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Entrepreneurship Negotiations Operations Sales Skills Women In Business

“How To Avoid These Deadly Negotiation Mistakes” – Negotiation Tip of the Week

“Do errant actions derive from mistaken thoughts, or does a lack of thought feed thoughtless actions? Think about the way you think.” – Greg Williams, The Master Negotiator & Body Language Expert  (Click to Tweet)

Click here to get the book!

 

“How To Avoid These Deadly Negotiation Mistakes”

 

 

“People don’t realize; they’re always negotiating!”

 

The plan was to have one team member open the negotiation, and wear down its opposition. At some point, a hand signal would indicate when a different member would assume the leading role. This group of negotiators was going to play a version of good-cop, bad-cop. Because they’d negotiated with their counterparts in the past, and the negotiations had always been contentious. So when they planned the talks, they considered mistakes they might make, and developed alternative actions to control their concessions. They felt very confident as they entered the negotiation.

And then it happened! It occurred at the 37-minute mark in the negotiation. Their lead negotiator made a colossal mistake! He lost his composure, became irate, and missed the hand signal that was supposed to indicate a change in negotiators. Both sets of negotiators engaged in verbal altercations, which almost led to physical clashes.

It’s easy to make mistakes in a negotiation. They can occur for a multitude of reasons. Some stem from misperceived actions. But a lot emanate from what someone did not do. And those can be the trickiest of mistakes to address in a negotiation.

Guard against your negotiation from being knotted-up, by observing the following ‘nots’ – they’re not in any order of priority.


Not Realizing You’re Always Negotiating

Good negotiators know they’re always negotiating. That means they position themselves correctly to be perceived in a particular manner before the official negotiation begins. You’ll lose positioning perception if you don’t realize you’re always negotiating.


Not Planning Sufficiently For Pitfalls And Diversions

You should prepare for a negotiation to the degree you’re committed to its outcome. Thus, by not planning effectively, you’ll expose yourself to the whims of chance and luck. And that’s a recipe for a less-than-stellar result.


Not Checking/Managing Egos

Many negotiations have met their demise due to the egos of the competing negotiators. And, in some cases, the negotiators were on the same team. To safeguard your negotiation, remind everyone to keep their egos in check. And be prepared to bring them back in line before someone’s ego gets out of hand and wreaks havoc on the negotiation.


Not Knowing The Value Proposition

The value proposition a negotiator has is the perspective he brings to the table about the value of what he’s negotiating.

 

  • Not knowing your value – No matter your offerings, you should recognize how the other negotiator perceives value. Because if he’s negotiating with you, there’s a reason he’s doing so, and you should know that reason.

 

  • Not knowing the worth of your offering – Value is worth, and the perception someone assigns to worth is its value. If you don’t understand how valuable your offering is to the opposing negotiator, you could be setting yourself up for a significant loss – you’d do that by leaving more value on the table than you receive. Not only should you know the importance of what you have, but you should also be careful about who sets that value because that’ll determine its worth.

    Not Getting Researched Proof About Assumptions

An assumption is nothing more than a guess. To improve your outcomes, research your ideas. Seek to verify to what degree they’re valid. Doing so will give you leverage to refute some claims and reinforce others.


Not Considering Phases Of The Negotiation

Hopefully, you wouldn’t walk in dangerous environments without protection or support. And yet, by not considering where one phase of the negotiation leads, you could be moving into dangerous territory without protecting yourself. Moving without intent can leave you vulnerable to your negotiation counterpart. Always know the purpose of your actions, and where they may lead, when making offers and concessions during your negotiation.


Not Closing Correctly To Prevent Backdoor Escapes

Depending on its outcome, a negotiator may not like the deal. If so, he may seek ways to improve it later. That’s why you must confirm the covenants of the negotiation at its conclusion. You should also be aware of how the other negotiator appears as he’s responding to his understanding of what he and you will do next. If you sense any apprehension, address it sooner than later.


Not Recognizing Others You’re Negotiating Against

Some negotiators fall prey to the ploy of thinking they have a deal, and later discovering someone else has to make the final approval. At the beginning of your negotiation, verify that the other negotiator has the authority to conclude a deal. And inquire about those that are not at the negotiation table on whose behalf he may be negotiating. Don’t be blindsided by, ‘Oh, I forgot to tell you that I have to get approval from Miss Jones.’


Not Using Leverage Properly

Leverage gives you the ability to exact more influence in a negotiation than the capacity you possess alone. The opportunity to use it always exists. Once you identify it, to give it more potency, apply leverage when it gives you the highest return. To do otherwise is to weaken its value.


Not Projecting The Right Demeanor

When you’re negotiating, you’re role-playing. That means you should cast an effect that affects the behavior best suited for the talks. Doing so correctly enhances your negotiation efforts. To project the correct attitude, don’t under or over position yourself. Thus, the best persona should be one that assists you in reaching the goals you have for the negotiation.


Accepting A Statement/Offer And Not Assessing Its Premise

If I tell you a story, will you believe it? Your answer depends on the narrative, your belief system, and whatever additional information you choose to make your assessment. And that same thought process is what you should undergo before accepting someone’s premise as a truth. By not challenging someone’s statement, you exclude the possibility of other thoughts, offers, or solutions to a problem. Be careful of what you accept as the truth. Everything that glitters is not gold.

 

Reflection

So many mistakes can take a negotiation in the wrong direction. By observing the ‘nots’ mentioned, you can keep your negotiations from knotting up. In so doing, you’ll avoid the traps that ensnare most talks. And everything will be right with the world.

