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What Are You Waiting For?

“To achieve more, you must know what more is and why you’re waiting to acquire it.” -Greg Williams, The Master Negotiator & Body Language Expert

“I want to be fit and in shape. But I don’t put forth the effort to exercise. Thus, I’m not in shape. I have low-energy. And my physical appearance could be better. Still, I want the results of looking good, feeling good, and being fit. I don’t know what I’m waiting for before committing the actions required to achieve those goals!” Those were the words spoken by an associate as he lamented his plight. Have you pondered such thoughts about the goals you’ve sought to achieve? Have you thought about the consequences that lie in wait tomorrow, as the result of not beginning the quest of your goals, today?

Do you know what you’re waiting for before moving in a more positive direction? It’s a question that everyone needs to evaluate when assessing why they’re not in a better place – at a better point in life. When you engage in activities that don’t support the goals you wish to achieve, you should ask yourself, what am I waiting for? When you find yourself veering off-track of a successful endeavor, take note of where you’re headed. And if you don’t like the distant destination that you’re headed towards, ask yourself, what am I waiting for before getting back on track.

To be more successful in life, you must be self-reliant. That means as the cliché states, you must adopt a mindset that states, “if it is to be, it’s up to me.”

Everyone becomes encumbered by life’s activities at times. And yet, everyone always spends their time doing what’s most important to them. I’ve issued that summons to individuals over time. Some have stated that they only participate in activities that advance their goals. When questioned about their engagements in activities that don’t progress their goals, they sheepishly admit that it does occur sometimes.

The point is, everything you engage in is the priority that you’ve chosen to invest your time. Because, you’re stating by the fact that you’re engaged in that activity that it’s the most important thing to you at that time – to thine self be true.

Recognize what you do as being what’s most important to you when you’re doing it. Don’t sugarcoat it! You’re only playing with your mind if you don’t acknowledge that fact. There’s no right or wrong or need to assess blame. Just realize what reality is. You can’t address a situation, good or bad unless you recognize it for what it is. Once you examine your actions in the light of reality, you’ll be in a better mental space to take corrective actions. But you’ll only do that if you really want to achieve that ‘thing’ that you say is so important to you. Once you start on the path of achievement and stick to it, you’ll feel better about yourself and the achievement of your goals … and everything will be right with the world.

What does this have to do with negotiations?

In every negotiation, timing plays a key role in when you should extend your offers and when you might obtain what you seek. Thus, you must become keenly attuned to your timing. If you hesitate in making a request, a demand, a concession (yes, they are different), you should question yourself as to what you’re waiting for. If you wait too long, you’ll miss your opportunity to acquire more. If you pursue too soon, you could meet the same fate or worse, lose what you’ve acquired.

It’s stated that timing is everything. That’s especially true when negotiating. Thus, always be mindful of how you utilize your time. And note the waiting period that you engage in as to why you wait sometimes.

Remember, you’re always negotiating!

 Listen to Greg’s podcast at https://anchor.fm/themasternegotiator

After reading this article, what are you thinking? I’d really like to know. Reach me at Greg@TheMasterNegotiator.com

 To receive Greg’s free “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.themasternegotiator.com/greg-williams/

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Best Practices Investing Management Marketing Negotiations Sales

Does Your Sales Approach Blow Off Profits?

Many experts agree that selling with perspective/insight improves selling performance, but most ignore the role played by business acumen.  Business expertise is foundational to perspective selling success. Ignoring it is a mistake; best case, you can win some more opportunities, but at suboptimal margins.  Worst case: your insight selling investment won’t get you anywhere.

Perspective selling can be a huge difference maker. CSO Insights found that companies who incorporated perspective into their approach had 12% higher win rates.  This rose to 23% higher win rates for companies who master perspective. The data was conspicuously silent on profit margins of those won deals. Thus, selling with perspective can be powerful, but your mileage can vary widely, depending on how you implement.

Unfortunately, some sales training companies cover business expertise with little more than a vague hand wave. Their treatment: “Take your business acumen…you know, that business acumen that you have (right?)…and use it to provide some valued perspective”.  Apparently, hope is a strategy.

