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Category: Marketing

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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
Marketing Personal Development

5 Reasons “Webinars Won’t Work For Me”

We’re just coming off yesterdays’ High Fee Webinars masterclass.

If you missed it, the limited-time replay is waiting for you here.

Over the years, I’ve heard all kinds of misguided excuses why webinars “won’t work” for some experts.

Here are the myths and truths behind five reasons consultants, experts, speakers, and coaches shy away from webinars – but should embrace them:

1. I don’t have my marketing house in order: What people don’t realize is that a well-designed, high-converting webinar IS a self-contained marketing vehicle. You don’t need a fancy website. You don’t need a slick sales page, you don’t need anything other than a sharply focused webinar that solves a specific problem for a specific set of people, and then a compelling offer to help them.

2. I don’t know what I’d teach that others would want to learn: That is easily figure-out-able. Using some basic internet research and doing a “listening campaign” in the specific online groups, forums, and communities, where your target market hangs out, will give you a ton of intelligence on what the hot button topics, key questions, and big problem areas are. Build your webinar around THOSE, and you win.

3. I don’t have a big list: Of course you don’t – and that’s one of the problems that a well-designed webinar can solve. Webinars are the #1 list-building and lead generation tool. I didn’t have a big list when I started doing webinars, either – in fact; webinars GREW my list by about 250%. Side note: “big” doesn’t mean a whole lot if they’re the wrong people. I’d rather have 100 super-relevant leads in my database from a webinar than 10,000 random emails of strangers.

4. I’m not ready/ good enough / smart enough: Don’t worry – there are plenty of idiots doing webinars and making a killing :o) Seriously, this is called the “impostor” syndrome, and all the wrong people have it. The problem is, the intelligent, caring, helpful experts are filled with doubt — and the shysters, phonies, and goofballs are filled with confidence. We need to switch that around. The fact is, you’ll always deliver the MOST value with what comes easily to you but is difficult for others. Just because YOU know it, don’t assume it’s common knowledge. Most likely, it is not.

5. I don’t know where to begin with the tech: Doing a webinar today is much easier and streamlined than it was even a few years ago. You don’t need to be a propeller-head geek to get all the moving parts working. Using simple online tools to create your landing pages, slides, your webinar platform itself, and your email series, this is within reach for most experts whether they have a virtual assistant or not. Some folks do it themselves. Others delegate the tech to a VA or someone on their team. Bottom line: Do not let the tech stop you from using one of the most powerful marketing tools in your toolkit.

To get the full scoop on how to develop, deliver, and monetize a high-fee webinar, watch this replay right now.

The replay could transform your business and your revenue for the rest of 2020 and beyond with more leads, better prospects, and bigger sales – NOT in spite of the current crisis – but BECAUSE of it. Don’t miss out. Grab the replay right here >>>

Are you already getting paid well for coaching, 1-1 consulting, or mentoring? Great! Then these high-fee webinar strategies are even closer than you think to skyrocket your income. Let’s make that happen for you, shall we? The link to do so is right here.

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Best Practices Entrepreneurship Human Resources Management Marketing Negotiations News and Politics Sales Skills Women In Business

“Trust Is The Most Vulnerable Victim Of Fake News” – Negotiation Insight

“Fake news’ purpose is to victimize you to altered realities. And trust is the serum that combats it.” -Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)       Click to get the book!

“Trust Is The Most Vulnerable Victim Of Fake News”

Are you a victim of fake news? Be careful how you answer that question. It’ll reveal the perspective and perception you have of the information you consume. And that determines how you live your life. News and information are two factors you use to identify with whom you’ll place your trust. Thus, the reason it’s so impactful. And trust is a factor, that will protect you from, or expose you to being vulnerable to others.

The following are points to be consciously aware of, per the impact that fake news has on your life.