 

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 like to know. Reach me at Greg@TheMasterNegotiator.com

 

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

 

 

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Categories
Entrepreneurship Marketing Personal Development

The 4 Levels of Marketing

When it comes to marketing, there are four things that you need to focus on, four levels if you will.

The four levels of marketing are:

  • Strategy
  • Tactics
  • Initiatives
  • Action steps


When you hop on a webinar, when you ask your mastermind group for help, even when you start searching the web for answers and tools to grow your business, the number one source of overwhelm is when you’ve heard a whole bunch of strategies, a whole bunch of tactics, a whole bunch of initiatives, a whole bunch of actions steps — and you don’t know the difference.

There are three reasons why this short-circuits your brain:

  1. You can’t do them all
  2. You can’t prioritize or figure out how to start to think about them
  3. You can’t distinguish why or how it might work for your particular business


A strategy is a big picture area of your business. It could be a marketing strategy. It could be a sales strategy. It could be a financial strategy.

Let’s say you come across someone who tells you Instagram is an amazing marketing platform and you’re really missing out if your business is not on Instagram.

She is using it and it fits her business beautifully, and you respect this person and you admire her successful business.

And now you’re thinking, “Oh man, it’s all about Instagram, Instagram, Instagram.”

“If she built her business on Instagram, I can probably build my business on Instagram.”

Well, let’s back up and analyze that as far as the four levels of marketing.

Internet marketing is the strategy. In other words, Internet marketing is the big giant umbrella over Instagram.

The tactic under that would be social media. There’s a lot going on via the internet, folks, that’s not social media.

For example, Search engine optimization, your website, the structure of your web presence, blogging, podcasting, email marketing, dozens of internet marketing strategies. Social media happens to be one bucket under that, so social media is the tactic.

An initiative would be “I’m going to start using Instagram.”

This is level three now. I’m going to start using Instagram. I’m going to start understanding it. I might read a book. I might go to some websites, I’m going to grab a copy of Instagram 101 or Using Instagram for Business, all those fabulous resources that are out there for free.

Now, the action step – here’s level four, the action step always takes the form of verb, noun, date.

  1. Set up my Instagram account by Wednesday
  2. Prepare my first 10 posts by Friday
  3. Find 25 influential people to follow in my industry by Saturday
  4. Identify the top 5 hashtags to attract prospects by Monday
  5. Set up Plannthat.com to schedule posts by next Wednesday 

Those are action steps.

And the action step can also go on your calendar.

So it really takes it down to “What are you doing today?” 

What’s on your priority action list today?

Your to-do list could be 50 things, but what are your top three most important things that you need to do based on the strategies you’ve selected, based on the tactics that you’ve chosen, based on the initiatives that you’ve designed, what are the action steps to put on your calendar and get it done?

So right there, just unpacking those four levels, you’ve gotten some insights through which you can start to filter and sort all of your ideas, notes, all of those webinars you’ve listened to, all of those tactics and tools and light bulb moments, all those nuggets and sound bites that you may have swirling around in your head or on your “someday, maybe list.”

If you start to sort them into these four levels; strategy, tactic, initiative, and action step – you’ll get a much clearer vision for ALL your marketing going forward this week, this month, and for the rest of your professional career.

How will you put the 4 levels of marketing to work for your business this week? What strategies, tactics, initiatives, and action steps are you working on? Send me a private message – I really want to know. And I read every single one. Yes me. No minions. No elves :o)

Categories
Best Practices Entrepreneurship Marketing Personal Development

7 Keys to Help You Focus on Strategy Not Tactics

As a business coach, I’ve observed that strategic business owners tend to be focused and successful.

And tactical business owners tend to be scattered and struggling.

If you want lasting and profitable business success, the key is to marry a small number of highly focused strategies with a variety of tightly aligned marketing and sales tactics.

Here are 7 keys to help you get started.

1. Tactics are easy – and it’s tempting to confuse executing tactics with moving your business forward. Ain’t always the case though, is it?

2. Strategy is the WHY TO and tactics are the HOW TO. If you stop focusing on your “WHY” even for a short time, you’ll fall into the trap of getting really good at creating and selling projects/services that you don’t want to be doing. How are you trapping yourself with off-strategy successes?

3. It feels good to execute tactics – and it feels hard to create strategies. This is because you have to come face to face with the time-space continuum. You can’t execute everything you want to do all at once. And you probably shouldn’t try. How have you subconsciously let yourself be overwhelmed with not enough strategy but too many tactics?

4. Tactics pile up – there is always more to do. Strategy is a limiting factor. Strategy shows you what you should NOT be doing, building, selling, and offering. Strategy serves your business as a filter. With no strategy, every tactic looks reasonable. How have you buried yourself in tactics while starving yourself of strategy?

5. Business owners and entrepreneurs LOVE talking to each other about tactics. What’s worked? What hasn’t? What’s next? They rarely talk strategy. They rarely talk about things they want to stop doing. What questions could you ask your colleagues to find out what they have pared down and eliminated to help them increase their strategic focus?

6. We’re too busy for strategy. Really? How about spending a morning in your comfy chair with a notebook and a set of colored Sharpies to have a strategic meeting with yourself? In less than two hours, you can do a data dump, a project review, a client review, an “ideal business model” exercise and create several lists such as “Low-payoff activities that take too much of my time” and “High payoff activities that I need to create more time for.” Review your notes, summarize and categorize them, and begin to put them into action. When’s the last time you had a strategic meeting with yourself?

