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Entrepreneurship Investing Management Marketing Negotiations Operations Sales Skills Women In Business

Influence: How to Surprisingly Win More in a Negotiation

 

“To win more negotiations, use the power of influence.” -Greg Williams, The Master Negotiator & Body Language Expert

During a negotiation, you, and the other negotiator attempt to influence each other. Thus, you should always place a high value on using influencing strategies. You can increase the value of your negotiation outcomes by using the influence techniques that follow.

Psychologists have identified six forms of power that you can use as sources of influence in your negotiations. They are:

1. Coercive power

(threats & punishment) – With this form of power, you can force the other negotiator into a position of acceptance. But you should be mindful that you’ll more than likely not make a friend of him. Plus, by using threats and punishment as incentives for acquiescence you may become perceived as a bully – this may heighten your opponents need to seek pay-back. If that’s not a concern, recognize when this source of power is a viable influence tool. Just be aware of its blowback danger and how you use it.

2. Reward power

(ability to offer incentives) – Reward power can be very temporary. Its value will decline as the perception of the reward devalues. When using rewards as a source of influence, do so from two perspectives.

  1. Positive – “This is what you’ll get, something pleasant if you give me what I want.”
  2. Negative – “This is what you’ll lose if you forego my offer.”

3. Legitimate power

(influence based on your position or title) – The challenge with legitimate power is, one must accept it before it has authority. Therefore, if you have a position or title that’s not perceived as being valid, you’ll have little influence when attempting to use it in a negotiation. When using this source of power for influence, be sure to cast it in the light of perceived validity before the negotiation. That will enhance the respect and appeal of this power.

4. Referent power

(influence based on your likability or admiration) – People that possess an affable personality tend to become better received by others. While reverent power has its place on the influence scale, some negotiators will dislike you for possessing this attribute. To have this influencer serve you better, balance it based on what’s occurring in the negotiation. When it suits your position, be reverent. When it doesn’t, discard it.

5. Expert power

(influence based on your knowledge and skills) – The perception of expert power can be fleeting – because it’s situational. It lasts for the time that your knowledge is needed. In a negotiation, if a seller or buyer can acquire what she seeks from another provider, your power erodes. When using expert power, be strategic. Use it sparingly in situations that are warranted.

6. Informational power

(not tied to your competence) – This can be power derived from ideas, opinions, access to thought-leaders, and influential people you meet and have access to. This form of influence is most powerful when the other party wants access to the information you possess. Its power becomes enhanced when you’re the only source that can grant access to what’s sought.

As in any negotiation, the manner of influence you use should be determined by the personality type that you’re negotiating against. Thus, to be more influential, you must know what will motivate that individual. One way to determine that is to evaluate whether the person is a giver or taker – the giver seeks power for the sake of helping others – the taker does so for the benefit of himself.

Once you have that knowledge in hand, you’ll have the key to which combination of influence to use. That will lead to more winning negotiation outcomes … 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 really like to know. Reach me at Greg@TheMasterNegotiator.com 

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

#Influence #Negotiate #Process #Power #Powerful #Emotion #Business #Progress #SmallBusiness #Negotiation #NegotiatingWithABully #Power #Perception #emotionalcontrol #relationships #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions

 

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Best Practices Management Marketing Negotiations Sales Skills Women In Business

Caution: Conflation Can Expose Crazy Dreaded Consternation

“Caution – conflation can cause consternation when the wrong thoughts control you.” -Greg Williams, The Master Negotiator & Body Language Expert  

Was she confused? She didn’t know if she was conflating dissimilar occurrences or becoming consumed by #caution. #Conflation can do that she thought – cause your mind to accept dissimilar occurrences as being similar – even when logic dictates otherwise. She realized her perceived dilemma was leading to #consternation. And that was something that she didn’t want to deal with.

The Situation:

She posted her article in the usual manner. But it didn’t populate automatically as it usually did. Then, a message that should have gone to her special list didn’t occur – now what, she wondered. Those processes are on different platforms – that can’t be related, or can it? She felt a sense of foreboding wailing inside of her as she questioned herself as to whether she was conflating two situations that were independent of one another.

