Personal MBA: Risk Reversal

Nobody likes risk, and often we try our best to avoid it as much as possible. When we make purchases, especially large ones, it’s always nice to know that we can get our money back if we’re not satisfied. This “money back guarantee” or “lifetime warranty” is a strategy Kaufman refers to as “risk reversal.”

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Personal MBA: Damaging Admissions

Trustworthiness plays a huge part when trying to persuade someone to your way of thinking or, in the context of business, to make a sale. When people don’t trust what you’re telling them, it doesn’t matter how persuasive and rational your arguments are. You've lost the battle.

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Personal MBA: Trust

Kaufman proposes a hypothetical deal between the reader and a contractor. He explains that you would never pay the full sum of money needed to build a lavish villa without some sort of guarantee that you would receive what you’re paying for. He goes on to state that, “Without a certain amount of trust between parties, a transaction will not take place.”

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