7. Busying yourself writing emails is not a strategy. Email is not a tactic. And email is not a high-payoff activity. Yes, you might get a few client emails a day. Or customer service emails. Or a handful of leads. Other than that, sitting on email all day is a deadly distraction that sucks up way too much time. So stop. Make a sign over your desk where you can see it from your computer that says, “EMAIL IS NOT MY JOB.” How has email stolen your strategic focus lately?

If some of these – ANY of these – resonate deeply with you, comment, and give me an “Amen!”

Tactics before strategy leads to suffering. When you make strategic decisions first, all your marketing and sales choices become easy. Don’t be a victim of the all-too-common entrepreneurial disease of tactic-itis. You’re too smart for that. Focus on strategy and the tactics will become obvious.

Categories
Best Practices Entrepreneurship Investing Marketing Personal Development

Behavioral science puts old price theories to an end

Low prices gets more customers, high prices gets fewer customers. This is an “old” truth that the business economy has lived by for a very long time. In reality, our buying behavior is considerably more complicated than that, and a higher price can on the contrary increase sales volume. 

Traditional knowledge in business economics follows that price and demand have a linear relationship. The management’s marketing strategy in terms of pricing is then simplified to the practice of setting the price so that the total earnings are optimized.

However, modern research complicates this well-known business practice. We humans tend to allow psychology and other non-rational factors influence our behavior and that includes our buying behavior. This strict economic theory does not give the whole picture, though.

When people make decisions in purchasing situations, it is based on an estimate of the product or service value. Of course, that valuation may differ across various situations. For example, an umbrella is much more worthwhile to the buyer when it rains. Still, you see shops that sell umbrellas when it is not raining.

However, the estimated value correlates not only with the personal and current needs, but also on its relation to other products or services of the same kind. Is this product or service of good quality? Is it worth its price? If the answer is “Yes,” the consumer will purchase the product or service and on the contrary, if the product or service is not considered worth its price, then a purchase is unlikely to occur.

Since the consumer often does not know how good the quality of a particular product or service is, the price itself is a quality indicator. The value thus rises in the consumer’s eyes as the price rises. This is not about status or a desire to show off wealth. Of course, this can have a determining effect, but the principle applies in a general sense and also to products that do not have “status” attached to them.

An everyday example can be a pair of winter shoes. In the shoe store, it is difficult for the consumer who is not able to look at the shoes in-depth, to see if they are of high quality or not. If, on the other hand, the price is high, we assume that the quality and thus the value are higher. Buying low-quality shoes for the winter season, which may start leaking or quickly lose their freshness, is a huge miss, even if they only cost a fraction of the more expensive shoes.

The problem is that you as a consumer do not know this in advance. The cheap shoes can keep the moisture out as well as the expensive ones, but it is uncertain factor, that only time will tell whether your purchase gave you good value or not. However, price is a factor – perhaps the only one – that the consumer has in assessing the (perceived) value of the shoes.

As a company or trader, this becomes an important thing to consider, especially with regard to pricing strategies. A low price means that people also perceive the value as being lower. Therefore, a low price does not, of course, mean higher sales in number. In fact, in some contexts it can be just the opposite. Too low a price can lead to reduced sales as “cheap” signals poor quality and value to the (potential) customer.

Price is therefore important in itself. Companies need to understand that a correctly set price is not about placement on a linear graph, but about finding the point where consumers’ perceived value is the greatest.

The next question then helps to know how this value can be found, where is the optimal price? The answer is perhaps obvious: You ask the consumers. By asking consumers to value different products and indicate what they would be willing to pay, you get results for price indicators for a specific product or service. You can then see the true balance between price and sales volume. This can be refined through a number of variables and it is also possible to work across different markets.

The results are analyzed and processed and at the other end, there is a graph that looks very different from a “standard” graph analysis. Instead of just a linear relationship, it becomes a two-way staircase where different price plateaus and price walls appear in the data.

So, we humans do not act according to the classical and traditional economic theory mentioned earlier. Psychologically, we perceive a low price as lower quality and thus of lower value. The price we as consumers are prepared to pay is about what we perceive as “worth the money.” In this situation, a higher price can be a sales advantage too good an opportunity to pass up on.

An estimated 95% of companies today use a simplified model for pricing their products and services. You guess, use cost-based pricing or predetermined marginal goals. However, if the actual willingness to pay is included in the calculation, the profit margin can often increase by 25–40%. Sometimes even more!

This means that the price of the products can be significantly improved. Businesses and traders, many perhaps pressed under small margins, can, through such an analysis, have a more stable basis for their pricing. Profitability is increased and they have better opportunities to develop their business.

Of course, this is based on the fact that the products or services are genuine. Trying to bluff consumers by setting a high price on a substandard product or service is not going to be a success. This will quickly have a detrimental effect and damage the brand significantly.

The importance of consumers’ perceived value may not be revolutionary. However, it is a new process how this value can be investigated and analyzed. In this, behavioral science and psychology play a greater role than the classical and traditional economic theory. Pricing strategy becomes a whole new ball game, once you know what the consumer is willing to pay for a product or service.

Per Sjöfors
Founder
Sjofors & Partners
www.sjofors.com

Categories
Best Practices Entrepreneurship Human Resources Management Negotiations Sales Skills Women In Business

“Do You Know Why Anxiety Signs Signal Direct Danger” – Negotiation Insight

“Anxiety can lead to danger. And like EXIT is within anxiety, exiting anxiety is how to avoid danger.” -Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)

 

Click to get the book!