Others tell us to apply our business acumen to expose an unrecognized problem, unrecognized solution, unforeseen opportunity, or to bring a third party’s capability to bear.  Those are great suggestions for how to use already-established business acumen.

Business Acumen is a Serious Discipline, not Some Buzz Word.

I’ve heard business acumen (for sellers) described as “understanding how your customers make money”.  That’s a great start.  Adding “to the point you know how your offer can help them make even more” should become the standard for every customer-facing person in your organization.

SWOT (strengths, weaknesses, opportunities, and threats) analysis is better than nothing but doesn’t help a seller develop very meaningful insights.  It doesn’t help your people meet the standard above.
“Understanding growth drivers” sounds helpful, but don’t you need business acumen to for that level of understanding?

Sellers need a set of tools which help them understand how business works well enough to look at a prospect company with a “mechanic’s eye”:  ability to diagnose what’s working well, what’s not, and how their offer can help.  My business acumen framework covers a business in enough depth to help sellers do just that.  Here’s a diagram of the major parts of a customer’s world: What elements of their environment shape a business, internal elements that shape their world view.  On the right, is a list of some of the major outcomes you might be able to help them change.

Customer's World Business Acumen copy

Because this framework is about your customer’s world, it works with any sales training system or methodology. Contact me if you’d like to learn more about this overview.

Business Acumen Shapes an Entire Pursuit, it isn’t Just a Process Step

I’ve seen leveraging business insights to “provide perspective” and “provide insight” as one step in the selling process.  I reject this; such a suggestion shows a fundamental misunderstanding of business perspective.

Business acumen helps a seller throughout the arc of the customer experience:

  • Secure an initial appointment by showing that the seller has valuable business advice to give.
  • Shape discovery by uncovering new value and expanding known ones.
  • Expand the decision ecosystem by connecting unanticipated outcomes with your offer.
  • Expand the total value of your offer by adding outcomes all over the company.
  • Earn executive meetings by connecting to executive-level concerns.
  • Negotiate win-win pricing by walking your customer through the monetary value of all of the outcomes you help them achieve.
  • Explore even more outcomes as all of your people engage with a customer post-sale.
  • Capturing all of these value insights helps your marketing team produce content that targets the customer outcomes that win most of your deals, generating leads that self-qualify for your differentiation.

That’s why I promote a company-wide “value culture”.  In a value-focused culture, a lot of roles participate and several loops get closed.

How Business Acumen Fits into a World Class Sales Culture

Business acumen is a backdrop to a phased process, each phase of which blends into the next. Thus, Business acumen is foundational to professional selling.

Perspective selling 3 circles2

Initially, a seller should uncover needs, value gaps, and potential customer outcomes.  I have a tool called value networks which helps guide this process more efficiently (these are company-specific).  In this phase, sellers need to envision all of the parts of a customer organization the selling company’s offer might impact. As customers have become more siloed, this job has become more challenging.  My value networks help make this easier, and work with any sales training system or methodology.

During this process, a seller should be able to develop value (build the desirability of various outcomes) in the mind of various buying personas.  The diagram in this middle circle reminds sellers that they need to develop value while they can.  Once a prospect has decided you’re on the shortlist, it gets increasingly difficult to “sell value”.

Ability to sell value vs discounting

To begin the closing process, a seller needs to connect their solution to customer-validated outcomes, recap the value of those outcomes, and then position the solution based on that value. Pricing – even premium pricing– should reflect the value of those outcomes and share a win-win philosophy.  I have often experienced higher customer preference at premium prices once the customer-validated value is used alongside the price for context. 

Venn Diagram

Selling with Perspective is Good.  Selling with Value Perspective is Profitable.

Perspective selling is powerful.  It increases close rates and strengthens customer relationships.  With a few simple additions, it can do all of those things more effectively…and more profitably.  That is, you can close more deals at a higher – and more customer-appreciated – price. Since pricing power is profit power, those small adjustments make a huge difference.

Comment below.  If you found this valuable, like this article and/or share with your network.  If you’d like to learn more, please contact me.

To your success!