A different strategy

[Monopoly]

Okay well I guess you're over being asked the same old question "what's your investment strategy" but you can relax because I don't want to know that.

What I'd like to know is how do you deal with a business venture which involves someone you don't like?

Let's face it, to be successful in any business you have to deal with lots of different people, some whom you will enjoy doing business with, others whom you would prefer never to encounter again. But alas...they can (and depending on the nature of your business) be thrown in your path to success.

These types of people may (but are not limited) to:

Current (or previous) tenants who are turning to you for a reference check (and although they weren't bad, you're glad to see the back of them)
Previous PMs or REAs who you may have had a run in with, and is now selling that property you really want!

Grudges are a natural human reaction (for most lesser advanced souls) but is there a place for it in business???

Do or can you look beyond your petty differences with another in order to close a deal???

If so, that's great. If not, how can this impact your success???

As we already know, success is not always about an end result, it is very much a process driven machine, hence in situations where humans interact, emotions such as the ones described above can compromise success.

How do you make the best of a bad situation, for the betterment of your business???

 

[b simpson]

Can be difficult when others don't have the same moral compass as you'd expect..

 

[marg4000]

I think you have to look at the end result you want.

We bought our present PPOR in 1979 - hated the agent, he only worked part time and we had to fit in around HIM, everything he did he treated as a huge favour to us - but he had the house we wanted as a sole agency and we felt it was very good value.

So we sucked it up, played the game his way and got the house.

We raised our family here, still live here, love the convenience, and the value has increased to over 12 times what we paid.
Marg

 

[Rixter]

I keep focused on my destination and not the obstacles along the way.

Remain objective not subjective.

The moment you stray from objective to subjective you sink to their level.

 

[Ocean Architect]

Switch your emotions off and do what is best for you. Money is money no matter where it comes from. At the same time, however, be aware of the emotional toll you are paying by dealing with people that you despise - it's up to you to decide whether or not the mental angst is worth the increased profit or superior portfolio.

Personally I can't stand half of the people that I have to deal with, for numerous reasons. One is a degenerate gambler, another is a pure *** who wont shut up about the chinese prostitutes he lays with for $20 in China, another bunch are complete clowns, several real estate agents are lying duplicitous scumbags who say one thing to me and something else to other people (who then come and tell me because they like me more) but at the end of the day, I'm a financial athiest and only care about results. If I don't like the guy, I am curt, lay out a list of requirements in order for me to make payment, and limit contact. If they hold up their end of the deal, they get paid. If they don't, they don't.

Either way, usual personal rules apply, and only people that I like set foot in my house or get more than a breath of extra oxygen out of me over the phone. The rest of them are biological robots as far as I'm concerned.

 

[Monopoly]

Yes I guess that's what many people forget, that although business is about the money ultimately, dealing with those who are on your bad side to begin with can be very taxing.

You have to (in most instances) as marg said "suck it up and play the game" otherwise you stand to lose what you're aiming to achieve.

Rixter said it well also, you have to stay focussed on the end result.

I've had to deal with many undesirables in the past, and it hasn't always been easy, but the one thing that made it worthwhile and that kept me from suffering too much was the thought in the back of my mind, that this was just "temporary"!!

It is much easier of course if it's a "one off" situation, but goodness knows I'd hate to be dealing with past foes as regular customers, it would be a challenge (to say the least)!!

 

[Rockstar]

I've done a lot of work on my mental state over the past 20 yrs and it has increasingly paid dividends. Undesirable things and people continue to crop up in my life and desirable things don't always happen. When one can develop acceptance of these people and events without judgement then, not only do you reduce your own tensions over the situation, the undesirable people seem to accept you and your point of view easier and with less judgement. When they can sense that you are not judging them they will treat you with more respect. The objectivity in your business dealings and goals remains strong yet is combined with honesty, respect and compassion for those who lack moral character and social skills. The blame game is a game of misery and tension. I change my world around me when I change myself. (still plenty of introspection to be done)

 

[VYBerlinaV8]

I've dealt with a range of people who I would prefer never to speak with or have anything to do with again. So when I come across one of these types I ask myself a simple question:

Does the outcome of the deal or business justify the hassle in dealing with this person?

The answer is usually fairly obvious.

What I NEVER do is go crazy and emotional and bag the person - that just compounds the problem. At the end of the day the deals I do, and my professional work, are largely my choice. If I have a problem with someone at work, I either solve it, avoid them, or quit. I have never had a problem in my investing life large enough to justify getting more than a bit mildly irritated.

I am one of those fortunate and blessed people who seems to get a lot of opportunity, so picking and choosing has become what I do. Should this change, no doubt I'll have to re-evaluate my approach.

 

[pennyk]

I definitely avoid people I dont like, if I have any control over it. Why put yourself through drama and frustration needlessly. I dont think its worth it, whatever the potential benefit. I once went into a business relationship with someone I knew was a bit dodgy and I had some misgivings about...... biggest mistake of my life, and I am exta cautious these days.

I would buy from a REA I didnt like, but not list a property for sale with them. (I'm most likely to dislike someone who is passive and incompetent... these are great people to buy from!)
I wont use tradespeople that I dont like.
Sometimes customers ring, and you just know they are going to be high maintenance/ complainers etc....... I will regularly refer them elsewhere.

But sometimes you have little choice, eg work colleagues etc. Then I would develop a strategy based on the individual person...... grin and bear it, avoidance, clear outcome based complaints etc.

 

[kathryn d]

We have a similar approach as PennyK

 

[Ocean Architect]

I've had to deal with many undesirables in the past, and it hasn't always been easy, but the one thing that made it worthwhile and that kept me from suffering too much was the thought in the back of my mind, that this was just "temporary"!!

I know, but do you ever get the feeling that you exchange one temporary idiot for another temporary idiot? "meet the new model scumbag, now with 10% bonus ballbreaking - but wait, theres more! if you associate with this lunatic, you get a whole posse of his lunatic friends FREE!"

It is much easier of course if it's a "one off" situation, but goodness knows I'd hate to be dealing with past foes as regular customers, it would be a challenge (to say the least)!!

Imagine if they were your partners one of my developer buddies has a meeting with his financial backers and inhales a case of beer immediately afterwards, it's hilarious because it's self inflicted

 

[Aaron Sice]

i don't do "business ventures" with people i don't like.

there needs to be an implicit understanding between you both/all and if something as complex as clashing personality types are getting in the way then it's not going to be a pleasant ride.

life's too short for politics.

 

[Monopoly]

life's too short for politics.

That's true but...

Success of a business can be even shorter if you allow it to stand in the way.