 

“Do You Know Why Anxiety Signs Signal Direct Danger”

 

No matter your environment, your mental strength, or discipline, pay attention to your anxiety levels – because they can debilitate you! Anxiety can turn a happy person into one haunted by despair.

Make no mistake; anxiety is serious and something of which to be mindful. The following are signs that you should be aware of and why it matters to your wellbeing. Please do not go sheepishly into the night, thinking you’re immune from anxiety. Heed these warnings!

 

Signs of Anxiety

Frequent sighing – Frequently sighing can be the announcer of anxiety’s arrival. When you find yourself committing this act, note it. And identify why it’s occurring.

Feeling besieged – When you feel the walls closing in, that can be the sensation of a smothering environment. It can also be another sign that you’re sensing or experiencing anxiety.

Frequent disputes with others, for whatever reasons, but in particular, because they don’t view things the way you do, can lead to or instigate anxiety. Be aware when you’re in such environments.

Perceived time pressures – When you feel the pressures of addressing activities building on you, realize where such pressures may lead. And understand, by thinking about all of those activities, you’re adding to, not deleting from, your stress quotient.

The anticipation of coming events – Smart people prepare for the future. They do so by engaging in actions today that’ll get them closer to tomorrow’s goals. And sometimes, when smart people think about activities they’ll have to participate in, they become stressed from the anticipation of those events.

When I was a child, my grandmother told me not to borrow trouble. Which meant, prepare for the future, but don’t let thoughts of your inadequacies trouble you in the present time. When you control your mind, you control your thoughts. I never forgot my grandmother’s sage advice. I offer it to you for your guidance.

 

Why It’s Important To Control Anxiety

Anxiety leads to mental anguish, which alters your perspective about people. That can lead to a lack of tolerance for those that you might otherwise admire.

It’s a gateway to depression, which can decrease your mental abilities per how you interpret situations around you and your circumstances.

It decreases your degree of patience with yourself and others.

Mental exhaustion can come from anxiety.

And it can induce an altered perspective of reality, which can deter you from addressing your goals and team activities.

 

Ways To Combat Anxiety

Precursor

Be prepared to confront anxiety by thinking how you’ll offset it when it occurs. Which means you must identify it the moment it happens. Then note where it’s leading you. To do that, observe your emotional and physical feelings. You may experience a sense of quickened emotions, due to the perception of activities colliding that need your attention. You may even note your anxiety in your pace of speech, stammering, or in the way you’re breathing. All are signs to observe because they’re signals that you’re walking into a darkened state indicating the possibility of mental debilitation.

 

Control

To combat anxiety, think about what you can control. If aspects creating the stress stems from activities you can’t control, accept that fact, if only for the moment. Do other things to take your mind off what’s creating anxiety – play games – watch a movie – meditate – do something to relieve the pressure that’s building inside of you. The point is, don’t allow stress to enter your domain because you’re concerned about activities you can’t control.

 

Sources of Input

Be aware of the source of your information and the credibility you lend to it. Some people view sources as being highly valid, while others may see them as peddling fake news. Thus, if surrounding individuals hold contrary opinions to yours, your interactions with them may lead to heighten differences of beliefs. And that can serve as a point of escalation that leads to more anxiety within you. Therefore, to better control yourself, control the environment you’re in, and what you allow that environment to implant in your mind.

 

Think Through It

Think about the lessons you’ll learn and how those insights will be beneficial to you in the future. Imagine being on the other side of what’s causing your anxiety. It can be challenging to imagine happy times when you’re in the throes of despair. But like the current situation that may be causing you angst, this too will pass.

 

Have Fun

When you’re in a state of stress, thinking about having fun can be the furthest thought in your mind. But that’s what you should consider doing. Having fun, laughing, thinking positive thoughts, will lift the angst of anxiety off you. Even if it only does so for the moments you’re engaged in those happy activities, the bombardment occurring against your mind will decrease. And that will allow you a respite from the anxiety that’s bombarding you.

Reflection

Sometimes uncertainty spreads faster than reality, which can increase your degree of stress that leads to danger. Whether you’re in a negotiation or thinking about one, anxiety will hurt you mentally by overburdening your mind. And that additional tax can lead to more stress, which will cause you not to think clearly. And doing that could lead to disastrous results, no matter what activity you’re engaging.

Thus, always strive to reduce anxiety as soon as you recognize its signs. Doing so will allow you to avoid danger. And everything will be right with the world.

 

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 like to know. Reach me at Greg@TheMasterNegotiator.com

 

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

 

 

Categories
Best Practices Entrepreneurship Leadership Personal Development

9 Reasons Good People Fail

I was browsing through my ebook edition of Napoleon Hill’s Think and Grow Rich and this particular passage jumped out at me.

I thought you should see it.

Let me know what you think.

9 Reasons People Fail

1. Lack of well‐defined purpose in life. There is no hope of success for the person who does not have a central purpose, or definite goal at which to aim. Ninety‐eight out of every hundred of those whom I have analyzed had no such aim. Perhaps this was the major cause of their failure.

2. Lack of ambition to aim above mediocrity. We offer no hope for the person who is so indifferent as not to want to get ahead in life, and who is not willing to pay the price.

3. Lack of self‐discipline. Discipline comes through self‐control. This means that one must control all negative qualities. Before you can control conditions, you must first control yourself. Self‐mastery is the hardest job you will ever tackle. If you do not conquer self, you will be conquered by self. You may see at one and the same time both your best friend and your greatest enemy, by stepping in front of a mirror.

