What They Dont Teach You At Stanford Business School

Stuff you can't learn in B-school: LARRY CHIANG

Secrets to Closing a Deal via FourSquare

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Larry Chiang is an instructional humorist and has an IQ of about 88. What he lacks in academic prowess, he more than makes up for in wisdom. He is not a Jedi but has instincts stronger than Obi-Wan Kenobi when it comes to boardroom shenanigans. Read this and the Force will be with you too. After an HBS event, they wrote an article with the same title as his NY Times bestseller:  “What They Don’t Teach You at Stanford Business School“. After a Stanford BASES keynote, he did Q&A via text message, revealed “What They STILL Don’t Teach You at Stanford GSB About Scamming and uncovered, “What They STILL Don’t Teach at GSB About Screwing Someone Hard“. Here he reveals “Secrets to Closing a Deal via FourSquare“.
By Larry Chiang

Oh muh gawd.

There is another social network everyone is in love with: FourSquare. It even sprouted a symbiotic social media site: PlanCast

Anyway, FourSquare allows you to announce where you are, tweet about it and even hold a position of Internet prominence… the coveted ‘Mayor’. There are badges that correlate with use but I really don’t care about those things because I write about money, closing deals and being street smart.

Closing deals involves using old and new weapons. I read from Don Hutson, a sales mentor, that you should delve into being a ‘second supplier’. I cut and pasted Don (Ch 3 of my book is cutting and pasting other people’s best stuff) into my chapter on SALES calling it the Second Supplier Gambit (Ch 6).

How does this apply to FourSquare?

It helps you close deals. Here is how.

-1- Second Supplier Gambit

If you are trying to sell something in the near term, you have to hard sell them. Hard selling is harder than soft selling. Soft selling is consultative, exploratory, nurturing, value added, task driven, personal, sexy, mutually beneficial and awesome. Hard selling sucks.

Second supplier gambit is a maneuver that allows you to romance your way into being a second supplier. Finding and locating your customers current supplier is the first task. Four Square lets you do that.

The fundamental idea of second supplier gambit is that if you are #2 of enough lists, your likelihood of being #1 (eventually) rises.

-2- SXSW Parties

Parties are where you make connections or solidify an Internet relationship. Stalk your sales prospect via FourSquare and plan for a coincidental meeting at, say, SXSW. Plancast helps this too. As MG Seigler said, “Plancast is like FourSquare for the future“.

You can sell better when people know love and trust you.

-3- Make FourSquare Your Hollywood Agent

FourSquare could be a good agent for you. Right now, they’re not exhibiting any of the traits of the 9 Hollywood agents you don’t want to meet.

Remember, Mr/s Restaurateur, “they don’t pay you to cook, they pay you to promote”.

-4- CEO vs CEO.

Checkmating is when one CEO is doing competitive analysis against their competitions’ CEO and making moves with the future in mind. An example of Checkmating is when William Rhodes, CEO of Citibank is getting outmaneuvered by Bank Of America’s Kenneth Lewis in sponsoring college sports stadiums.

Four Square lets you checkmate your competitors. For example, Society Dining Lounge romances it’s competitors customers with a free drink offer. If it were MY restaurant’s very loyal customer, recognized as ‘Mayor’, I do not want them getting free drinks from a restaurant across town.

Now its your turn. Tell me #5

Good luck working Sundance and text me if you’re coming to my AfterParty on January 23rd.


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Larry’s mentor Mark McCormack wrote this in 1983.

I wrote this in 20 minutes. If I missed something, email me… larry @larrychiang dot com and include your cell in the subject line.
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I started a credit company that changed a industry. Before the credit industry used to screw college students. Now, it still does, but just a little less.

Yes, I plan on doing this college marketing job until 2069 (I’ll be 90 then 🙂 Text or call me during office hours 11:11am or 11:11pm PST +/-11 minutes on my cell: 650-283-8008.

Written by Larry Chiang

December 11, 2009 at 5:51 pm

Posted in business School

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