Difference between revisions of "Three Universal Currencies"
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| − | Three Universal Currencies | + | In [[The Personal MBA|The Personal MBA]] the ''Three Universal Currencies'' are 1) resources, 2) time and 3) flexibility. |
| + | =Key Points:= | ||
| + | * In every negotiation there are three primary Currencies: | ||
| + | ** Resources. Tangible items like money, oil, etc. | ||
| + | ** Time. | ||
| + | ** Flexibility. The cost of not doing something else, which is a very real [[Opportunity Cost|Opportunity Cost]] | ||
| + | * Focus on the appropriate trade-offs between the parties to find Common Ground in these Currencies. | ||
| + | * By mixing these currencies in different ways, it’s easier to reach an agreement that the parties can agree with. | ||
| + | =Questions for Consideration:= | ||
| + | * Which of these currencies would you most like to increase? | ||
| + | * How can you trade for more of what you value? | ||
| + | |||
| + | Source: http://book.personalmba.com/3-universal-currencies/ | ||
[[Category:mbi]] | [[Category:mbi]] | ||
Latest revision as of 20:04, 27 August 2020
In The Personal MBA the Three Universal Currencies are 1) resources, 2) time and 3) flexibility.
Key Points:
- In every negotiation there are three primary Currencies:
- Resources. Tangible items like money, oil, etc.
- Time.
- Flexibility. The cost of not doing something else, which is a very real Opportunity Cost
- Focus on the appropriate trade-offs between the parties to find Common Ground in these Currencies.
- By mixing these currencies in different ways, it’s easier to reach an agreement that the parties can agree with.
Questions for Consideration:
- Which of these currencies would you most like to increase?
- How can you trade for more of what you value?
