ITC – Due Diligence and the Secrets of Empowering Negotiation

Richard KayeDr. Richard Kaye, retired chiropractor, speaker, and author, joins Justin Recla to discuss due diligence and the secrets of empowering negotiation. After 30-years in private practice, Richard retired to pursue entrepreneurship. He has appeared on numerous TV and radio shows and is an internationally acclaimed lecturer. He is the author of the highly acclaimed book, The Secrets of Creating Customers for Life, and is a master negotiator. Listen in as he reveals several secrets for harnessing the power of due diligence in the negotiation process.

This is the In The Clear Podcast and I am your host Justin Recla and today we are talking to, we’re actually talking to one of my very, very first mentors in the business world. I’m super excited to have him on the show, he’s one of my favorite people on the planet. With us today is Dr. Richard Kaye and we’re gonna be talking about due diligence and the secrets of empowering negotiation. And he may not know this but he was one of my very, very, very first sales coaches who really helped me transition out of the government sector into the business mindset, to help me get into an attitude and the mindset of understanding sales and understanding how to serve people and not only in collaboration but just coming from a heart centric space and so with that, Richard, thank you so much for joining us on the show today.

Well, thank you. I’m sitting here in awe listening to you, I had no idea we had to do this interview to find out our relationship. I love it brother. Thank you, you’re awesome.

Thank you. I have very fond memories of some of the first phone calls that we had that I had with you in overcoming some of my sales resiliency and fears and all that kind of stuff and some of the feedback and guidance that you imparted upon me I took to heart and took action on and grew from and so when I see you do that with so many other people. So I’m excited to have you here on the show talking about some of the stuff that you do and folks you’re in for a treat because Richard is, he was a chiropractor in a former life, he’s been in business for quite some time and he is an expert negotiator. So Richard can you share a little bit about who you are and what you do?

I travel around the world sharing my knowledge, wisdom and information and helping people transform their lives

I travel around the world sharing my knowledge, wisdom and information and helping people transform their lives

Yes I shall. Thank you and I just wanted to make a comment on what you said that you took action on the things we talked about and Justin, that’s one of the biggest things that people have to do. Nothing in the world is pixie dust. I mean, people talk about the lottery, you gotta buy the lottery ticket and I recommend that but that’s another story. You just take action. So yes, my first career was electronics engineering. I grew up in New York and we were dealing with high seas radio telephones, where it took something that weighed maybe 50 pounds and today you have that power on your wrist. Then I went to, I’m a chiropractor and I graduated with honors. I found something that I had passion for and loved and then I was introduced to the entrepreneurial world and 13 years ago retired from a very wonderful practice in San Diego, ready owned 80 acres where I live now in Taos, New Mexico.

And drove east from San Diego and never looked back and been playing in the entrepreneurial space for a total of about 20 years. Now there’s an overlap between the chiropractic practice and here and I’ve been blessed, I travel around the world sharing my knowledge, wisdom and information and helping people transform their lives.

Young Entrepreneur Secrets

That’s absolutely … And I know this because I’ve seen you do it first hand with not only just myself but to other people that you’re a part of and so for those that are listening, when Richard and I met through an organization called CEO Space and they teach collaborative capitalism there and it’s just an amazing environment to go, to experience and if you haven’t had a chance to have a sit down with Richard to talk about your business and how he might be able to assist you in building and growing your business, now is the time to do so. So Richard, tell us what are you working on now and what’s your focus in business today?

Great question. There are a couple of areas. One is teaching negotiation. There are many people who teach negotiation and most of it is about how fast can you screw your neighbor, how fast can get what you want? And that person is a loser. I won, I won this negotiation. Justin, what I know about life is the way you do anything is the way you do everything. The model that I work with negotiation is that everybody wins. How can everybody win, you’ve got a price point that’s so different than the other person? The model is, price is the last thing, it’s so unimportant, it’s coming away with other things and when I teach I give an example. Many, many years ago when I was practicing, I was looking for an office manager and I’ll give you an idea of how long ago it was but I had an ad in the paper. A young lady calls up and within the first 30 seconds she says, “What are you paying?”

