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You are here: Home / Blog / Thinking 2 steps ahead, and other lessons

Thinking 2 steps ahead, and other lessons

Dan Cullum · Dec 10, 2020 ·

I love this story about financier J.P. Morgan

“J.P. Morgan once told a jeweller that he was interested in buying a pearl scarf-pin. Just a few weeks later, the jeweller happen upon a magnificent pearl. He had it mounted in an appropriate setting and sent it to J.P. Morgan, together with a bill for $5,000. The following day the package was returned. Morgan’s accompanying note read: “I like the pin, but I don’t like the price. If you will accept the enclosed check for $4,000 please send back the box with the seal unbroken.” The enraged jeweller refused the check and dismissed the messenger in disgust. He opened up the box to reclaim the unwanted pin, only to find that it had be removed. In its place was a check for $5,000.“

There are many little lessons hidden in this story. Some that I gleaned were: 1) it never hurts to ask, 2) there is value in thinking 2 steps ahead and “controlling the deck of cards”, and 3) saying “no” in a negotiation doesn’t always mean you’re closing the door on the deal.

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