Mo asks Bill Ruprecht: What is a story of business development that you are particularly proud of?
- A business like Sotheby’s is a transaction business so Bill had been involved in thousands of transactions over the course of his career but one tale in particular stood out to him.
- Bill traveled down to Florida to help an older lawyer sell $20 million in vintage cars and that began a 9-month process of negotiating. After months of back and forth, they finally signed the deal, and the auction itself was widely successful.
- In extended negotiations, as the professional, you know what it will take to make the deal successful. It’s common for the other party to not fully know what they want and the key is to just keep the conversations going.
- When the other party doesn’t know what they want, negotiating becomes a marathon or experimenting and exploring until they land on what was missing from the conversation.
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