You are known for emphasizing three things critical to any negotiations. >> Yeah. >> Power, time and information. >> Yeah. >> So let's talk about each of them. >> Okay. >> Starting with power. >> Well, power is capacity, and people always underestimate their own power and overestimate the power of other people. Now, my point is that there are various sources of power. For example, if you tell somebody something, they go, yeah right, okay, and they may believe you. But if it's in print, I've had situations in a negotiation where I told people the absolute truth literally, [SOUND]. We went out to lunch, we printed the same thing up, we brought it in. Rule six in our company is, which I told him. Here it is, from the rule book. Oh, okay, sure, no problem. It was in print. We revere the printed word. You go into a store and you wanna buy a stereo or what-have-you, a new TV set, and there's a sign above it that says, this is $379.99. You know, people act like that was put there by the big printer in the sky. They negotiated that price. But it's there. You can't negotiate that. I mean, it's the sign. Same thing with buying a home. And so these are the things that give you power, the power of competition. In other words, if the other side knows I've got options, they're not the only buyer or the only seller, I have options. And so what people do is they understate their power. We all know the saying, power tends to corrupt, but absolute power corrupts absolutely. Lord Acton. But in truth, it's powerlessness that corrupts. And I'm interested in people believing they have more power than they think they have to influence events. You always underestimate your power, and you overestimate the power of the other side. In fact, how do we evaluate people? We evaluate them based upon performance, achievement, or lack thereof. How do we evaluate ourselves? Not the same way. We evaluate ourselves based upon what we could have, we should have achieved. So we're tougher on ourselves. And therefore, we always look at the other side and think they are more powerful than us. And we underestimate ourselves. We know all about our flaws and we think other people see it. You know, whether it's simple stuff like we gain weight. They all notice it. Oh, we come into a room, people turn. And I call that the personal pimple theory of life, something that no one can see, we look in a magnifying mirror and- >> We focus on our own imperfections. >> Yeah, yeah, and that's not how the other side sees us, so we underestimate our power. But if you are willing to take risk, if you recognize that most things exist because they're the product of a negotiation, they can be negotiated. If you realize that you have options in this situation. If you can deal with a little stress, you have enormous power. You have enormous power, and you can make things happen.