Archive for 'Business Training'

5 Negotiating Tactics – Number Five: Closing

Posted by:

5 Negotiating Tactics – Number Five: Closing

In a previous post, What is Negotiation?, we discussed the Five Negotiating Tactics. This is the fifth and final installment of  going in-depth with an explanation of each of them. This post covers the closure to negotiations.

Closure

Put it in Writing

Once you have both come to an agreement, put it in writing, right then and there. Make sure there are no misunderstandings. If the close is emotional for either side, take this into consideration as well. Remember there is no room for emotions in negotiations, so if you’re the one who is emotional — gain control or finish the negotiations when you can control your emotions. DON’T close the deal if you’re not in control.

 

Make sure all concessions are in writing and that you and the other negotiator sign off on the agreed-upon terms. This isn’t a time to rush, but instead to make sure both parties are in agreement. You both should be satisfied with the end result. Finalize the agreement and move forward without delay.

 
This concludes the in-depth explanations of the Five Negotiating Tactics. Focus on the areas that need to be improved, but also refine the areas that are your strengths. Explore how many times you engage in negotiating today and enjoy the give and take of Negotiations!

 
Learn more at Entrepreneur You

 

Continue Reading →
0

5 Negotiating Tactics – Number Four: Take the High Road

Posted by:

5 Negotiating Tactics – Number Four: Take the High Road

In a previous post, What is Negotiation?, we discussed the Five Negotiating Tactics. This is the fourth installment of  going in-depth with an explanation of each of them. This post covers why it is important in negotiations, as in life in general, to be trustworthy and honest.

Take the High Road

 

If the other negotiator becomes argumentative, the best approach is to let them talk themselves out and simply take notes. This will keep you from getting emotionally involved and will give you time to gather your thoughts. Listen carefully and verify that you understand their position. Sometimes just this simple verification brings the negotiations closer to your position, just because you listened. Sometimes that’s all people want to know — that you’ve listened to their side of the story. It’s a powerful feeling to know that you’ve really been heard.

 

On the other hand, the argumentative negotiator may be using this as a tactic to get you to bend. Don’t. Let them talk themselves out and actively respond through verification of your notes. This reiteration of their side disarms them.

 

Remember, you’re looking for a long-term relationship here; that means finding ground where both parties can come out winners. If you sense hard feelings of any kind, attempts to break the ice and smooth the process will work in your favor.

 

Negotiations include a series of turns until finally both parties come to an agreement. Most importantly, trust must not be broken within negotiations. Things may feel strained if they’re not handled properly. That is why doing your homework and understanding both sides of the negotiations will eliminate most, if not all, of the issues.

 

Give to Get

 

Be trustworthy and honest in your negotiations. Be fair. If others are unfair to you, let them know. Don’t allow unfair treatment. This will break down the relationship, so confront the issue immediately. Generosity begets generosity. Fairness begets fairness. Unfairness brings about a lack of trust and a break down in the relationship.

 

When negotiating, if you give something away once, don’t give away anything else until the other negotiator gives you something in return. Sometimes we get nervous and think we need to keep talking, when in actuality you already gave and already talked plenty.

 

Always take turns. After you make a move, wait until the other party reciprocates before you move again.

 

Look for the next post on the Five Negotiating Tactics which will cover Closure: Putting it all Together.

 

Learn more at Entrepreneur You

 

Continue Reading →
0

5 Negotiating Tactics – Number Three: Listen and Communication

Posted by:

5 Negotiating Tactics – Number Three: Listen and Communication

In a previous post, What is Negotiation?, we discussed the Five Negotiating Tactics. This is the third installment of  going in-depth with an explanation of each of them. This post covers why it is critical to listen and then communicate but also to communicate and then listen.

Listen in Negotiating

 

Listening Keeps Communications Open

Without communication, there are no negotiations; things simply become a push and shove match. If you simply state your side without listening to the other side, your position is weakened. If you become argumentative, you lose. Laying down your cards without understanding the players and their positions weakens your position and your ability to negotiate. Once the communication bridge is burned, you’ll pay Hell getting it back.

 

Any time you’re communicating in business, whether it’s during a negotiation or in the middle of a sales meeting, listen 80% of the time and speak only 20% of the time. You may think that negotiations require you to speak more. However, you’ll find that the more the other party talks, the more you learn of their position and the easier it becomes to retain your position.

 

Silence is also a negotiating tactic. If you remain silent after your offer, especially if you let the silence linger for a few minutes until it begins to feel uncomfortable, you can sometimes get what you want. Just be aware that the other negotiator may try the same thing with you!
 