 

Purpose of Fake News

The purpose of fake news is to alter your perspective. Thus, the meaning of fake news in and of itself is not divisive. It adopts a possible sinister effect when it intends to modify your reality and sow discord within you. Worse about the intent to alter your perspective with fake news is the confusion it creates. Thus, in some cases, false stories are planted to produce just enough doubt to cause you to wonder to what degree fake news is real or contrived.

Information

People deliver information with a purpose in mind. And it’s the intent of that message that you should consider when assessing the impact that you’ll allow it to have on you. That raises another point. In some instances, when you’re not consciously aware of the information you’re consuming, you may engage in actions that you’re consciously unaware of – at that point, it would be akin to you, going through the motions. And that’s the point at which you can become vulnerable to the behest of others.

First, as teachers stated, when you were in grade school, pay attention. To that point, heighten your awareness when you suspect someone may be attempting to invade your mental senses with information that doesn’t comport with your feelings. Those feelings might be good or bad.

To increase your perception, ask yourself, what’s the purpose of providing me this information? What actions am I supposed to take after receiving this insight? And, how am I supposed to think differently, now that I have this information, compared to my previous thoughts? The answers may be eye-opening for you.

 

Statements Versus Facts

I remember two friends getting into a heated discussion about the weather when I was in my early teen years. One stated that he’d heard the temperature was going to be 72 degrees that day. The other friend said he’d heard that it would only get to 68 degrees. They went back and forth as to who was right about something that most would say was trivial. The point is, they’d heard forecasts from two different sources. And as I’m sure you know – a forecast is nothing more than a good guess. It’s not the definitive end-all of what an outcome will be.

Some people state facts as certainties. Others pronounce things as facts because of the source from which they get their information. And yet others use misinformation as facts for the divisiveness it creates. The lesson here is, understand someone’s motives for the information they state as being factual.

When you have information in perspective, you can assess its relevancy of importance to other relevant information. That’s another reason you should be mindful of people that present fake or false information per their source. Because, once again, that information will alter your perspective and the way you judge the importance of other information. Thus, fake news could cause you to place less emphasis on a matter than you otherwise would put on it. When unsure of someone’s facts, to the degree that it’s important to you, do your research. And verify the sources of your research information too. That will assist you in not devolving into a more profound sense of uncertainty.

 

Leadership

Even when someone is qualified to lead, or address the endeavors of others, if that person lacks trust, due to fake news perpetrated against them, they stand less of a chance of becoming a leader. If it’s lacking, trust becomes the factor that tilts the scale away from that person, which brings into consideration the degree others will follow them.

Everyone seeks to inspire their followers. If you want others to become inspired by you, deliver consistent messages. That means, don’t state a position one day and adopt a 180-degree stance the next day. People become confused by a lack of consistency. Also, be straight with people. If you must deliver bad news, let people know why it’s terrible. And above all, don’t distribute fake news simply to appease people. Eventually, they’ll see through it and you. As the cliché goes, “you can fool some of the people some of the time. But you can’t fool all of the people all of the time.” At some point, you’re belittling of the truth will catch up with you. And more than likely, you’ll pay a hefty price for the misguided information you spewed.

 

The Blame Game

Fake news, false information, call it the same. As kids, some would deliver untruthful information to absorbed themselves from blame. And those kids became adults that use the same tactic to scurry out of harm’s way today.

When listening to someone’s story, be attentive to what they may be attempting to avoid. Ask yourself, does the story flow logically? Why would others be saying the opposite of what the first person is stating? And question who has what to gain from the stories they’re citing. The blame game can be devastating. But you don’t have to be a victim of it. Avoid it by detaching yourself emotionally from someone’s story. And then assess it.

 

Reflection

To trust your sources of information, you must trust the news you receive. That means being more attuned to what may be fake news. Everyone falls victim to others in their life. If you’re more aware of the information surrounding you, the source of that information, and the intent it’s meant to have on you, you can prevent victimhood from befalling you. Once you do, you’ll have a clearer perspective on reality. 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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Entrepreneurship Human Resources Management Marketing Negotiations Sales Skills Women In Business

“No Good – This Is Why Tone Matters In A Negotiation” – Negotiation Tip of the Week

“Tone matters when no good comes from a hero that doesn’t engage in heroic acts.” -Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)

Click to get the book!

