Matt Bodnar, entrepreneur, investor, and the creator of Science of Success, joins our show in this special episode of The Justin Stenstrom Show. Matt talks about the art of making a deal and how to make deals where everyone comes out happy. He shares with us his experience with investing in many businesses and the deals and negotiations that it took to make things happen. If you’re wondering how to get better at making great deals and how you can successfully negotiate regularly, check this episode out now!
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In our episode we go over:
- How Matt became an entrepreneur and an investor
- The key difference between deal-making and negotiating
- The art and science of making a great deal
- Putting together a deal and why negotiating is a critical part of this process
- Matt’s experience with making deals and negotiating in the businesses he’s invested in
- How to negotiate better right away
- Matt’s number one tip for negotiating and why most people don’t do this
- Why you need to understand exactly what the other party wants
- Why you should spend approximately 90% of your attention on what their needs are
- The fact that most successful negotiations look for deals in which both parties “win”
- How to not burn your bridges with other businesses that you make deals with
- Having leverage during a negotiation and what this can do for you
- How to have more leverage in your negotiations and your business deals
- Matt’s number one tip for creating more leverage that most people don’t know
- Why removing yourself as the decision-maker is crucial in any type of negotiation
- Why I’ve been using this tactic in my own business for years
- Matt Bodnar’s best takeaway tip about deal-making that you have to hear
Check out Matt on:
Website: mattbodnar.com
Podcast: itunes.apple.com/the-science-of-success
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