The Problem:

Sometimes we conflate dissimilar events and situations and begin to see them as one combined occurrence. You’ve more than likely heard that “things come in threes” – and that’s usually associated with negativity. So, why do we do it? Why do we subject ourselves to crazy thoughts that causes dread – that cause us consternation? In part, that’s due to what we’re focusing on and what we expect to see.

Consider this – if we weren’t looking for the “things come in threes” scenario, we wouldn’t spot the second iteration of the first thing in that occurrence. Thus, the third occurrence would never have life. We can really drive ourselves crazy assembling disjointed occurrences into a seemingly logical progression – especially when logic screams at us about their mismatch. You and I need to be cautious as soon as we start down that path – it can lead to crazy dreaded consternation.

The Solution:

First, when you’re thinking with a mindset that defies logic, think about the way you’re thinking. Continuing along your current path of reasoning can make things get worse before they become even worse. Stop your crazy thinking before it stops you. To do that, note:

  1. Conflation isn’t bad. Your appeal can be summoned by a combination of good and bad thoughts that appear to be dissimilar. That doesn’t necessarily mean there’s harm in them. Both negative and positive conflation can be a plus. To assess when it is, note how it serves your goals. If it does, consider progressing your thoughts along the lines that you’re engaged in. If they’re not serving you, stop!

 

  1. Recognize the ‘headspace’ you’re in. Since your environment influences your thoughts, and impact your actions, take into consideration the environments you’re in – do so while considering the ones that you’ve been in recently. We’ve all heard about misplaced aggression due to situational occurrences that happened in another environment. To that end, even consider thoughts that aren’t prominent in your mind – silent thoughts can be like a vanishing ghost that wreaks havoc and then disappears back into nothingness.

 

  1. Question if you’re on a slippery slope. One line of thinking will naturally extend to the next thread in the string – if you fail to monitor it. When you sense you’re being filled with despair, question what scenarios you’re conflating. Ask yourself if they really belong in the same thread. To assess that possibility, listen to logic – it can be a strong arbiter for why you should adopt one belief over another.

What does this have to do with negotiations?

You may become consumed by crazy thoughts in a negotiation. Those thoughts may cause you consternation. Unless checked, you may find yourself mired by despair – wondering how you got there and how you’ll free yourself. During such times, you run the risk of being illogical, which will cause your negotiation abilities to wane. To prevent that from occurring, be mindful of your emotions. Understand what’s motivating you to think the way you’re thinking. And realize, if you’re not thinking right, the right things won’t occur.

The point is, you must isolate yourself from conflation when it doesn’t serve you and embrace it when it does. To know the difference, you must know what’s driving your thoughts and recognize where those thoughts are taking you. Then, and only then, will you have control over your thinking … 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 really like to know. Reach me at Greg@TheMasterNegotiator.com

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

#Negotiate #Process #Power #Powerful #Emotion #Business #Progress #SmallBusiness #Negotiation #NegotiatingWithABully #Power #Perception #emotionalcontrol #relationships #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions

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Personal Development Sales Women In Business

Women Make More Than 80% of Buying Decisions!

When her husband or partner asks, “What’s for dinner, honey?” he’s actually telling her to plan this week’s meals, make a shopping list, buy this week’s food, make each buying decision and charge it to their card, come home and put everything away, prepare tonight’s dinner, and serve him a meal.

Yes, we said, “make each buying decision”. According to Forbes, women made 80% of the buying decisions back in 2015. And it’s even higher today. In March, we celebrate Women’s History Month, and these facts are becoming more and more relevant.

Historically Honoring Women

In 1980, President Jimmy Carter acknowledged March 2-8 as National Women’s History Week. But by the end of 1987, Congress announced that March would permanently be National Women’s History Month.

Female Power

We recently witnessed an incredibly historic election, where more women than ever in our country’s history were elected. The Speaker of the House and both senators in our state of California are women. Statistically, women vote more frequently than men, and they’re making more and more decisions on their own. What does this all mean?

For one thing—it’s democracy in action, plain and simple. We also think it bodes well for the US. We are overdue to embrace many skills women have excelled in. Whether these skills are hereditary, or whether they come from culture, environment, or education, they are sorely needed.