 

“No Good – This Is Why Tone Matters In A Negotiation”

 

To what degree do you consciously lend attention to someone’s tone when they speak? It matters, especially in a negotiation. Because someone can use the same words to represent their thoughts. But it’s the tone that lends insight into the intent of those words.

One such example used in the past is, “man without a woman is helpless.” That statement might be confusing to you, as to the intent it’s meant to convey if you didn’t hear the tone of the message. Here’s the second iteration of those words, “Man, without a woman, is helpless.” That statement might become more understanding as to the intent of the speaker. She’s saying that man would be helpless without a woman. And here’s the third iteration. “Man without, a woman is helpless.” This statement carries the sentiment that a woman without a man is helpless. Thus, only when you hear the tone’s emphasis, when someone is speaking, does the meaning adopt more clarity. And in the written form, if the punctuation is missing, the purpose of the statement can also be confusing.

 

What’s Missing

Sometimes, when you’re listening to someone, you focus so much on their words that you don’t hear what they’re not saying. In a negotiation, listening to what’s not said is essential, because the missing words might indicate something the other negotiator doesn’t want to discuss. And that could prove to be vital information to your negotiation efforts.

When people speak, what they omit can be as telling about the message they’re delivering than what they’re saying. Thus, you should always be aware of what someone is saying, but you should also be mindful of what they’re not saying. Being attentive in that manner will allow you to grasp more of the intent of the message they’re conveying and the ones unspoken.

 

Emotional Reaction

Another barometer to observe is how you emotionally feel when listening to someone’s statements. Those feelings may occur within the first few seconds of the person speaking. And they may become altered as you hear more of what they’re saying. Understand what’s happening within yourself. And strive to understand how you’re evaluating what you’re hearing. That will allow you to better assess the meaning that’s being conveyed by the speaker. And making that assessment will enable you to grasp a higher sense of his intent.

 

Order

Another aspect that gives the tone a higher definition is the order in which someone presents their words. Referring back to our example, instead of the statement, “man without a woman is helpless.” Suppose the speaker said, “without a man, a woman is helpless.” If someone stated the latter, there’d be less ambiguity. Thus the importance that word order has when communicating.

 

Sight

Are you seeing what you’re hearing? Does that sound confusing to you?

To better understand what you hear, when face-to-face, listen with your eyes. That means you can gain clues to someone’s intent, based on the gestures they emit when they speak. As an example, if they smile while speaking, the smile may convey sincerity or sarcasm. It would be up to you to discern the intent of the meaning as you further engaged that person. But, regardless of your perception, you’d have more information from which to question the purpose of someone’s words. And that will give you a greater depth of that person’s intent.

 

Actions

Another way to glean insight into the meaning of someone’s tone is to observe the immediate action they engage in after they’ve spoken. As an example, if they step closers to you in a non-threatening manner, that might convey a sense of openness. They may be stating that they’re approachable. At a minimum, they’re saying that they’re not afraid of you. Contrast the same scene, but this time, that person takes a step back while frowning at you. That would send a message that was the opposite of the previous encounter. Always take note of what occurs as someone concludes their actions. The action will give you more insight into the meaning of their words and the next act they might perform.

 

Challenging Premises

There will be times when someone makes a statement that sounds like a question. That’s usually due to an octave increase on the last word placed on the declaration. When you hear such pronouncements, take note and also observe what follows. At worse, the person is not sure of what they’re saying, or they’re not sure how you perceive it. When you sense either, understand that might be a point to challenge the premise of their statement. Doing so will alert them that they can’t just say anything and get away with it. It’ll also state that you may be keener than they thought.

