Chapter 22 Twenty-second letter: use strength to make opponents fear

Motto: The more you think you can do it, the smarter you will become. When money is involved, never mention the amount first. When doing business, you must never try to make all your money, but leave a little money for others to earn. (I believe that the world can be changed by man's endeavor, and that this endeavor can lead to something new and better.) February 27, 1901 Dear John: Tonight I met with the mediator, Mr. Henry Frick, and I told him: "As my son told Mr. Morgan, I am in no rush to sell Consolidated Mines. But as you might guess, I Never prevents the establishment of any worthwhile business. However, I am firmly opposed to buyers condescending and setting prices that will try to exclude us, and I would rather fight to the death than enter into such a business." I ask Mr. Frick to pass on to Mr. Morgan , he was wrong.

John, it looks like you're going to have to get on with Mr. Morgan even though you hate that guy.So, I want to give you some advice, let that arrogant guy know what is the evil result of going his own way. Son, a lot of people make the same mistake, they don't know what the hell they do.In fact, no matter which industry you are in, such as oil, real estate, steel business, president, or employee, you are all in one industry, that is, dealing with people.Negotiations are even more so. It is not the business that is at war with you, but the people! Therefore, truly understanding yourself and your opponent is the prerequisite to ensure your victory in the decisive victory.You need to know that preparation is part of the psychology of the game, you have to know yourself and your enemy.If you are going to have a substantial advantage, you must know:

First, the overall environment: what is the market situation, what is the economic situation. Second, your resources: what are your strengths (advantages) and weaknesses (weaknesses), and what capital do you have. Third, the opponent's resources: what is the opponent's asset status, where are his advantages and disadvantages.One of the most important elements of planning a grand strategy in any competition is knowing your opponent's strengths. fourth, Your goals and attitude: The motto of Apollo, the sun god, is only a short sentence: "People value self-knowledge." You need to know what you are doing, what goals you have, how determined you are to achieve them, and think yourself like a winner I still doubt myself, what are my strengths and weaknesses in spirit and attitude.

John, you have to remember my words: the more you think you can do it, the smarter you will become, and a positive attitude will create success. Fifth, the opponent's goal and attitude: try to judge the opponent's goal, and equally important, try to penetrate the opponent's heart and understand his thoughts and feelings. Undoubtedly, the last one - anticipating and knowing your opponent - is the hardest exploit to pull off, but you're going to have to strive for it.Most of those great military generals have a habit, they always try their best to understand the opponent's character and habits, so as to judge the opponent's possible choices and action directions.In all competitive activities, it is also always useful to be able to know your opponents and competitors, because then you can predict the movements of your opponents.Proactive, anticipatory measures are almost always more effective and more powerful than reactive ones, as the saying goes, prevention is better than cure.

In some cases, your competitors may be people you know well, so you have to take advantage of this.If you know that he is a very cautious person, maybe you'd better be careful yourself; if you think he is always impulsive, maybe this is a hint to you that you need to be bold, otherwise you may be cornered by him. However, you don't have to be familiar with your opponents to understand them. As long as you can see clearly, you can find a lot of valuable things at the negotiating table.A good negotiator should be able to see everything.You don't even have to wait until you start making the first move to get to know your opponent.

What we say may reveal or conceal what is on our minds, but our choices almost always reveal our innermost secrets—thoughts, the first choice each of us makes, and the first act that reveals the truth.You have to know what you're talking about in a negotiation, and if you're really in control, you should be able to control what you say to your advantage. Likewise, you must remain vigilant at all times to receive information from your opponent, if so you can maintain a clear advantage, and if you fail to do so, you risk losing another opportunity.You need to know that losing a competitive negotiation means that your chances of winning the next negotiation will be lowered.

The secret to trading is knowing what you can't and what you can trade.Mr. Morgan sees us as scum in the corner to be swept out, but we must remain on the floor.This is non-negotiable.At the same time, he must also give a good price.But you also need to know that when doing business, you must not try to make all the money, but leave some for others to earn. John, you know, we're willing to do this deal because we think it's good for us, that's obvious.However, don't let yourself be held back by such a bright and narrow view. There are too many "smart people" who think that the purpose of the brand is not to trade, but to pick up cheap, hoping to buy things at the lowest price.This time, the price offered by Morgan's side was more than one million lower than the actual value.If he only wants to do this kind of deal, it means that he will lose his chance to become the hegemony of the US steel industry this time.The essence of trading is to exchange value, to exchange what others want for what you want.

The best way to close a good deal is to emphasize its value.And many people make the mistake of emphasizing price instead of value, and often say: "This is really cheap, and you can't find such a low price again." Yes, no one is willing to pay a high price, but outside the lowest price , people prefer to get the highest value. John, in your negotiation with Mr. Morgan, when it comes to money, you must never mention the amount first, but provide him with valuable value, emphasizing what he can buy from you. I believe that people can change the world and reach a new and better realm through hard work.good luck!

love your father