A Woman’s Advantage

Where men seem to complete tasks and thoughts linearly, women seem to excel at multitasking. Mothers are often the ones to juggle finances in order to meet their family’s budgets. A woman’s so-called “nesting instinct” may make her more likely to hone in on security, avoiding conflict, and discovering common ground. Women are also more likely to choose to work in a team-based environment, rather than trying to do it alone. Sounds like something we need right now, doesn’t it?

Our Own Experience

Barefoot Wine was aimed at a 35-year-old mom with two children, making her way through the grocery store, looking for a reliable wine that fit her budget.

Our business was mostly run by women. Two of our four Board of Directors members were women. Our VP was a woman, and she had total veto power. Our Marketing Director, Winemaker, Traffic Manager, Accountant, Office Manager—all women. And we had one of the first female Sales Managers in the industry. Plus, Bonnie, our Co-founder, has her own footprint on the label of what is now known as the biggest wine brand of all time!

Simply Put—It’s Good Business

Women have a multiplier effect. Rarely do they ever buy just for themselves—they buy for their partner or entire family. Any business should understand that if the market were gendered, it would be female. This is truly the power of the purse!

Women demonstrate their concern about the environment. Nielsen released a report that shows how today’s consumer prefers products that advertise sustainability, and we now know that 80% of these consumers/purchasers are female. Mothers want to give their kids a thriving environment in which they can enjoy their future. They do this by voting with each purchase.

We are eternally thankful for women’s contributions over the years, and especially now as they confidently and firmly take our economy and government by the reins. We are excited to see their natural cooperation and preservation tendencies play themselves out, both in politics and in business. We continue to encourage young women to start a business of their own and speak out for what they believe in.

Women: The world is ready to invest in your products and to listen to what you have to say!

You continually make a positive difference, and everybody benefits from your contributions. Women of the United States—Thank you!

For more, read on: http://c-suitenetworkadvisors.com/advisor/michael-houlihan-and-bonnie-harvey/

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

Stop Complaining and Do Something About It!

“Complaints are like infections. If neglected, they can harm you.”   -Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)

Two friends were talking. One said to the other, “I don’t get enough sleep – I’m gaining weight – I sit at the computer too much. And, I don’t exercise like I use to. I wonder if that’s why I’m putting on weight? I know all of that is bad for my health. But I must continue creating content. And, I must respond to the hundreds of people that reach out to me through email and social media every day. My life is spinning out of control and I don’t know what to do to balance it!”

Finally, the other friend said, “stop! I’m your friend – I care about you. Listen to yourself – you have the answer to everything you’ve complained about. If your complaints meant that much to you, you’d do something about them. You’d take action to address and correct them.”

Have you caught yourself complaining about what appeared to be a dilemma – something that caused you angst – something that you didn’t do anything to correct? If so, what you proclaimed to be so perplexing was not as challenging as reported. Because, like the one friend said to the other, if it created the degree of torment you stated, you’d do something to address it.

Here’s the point. There are times when you complain to solicit empathy from those you complain to. Recognize when you’re doing that. Because you’re not ready to take action – you just want to shout aloud about what you’re experiencing. You may be seeking feedback to comfort your mind, not feedback that’ll move you to action. Contrast that to when you become tired of complaining about something. That’s when you’ll take action. To note the difference in your mindset, note the differences in your actions.

Action Item:

If you’re seriously fed-up with your circumstances, if you’re tired of what’s stopping you from greater improvement, you’ll stop complaining and take action to alleviate its cause. Start to note the times when your complaints increase or decrease. Begin to observe the emotional upheaval you experience when thinking about a complaint that causes you anxiety. Pay attention to the degree of change that occurs in you – note when you think you might take action to address your concerns. That process will help you measure your mental perspective about your perceived challenges. It should also be the distant call that moves you closer to taking action sooner than later. That will be a time when your self-actualization and happiness embrace … and everything will be right with the world.

What does this have to do with negotiations?