4. Procrastination. This is one of the most common causes of failure. “Old Man Procrastination” stands within the shadow of every human being, waiting his opportunity to spoil one’s chances of success. Most of us go through life as failures, because we are waiting for the “time to be right” to start doing something worthwhile. Do not wait. The time will never be “just right.” Start where you stand, and work with whatever tools you may have at your command, and better tools will be found as you go along.

5. Lack of persistence. Most of us are good “starters” but poor “finishers” of everything we begin, moreover, people are prone to give up at the first signs of defeat. There is no substitute of persistence. The person, who makes persistence his watchword, discovers that “Old Man Failure” finally becomes tired, and makes his departure. Failure cannot cope with persistence.

6. Negative personality. There is no hope of success for the person who repels people through a negative personality. Success comes through the application of power, and power is attained through the cooperative efforts of other people. A negative personality will not induce cooperation.

7. Lack of a well‐defined power of decision. Men who succeed reach decisions promptly, and change them, if at all, very slowly. Men who fail to reach decisions, if at all, very slowly, and change them frequently, and quickly. Indecision and procrastination are twin brothers. Where one is found, the other may usually be found also. Kill off this pair before they completely “hog‐tie” you to the treadmill of failure.

8. Over‐caution. The person who takes no chances generally has to take whatever is left when others are through choosing. Over‐caution is as bad as under‐caution. Both are extremes to be guarded against. Life itself is filled with the element of chance.

9. Wrong selection of associates in business. This is one of the most common causes of failure in business. In marketing personal services, one should use great care to select an employer who will be an inspiration, and who is, himself, intelligent and successful. We emulate those with whom we associate most closely. Pick an employer who is worth emulating.

Have you read Think and Grow Rich? If not, grab a copy and read it. If yes, read it again.

Categories
Entrepreneurship Management Negotiations Operations Sales Skills Women In Business

“Negotiator – Do Not Be Fooled By These Amazing Mind Games” – Negotiation Tip of the Week

“Mind games can lead you astray if you don’t control the games your mind plays.” -Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)

Click to get the book! 

Negotiator – Do Not Be Fooled By These Amazing Mind Games”

 

When do you fall prey to a negotiator’s mind game? An associate wanted to invest in computer software that would enhance his small business operation. He did his research and found a service to purchase. When he saw the offer, it said, “save $30 off of the yearly subscription.” The price was $159. He got busy and forgot to make the purchase. When he went back the following week, the cost was $189. And it had a red slash through a price indicating, “normally $229.”

What happened? A mind game, known as negotiation jujitsu, had just been perpetrated on the associate. It’s a maneuver a negotiator uses to alter the perceived value of an item to increase your desire to have it.

Some people are motivated by gain. But more people are driven by the fear of losing something. So, when a negotiator attempts to use one of the following tactics against you, understand what he’s doing. And don’t be fooled by the mind games he employs to manipulate your mind.

 

Authority Figure

If a negotiator knows you follow a particular authority figure, he may attempt to sway your perspective by invoking that figure. The effort might go something like, “you know that Mr. X uses this product, right? So, if it’s good enough for him, I’m sure you’ll agree that it’s right for you, right?”

While he may place his suggestions in the form of questions, he may also state them as facts, depending on which way he believes you’ll become swayed the most. The point is, you must prepare yourself for either. By doing so, you’ll insulate yourself better to combat this ploy.

 

Vanity

“Oh, my goodness! You look great in that. I can see heads turning to look at you. You’ll be the envy of your peers!” This ploy attempts to stoke your vanity. And, it’s usually successful when employed against someone seeking to have his ego stroked.

Everyone likes to receive compliments. What you must weigh is the sincerity of the praise. Since there’s no inherent cash value applied to vanity, only allow it to factor into your decision proposition when it adds value to the outcome. Otherwise, keep it in check when making your decisions.

 

Simple Mind Games

Scarcity – only a few left – someone just ordered the last one, but since you’re here, you can have it.

 

Last One – we just sold the last one – wait a minute, let me check in the back – I remember seeing one some time ago – hopefully it’s still there.

 

Ending Soon – The sale will end soon – if I were you, I’d get it now and take advantage of the lower price.

The examples just mentioned are the simplest of mind games intended to make you take quick action. And yet, they can be very effective against those that are not savvy about such tactics. Even more insidious is the close tie that scarcity has with the ‘last one’ ploy of an item. When someone attempts to use such tricks against you, disconnect your heart from your decision, and instead, use your head. And don’t allow yourself to be moved to action if it’s not right for you.

 

Timing of Offers

Offers have more potency depending on the occurrences surrounding them. Thus, you should always consider the timing of a negotiator’s offer. Because, in some cases, the timing factor can appear enhanced for bogus reasons.

As an example, if a seller of real estate indicated that he had to liquidate a property, due to financial hardships, potential buyers might assemble thinking they were in for a bargain. In this case, the reasoning tied to the timing of the offer is the seller’s financial hardship. Then, when the buyers begin competing against one another, for what may have been a bargain, some might get caught up in the process. And that might be the catalyst that causes them to exceed the cost of what they initially envisioned as a fantastic opportunity.

When contemplating the timing of an offer, consider the reason given for it, and the possible frenzy that it might create. While the timing of some proposals may be valid, per a negotiator’s claims, it’s also a tactic that savvy negotiators use for manipulation. By being observant of the possible intent of an offer’s timing, you can subvert the possibility of it manipulating you. And that will place you in a better position from which to negotiate, or not.

