11. Pigs Get Fat, Hogs Get Slaughtered. This is one I got from my partner Todd Wagner. He is right on. Sometimes you have to go for the jugular, but more often than not, the biggest mistake people make are getting too greedy. Every good deal has a win win solution. There is nothing I hate more than someone who tries to squeeze every last penny out of the deal. They often raise the aggrevation level to the point where it’s not worth doing the deal. They also raise the dislike level to the point where even if a deal gets done, you look for ways to never do business with that person or company again.
Business happens over years and years. Value is measured in the total upside of a business relationship, not by how much you squeezed out in any one deal.
If you are a lawyer reading this post, think about Cuban’s advice in the context of your relationships with your clients. Do you really need to turn your copy machine into a profit center? Does every single minute of time spent thinking about a client’s case need to show up on the bill? Several days ago a client complained to me about her previous attorney. She said that she would call the attorney to find out when the project he was working for her on would be done (it was already several weeks overdue), and she would get billed for the phone call! The $37.50 per call did not matter to the client financially, but she became so aggravated she not only switched lawyers, but tells everyone she knows about her experience.