Find Out More

The more you work with the other negotiator, the stronger your negotiating stance becomes. Always be honest and respectful in your negotiations. This will be remembered during and after negotiations. Since you have already done your homework, there should be few surprises. Listen carefully and always make sure you understand their position by asking questions and obtaining clarification before you respond.

 

You’ll want to develop questions prior to your meeting. The questions you ask must be thought-provoking and must help you to understand the other party’s point of view. Once you have developed this list, obtain as many answers to the questions prior to the negotiations as you can. These answers will provide to you the ammunition you’ll need in your negotiations. Remember this diagram from our discussion of high gain questions? Use the same principles to outline your questions and answers for your negotiations as well.
 
Look for the next post on the Five Negotiating Tactics which will cover Taking the High Road.

 

Learn more at Entrepreneur You

 

Continue Reading →
0

5 Negotiating Tactics – Number Two: Portray

Posted by:

5 Negotiating Tactics – Number Two: Portray

 

In a previous post, What is Negotiation?, we discussed the Five Negotiating Tactics. This is the second installment of  going in-depth with an explanation of each of them. This post covers the importance of how to Portray yourself in the interaction of Negotiation.

Portray

 

It’s important to be positive both in your attitude and in your body language throughout the negotiations. How you come across is 90% of negotiating successfully. Words are not nearly as important as actions.

Face-to-face negotiations can be much more effective than over the phone or in writing. The reason is because the body speaks for itself.

Posture

We all have our own natural way of standing or sitting. Some of us may have developed the habit of slumping or hanging our shoulders over the years.

When entering negotiations, posture is one of the first things someone will notice. You don’t want to look tense, but you also don’t want to look like you’re not attentive to the situation. You want to look like you’re in charge and ready to move forward.

This means shoulders back, head sitting square on your shoulders and looking straight ahead. Keep your arms to the side and your hands relaxed. Be careful not to cross your arms — even if it’s a natural posture for you. In negotiations it closes you off from communications with the other person. Also be careful not to cross your legs. The more open your stance the more open the communication will be. You’re in charge — keep your posture in charge as well.

Watch your opponent; where they may be closed at first, you may notice them opening up as you begin to formulate the negotiations for them.

Handshake

This is the beginning of any negotiation, so make sure your handshake is strong and firm. This one touch will immediately let the opponent know what kind of person you are. If your handshake is weak, half-hearted or condescending, your negotiations will already be off to a bad start. A strong firm handshake is what’s needed.

Head Movements

Do your best to keep your head steady. Sometimes we have a tendency to show agreement to statements when we don’t mean to do so. Showing agreement be- fore understanding the situation weakens your position. It may also cause you to inadvertently agree to something that isn’t in your best interest! Instead of simply nodding without thinking during the negotiation, listen attentively, analyze the data and respond to it.

Nervous Habits

Nail biting, playing with your hair, squirming in your seat, making off-handed comments or jokes, or adjusting your clothes — take all of these and any other nervous habits you have and put them away. Each one of these habits displayed during negotiations will weaken your position. Add to that list nervous hand movements and tapping of a pen as well!

Eye Contact

Direct eye contact is best in negotiations, even if this isn’t your normal way of conversing. Direct eye contact means power. Shifting eye contact means uncer- tainty or distrust. People can feel messages very quickly based upon how well you connect visually.

 

Look for the next post on the Five Negotiating Tactics which will cover Listening.

 

Learn more at Entrepreneur You

 

Continue Reading →
0

5 Negotiating Tactics – Number One: Prepare

Posted by:

5 Negotiating Tactics – Number One: Prepare

 

In our last post, What is Negotiation?,  we discussed the Five Negotiating Tactics. Starting in this post we will go in-depth with an explanation of each of them. This post covers the importance of Preparation.

PREPARE

Prepare, Prepare, Prepare. Before you begin any negotiations, remember that the person who understands the issues the best will be the strongest. Understand not only your side, but theirs as well, and all the other choices that could occur in the middle.

When developing a negotiation plan, make it simple. Remember, in every negotiation there is a beginning, middle and end. Understand each step and know where you want to be.

BE OPEN

The more you believe there is only one solution for you, the more you’ll be in a losing position. Why? Because your mind becomes so focused on one outcome, that you cannot accept any other position. Ever hear the saying, “You can’t see the forest through the trees?” If you’re too focused on one particular outcome, you could be missing an even bigger or better outcome. Make sure you look at all your options.

