Brief

Resist the temptation to automatically use leverage, as there may come a time where you need the other party’s help or accommodation, writes Ken Goldstein. “Be the kind of person in business people want to call all the time, not just when either one of you has a temporary advantage,” he writes.

 

Insight

Think you’ve got leverage? You might. Now think hard about whether you want to exert it.The success of a business reveals itself over long periods of time. The same is true of a career, even more so.

At any given time, circumstances may go your way. Cheesy television shows that gloss over the true workings of business may suggest this is the time to seize control of a weakened opponent, play the hard angle of opportunism, lower the boom on the boomless.

Certainly that’s one way to play the game.

You’re a property owner and the market is tight. You can play hardball with potential tenants. Maybe that works and they sign the lease without much choice.

Are you 100% sure that’s a great idea?

You’re a well-educated graduate entering the job market where positions that capitalize on your skillset are abundant. You are offered a very fair salary at an employer where you can grow, learn, and evolve your talent. You ask for 50% more. Maybe they say yes because they have a job that needs to be done right now.

Are you 100% sure that’s a great idea?

You’re a broker of commodity supplies suddenly in demand for construction or renovation. Longtime customers ask for your support in quickly completing a needed project without breaking the budget. You tell them you’d like to help, but new customers are willing to pay three to four times what you’ve been paying for the same materials you have stockpiled in inventory. Maybe you get the new asking price from your original customer and your margin soars.

 

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