Most likely, you’ve complained about not negotiating efficiently. When it occurred, did you anguish about it? There are two possible reasons why you might not have negotiated better. Either you didn’t plan properly or, you didn’t create a better strategy in your planning process. How many times has that happened throughout your life? A better question might be, now that you’ve heightened your awareness, what are you going to do about it going forward?

If you’ve complained about the negotiation outcomes you’ve had in the past – if you thought you could have negotiated better. Do something about it – stop complaining! You don’t have to learn more negotiation and reading body language strategies from me. But, to assuage your own emotional state of mind, seek insights from someone that can teach you how to become a better negotiator. Take action – that’ll allay your complaints.

Remember, you’re always negotiating!

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

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

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

#StopDoingIt #Complaints #Negotiate #Process #Power #Powerful #Emotion #Business #Progress #SmallBusiness #Negotiation #NegotiatingWithABully #Power #Perception #emotionalcontrol #relationships #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions

Categories
Best Practices Body Language Entrepreneurship Human Resources Investing Management Marketing Mergers & Acquisition Negotiations Sales Skills Women In Business

Shoulder Shrugs Can Expose Scary Secrets in a Negotiation

“Shoulder shrugs expose secret information. Notice them to detect their secrets.” -Greg Williams, The Master Negotiator & Body Language Expert

Have you heard the cliché, “what you don’t know can’t hurt you”? If you have, do you subscribe to it? If you do, you shouldn’t. Because, a lack of knowledge can expose you to scary secrets in a negotiation – secrets that can bite you at the most unsuspecting points in the negotiation. But, there’s one way you can protect yourself. How – by accurately interpreting the meaning of shoulder shrugs when you negotiate.

Shoulder shrugs convey secret information. They expose hidden thoughts of the person that’s attempting to hide those thoughts.

Observe the following shoulder shrug examples. You’ll obtain hidden information that those shrugs attempt to conceal.

When a person displays a shoulder shrug, it can represent a multitude of hidden meanings. It can be a sign of reluctance (i.e. what more do you expect of me) – a sign of protection (i.e. I’m not going to stick my neck out) – it can also be a sign of exasperation (i.e. I’m getting tired of this). Regardless of the hidden meaning, it gives additional insight into the thoughts of that person.

Single Shrug: A single shrug can denote a lack of full commitment in response to a question or statement made.

Leaning Preference

  • When displaying a single shoulder shrug, a person will tend to favor their dominant side. This is important to note – because it adds additional meaning to the shrug. As an example, if someone that’s right-handed shrugs their left shoulder, he may be displaying less of a commitment to the response that caused the gesture. As with everything related to reading body language, you must establish someone’s body language foundation before you can accurately assess the validity of their actions.

Double Shrug: A double shrug (both shoulders elevated) can connote more commitment to a reply or statement.

As an example, if one elevated both shoulders while stating, “I didn’t do it”, she’d be displaying more commitment to the statement then if she displayed a single shrug – note: to discern the probability of the truth you should still probe deeper. The act of the shrug is that person’s commitment to her pronouncement at that moment – it can change with further probing.

Leaning Preference

  • When someone performs a double shrug, that person’s hands provide additional insights. As an example, if an offer is made consisting of two items and the recipient says, “I don’t care”, while shrugging with one hand higher than the other, he’s nonverbally expressing a preference for one of the items – the preference lies in the order the items were offered or their proximity to the hand that’s higher.

Additional Shrug Meanings:

Hands: The movement of someone’s hands lends insights into their thoughts. To gather additional awareness per the meaning of a shrug, take note of …

  • hands close to the body – indicates they’re guarded
  • hands palms-up – signals they have less to conceal
  • hands palms-down – they’re less accepting
  • hands palms-up-and-out – says, keep away from me

Head Tuck: To observe how threatened someone might feel when they shrug, note the degree they protect their head when …

  • head extends forward – says, I’ll challenge you
  • head to one side – denotes preference
  • head straight up – states, I’m willing to expose more of myself
  • head tucked – says, I’m making myself less of a target

Of course, the additional shrug meanings can conceal someone’s real intent. That’s because good negotiators can affect this maneuver to add perceived emotional credibility to their effect.

