Everything in life has rules. How you negotiate pay, buying a company, getting equity, or just a new job.

If you don’t spend time understanding the frame of deals, you’ll get taken to the bank just about every time.

Don't get taken to the bank⬇️
#1 Every Deal Is About 1 of 2 Things
Money or power.

Every deal.

People will disagree with me here. They’re wrong. So figure out what is important to the other side and you’re already ahead.
#2 Every deal has two aspects: Price & Terms

The saying for dealmakers:

"You can have your price and my terms, or my price and your terms... but you can't have both. "

Secret: Control the terms, you control the price
#3 If You Don’t Know the Terms You Won’t Control the Deal

Ever tried negotiating with someone when you don't speak their language fluently? Brutal.

That's exactly what you are doing if you don’t speak deal terms.
Get familiar with the lingo

Some terms to know: Equity kicker, full ratchet, warrants, put option, ROFR, sidecars, first lien position, personal guarantee, stock pledges, yield maintenance etc.

Read @jwdonald1's book (Lifestyle Investor), fast read and covers these
#4 Cash Isn’t King, Cashflow Is…

I optimize for making $ on my deals day 1 (personally, not VC)

On every deal ask yourself; can I get money now AND an opportunity for upside later.
What am I missing? What are your deal-making frameworks?

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More from @Codie_Sanchez

27 May
Every human should have their rules for life thought out.

What drives you? What is your own personal set of commandments? What lines will you never cross?

I asked my Navy SEAL man, Chris, to write out his 10 rules for life:
#1 Only prove your love, not your worth

- The loudest is a target
- Under-promise, over-deliver
- Humility in everything
- Don’t make excuses for your standards
- Always stay ahead
#2 Strength through conflict and competition

- Iron sharpens iron
- Resiliency is a purpose
- Complacency kills
Read 13 tweets
26 May
15 Quotes That Changed my Life.

Each time, every time.

A thread on how others words can engrave your soul:
I started a practice 10 years ago.
Every book I read I would write down the words that spoke to me.
Creating my own bible.
So that when times were dark, I had a light.

These are the ones I come back to again and again.
Emotion haunted his face. It was anguish, some kind of anguish, and the dull, stoic anger that hangs in the eyes of repetitive, ill-paid work.

- Shantaram
Read 18 tweets
25 May
The next wave of influencers = investors.

This has NEVER happened before.

BEFORE - You couldn’t invest alongside the big names unless you were a big name.
In fact - the secret in investing was “fake scarcity.”
- limited investors
- only institutions
- minimum check sizes
- no public information
Now it’s democratizing.

I’m going to invest in a deal w/ - @Keith_Wasserman

I’m in @gregisenberg fund

I harass @ShaanVP frequently for his deals

I’d like to get in w/ new buds @fortworthchris & @awilkinson & @sweatystartup
Read 5 tweets
24 May
Boring businesses + online marketing = rocketfuel

10 Ways to Make 6-7 Figures off Your Twitter/Social..

The threads I wished I read when I first started:
@dvassallo hitting $250k in sales for 15 months of part-time online work:

Read 7 tweets
23 May
Candy to cash.

He makes $10K a month operating vending machines??

How @quinnjmiller plays the Charlie Chocolate of robotic machines game.

A 🧵
Give me the numbers baby....
Monthly run rate: $15k
Margins: 65%
Net profit: $9,750
Number of machines: 27
Total investment into biz: $50k
Time involvement weekly: 20hrs

What he could sell his biz for... $371kish maybe $400k
80/20 Rule Matters: What he sells most of?
12oz coke
I buy this item for $.33 (each) & sell for $1, this is a 67% margin
Read 18 tweets
21 May
The story that changed my life...

That kept me up at night.

That was worse than any nightmare.
- a suburban man, who gets up at the same hour every weekday morning,

- takes the same train to work in the city,
- performs the same task in the office,
- lunches at the same place,
- leaves the same tip for the waitress each day
Comes home on the same train each night

- Has 2.3 children
- Cultivates a little garden
- Spends a 2-week vacation every summer which he does not enjoy
- Goes to church every Christmas and Easter
Read 6 tweets

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