 

Reflection

Many times, the emphasis applied to spoken words alters the meaning of the message, which is why it’s so important to listen to someone’s tone as they speak. That’s even more important when you’re in a negotiation. Because if you miss a vital piece of information, due to your lack of attentiveness, you risk losing the intent of the message. And that can be deadly in a negotiation. Thus, when you’re negotiating or engaged in meaningful conversation, pay attention to the tone people use to emphasize the words they speak. Because someone’s tone matters, per the meaning and possible alteration, that it gives to their message. Being observant will enhance your interactions with them and make you a better negotiator. 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 Human Resources Management Marketing Negotiations Sales Skills Women In Business

“Beware Of The Concealed Danger In Friends” – Negotiation Insight

“Beware of the concealed danger that resides in friends. If perceived too late, you may not be able to avoid danger.” -Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)    Click to get the book!

 

“Beware Of The Concealed Danger In Friends”

 

When I was 11 years old, I got into trouble with the law. My friends told me they were going to commit a harmless act, and afterward, we’d have a few quarters. I asked if our actions would hurt anyone. They said no, and so I went along with them. Little did I know that decision had just placed me in danger.

How many times have you followed the suggestions or requests of friends only later to discover that they’re behest had placed you in danger? If you’d like to avoid such calamities in your future, observe the following.

 

Style Versus Substance

Some friends have a particular style about their mannerisms. Their style, swagger, and sense of confidence can sway you more than the substance of what they’re saying. Take note when you find yourself moved by someone’s style over their content. More than likely, you’re moved to action based on their body language and nonverbal cues versus the logic of what they’re stating. Take a moment to reflect on what’s occurring before you commit or engage in an action that you may later regret.

Circular

You’re not the only one that can go astray by following your friend’s advice or suggestions. Your friends can lose their credibility by following your edicts too. And that would be due to requests that later proved to be unfounded, unwise, or worse, foolish.

Thus, as you or they mind the words that either speak, both of you must be mindful of where they may lead. Therefore, if the statements don’t support your future position, don’t state them. And, if you sense that danger may lay ahead, create a quick-response plan to deal with the fallout.

Truth be known, you should already have thoughts prepared ahead of time of how you’ll respond in certain situations. You should also have a mental picture of how you’ll explain your position. The purpose of this would be to help you correct the errant actions that might occur due to incorrect thinking. Since you and your friends can harm one another based on your acts, you should always be prepared to defend yourself and them by thinking before you act.

Images

He saw a box of peanut brownie biscuits. Immediately he smiled as he imagined how wonderful they’d taste. So he bought them. And when he bit into the first bar, a frown creased his face. The taste did not meet with his approval. He wondered why he’d bought them and muttered, “I should have known better.”

Friends create images of outcomes when you interact with them. And that’s another reason you should be mindful of those that you accept into your friend category. They’ll have sway over your perception, which will influence your opinion and perspective about things.

It’s always best that you’re aware of the image your thoughts create. Those images will move you to adopt an action faster or slower based on the degree they resonate with you. And that will set you on one path versus another.

Compromising Positions

She wanted to be a good friend. So, since she was the president, she attempted to get her friend on the board. The reality was, the committee had already voted, no, to accepting her friend. But her obligation to her friend placed her in a position to contest the committee’s vote. Thus, she placed a higher priority on appeasing her friend than the members of the organization she was supposed to be supporting.

That’s the type of position you can find yourself in when a friend is insistent in placing you in a dangerous situation due to their request or demand for what they want from you. And that’s yet another reason that you must be extremely cautious of toxic relationships. They can place you in compromising positions, which will emotionally tear you between what’s right and what they want you to do right now.

When you’re confronted by a friend that becomes assertive about you engaging in an action that compromises your values, consider it time to exit that friendship. You’ll save yourself the damage of being placed in future danger.