 

Negotiating Against Yourself

The seller said, “if that’s your best offer, I’ll consider it. But other offers will probably be better.” Okay, I’ll increase my offer, was the buyer’s response. Several things occurred in this exchange.

Number one, the buyer was negotiating against himself. That means he didn’t ask about the other offers before he increased his. Never increase an offer without really knowing who’s opposing you. And identify why you should raise it, if at all, based on what others are doing.

That leads to point number two. The seller said, “other offers will ‘probably’ be better.” The emphasis being ‘probably.’

When someone makes an assertion placed in the form of a probability, pause – always listen intently to the words one uses when they make an offer. In this case, the seller was implying that an occurrence might ensue, but what he was also relating was that it might not happen.

When you hear language that’s not absolute, question the probability of its occurrence. Also, inquire about the likelihood that others will make a higher offer, the timeframe in which they might do so, and why they might do so. Plus, ask about the probability of the other negotiator accepting your offer if you increase it.

Always make the other negotiator work for what he receives. He’ll have greater respect for you and your abilities when he senses he’s earned what he obtained. One way to do that is through the questions you ask. That will also inform him that you’re not someone that can be moved mindlessly towards a direction that suits his needs.

 

Reflection

The best defense against someone’s attempts to use mind games against you is to understand their intent. Since good negotiators involve your emotions in a negotiation psychologically, you must be prepared to protect your feelings. Because, if you allow your emotional mind to control your actions instead of your head, you may lose the negotiation. But if you use your head to control your emotions, you’ll come out ahead. And everything will be right with the world.

 

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 like to know. Reach me at Greg@TheMasterNegotiator.com

 

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

 

 

#MindGames  #Right #csuitenetwork #thoughtcouncil #Bodylanguage #readingbodylanguage #Negotiation #NegotiationStrategies #NegotiationProcess #NegotiationSkillsTraining #NegotiationExamples #NegotiationTypes #negotiationPsychology #ReadingBodyLanguage #BodyLanguage #Nonverbal #Negotiate #Business #SmallBusiness #Negotiation #Negotiator #NegotiatingWithABully #Power #Perception #emotionalcontrol #relationships #BodyLanguageExpert #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions #GregWilliams #success #Howtowinmore #self-improvement #howtodealwithdifficultpeople #Self-development #Control #Conversations #Howtocontrolanegotiation #howtobesuccessful #HowToImproveyourself

 

Categories
Biography and History Entrepreneurship Human Resources Personal Development

The Audiobook Publishers Association Recognizes Business Audio Theatre

Stephen King was there for a special award of recognition. Michele Obama, Meryl Streep, Tom Hanks and other Hollywood stars were lauded for their narrations. And Michael and Bonnie were there to accept their medallion for Finalist in the Business/Personal Development category!

That’s right! The Barefoot Spirit made it to the finals at the 2020 Audiobook Publishers Association’s Awards competition!

Last night, tucked under the Queens Borough Bridge in Manhattan, the 2020 Audiobook Publishers Association Audie Awards Gala was presented at the elegant Gustavino’s, complete with red carpets, cameras, champagne, and celebrities. Folks were dressed to the nines to celebrate the Audiobook Publishers Association’s (APA) 25TH year in hopes that they would bring home the top awards. This was clearly a big deal for the audiobook industry and we were honored to be included with all the glitterati.

According to the MC, one in every two Americans listened to at least one audiobook last year and the industry made a whopping one billion dollars in sales. As more and more listeners discover the freedom of true mobile entertainment, audiobook growth is taking off fast.

The APA is supported mainly by the big publishers, so it was quite a compliment when a former judge in our category said, “You guys are self-published? You are very fortunate to have made it all the way to Finalist!” Along with Harpers, MacMillan, Penguin, and all the other Big Boys, here comes Michael and Bonnie’s The Barefoot Spirit, self-published by Footnotes Press, LLC. We proudly wore our finalists award medallions all evening! It appears we were the only self-published audiobook to make it to the final round!

Out of only five finalists in our category, ours was the only one that was performed and fully-casted rather than strictly narrated. We would like to think that the distinction was recognized by the Association. We are grateful that the APA has recognized the value of this pioneering initiative to convey business principles and preserve founders’ legacies with Business Audio Theatre (BAT). This acknowledgment gives a level of credibility to performed business audiobooks.

While we were in New York, we were interviewed on C-Suite TV. They were interested in the APA recognition, but more keenly focused on the potential for Business Audio Theatre when used as an onboarding tool to help increase engagement and reduce turn over. They wanted to know how this new technology could be employed to preserve a founder’s legacy and improve company culture.

Founders can’t be there forever, and they know it. Sooner or later they must turn over the reins of leadership to the next generation. They worry about their companies becoming complacent, mired in compliance, and turf battles breaking out between the increasingly specialized divisions.

Will it be “just another job” for their future employees? Would they just as soon work anywhere? Or do they identify with their new company? How can companies keep their Founder’s spirit alive? We believe the best way to convey business principles is through story. And the best way to convey story is through an audio performance that entertains and engages the listener’s imagination while it educates. And what if that listener is your company’s new hire? And what if your company’s story and principles are handed to them on day one in an MP3 format?

Having created and published an acclaimed example of BAT in The Barefoot Spirit audiobook, having perfected the process of conversion of story to audio play, and having partnered with a Hollywood production company, Sherwood Players that have actually done it, we are in a truly unique position to offer this new tool to founders and their companies.