Shrug Time:

Always note the length of time a shrug lasts and the number of times they occur. The length and number of times will indicate a person’s ever-changing degree of angst or determination to get you to back off. In all cases, they’ll be signaling information that you can use to enhance the negotiation.

Action Item:

Start noticing when, under what circumstances, and how frequently people shrug their shoulders. Doing that will increase your attentiveness and skills about this behavior. That will allow you to become 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 really like to know. Reach me at Greg@TheMasterNegotiator.com

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

#ShoulderShrug #secrets #NegotiationStrategies #negotiator #BodyLanguage #Liar #Beware #Negotiate #Process #Power #Powerful #Emotion #Business #Progress #SmallBusiness #Negotiation #NegotiatingWithABully #Perception #emotionalcontrol #relationships #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions #BodyLanguageSecrets

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Accounting Best Practices Economics Entrepreneurship Industries Investing Negotiations Sales Technology

Bitcoin’s Highs and Lows: Where to Next?

Since the critical acclaim of Bitcoin and digital currencies in 2017, there has been a lot of talk about its future. Bitcoin was the first digital currency to attract mainstream attention, and after that, 2018 was less than glamorous, with the price plummeting.

Are cryptocurrencies a thing of the past already, or a Hard Trend of the future?

A Bitcoin Overview

Cryptocurrency uses peer-to-peer technology, similar to the file-sharing technology of the early 2000s. Bitcoin was the first cryptocurrency, it being virtual and decentralized. This means no one is in charge of it and it isn’t backed by the government. Bitcoin’s value is protected only by a distributed network that maintains its ledgers and protects its transactions by means of cryptography.

The concept behind Bitcoin first emerged in 2009 by an anonymous programmer (or programmers) using the pseudonym Satoshi Nakamoto. A single Bitcoin is today valued at $8,204, while the market cap is now at $145.66 billion.

Every Bitcoin is connected to an address and every Bitcoin is sent or received by a digital wallet attached to the address. Names aren’t associated with the transactions, creating a system that is wholly transparent while remaining functionally anonymous.

Bitcoin: A Soft Trend?

What exactly can you do with Bitcoins? It’s digital currency, so saving or spending them seems to be the immediate answer. However, in order to spend them, individuals and, more importantly, businesses must accept your Bitcoins. While a growing number of businesses accept Bitcoin, such as Overstock.com, most popular merchants and service providers including Amazon do not.

Let’s first discuss my Hard Trend Methodology and the differences between Hard Trends and Soft Trends to assess Bitcoin’s longevity.

A Hard Trend is a trend that will happen and is based on measurable, tangible, and fully predictable facts, events, or objects. They are future facts that cannot be changed.

A Soft Trend is a trend that might happen and is based on an assumption that looks valid in the present, and it may be likely to happen, but it is not a future fact. Soft Trends can be changed.

While Bitcoin itself grew in popularity, its future success is still a Soft Trend. During 2017, Bitcoin was treated by many as more of an investment than actual currency and likewise faced backlash when it was used for illegal online transactions.

However, the concept of cryptocurrencies is a Hard Trend, and here’s why:

Cryptocurrency: A Hard Trend

Cryptocurrencies are here to stay, including the underlying technology (blockchain) that enables them to function. Cryptocurrency, as well as blockchain, represents a radically new idea in finance: a decentralized system for exchanging value. Due to its open-source nature and its copyright-free core program, there will always be room for improvement. Programmers around the world have already developed military-grade encryptions and new ways to trade, thus stabilizing the prices.

Cryptocurrencies exist as mere entries in a blockchain-enabled accounting system. That system acts as a transparent public ledger that records transactions among “addresses.” Owning cryptocurrency isn’t analogous to having paper money in your pocket. Instead, it means a personal claim to an address, with your own password, and the right to do with it as you see fit. Over time, this will increasingly disrupt traditional models and global currencies, playing a role in a number of future digital transformations.

The Future of Currency: Digital Payments

Imagine you want new shoes, and your favorite shoe store accepts some form of cryptocurrency. If you don’t already possess cryptocurrency, you purchase some from a crypto-currency kiosk or an online exchange and assign it to your online account, known as a “wallet.”