Yeah, I kid you not, great negotiator. And I said, it was a long time ago, I said, “Well, a thousand a month.” And she says, “Well, great. I’ll ask for two, we’ll settle on 1500. When can I come in?” I swear to you it was like, “Really?”

Good technique for her I guess.

Well, yeah, it didn’t work with me. And so it’s interesting, people’s perspective of negotiation.

Mm-hmm (affirmative).

Another funny story to put reality into perspective, I’ve mentioned I lived in San Diego and I went to Tijuana. The culture in Tijuana is you negotiate and the woman that I was with, we found a rod-iron flower plant holder thingy and he asked for 20 bucks and I offered him 10. That’s the way you do things in Tijuana and we get down to the point where it’s 15.50 versus 15.75.

Mm-hmm (affirmative).

And we’re going back and forth and she says, “Give him the quarter. Let’s get out of here.” How often do we lose sight of our goal and get caught up in the minutia?

Yep.

Quite frankly, Justin, I would have given him 20 bucks for the thing.

Yeah.

But it's a game, it's an exercise

But it’s a game, it’s an exercise

But it’s a game, it’s an exercise. So it’s how we play and again it’s not always the feel or the price, it’s delivery, it’s framing, it’s packaging, it’s deliver time, it’s future orders. So if we play with game and negotiation is a game and I’m gonna your listeners, as we get closer, more into this, I’m gonna give your listeners some very hard skills instead of just theory, on how to increase their bottom line and I don’t care if you’re buying something at a swap meet or at a car dealership or doing a business deal. Yes, the dollar value changes and what’s important is how you approach it.

Absolutely, well, and ultimately at the end of the day, right, as business owners we’re always looking for ways to increase our bottom line and the negotiation piece, I know that one, first and foremost, there’s a lot of entrepreneurs especially those that are in start up phase or in transition that have trouble with the ask. They have trouble asking for the money, a little loan, negotiating for something that maybe work out better for them and still be a win-win all around. And there’s a lot of fears that come with that. Our eight year old Neva, I ask her now what her favorite question is, what’s your favorite question dear? And she goes, “What card would you like to use with that?”

Ha, love it.

That’s her favorite question.

I love it.

She’s eight and she’s learning to ask and there’s a lot of business owners that are afraid to do the ask. I know I was when I first got started a business and you helped me through that. So what are some of the things that, before we go on break, what are some of the things that business owners could be doing to not only get over that fear of the ask but to step into more of a place in the negotiation?

Well, one of the things is to realize that the worst that happens when you ask something is you get a no and I guarantee you if you’re breathing you’ve gotten a no in your life before and as you continue to breath you’re gonna get nos again. No is just an answer and I actually have a quotation from a woman who took my program and said, “I was always afraid to negotiation because I thought it was something only poor people did.” And she got beyond and realized no, that’s the reason those people don’t negotiate because they are poor. It’s the wealthy people who negotiate.

Yeah.

And God bless Neva, eight years old and I love it. Which credit card would you like to use with that? That’s really fun.

That empowerment piece is really helping shift that mindset of understanding what negotiation is, what it’s not and how to shift that. Super, super important. So we’ve been talking with Richard Kaye on due diligence and the secret of empowering negotiation. Richard, before we go on break, can you share with our listeners where they can find you?

Absolutely. You go to the website, which conveniently is my name and I’ll tell you a story about that after the break. RichardKaye.com, take a look through the website. You’ll see a wealth of information and later on after the break I’ll tell your listeners how they can receive a 25% discount when they make a decision, ladies and gentlemen, when you make a decision to invest in yourself, I’ll give you 25% discount.

Fantastic. Well, we’re gonna find out more about that right after the break. We’ll be right back.

To listen to the entire show click on the player above or go to the In the Clear podcast on iTunes.

2018-06-25T15:01:59+00:00

About the Author:

Justin Recla has over 13 years experience and advanced training with the US Army and federal government. He is a subject matter expert in tactical questioning, surveillance, counter espionage, threat and vulnerability assessments, and investigative techniques. He is an educator in concepts of effective communication and has taught hundreds of future federal agents how to conduct interviews and investigations. Justin brings his skills from the military sector and delivers them to the boardroom to help business owners protect their two most valuable assets: Time & Money.
Password Reset
Please enter your e-mail address. You will receive a new password via e-mail.