Sunday, May 24, 2015

How Billionaire Carl Ichan Negotitaes

James Altucher writes:
IF YOU DON’T GET ENOUGH SLEEP [BEFORE A NEGOTIATION], YOUR WILLPOWER WILL BE ZERO.
Carl Icahn, one of the best investors in the world, uses this technique.

He schedules his negotiations for the early evening.

Our peak mental ability (according to Dan Ariely, author of Predictably Irrational, and many other books) is approximately 2 hours after we wake up until about 4 hours after we wake up.

And then throughout the day, our willpower slowly leaks away until we sleep again. That’s why we watch TV and eat donuts at night rather than when we first wake up.

So Carl Icahn will sleep until 4pm and then go to the negotiation at 6pm.

On the other side of the table are exhausted lawyers who have been working all day.

BAM! Who do you think will win that negotiation?

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