10 Tips On How To Negotiate
Posted in Wealth Building Lessons on Mar 25th, 2008 7 Comments »
I spent the day at the office of a rich hotel owner. He was accepting bids for the construction of a new $10 million, 100 room Hampton Inn, and was kind enough to let me watch the process. I saw two different companies present their bids and both of them had extremely different operating styles. However, the owner and his team had a consistent approach in both cases. They had a rough idea of how much money they were willing to spend on a per foot basis and tried to negotiate on costs that they knew the contractors had some flexibility with. I also saw them put an offer on an adjoining piece of land and I realized what terrific negotiators they were. Just because he was rich didn’t mean he was generous with his money!