Your Future

No matter who you are, you possess seeds of greatness. But those seeds will only blossom into the fullness of their potential if you’re alert to whom you allow into your life’s garden. By minding your friends, you can increase the probability of those seeds delivering the fullness of their intent. And your future days will be better than the ones that have occurred in the past.

Reflection

A snake’s poisonous bite affects your body. And like the poison delivered by a snake, a small request made by a friend can alter your thinking, and place you in danger. And that’s something that you should always seek to avoid.

Once you control to whom you accept friendship and the information that flows from them, you’ll be able to control better the thoughts that pass through you. That will allow you to engage in better decision-making processes. 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 Human Resources Management Marketing Negotiations Sales Skills Women In Business

“Good Negotiators Know How To Avoid Compromise Danger” – Negotiation Tip of the Week

“How you compromise today impacts tomorrow’s opportunities.” -Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)

Click to get the book!

 

“Good Negotiators Know How To Avoid Compromise Danger”

 

He wanted the opposing negotiator to perceive him as possessing an amiable demeanor. So, he smiled a lot and made one concession after another in the opening phase of the negotiation. He even offered several compromises that were not to his favor without a request to do so. Little did he realize the danger that he was creating for himself. But he’d sure find out later.

Making concessions and compromises is an act that negotiators must engage in during a negotiation. And, since there are many ways to compromise during such times, if you don’t do it correctly, you place the favorability of a successful negotiation outcome for yourself in danger.

The following are factors to be aware of, and in some cases, concern yourself about before making a concession. Because, the manner you do so, signals how you might compromise your position throughout the rest of the negotiation.

 

Planning Stage

During the planning stage of the negotiation, assess how you’ll use concessions to compromise the other negotiator’s position. That means you should view compromises and concessions as a tactic, one that you employ strategically. To do that, assess where choke points might occur in the negotiation, based on potential points of contention. In your assessment, evaluate what you can offer to move him favorably away from the point of dispute. And estimate if you’ll use a concession or compromise to enhance your position. Also, consider what you’re willing to forgo to entice that move.

 

Factors

When you’re in a negotiation, be aware of the following factors.

  • What the other negotiator’ really’ wants from you – It may be different from what he states.
  • Why he’s seeking what he wants from you – You may be a pawn used as leverage to get his real target to compromise.
  • Who else might he be talking with to obtain the outcome he’s after – Always attempt to know who’s not at the negotiation table – they might be your competitor.
  • What timeframe he’s dealing with – Time is a potent weapon in a negotiation.
  • What he might do as time begins to run out – Question if he might become irrational – If so, he may become more open to compromise.

And, depending on your negotiation circumstances, you should create additional factors that may sway the negotiation. Doing so will allow you to anticipate the actions that your opposition might engage in to acquire the outcome he’s seeking from the negotiation. It will also give you a guideline about when and how to make concessions. And that insight can be priceless. Thus, always attempt to understand the full story of what’s occurring in your opponent’s environment. And, remember that he’ll be making the same assessment about you.

 

Compromise vs. Concession Label

While some negotiators view making concessions as a form of compromise, you can commit to one without engaging the other, while giving the appearance that both are the same. As an example, if two negotiators were a $1,000 apart and one said to the other, let’s compromise and split the difference. At that point, he’s stating that he’s willing to concede $500 (i.e., 1,000 divided by 2). While the negotiator making the offer may view that as a concession, depending on your anticipation of what he might ask for later, label his proposal a concession or compromise. Do that based on the label that’ll serve you best in the negotiation. Because, he may attempt to say later that he made a concession or compromise, whichever phraseology would be beneficial to his position, and then ask you to indulge him by you offering one.

Whether you compromise or concede points in the negotiation may sound like a point without a difference. But the point of difference lies in how a smart negotiator may use the perceptional difference to advantage his position. The point is, be mindful of how you compromise or concede, and how it’s perceived when you and the other negotiator exchange positions. The label you apply to your actions and the way you do so sets the tone for what will follow.