SET YOUR INITIAL OFFER

Carefully set the parameters of your initial offer before you begin your negotiations. Remember what is driving you; is it the price or is it a principal you’re negotiating? If price is the driving factor, know where you want your end number to be. Set your negotiation zone. You set one end of the negotiation zone; the other party sets the other end.

GO FIRST OR SECOND

What’s the best order? It depends on the situation. Going first may give you the power to set the parameters to your benefit. Or maybe you’re in a situation where you want your opponent to go first; you never know, they may come in at a better place than what you would have thought. They may also provide additional information that will support your side of the negotiation. So look at the whole situation before you commit to going first or second.

PLAN TO MAKE CONCESSIONS

While preparing for your negotiations, identify in advance those areas where you would be willing to make concessions. Note that when you’re willing to make concessions (not get run over), you’ll find that it triggers the law of reciprocity. Each side needs to see the satisfaction of movement in their direction. Choose which areas you’re willing to concede before you negotiate, and have a strong story as to why the points you’re going to keep remain.

LEVERAGE

Negotiation leverage points include: needs, wants, competition, and time. These factors can be used as leverage either against your position or in your favor.  Always look for these four leveraging points; you’ll be surprised to know that the other person will likely be experiencing at least one, or more, of these factors as well.

 

Look for the next post on the Five Negotiating Tactics which will cover Portray.

 

Learn more at Entrepreneur You

Continue Reading →
0

Sales – Assuming the Sale

Posted by:

Sales – Assuming the Sale

Selling and Sales

 

I want to share with you one of the most powerful ways in the world to close a sell.

Don’t do it!

You should never have to close a sell, the sell should close itself. What do I mean by that?

 

It is simply described in one-word “assume”. What this means is to assume the sell from the beginning. Before you get on the phone, before you walk in the door – you must assume the person on the other end is going to need and buy your product or service.

 

What you want to do is open the door by assuming the sell. It all starts with self-confidence and self-confidence comes from ensuring you are at your peak capacity to absorb information. That you are ready to deliver the highest quality of information based upon your self-confidence and product knowledge. That you are in complete control of the situation.

 

In order to assume the sell, you must be aware of and deliver in the following three areas:

  • Self-Confidence
  • Preparedness
  • Visualization
Self-Confidence:

If you do not have self-confidence the following 4 areas are affected:

 

Capacity: You lose your capacity to provide or give information because you no longer feel confident in your ability to give it.

Quality: The quality of your work diminishes because you no longer feel worth and your ability to provide quality work becomes doubtful in your own mind.

Growth: If you lack self-confidence, your ability to grow and excel in the area that you are not confident in will shrink even more and you lose your ability to expand.

Control: The most critical area that affects you is no longer feeling in control of the situation.

 

Therefore, before you can move forward in assuming the sell, you must be self-confident. The next two steps in the processes will improve your self-confidence and get you to the next level:

Preparedness:

The more you know about your subject matter and the more you know about your audience and their needs and potential objections, the easier task you have in assuming the sell. You will never have to sell again once you understand the power of doing your homework and knowing when you walk in that door or answer the phone that your client is waiting for you and you will have all the answers and ability to help them with all of their needs.

Visualization:

The key that unlocks the door to self-confidence and preparedness is your ability to visualize. To begin with the end in mind. Once you visualize that the sell is already completed, the rest is easy. As long as you have brought your self-confidence to the conscious level and you have done all your homework all you need to do is visualize the sell being completed and the check is in your hand.

 

Continue Reading →
0

Management – The Second of Three Steps to Great Leadership

Posted by:

There’s a New Sheriff in Town!

Three Steps to becoming a Great Leader:

1. Understand yourself first before you manage others

2. Understand your staff next before you provide direction

3. Understand AND set strong S.M.A.R.T. Goals

Step Two – Understanding Your Staff

I like to survey my staff to fully become aware of their type of personalities, their strengths and where they want to be within the organization.

 

What empowers them and makes them want to get out of bed in the morning. What can I do to help them get to the next level in their lives?

 

What are their personality traits and how do they receive and analyze information? How can I work to provide the information they need to be successful be fulfilled in their duties.

 

Where are they in their learning process? Have they just begun their position and need a lot of direction? Or have they been in their position for a while and are feeling relatively confident about their position but not feeling as committed about the position. If so, how can I provide them guidance and also increase their dedication to the position and the company?

 

This is second of three steps to Great Leadership.

 

Continue Reading →
1

Management – The First of Three Steps to Great Leadership

Posted by:

There’s a New Sheriff in Town!

