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“You only have to be right for one day to be a billionaire” – Jay Samit
Jay Samit is one of the most connected executives in the United States. He’s worked with the founders of eBay and LinkedIN (Reid Hoffman wrote the forward to his book Disrupt You!). Recognize any of these artists? Aerosmith, Ozzy Osbourne, Peter Gabriel, Metallica, Van Halen, Soundgarden, Red Hot Chili Peppers, Nirvana, and Guns N Roses. Jay has developed digital products with them. If you want to know how to disrupt the status quo, and despite your small size, jump straight into deals with IBM, Microsoft, Google, Intel and the other bellwethers… get inside this interview where we talk about dealmaking, dealmaking and more dealmaking.
Watch the replay video of Oren on London Real with Brian Rose where he discusses how to pitch and frame the competition.
I have written and spoken extensively that the decisions we make in our business life are rooted deep in our evolutionary past. We came from a harsh world, where daily survival was difficult, and a key goal of life was immediate reproductive success. This made us fiercely competitive for scarce resources: food, shelter, tools and a mate.
Logically, we know we aren’t fighting for survival when we make business decisions, but the paradox is that we often behave as if we were in a survival pattern, even if we are just deciding on accounting software. A sense of survival immediacy can push a buyers’ focus into the here and now, and into making a decision.
So we need to frame our ideas and products to trigger a buyer to become fiercely competitive, as they would for other important and scarce resources. Click to continue…
Why do I feel I need positive feedback from the client at the end of my presentation?
This is called The Need for Action
Taking swift action that might not be called for is quite common in business, but much easier to study in sports. Consider the case of a soccer penalty kick. In this sport, goalkeepers must choose their action before they can clearly observe the direction of the kick coming at them. An analysis of 286 penalty kicks in top leagues and championships worldwide shows that the optimal strategy for goalkeepers is to stay in the goal’s center. To not move at all. Click to continue…
Every time you ask someone to buy your product, you are forecasting the results the buyer will get after the purchase. You are the forecaster. Only you decide which factors to include and which to exclude in this projection. If you, as the forecaster, are not careful to provide equal balance to the possibility of both gain and loss, the buyer becomes fearful you are skewing the forecast.
Buyers have a lot of experience hearing forecasts and projections from people like you.