 

Ploys (hook, story, offer)

Ploys are something else to concern yourself with related to compromise requests. You or the other negotiator may use them at strategical points in the negotiation. You can determine their effectiveness by how dire one’s position is when they’re employed, and the outcome they produce.

Hook

The other negotiator says to you, ‘this is going to make you a star. So many people will be envious of you.’ He’ll make statements such as those to orientate your thoughts to the future. The intent is to emotionally tie you to the feeling you’ll experience once you’ve acquired his offer. Be alert – it’s the set-up for what’s to follow.

 

Story

The story embellishes the hook. It’ll have a variance like, “we’re almost out of this. Someone else said they’d be right down, but you’re here right now. So, if you want it, it’s yours.” The implication being, you must act quickly. Be mindful of the manipulation attempt made to motivate you to act quickly.

 

Offer

The dialogue may go something like, ‘… so, you’re taking my offer, right? No! You’re crazy if you don’t accept this deal! It’s the best one you’ll get. And if you don’t take it, your competition will snap it up. And he’ll be the one getting all of the accolades that would have been yours. So, you better grab it quickly before I change my mind.”

 

Suffice it to say, when the hook is strong, you become more susceptible to compromise. Thus, be aware of how you feel when you hear a story that attempts to move you to accept an offer emotionally. At that point, you’ve been set-up passionately and exposed to the concession request that’ll follow.

 

Restraint

In every negotiation, negotiators must be attentive to restraining themselves. Sometimes an offered deal appears so appealing that inexperienced negotiators jump at the offer only to discover later that they could have done better. Don’t let that happen to you. Always keep your wits and emotions in check in a negotiation.

 

Reflection

As a negotiator, always be aware when you may be pushing a rope uphill. That means there will be times when a deal can’t occur due to reasons beyond your control. Thus, no matter how much you compromise, you’ll only get further away from the next deal you negotiate with that person or entity. So, to avoid danger from compromise, understand how, when, and why you make concessions. And be alert to the earlier mentioning. Combining all the variables mentioned will make you a better negotiator. 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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Best Practices Entrepreneurship Human Resources Management Marketing Negotiations Sales Skills Women In Business

“Look – This Is What Containment Is Like In A Negotiation” – Negotiation Tip of the Week

“Containment can be good, depending on who’s containing whom.” -Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)

 

Click to get the book!

 

“Look – This Is What Containment Is Like In A Negotiation”

 

He muttered softly aloud, “I feel restricted. I can’t maneuver nor implement the negotiation strategies that I’d planned to use. He’s keeping me contained within boundaries of which I was unaware.”

Since the time you were in your mother’s womb, you’ve fought containment. And containment continues to occur in many aspects of your life today. Sometimes containment is favorable, and sometimes it can be unfitting. Thus, when it’s in your favor, it provides shelter from harm. But if you’re the one contained in a negotiation, it can be very detrimental to your negotiation position. Nevertheless, you and the other negotiator engage in a constant dance throughout the talks to see who’ll come out on top of the containment battle.

While containment can be useful, it can be constraining in a negotiation. And that may not necessarily help your negotiation efforts. What follows are insights about how containment occurs and why it can be so devastating.

 

Assumptions

You discover your negotiation efforts are restricted. Now, what do you do? Just because it’s occurring doesn’t mean you have to let it continue. That means, be mentally flexible with your thoughts and acceptance of new ideas while attempting to free yourself from containment.

By keeping an open mind, you open the doorway through which new ideas may enter. And if allowed life, you never know where that idea may take you. The end of the path may be freedom from containment. Now, let’s switch perspectives.

Sometimes, the caveat swallows the premise because you’re too affixed to the latter. Say what? That means, never close your mind to a warning because you believe it’s impossible. You may receive intuitive signals that something’s not right, situations closing in, etc. If there’s a probability of that occurring and you’re sensing it, based on the effects it might have on you, prepare to challenge a premise. The point is when negotiating, always be willing to reassess your position and perspective. Life is an ever-changing occurrence, and so it is when you negotiate.