Three Steps to becoming a Great Leader:

1. Understand yourself first before you manage others

2. Understand your staff next before you provide direction

3. Understand AND set strong S.M.A.R.T. Goals

Step One – Understand Yourself First

So many times as new managers we are promoted into a position because of our excellent performance in another area. What we don’t understand is how to be a leader of the team.

The great thing is that you may have developed a level of respect and empowerment while working on the team. The bad thing is now you are changing roles and you will need to work hard to keep that respect going at a different level. Management is all about mutual respect, helping to guide your people and delivering on your promises.

In understanding yourself first analyze what kind of manager you are or aspire to be. There are those that are managers and not leaders, which mean you, manage and dictate by force instead of listening to your team. There are those who are extremely nice – in fact so nice that everyone steps all over them and they are not able to obtain goals because they are afraid to enforce the rules.

And then there are those that are just right. Willing and able to share their experience and work side-by-side with the employees to ensure they understand the position and understand when improvement is needed.

 

Which type of manager are you? Which style would you like to be? Hopefully the just “right manager”!

 

This is first of three steps to Great Leadership.

 

Continue Reading →
0

Three Areas to Apply Busi­ness Train­ing to Grow your Company

Posted by:

1. Man­age­ment

Whether you are just entering your career at the man­age­r­ial level or an expe­ri­enced man­ager, it’s impor­tant to increase your man­age­ment skills and con­sis­tently grow in this area. Man­age­ment begins and ends with peo­ple. That means under­stand­ing the impor­tance of each per­son on your staff and how to increase pro­duc­tiv­ity as well as team­work within each area that you man­age. One of the main rea­sons teams become dys­func­tional is because they for­get their goals. Per­son­al­i­ties and per­sonal agenda’s get in the way. Func­tional man­age­ment means clear goals and a clear path to reach them with. This leads to Excel­lent Management.

2. Inter­nal and Exter­nal Cus­tomer Service

Cus­tomer ser­vice is not a term that is boxed into a depart­ment, but is some­thing that needs to be taught through­out the com­plete orga­ni­za­tion. Cus­tomer Ser­vice is derived from the mis­sion and vision you have set for your com­pany. The words are just words unless you put them into action from the minute one of your employee’s picks up the phone to the time spent in the break room with other employ­ees. The orga­ni­za­tion must live and breathe its mis­sion and vision con­tin­u­ally build­ing on the strength of each indi­vid­ual per­son to build the whole. Cus­tomer ser­vice train­ing should be con­tin­u­ously applied through­out the organization.

3. Under­stand­ing Per­son­al­ity Types

So many times peo­ple do not mesh as a team within an orga­ni­za­tion because they have a dif­fer­ent way of inter­pret­ing the same sub­ject. Real­ize that how we live in this world has been derived from our past expe­ri­ences. The more we live in the past and for­get to open our eyes to the future, the less likely it will be that we grow as indi­vid­u­als. Ide­ally, we want to cre­ate an open envi­ron­ment for oth­ers to learn from us, in addi­tion to cre­at­ing an open envi­ron­ment for us to learn from oth­ers. Teach­ing the impor­tance of this real­ity is crit­i­cal in the growth of the orga­ni­za­tion as well as the per­son. This is where apply­ing busi­ness train­ing objec­tives in this area will move the orga­ni­za­tion in the right direction.

These three areas are crit­i­cal to the suc­cess of the orga­ni­za­tion. These three areas are all within your con­trol by mak­ing the proper deci­sions. These three areas all can be enhanced with spe­cific busi­ness training.
 

Continue Reading →
0

Marketing | Based Upon Your Value

Posted by:

Target Marketing

Know Your Value Proposition

When you’re selling something, it’s important to know why people will buy from you. What makes your product or service unique? What makes your business unique? Why will people choose you over your competition? This is called your “value proposition.” And once you understand your value proposition, you will be able to explain your products and services to your clients with a clear and persuasive message that will really hit home and get more clients interested in you.

Start by describing what your company does or what your products or services do. Make this purely factual; don’t worry about putting any spin on it. Now, ask yourself a critical question: ‘Why does this matter to my clients?’ Figure out the answer. And ask the question again, of the answer you just came up with: ‘Why does this matter to my clients?’ Keep answering and asking, until you come up with the very deep, fundamental reason why people buy from you.

Now, you’ve got an outstanding value proposition that should form the basis for every marketing material you make.

This is an excerpt from Entrepreneur You.
 

Continue Reading →
0
Page 1 of 4 1234