Episode 120, Negotiating, Investing and Managing by Opportunity, with Richard Thalheimer

How To Spot Products That Will Make Millions

Did you buy a pair of those gel soles back in the day? How about a Razor Scooter? Listen today to hear from the man who saw these products ahead of everyone else and built a 9-figure business. He shares how he did it, and what he does today. If you’re an investor and/or an entrepreneur, there are a ton of takeaways for you today, beyond products and investments.

Entrepreneur and Founder of The Sharper Image, Richard Thalheimer has an amazing track record of entrepreneurial success. Richard and Roland talk about being ‘recovering attorneys’, about taking risks, about ‘finding the heart and the story’ that analysts miss, and so much more! 

To reach out to Richard, email him from his website.

“My entire life – what I try to do is look at people’s every day lives, their activities, their habits, and think of something that might be a solution to a problem, that they’re putting up with right now, that you can go and invent a solution for.” Richard Thalheimer

Listen Today For

  • Why he studied law and how it helped him.
  • How he ‘embedded a story’ in his first product.
  • The negotiation tips that are especially important in business and international arrangements.
  • A really valuable insight for hiring when you’re trying to negotiate the right salary.
  • How he assesses the Cost / Benefit of a product to assess if it’s a good product to invest in.
  • The business-saving product that his board doubted that sold like ‘hot cakes’.
  • Where to look for products and what to look for.
  • Why products are so much harder to bank on than they used to be.
  • Why he stays away from digital products and amazon commodities.
  • How he built his amazing team
  • His strategy of ‘Testing with Dollars’.
  • Why he chose to invest in Chipotle and Tesla when other’s wouldn’t.
  • His simple rule for writing great copy
  • What he reads and watches as his ‘Homework’.

And more!

“Negotiating for me has to be a final result that the other side likes also. Maybe if it’s a one-time transaction you don’t care so much, but in business when you’re going to be dealing with people again and again… If they’re not happy, they’re not going to do a good job for me”. Richard Thalheimer

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References Mentioned In This Episode

Little Black Stretchy Pants book

Shoe Dog book

Steve Jobs book

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