 

Mind Control

Have you ever had your fortune told by a carnival fortune-teller? She looks for signs on your person to detect insights about you. As an example, if she observed that you were poorly dressed, she may have stated that she sensed you were dealing with challenging times. If viewing a faint lightness around your ring finger, she may have said that she sensed that you’d had some recent personal issues with a loved one, etc. After she made a few pronouncements that you agreed were accurate, you became more prone to accepting new assessments she made about your future.

A good negotiator uses some of the same tactics to endear himself to get you to bond with him. He knows, the more you bond with him, the more likely you are to agree and accept his proposals.

There’s another influencing factor at work, too. It’s called consistency. And it plays with your emotions. It does so when you think, well, she’s right about most things discussed so far, I might as well accept this. Don’t do that! Don’t let expectations get ahead of reality. Be aware of what’s moving you to action and where it’s leading. Being unaware can prove to be a trap from which it becomes difficult to extract yourself.

 

Containment

Speaking of mind control, be careful of what you believe. When negotiating, a good negotiator knows it’s easier to move her opposition to her point by getting him to agree with something he already believes. Thus, when she links a thought that he agrees with to her offer, he’s more apt to acknowledge and accept her proposal. And that’s why you should be aware of how someone can turn your beliefs against you.

Once you embrace an assumption as the truth, and one you believe in, you become prone to accepting other similar premises. Psychologists state that’s due to the consistency factor. Everyone wants to maintain consistency in what they’ve said or done in the past. Thus, they find inner conflict when they rebel against what was their current beliefs.

 

Hidden Commands

Have you ever stopped to think about the number of hidden commands you encounter every day? A good negotiator uses hidden or embedded commands frequently in a negotiation. It’s part of his containment strategy.

Look, buy, like, this is, are suggestive psychological words intended to move you to action. I used several of those words in the title of this commentary. And you may not be aware of their effect unless you’re mindful of the impact they’re having on you at the moment. To assure that they don’t manipulate you when you hear them, note when you hear them. Then, be prepared to confront their intent. By doing that, you’ll decrease the probability that you’ll be contained in an unwanted position by your counterpart.

 

Reflection

In every negotiation, seek to give the other negotiator the feeling that she earned the concessions she received. She’ll respect you for that and value what she obtained with her talents versus the perception of a gift you gave her.

Therefore, when she attempts to tie you to her emotionally, understand that it’s another way for her to contain the emotions you have during the negotiation. And, by being mindful of containment throughout the negotiation, you can better dodge the pitfalls that might otherwise occur. That will allow you to be more successful in your negotiation efforts. 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 “Sunday Negotiation Insight” click here https://www.themasternegotiator.com

 

 

 

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Body Language Entrepreneurship Human Resources Management Marketing Negotiations Sales Skills Women In Business

“These Are The Best Hidden Secrets About Shoulder Shrugs” – Negotiation Insight

“The lack of understanding of a shoulder shrug can leave hidden secrets concealed.” -Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)

 

 

Click to get the book!

 

“These Are The Best Hidden Secrets About Shoulder Shrugs”

 

“Were you involved with those other people that ransacked Mr. Smith’s store?” No was the answer to the question. “Then why did some of the people that confessed say you were there?” I don’t know, was his response as he shrugged one shoulder. “You’re not telling the truth! Don’t try to hide your secrets. I can tell when you’re lying!” I’m telling you the truth was the statement made as he displayed a double shoulder shrug.

You might wonder why it’s so important to understand the meaning of shoulder shrugs. And the answer is, they unlock secrets into the thoughts occurring in the person emitting them. Because to possess a lack of meaning about shoulder shrugs is to have a lack of insight into the person with whom you’re communicating. In essence, the person is signaling the need to protect himself. From what is the answer you should seek. Thus, the better you become at interpreting nonverbal signals that shrugs offer, the more able you’ll be at understanding the secrets that others attempt to conceal from you, and why they do so.

