Deal Breakers: a No Prepisode

A 7-part Series starts today on the NO FOLLOWERS Podcast. The topic: Business Relationships.In our world, partnerships aren’t transactions. They’re the backbone of everything we build. For decades, our community and network have held a 100% retention rate; not because of contracts, but because of trust, clarity and shared work in the trenches.Deal Breakers: A NO PrepisodeIf you want to understand why this matters and why our partners stay for decades; these episodes from the First Strike Incubator break it down from every angle.0:34 A NO Prepisode. 0:56 What are deal breakers for you? 1:23 I think you are using the term "partner" incorrectly. It is more of a collaboration. 1:43 We have to separate customer from partner as they are different levels of deal break. 2:11 Our joint customer was not appreciative off all the bending over backwards we did.2:30 They should have seen beyond the dollar amount. We created more value for them than that.2:50 Most clients don't care about the work. They only care about results. 3:12 I like my customers to feel like they should have paid more.4:16 For me deal breakers are dishonesty, the lying and the b.s.4:50 First level for me is honesty and doing what you say you will do.4:59 Second level is do you understand the depth of work you are asking for.5:38 A customer had $25,000 to build a motorcycle but wanted an $80,000 build.6:09 Even though they only had $25,000, they see an $80,000 bike in their mind.6:32 At that moment we have a fundamentally different valuation.6:53 Isn't your job to educate the customer about the proper value?7:19 There are things you can pick up on in my experience.7:50 I've heard you say, if I have to convince you of the value then you will never get it.8:25 Most people up front don't understand the value of the work involved.8:56 It's not them saying I don't have the budget, I'm fine with that.9:29 I will work with that person all day because they understand what it takes.9:39 Have honest communications and real relationships.9:54 A deal breaker for me is if my expert opinion on time and budget is ignored.10:35 If someone already makes the exact thing you need, buy it from them.10:42 Listen to me. It is never cheaper to make it custom.11:21 A Ferrari 488 is $300,000. If you want me to custom build you one, it would be $1,200,000.11:37 Ferrari already has all the infrastructure, knowledge and experience to build it.12:21 This is based on the past 10 years of doing this and having conversations with many people.12:30 The customer that had $25K and wanted an $80K bike build was never going to be happy.13:18 Despite things going wrong, we delivered. They didn't understand the process.13:35 They are not buying the process. They are buying the finished good.13:55 Have the right conversations up front to set expectations correctly.14:22 Customers don't know what goes into making an iPhone.14:30 Fox makes the iPhone for Apple.15:07 Every client complains at some point. Fox only exists because of Apple.15:15 A more tangible example would be with problems with our new car.16:03 They paid you for a service, they don't care how you get there. They just want it done.16:52 Is that really a deal breaker or are you going to figure it out and renegotiate?16:56 In my experience if you come in with a fundamental misunderstanding, that's a deal breaker.17:31 I would love comments on this to see where people draw the line.17:41 A perfect / imperfect example.18:22 You didn't listen to those red flags.19:10 No matter how good your idea or product is, this doesn't work if you are not coachable.