Linc Energy – The boardroom series – In the zone with Peter Bond – Lisa Tremolada Interview
Laticia: Coming up on the first episode of The boardroom series, Lisa Tremolada gets in the zone with Peter Bond, one of Australia’s most influential men.
Peter: In business I have a very, very black and white philosophy.
Laticia: As managing director of Linc Energy, Peter has carved a successful career around the coal industry, making a name for himself as a shrewd business man.
Peter: Well my strategy is very simple, it’s about profit.
Laticia: In the first exciting episode of the series, he reveals his top negotiation methods and how he became a millionaire by the age of 26.
The board room series – In the zone with Peter Bond
Lisa: Today I am joined by my friend Peter Bond who is recorded to have one of the highest sales in history with India, a sale worth about $2.7 Billion dollars. So who better to talk to us about negotiation today. So that 2.7 Billion dollar deal, is that your most memorable deal? I know there are some internet marketers that, have made 2 million dollars in one day, yet they say that their first sale of a $20 book was more memorable.
Peter: It was an important sale, and it had lots of strings we had to pull together, it was quite complex and very high profile at the time. I know a lot of people were commenting about whether I could do that coal deal or not. Even though we were under a lot of pressure, I have a philosophy that the person in the room with the most options wins.
So we were constantly running options on that deal right up to the last week of the deal, but at the end of the day it’s about knowing what you want and staying focused on what you want and also finding out what the other party wants. I mean, a lot of people miss the obvious, they really do try to second guess the opposition or the buyer or the seller too much. They put their own personal beliefs onto them, when it’s got nothing to do with that.
Lisa: So how do you deal with egos?
Peter: Well, Ego is brilliant. I love dealing with egotists, they are great. Because with egotists you know what drives them. Ego. So all you have got to do is simply take a step back and just let their ego roll. Once somebody shows themselves to be…and you don’t understand I deal with billionaires, you want ego, get in a room with some of the people I deal with and yes it can be pretty significant.
Lisa: How do you deal with rebuttals?
Peter: In business I have a very, very black and white philosophy and that is, I view it as a football field and I am the captain coach in the middle of the field. I have over 400 employees which I have on the field, I have 15,000 share holders which are in the stands cheering for me, and anybody on the other side of that is who I’m meant to beat that day. You’re there to walk off that football field at the end of every day the winner. My 15,000 share holders, my 400 nearly 500 employees, do not expect me to give away a free kick, they don’t expect me to run up and pat him on the head and go gee whiz holy gosh.
I got beaten on a deal some years ago, and it’s rare, and the guy outplayed me. He hit me with a legal order, a court order on a particular issue – this was years ago, and I laughed, and everyone said ‘why did you laugh? and I said ‘because its exactly what I would have done. It was like, ok lets pass it to the wing and run it down the wing and have the big guy hit the little guy. And then when I stood back and I look at it, ok he played ahead of me, he was better than me on the day.
Lisa: So there are different strategies that you use for different situations?
Peter: Well my strategy is very simple, it’s about profit. There is an old saying You Never go broke, taking profits. But you do go broke getting greedy, and it’s that fine line between knowing what is nice and a good and reasonable profit which you are happy with.
Lisa: So what is it about you that you think helps you get deals across the line?
Peter: Persistence is a big driver, going the extra mile – it’s a huge part, not settling. You have got to be absolutely committed to do whatever it takes. That in itself, WILL transform your life.
We hope you enjoyed Episode One in the series. Stay tuned for more videos with Peter Bond and other business leaders.
Powered by Maddisons Real Estate
For further information regarding our Boardroom series, please contact Lisa Tremolada.
Peter Bond Linc Energy - Powered by Maddisons Real Estate