That’s the promise of Business Audio Theatre and that’s why the audiobook industry’s recognition means so much to us. We can create a compelling onboarding tool to help other founders keep their spirit alive and preserve their company’s history. Check it out at BusinessAudioTheatre.com.

Categories
Best Practices Entrepreneurship Management Negotiations Sales Skills Women In Business

“There Is Powerful Value In Asking For More Right” – Negotiation Insight

“The probability of getting what you want lies in the way, when, and how you ask for it.” -Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)

Click to get the book!

 

“There Is Powerful Value In Asking For More Right”

 

No matter what you ask for, there’s value in asking for it the right way.

 

The buyer asked the seller to lower his price. The seller’s response was, “wait a minute. If I lower my price, I want to make sure it will still cover my cost.” Then he said, “okay – I’ll lower it.”

In that split second, two things occurred. One, the seller lowered his price. And two, the seller had given valuable information about the margin on the product he was selling. The buyer thought, “that margin information has value.” I’ll use it in our next negotiation. And, the buyer enhanced the probability of getting the seller to lower his price by doing several things right. Those factors are tools that good negotiators consider and use in every exchange they encounter. Continue, and you’ll discover what they are.

 

Timing of Request

The timing of your request adds or detracts from the probability of your receiving it. Therefore, consider the following factors before making your request:

Setup – Sometimes, you can enhance a request by doing it in stages. As an example, if you wanted something that you thought had a low probability of being granted, you might ask for something less to build up to your ultimate request. Some negotiators call this the salami technique. You get a little of what you want now and more over time.

State of mind – When making a request, another point to consider is someone’s state of mind. When a person is happy, their demeanor is more amenable, compared to when they’re in a dour state of mind. And depending on what you’re requesting, someone’s grim state of mind might be the right mindset for you to make your request (e.g., when your appeal puts them back into a happier state).

External demands or pressures – Aligned with state of mind is the external influences applied to your subject. Claims that don’t stem from you could offer the leverage needed to give your request more perceived value. Never overlook the external pressures that might be bearing on your subject. They might be the assistance you need to have your request fortified.

Seller/Buyer goals – The tie the bonds the Timing of Request is the seller/buyer’s goals. Without a need, the probability of having your request granted decreases substantially. Therefore, before making a request, understand how it will add value to the goals of that person. If you don’t consider that, you’ll miss a vital aspect of your value proposition.

 

Words/Tonality/Pace

The words used to make requests impact the outcome of that request. Some of the factors to consider are:

  1. Reciting the same words used by your target – Psychologically, parroting someone’s words triggers a subliminal attraction to your request. That’s because, when you use the same words that someone uses, the words sound familiar to them. And of course, they will, because they’re that person’s words. Thus, the person will have a built-in infinity for those words. And that’s what will make someone more susceptible to granting your request.

 

  1. Tonality – Have you ever disliked someone due to the tone they used? Tonality ties critically into word choice. That means you can parrot someone, but if your speech is misaligned, you’ll decrease the chances of having your request granted. To add value to your request, mimic the other person’s sounds.

 

  1. The pace of speech – Another factor to consider when making a request right is your pace of speech. I’m sure you’ve heard someone say, “that person sounded like a used car salesperson.” And that’s not to demean people in that discipline. It’s to point out that speech pace conveys a sensory perception. Thus, if you talk too fast, some people will inherently distrust you. If you speak too slowly or softly, they may think you’re slow-witted. Use their speech patterns as the guide to how you should talk.

 

Leverage

Remember, when I did you a favor? The invoking of that memory is one form of an attempt to use leverage. And there’s substantial value in it.

I talk about leverage a lot in my seminars and presentations. The reason being, it’s a factor that can give a weaker positioned negotiator more power in a negotiation. And while leverage may not be readily apparent, if you’re able to uncover it, you’ll have a vital aide to assist your cause.

To use leverage when asking for an increase or decrease in an offer, depending on your negotiation position, consider the timing of your request, the needs of the other negotiator, and any time factor they may restrict the other’s ability to acquire the outcome they seek. Using leverage with those factors will strengthen your negotiation position.

 

Value of Information

People don’t realize the value of information. Thus, they freely give it away when they speak. Worse, they give away the right information at the wrong time. And sometimes someone uses that information against them.

The seller that made the earlier statement unknowingly disclosed his margins, which was valuable information for the buyer. The seller could have used that information as leverage by citing it strategically when it served his purpose. As an example, if the seller said to the buyer, “I can’t lower my price – that won’t cover my cost.” He would still be giving insight into his margin, but this time, he’d be using it to justify why he could not meet the buyer’s request.

Always be mindful of the information you give and how you dispense it. There’s value in intelligence. And the way and time that you provide information to others determine how they might use it and the chances you’ll encounter in having your requests accepted.

 

Reflection

Remember, you have the initial advantage in making requests. And that adds value to your ability to make appeals right. Because you’ve had the time to formulate your thoughts – that’s not true for the other person.

Thus, if someone doesn’t go into thought mode, or ask if they can get back to you later, they’re negotiating at the moment. That means the other person will have foregone thoughts about the strategies they’ll use. That’ll put you in a more prominent position while enhancing the chances of you obtaining what you want. And everything will be right with the world.