 

Analysis

To better understand the meaning of a shoulder shrug, you must observe what’s occurring when the action happens. That’s because people emit shrugs based on how they feel at a specific moment. And the gestures occur to secure one’s inner self, their emotional state of mind, or to add additional meaning to what they’re saying.

When displaying a shrug, to add additional meaning to one’s words, the act can become exhibited to convince you of a lie they’re telling, or an attempt to enhance the believability of their truth. And that’s the reason it’s so important to observe when the gesture occurs.

If someone senses that you may be in the process of uncovering their lie, they may become more defensive, which might cause them to shrug both shoulders. The meaning of that act, in that situation, would be an effort to make a smaller target of themselves. That’s something everyone instinctively does when they’re attempting to protect themselves. And that act would be the attempt to conceal the lie flowing from the mouth. Someone’s head might also become tucked to protect the throat better.

You can detect when a lie versus frustration is causing a shrug by the degree that one tucks their chin to protect their throat. As an example, when someone attempts to convince you of their truth, and they emit a shoulder shrug, they may do so with more of their throat exposed. They’re stating through the throat-exposing gesture that they want you to believe their words and accept them as the truth, as they think it to be.

When accessing the meaning of shrugs, keep in mind that the truth is what someone believes it is. Thus, someone may display a signal contrary to what’s above per them telling the truth versus a lie. That means, they may expose the throat to protect a lie because they don’t believe they’re lying. Hence, it can become complicated to discern without a doubt that someone is displaying a gesture per how you perceive it. So, when you’re unsure of a gesture’s meaning, note when it occurs at other times during a conversation.

Single vs. Double Shrugs

  • Single shrug – A single shrug can be a softer form of communication, but you should note what it’s accompanied by when comparing it to a double shrug. As an example, if someone cocks their head to one side while lifting the opposite shoulder, you might assume the person is inwardly confused. Because that gesture is not natural. Try it, and you’ll better understand what I mean. Tilt your head to the right and lift your left shoulder. It feels acquired, doesn’t it? In general, a single shrug can denote the perception of being in a less threatening environment than what a double shrug might indicate.

 

  • Double shrug – A double shrug, in most cases, is a more substantial commitment to what the person said. Which means, he’s most likely in more of a protective state. That could also imply that you’re closer to uncovering secrets that he’s trying to withhold from you.

Remember, shoulder shrugs are a form of protection. They make a smaller target of one’s body. Therefore, when you see a double shrug after you’ve observed multiple single shrugs, take note of it. You’re more than likely getting close to uncovering something that’s hidden.

Validating Shrugs

To validate the meaning of someone’s shrugs, ask questions that gradually irritate them. By ‘turning up the heat,’ you’ll sense how exposed they feel by the line of questions you’re posing. While asking what you believe to be non-threatening questions, observe when, or if, shrugs occur. One point to note is when shrugs arise based on what you expect. Another point is when they don’t ensue when you expect them to happen. The purpose of that observation is to attune your perception of that person’s behavior. In both cases, you’ll gain information to compare someone’s actions later. And that’s the process that you can engage in to validate the meaning that someone gives to their shrugs.

 

Reflection

Shoulder shrugs can send different signals, depending on the sender of the act. But if you establish the meaning someone gives to their shrugs, you’ll gain insight into what the shrug means to them. Once you have that insight, you’ll have the key to understanding when they might be lying, and when they may be telling the truth. And that will give you more understanding into why and what secrets they’re attempting to conceal.

I state that you may have that insight, which implies you may not. That’s because there’s no science to confirm the exactness of someone’s shrug that states that everyone performs the gesture in the same manner in the same situation. Nevertheless, if you employ the guidelines mentioned, you’ll have a higher perspective about the silent shoulder shrug signals people are sending when you’re communicating with them. 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 “Sunday Negotiation Insight” click here https://www.themasternegotiator.com/greg-williams/