You Can Turn Any No Into a Negotiation — Transcript

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1. 0:00All right. So, my name is Brian. My
2. 0:02family owns an aerospace parts
3. 0:03manufacturing company. We did 30 million
4. 0:05in revenue last year and I want to grow
5. 0:06it to 100.
6. 0:08I'm stuck in the middle of a family
7. 0:09conflict. My parents co-own the business
8. 0:11and wants to sell it. They own 51% so
9. 0:14they control the decision.
10. 0:15Um while the other wants to keep it and
11. 0:17grow.
12. 0:19Okay. I grew up uh being told to never
13. 0:21join the family business cuz of how much
14. 0:23stress it puts on the relationship, but
15. 0:24I joined anyway. Now, one parent won't
16. 0:26teach me their side of operations. So,
17. 0:28if they left, I wouldn't know how to run
18. 0:29that part of the company. How do I
19. 0:31convince my parents to keep the business
20. 0:33and let me help scale it instead of
21. 0:35selling it out from under me?
22. 0:40You ask an interesting question.
23. 0:42Because I honestly don't think it's your
24. 0:44I don't think it's your choice.
25. 0:45So, I'll I'll I'll give you two
26. 0:47different answers to this. I think from
27. 0:48a moral perspective, I think your
28. 0:50parents have earned the right to do
29. 0:51whatever the [ __ ] they want with their
30. 0:52business. Can you imagine like for a
31. 0:54second? Imagine just play this out for a
32. 0:56moment. Imagine you know,
33. 0:57acquisition.com worth 30 30 years in the
34. 1:00future, right? We're doing gazillion
35. 1:01dollars.
36. 1:02And you know, the kid that I have is
37. 1:04like, "How do I convince my dad to not
38. 1:06sell the business?" I'd be like, "Bro,
39. 1:07this isn't your [ __ ] call."
40. 1:11Like this is I mean like you've lived a
41. 1:12great life. This is not your call.
42. 1:14My two cents. Now,
43. 1:17the self-serving side. I will answer
44. 1:19this way. Which is
45. 1:21I think defining what we want to have
46. 1:22happen.
47. 1:23And then I like to ask the question,
48. 1:25"What would it take?"
49. 1:26And so, if I want something
50. 1:28uh from somebody who does not want to
51. 1:29give it to me, I ask the question, "What
52. 1:30would it take?" And then they get to
53. 1:32name their price. And then that price
54. 1:33can be worth it for me or not. And I
55. 1:35think often times when you ask, "What
56. 1:36would it take?" people assume you are
57. 1:38unwilling to pay a price that they have
58. 1:39not named.
59. 1:41And I cannot tell you the amount of
60. 1:42times I've gotten things in life
61. 1:45that have that most people considered
62. 1:46unreasonable because they determined a
63. 1:48price that they thought was
64. 1:50unreasonable, but they were selling it
65. 1:51of their own wallet. Their own wallet of
66. 1:53time, their own wallet of money, their
67. 1:54own wallet of tradeoffs, their own
68. 1:55wallet of embarrassment, of shame, of
69. 1:57guilt, of whatever price they thought
70. 1:59that I was unwilling to pay to get the
71. 2:01thing that I wanted.
72. 2:02And so, I would I would really start
73. 2:05with the question of um
74. 2:06what do I want to have happen?
75. 2:09Uh number two, what would it take? And
76. 2:11then number three, I would ask them what
77. 2:13they want. Now, I'll be I'll I'll give
78. 2:15you like a layer underneath of this for
79. 2:16your parents,
80. 2:17um which is that no one sells a company
81. 2:20because they want to sell a company.
82. 2:21Selling a company is incredibly painful.
83. 2:23It's a very long process. There's lots
84. 2:24of lawyers. It's not that fun. They're
85. 2:26selling the company because of what they
86. 2:28believe the benefit of selling the
87. 2:29company is.
88. 2:30And so, the idea would be
89. 2:32how can I help you get what you want
90. 2:34without selling the company?
91. 2:36And there's a lot of different
92. 2:38structures that you can do where you
93. 2:40could buy it from them, you can get a
94. 2:41lender, you could do an ESOP. Um if they
95. 2:43want a liquidity event, maybe they just
96. 2:45want their time back. Like there's a lot
97. 2:46of other levers that you can use um
98. 2:51to help them get what they want. And I
99. 2:52think that's pretty cool. And so, uh on
100. 2:55one angle from a moral side, I think
101. 2:56it's their call.
102. 2:57On the like if you want to get what you
103. 2:59want side, then I would go at it from
104. 3:01like what do you want to have happen?
105. 3:03And I know what I want to have happen.
106. 3:04They want this to happen. Great. Can I
107. 3:06get that another in any other way
108. 3:07besides uh you selling the company? The
109. 3:09answer is yes. I can almost guarantee
110. 3:10you at the size of your app. Um and then
111. 3:13underneath of that like what would it
112. 3:14take for me to get what I want? Just
113. 3:16tell me the price and then I'll decide
114. 3:17if it's worth it or not.
115. 3:19All right. If you like this video and
116. 3:20you're a business owner who wants to
117. 3:21break through your current revenue
118. 3:22ceiling, I just sold every lesson from
119. 3:24scaling 10 businesses past 10 million
120. 3:26and three businesses past 100 million
121. 3:28into a completely free scaling road map
122. 3:30that I've used to go from zero to one,
123. 3:31zero to 10, and zero to 100 plus. And
124. 3:34so, you can click here and you can check
125. 3:35it out. Again, absolutely free. And
126. 3:37since you're a business owner, I
127. 3:37appreciate you and enjoy.