 

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 like to know. Reach me at Greg@TheMasterNegotiator.com

 

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

 

Categories
Best Practices Entrepreneurship Negotiations Sales Skills Women In Business

“Negotiator – How To Avoid Catastrophe From The ‘F’ Bomb” – Negotiation Tip of the Week

“Certain ‘F’ words are more potent than others. Know the ones that move you the most.” – Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)       Click to get the book!

 

“Negotiator – How To Avoid Catastrophe From The ‘F’ Bomb”

 

… and there it was. She dropped it like a missile, falling silently from the sky. She’d done it so stealthfully that her act caught him by surprise and completely off guard. Thus, he didn’t have an immediate comeback. Worse, he fumbled in his mind for a retort and found nothing there. The ‘F’ bomb had just hit him. And it created a mini catastrophe.

As a negotiator, how many times has someone dropped an ‘F’ bomb on you? Were you staggered by its occurrence? There are many types of ‘F’ bombs that a negotiator can employ during a negotiation. And they may not be what you’re thinking.

Continue, and you’ll discover why some ‘F’ words are more potent than others, and how they affect you in a negotiation.

 

Fair

“I want you to be happy with this negotiation. So, I’m going to be fair to you. Will you be fair to me?” The responder said, “I always strive to be fair in my negotiations!” Note that there was a response, but not necessarily to the question asked. The responder knew, the perception of being fair was open to interpretation, which could prove to be a trap in a negotiation.

What’s your perspective about being fair? That’s a question to ponder as a negotiator. The reason being, your view of what’s fair will more than likely differ from your negotiation counterpart. Even when there’s a slight perceptional difference, it can have a significant impact on the interaction that occurs during the negotiation. And that impacts the direction of the talks, which influences the next engagement you have with that person. That’s yet another reason I say, “you’re always negotiating.”

Suffice it to say, the word fair has a significant impact on how parties engage with one another, and eventually, it impacts the outcome of a negotiation.

 

Friend

Let’s be friends. This ‘F’ word conjures up congeniality, non-threatening interactions, etc. For the unsuspecting negotiator, it can be the wolf in sheep’s clothing that takes you to slaughter.

It can be challenging to negotiate with friends. That’s due to the mitigating circumstances of friendships. Thus, want or need to maintain a good relationship could supplant your self-desire for the best outcome. And that could lead you to make more concessions. That’s why you should be on guard when negotiating with friends or those that profess to be your friend. To avoid a catastrophe, set the ground rules ahead of time, so you and your friends are not offended by the negotiation outcome.

 

Feign

“Oh, how dare you make such a ridiculously low offer. I’m offended! Others said you are a fair negotiator, someone that would not try to take advantage of me.”

What just happened? The opposing negotiator may have been feigning bruised feelings due to a counter-proposal or offer you made. What he’s attempting is to get you to behave in a manner that suits his goals for the negotiation.

When you’re in that situation, retort, you’re trying to maximize the outcome just like he’s doing. And then ask what offer he thinks would be good. After he responds, flip the offer, and ask if he’d take it. If he says yes and it’s to your advantage, accept it.

 

Fight

Another ‘F’ bomb to be very vigilant of is the word fight. The other negotiator may present it as “there’s no need for us to fight.” The term itself could evoke bad memories from past battles in you. And that may subconsciously cause you to lower your negotiation guard, due to previous skirmishes you’ve had.

Words have power, and certain words convey more power based on how, when, and with whom they’re used. Keep your wits about you and don’t fall prey when someone suggests you not fight. If you lower your guard, you may be setting yourself up for the negotiation equivalent of a sucker-punch.

 

The Big ‘F’ Bomb

When someone uses this ‘F’ four-letter profanity word, they’re displaying a lack of respect, intimidation, or rudeness. Whichever category they’re in, they’re attempting to alter your perspective by jolting you. They might be trying to shake you out of your state of serenity just enough to make you bend to their will.

If you feel threatened or intimidated, let the other negotiator know, you won’t negotiate under those circumstances. You must be prepared to put an immediate halt to such actions, to regain control of the negotiation, less you give them more life. If you provide the behavior more substance, you’ll only sink deeper into the quicksand of despair, which will be the doorway leading to a catastrophe.

 

Fear

As much as the big ‘F’ bomb might alter your thought process, there’s another ‘F’ bomb that you should be aware of, and that’s fear. Fear can debilitate you, emotionally, mentally, and physically. That’s why it can wreak havoc on your mind, spirit, and soul. It can be daunting to control the perception of fear. But it doesn’t have to leave you in an uncontrollable position.

When you sense fear during a negotiation, assess its source. Attempt to rationally understand what you’re sensing and why you’re experiencing the emotions you have at that point. Question if it was something you saw, heard, or felt. The purpose of identifying the source is to understand the origin of the fear you’re sensing. Once you can identify that, you have a better chance to understand what’s occurring within you. If necessary, call a time-out and back away from the negotiation table. Doing so will allow you to clear your head. It will also let you see what your opponent will do next.

 

Reflection

As a negotiator, I’m sure you’re aware that many distractions can lead to an unsuccessful negotiation outcome. And the use of ‘F’ bombs is but a few of the things that can lead to a catastrophe. To decrease the probability of having your negotiation train-wrecked, observe when and how the opposing negotiator drops the ‘F’ bomb on you. It can be applied haphazardly, or with the intent to cause you mental anguish. Regardless, if you adopt a position to defend yourself, you’ll be positioned better to control the negotiation. And everything will be right with the world.

 

 

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 like to know. Reach me at Greg@TheMasterNegotiator.com

 

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

 

 

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