Rich Value Time Over Money

Andrew Wilkinson shares his perspective on negotiation and time management, particularly how wealthy or successful individuals often prioritize time over cost savings. He illustrates this through personal experiences and business strategies.

Key Points:

• Time vs Money Philosophy:

  • Successful people often choose to pay more to save time
  • Example: "I walked into a car dealership and I say I have 2 hours and if you can get me the car in 2 hours I will just sign whatever you want"
  • Acknowledges this is "the worst possible negotiating thing" but values time over savings

• Creating Business Solutions:

  • Founded Dealmaker.co to address this problem
  • Helps businesses negotiate without consuming executive time
  • Takes a percentage of savings as payment
  • Started with minimal investment (around $50k)

• Why Negotiation Services Are Needed:

  • Wealthy individuals and businesses often get overcharged
  • Personal example: WiFi installation costing "tens of thousands" when could have used simpler solution
  • Office drapes quoted at $20,000 versus $2,000 at IKEA
  • "We have a target on our back... especially when times are good"

• Business Model Innovation:

  • Uses "scrappy operators" who love to negotiate
  • Provides training and process framework
  • Works on commission basis from savings
  • Can be retained for thorough review of expenses
  • Simple integration: just CC them on emails

• Philosophy on Delegation:

  • "If I can outsource it to some scrappy person who loves to negotiate... I'll do that all day long"
  • Focus on high-value activities instead of negotiation
  • Recognizes importance of negotiation but prefers to outsource the discomfort