest people invest in relationship ‘givers’ and avoid those relationship ‘takers’ like the plague.

 

 

Quick TIP: Take the time to grow and nurture relationships.

 

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