By Paul Yung
There were 2 principles of business that my mother drilled into me. One, always leave something on the negotiation table.
Two, there is enough to go around. Have you ever thought that resources are scarce? That there is not enough money, business, prospects, customers, opportunity for everyone? And that competition is cut throat and in today’s attention starved economy, you either eat or be eaten?
This is an interesting paradox, if we adopt a scarcity mindset, chances are, the people we deal with will adopt the same. He’s so kiam siap, be careful when you deal with him! The paradox is, if we adopted an abundance mindset, others may not, and we end up feeling taken advantage of. Her money is very easy to earn, quote higher, she won’t know!
So, we argue that we need the scarcity mindset of “me first”, the “I don’t have time to think for others because I have family, spouse, bills to pay, etc.” is to keep ourselves safe and not being the fool. I’m not going to say that there are no unscrupulous, scheming, unethical companies and people out there. There are, and most of them are trying to make a quick buck. Be careful!
However, I am a firm believer in being the change that you want to see in the world. After all, an eye for an eye makes the whole world blind.
There’s plenty of evidence to show that resources are in fact, infinite. There is more than enough money, attention, prospects and opportunity to go around. In my business dealings, I constantly think of how we can give more value, service, attention to detail and leave money on the table to build a long term relationships without losing out personally. I drop the “I” and think of the “we”, it’s not how I can win, it’s how we can win.
I can tell you that the number of suppliers and partners who respond positively to this overwhelmingly outnumber those who have taken advantage of me. Our company secretary and auditor, Yvonne from AP Advisory, has worked with me for more than 10 years, and has evolved to become a family friend. Our printer for all things from buntings to exhibition booths, Evonne from Zungyo, has also worked with me for more than 10 years and has also become a close family friend. Our office stationery suppliers, programmers, graphic designers, ad agencies, courier services (we know the truck driver who purposely changes driving routes each time we shift offices so he can service us) and so many more incredible people who are willing to go the extra mile for us because we always leave something on the table.
Newsflash, people recognize sincerity and authenticity. I’m sure you do too. Wouldn’t you go the extra mile for people who you know do the same for you? Maybe doing so for a complete stranger sounds intimidating, but you never know who this person could be in your life and how they will go the extra mile for you when you need it.
So, the next time you are dealing with someone, instead of pressing them or yourself for an inordinate discount, do your research on what a fair market price is and play win-win. Negotiate a second or third order if you want to bring prices down. Are there any other supplies or resources that can sweeten the deal that are non-monetary?
Even if you don’t think you would deal with this person again, your reputation of being a kind and sincere person will precede you, and there will be an abundant of opportunities to collaborate with this person or her circle of influence. This works both ways, whether you are the buyer or the seller. We teach our children to share, what happened to us?
This principle of abundance, bountiful, wonderful, life-giving abundance is one of the key beliefs I use in my business and my personal life to allow myself to step out of fearful thinking and into trusting that there’s enough not just for me – but for all of us.
The law of abundance refers to the unlimited sources of the universe. To put that in other words – it says that everything we could ever need or want is already waiting and available to us.
When you are in a position to add value, don’t hesitate to do so. You will leave a lasting impression on the people you are dealing with. When you are in a position to receive value, go out of your way to thank the person and recognize them for their efforts. Thank the person sincerely, leave a positive review on social media, refer your family and friends.
I believe this is the core to the law of abundance. It starts with us and our daily interactions. So forget the paradox and believe in the law of abundance. The more we give, the more we get and the better off we leave the people around us. Goodness knows we can do with more of that!