Are you entitled to an opinion?
June 14, 2016
Aren’t they weird?
June 16, 2016

What’s part of the deal?

There are many things that are difficult to put in writing as part of the business deal. Of course, you should always strive to include every scope of work possible. But when it is not possible, when the dynamics of business necessitates that there is a little room for negotiation, a bit of give and take, and ad hoc requests – what do you do?

Well, what you do is build what Charlie Munger calls a “seamless web ofdeserved trust.” When there is mutual trust, there will be minimal reliance on the process and the papers and the sub-points.

That is what business hangs on to – a “seamless web of deserved trust.” Better than any contract and agreement. Of course, it takes time to build. You invest your time and you invest your trust, a drop of sweat at a time.

When requests that were never part of the deal comes up?

That’s your opportunity to build trust. That’s the neon light that says, “Hey,here’s your future business!”

Never say, “That was never part of the deal.”

What sort of deals do you make?

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