Term

I'm assuming the term "Rolodex" has gone out of fashion, and thus we need a new term to use.

As in:

"Do you have a good accountant in your Rolodex?"

The question is both literal and symbolic. I need a name from you, but I trust your recommendation.

"Address book" and "contact list" doesn't have the same cache. Submissions please.

Peter

Enough

Trying to wring every last nickel out of every single deal may feel good in the moment, but is a long-term losing strategy.

At some point the person across the table will decide that regardless of how wonderful your widget is, the process is too painful to continue.

Pick a margin where you both win, then calculate the five year value of that relationship. That's the number you should be focused on.

Peter

Relationships

We all have those things that we happily pay a premium for.

The well designed product that does more than promised. The vendor that always pulls off your ridiculous request. The barista who asks "The usual, Pete?" when you get to the counter. You perceive value above the price premium you pay, and as long as you continue to find that value, you will happily continue paying extra.

The hard part is finding ways to deliver that level of value to others. It's often more complex than learning customer's names and regular orders.

Peter

The Going Rate

We pay babysitters $1 or $2 per hour over the going rate, and usually round up to a whole hour. The difference on a typical evening out is an extra $5-$10, which in the total cost of the evening isn't much.

Not surprisingly, we can usually find a sitter in two phone calls, if not one. (Text messaging is a great advance in babysitter scheduling. I swear the process only averages 7 minutes regardless of the time of day.)

I try to treat vendors the same way. They are much more willing to help me out when I'm in a pinch if I've been nice to them.

Constantly grinding everyone for the lowest price and most favorable terms is smart in the long run, but I suspect its expensive in the long run. Its hard to find help when nobody wants to take your calls.

Peter

Fear

Our biggest anxieties live in the shadows of our fears. When our daily lives push us into the shadows- well, things start to break down.

They key is understanding each of our shadows, and managing whatever lies within. Its the opposite of ignoring them.

But you elevate yourself to another plane when you are able to help someone alleviate their shadows, especially when their fears are triggered by something that happens to be a strength of yours. Assist them and a problem is solved.

We don't do enough of that in our partnerships. Long term relationships are not built on zero-sum victories, but on win-win. It sounds simple, but becomes hard when the negotiations start.

Peter