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Business Rule #1:
Step Up and Make a Decision
September 9, 2004
(PAGE 3 of 3)
What did he have to say for himself? He said he didn’t realize how valuable the land was. With some more probing, I got him to admit that he found out that I could get financed for millions and that he wanted a slice of that extra money.
I made a snap decision right then and there that could have cost me millions and frankly my career. I never would have been able to secure another large finance agreement on my own and I would have lost my deposits with the contractors. I had to stick my chest out and take whatever came my way.
“No way in hell.” That’s what I said. Swear to God. Those were my exact words to the man. I told him that we were set to close in two days and that I wasn’t paying a cent more than I had to. As a matter of fact, I stepped up my game and got even more aggressive. I lowered my offer to $4.5 million. I made the decision because I knew that I had him. I explained that my attorneys would tie him up in so much legal litigation that not only would his children need attorneys, but that his grandchildren and great grandchildren would need them too. He would never ever sell that property—at least not in his lifetime.
What happened? He called later that evening and apologized to me, saying that his people were the ones who got greedy and put him up it. It’s an age-old ploy used by wealthy landowners against hungry developers, such as myself. I knew I was right and I knew I had leverage. I had a plan and I followed through with it. I could have decided to walk away from the deal. Instead I chose to step up and make a quick decision based on the information on hand.
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So what business rules can we take away from the premiere episode tonight? Don’t let others sway you in business. Surround yourself with good people, make them part of your team, and guide them wisely. Don’t be afraid to step up your game and do what is necessary. Use your instinct and wealth of business knowledge to take quick and decisive action. I built a lot of respect from my people on that land deal, and to this day no one questions me.
That’s it for this episode. I really enjoyed it, and I feel that it will only get better from here. By the way, so
far I’m impressed with Maria Boren. I’m looking forward to seeing her outcome in this game. She
has a killer look, she’s intelligent, and she’s well spoken. I’m going to stay mum about her for now,
but she’s definitely a world-class lady fit for a
world-class company.
You read it here first folks!
LaVelle Ward
President/CEO/Chairman
The LaVelle Organization
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You’ve got to hone your business mind to make split-second assessments and rapid-fire choices that are in concert with your business plan.
