Harnessing The Power of The Win Win Situation

Are there any economics majors out there?

You guys will love this post as I will be sharing an economic principle that you’ll be very familiar with. For those who haven’t studied economics, you may be unfamiliar with the principle I’m about to share. In economics, it’s widely understood that:

“Human wants exceed the capacity of available resources to satisfy those wants”

That is the basic definition of the term scarcity. While I am against the concept of scarcity, it is actually something that we can all relate to. We want so many things, yet face a lack of capital to achieve those things.

Maybe you’re asking yourself, “Why is John teaching me economics?”. Allow me to now talk about a powerful concept called the Win Win. This scenario is what allows you to overcome the scarcity problem. Rather than feeling doomed and frustrated because you can’t get what you want, it will be wise to create Win Wins with other entrepreneurs around you.

Everyone has a differing level of resources. Tapping into the Win Win will allow you to access those deep resource pockets. How exactly do you create a Win Win situation with another entrepreneur?

Let’s use an example:

Want: You want to generate some leads and signups using Facebook ads

Problem: You don’t have a marketing budget to do so

Solution: Create a Win Win with someone who is willing to pay you for a service that you can provide.

How do you create a Win Win?

win-win

Remember that you’re not the only one with the scarcity problem. Other entrepreneurs have needs and it’s your job to network properly enough to know what they need. Let’s build on the previous example.

After getting into a skype call with a fellow entrepreneur, you explain to them your situation. Then, you want to find out what they need. Create a Win Win by offering your services in return for a small amount of money. (You want to do it for cheap, as they can find outsourcers that will do it for cheap.)

Let’s say you find out that the entrepreneur needs someone to make power point presentations for him. It happens to be your specialty and you offer him your power point creation services for cheap. It’s not a Win Win if it’s not something that they need. You’ve got to pound in the value.

If you were in this example, then you would easily find some money to put into your Facebook ads. See how that’s powerful? You’re using your creative mind, rather than succumbing to scarcity and giving up because you cannot come up with an advertising budget.

Conclusion

Harness the power of the Win Win with fellow entrepreneurs to gain the resources you need to carry on your marketing. It’s powerful. Are you harnessing this power? I’d love to hear below in the comments.


11 thoughts on “Harnessing The Power of The Win Win Situation”

  1. I’m not sure how this is a win-win? Selling my services at bargain basement prices in order to get a little more budget? That’s a loss not a win.

    I find the advice here on John Chow normally spot on but this is genuinely terrible advice. If you want a little more budget – sell your services at market rate to your community. This brings in rather more than the discount trade off mentioned above.

    I don’t work with clients who want cheap because they can get the work done for 99 cents in the Philippines. I work with clients who pay for quality – this enables me to do real work for me with the additional income.

    For the record I’m a freelance writer – my diary’s booked until the end of October… slashing my rates would simply give me more work and less profit. The biggest issue with the online freelance community seems to be that they’re terrified of charging what they’re worth and this article isn’t helping with that.

    Sorry – rant over.

  2. Riza says:

    Example given might not be that good, but the principle of creating a win-win situation by providing services for others who might give/pay something in return for you to get what you want is interesting and appealing.

    It is almost like a give and take relationship. This time, it’s between entrepreneurs. Nice. 🙂

    This post has been shared on the IM social networking site, Kingged.com and the above comment has been left there too.

    http://www.kingged.com/harnessing-the-power-of-the-win-win-situation/

  3. I. C. Daniel says:

    The win – win situation in the IM world is not a new concept, just not all have the brain to make it happen.

  4. zubin kutar says:

    Business works on a win – win situation. Whether you’re a seller or buyer you want to be in a gaining position.

    1. I’m starting to wonder if anyone here knows what win-win means.

      It is where both buyer and seller perceive they have gained value from the deal.

      For example; a buyer values additional marketing material at more than its physical worth, a seller desires additional margin – so sells the buyer the marketing as an add on at a higher price than they normally would. That’s a win-win. Both sides perceive they have benefited from the realtionship.

      In the example in this essay – the seller slashes their prices to gain a minimal marginal gain elsewhere. That’s loss-win loaded in favour of the buyer who is in essence benefiting from a fire-sale.

      I literally wrote the book on this (my training guide to negotiation is one of the 10 most downloaded trainer’s guides in the UK).

      Win-win relationships are the best way to approach business. If the example above had wanted to focus on win-win it would have involved a barter trade of the value of your services for the services of another entrepreneur (who delivers the service you need) at dollar value of those services on your rate card and theirs.

  5. Susan Velez says:

    The win-win situations can work out great for both parties. Just be sure that both of you are gaining something valuable, and are happy with the deal.

  6. faisal says:

    Always work towards mutual benefits.

  7. You won’t know until you’ve tried to network for yourself.

    Pondering won’t get you anywhere, but consistently networking will.

  8. Ben Troy says:

    Many people act on their emotions instead of acknowledging and expressing them. We get angry, we fight or flee, we repress uncomfortable emotions through denial or stuff them with avoidance, endless acquisition or restlessly moving from one place to the other

  9. torrentsatoz says:

    Always work towards mutual benefits. thanks for sharing……………………

  10. bostjan says:

    That’s not a win-win situation, where you have to pay for something. I believe a win-win situation is where both parties agree on mutual service/product exchange, without having to pay a dime.

    I mean, getting an equal partner within win-win situation is excatly that – both parties give something they have in order to get something they need, but what they give is not the money.

    If you have to pay for something like FB likes, etc.., you’re an advertiser, not an equal partner, right?

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