After months of speculation and an equal amount of smack talk from both sides, longstanding boxing champion Floyd Mayweather finally took on MMA powerhouse Conor McGregor. Mayweather sealed the win and a 50-0 record, after defeating McGregor in a 10th round TKO.
Whether you have engaged personally in the sport of boxing or are just a fan of watching, there is much to be learned from the boxer mindset and performance that you can apply to your own life. Here’s how to dominate in a business negotiation in the same manner as Mayweather did this last weekend:
1. Profile who you’re dealing with beforehand
As they say, know your opponent. In a negotiation, it is imperative that you come equipped with not only the other party’s point of view, but also why they think that way and how they express themselves. In the fight, Mayweather had to consider McGregor’s strengths and weaknesses, how to navigate the Irish fighter’s unique fighting traits (McGregor, who comes from an MMA background rather than a boxing one, is also left-handed), and what McGregor would need to achieve in order to survive each round.
A successful negotiation and a successful fight demands that you do your research and come thoroughly prepared. Doing this will guarantee that you do not miss out on a business opportunity (or worse, wind up with a black eye).
2. Be confident
In July, the two fighters kicked off an international press tour for the August 26 bout, for the sole purpose of hurling insults at each other. As they faced off publicly in multiple cities around the world, they spoke largely about their own strengths and where their opponent fell short. In one moment, Mayweather even remarked, “God only made one thing perfect, and that’s my boxing record.” One major reason Mayweather was able to come out with a win is because he simply believed he could. Remember: your confidence (and lack thereof) will have a major impact on your business deals and their outcomes!
3. Play the long game
Although McGregor came out strong in the beginning, it became clear that as the fight wore on, he was not able to match the experience or endurance of his American opponent. By the 10th round, McGregor seemed defenseless, exhausted, and ready for a TKO at the hand of Mayweather.
In the ring, you are free to take a few hits if you know it will tire out your opponent. Reacting to each and every punch may not be the best move. In the boardroom, don’t immediately react to each offer either — instead you want to respond…take time to consider what is brought to the table, adjust your strategy, and then create a counter.
Try utilizing boxing tactics in the boardroom just as much as in the ring and you will be on the path to success, in 10 rounds or less!
The opinions expressed here by Inc.com columnists are their own, not those of Inc.com.