When paying for your new shoes, you open your “digital wallet,” which is unlocked with passwords and/or biometrics, and the currency network is publicly informed that you’ve transferred $100 worth of cryptocurrency to the store. This happens fast, and there are almost no fees and no personal information divulged. Compare this with the slow debit or credit card counterpart, often with a third party involved. The benefits become more clear.

Other Cryptocurrencies

Bitcoin was the first digital currency, but not the last. A large number of cryptocurrencies now exist, and the list is expanding. Litecoin, for example, was launched back in 2011 on the same blockchain as Bitcoin and was meant to improve it. Ethereum was created in 2015 by Vitalik Buterin and is a blockchain-based platform that can be used for developing decentralized apps and smart contracts. The list of cryptocurrencies is actually quite large and, as I said earlier, growing. And the enabling technology, blockchain, is being applied to a rapidly growing number of industries creating both disruption and new opportunities.

In Conclusion

Bitcoin versus the technology category of cryptocurrency gives us a clear example of the difference between Soft Trends and Hard Trends. Cryptocurrencies will continue to evolve and integrate into our economy and everyday life, as will the enabling blockchain technology, making cryptocurrency a Hard Trend, while the future success of individual cryptocurrencies like Bitcoin is a Soft Trend: It may or may not have a bright future. When you’re able to distinguish between the Soft Trends that might happen and the Hard Trends that will happen, you will dramatically improve your ability to understand and manage risk as you become more anticipatory.

Learn how to accurately manage risk with my latest bestselling book The Anticipatory Organization.

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Best Practices Investing Marketing Negotiations Sales

The Five Kinds of Differentiation

Sales professionals know to find and leverage differentiation.  The problem: far too few know that not all differentiation is equal.  Yep, differentiation is differentiated

Remember, differentiation only becomes value once a customer understands it and connects to a customer-desired outcome. It only turns into differentiated value — that moves a buying decision – when that value is offered by only one seller…when it’s different.

A key point that many sales and marketing professionals often miss is that non-differentiating information drowns out your unique aspects. If you squirt a little valued differentiation within a geyser of “same as everyone else” features and benefits, you’re asking your customer to play “Where’s Waldo” with your value.  What do you expect them to do with that…buy?

Perhaps most importantly, my clients learn that a single product advantage often drives value in multiple value “landing points” throughout an organization. For example, several departments (not just the one with a budget to buy) care that your product lasts longer, and for different reasons. Unfortunately, most sellers work to leverage only the most conventional and expected of these “landing points” in their selling strategies, and never discuss or leverage the other value points.

A quote from my upcoming book:

If you differentiate using the same properties as your competitors, you aren’t differentiating as much as you think. 

If you differentiate only in ways your competitors have countered before, you aren’t doing much better…

Companies – and sales professionals – fight commoditization with differentiation.  They often lose sight of the fact that some differentiation is more effective with a customer than others.

Five Layers of Differentiation: 

The graphic above represents different ways that organizations differentiate their value. I refer to them as layers. Let’s go through them from left to right.  As you read these, give yourself a good hard look in the mirror.  Do you recognize and use all of these layers?  Purposefully?

Table Stakes Differentiation

Confirming the basic function of your product or service often a part of selling; for example, in RFI/Q/P responses.  There are personas (Buying Influences) who need to verify that your offer “checks the boxes”.  Such requirements are only “differentiation” insofar as they prevent you from being excluded; hence the term “table stakes”.  They have little role in a final buying decision, because they don’t differentiate you in the final decision.

To keep from having all other buying personas “geysered” in decision-clouding sameness, partition your sales approach whenever you can.  Enter sales conversations and demonstrations with table-stakes personas separately if possible – including offering to take those specific questions offline.  Best practice:  get these out of the way early, so that you can report to other personas that your offer meets basic requirements.  “Yada yada” these differentiators as much as you can, then move quickly to decision-moving value.

“3 Sellers, 3 companies, Same Product”: False Differentiation

This kind of differentiation is like being a hipster: you’re different…just like everyone else.

I often hear customers (and insightful sales leaders) complain that the main competitors all claim the same advantage.  A customer once told me  “I have three different reps’ business cards on my desk, but they all sell the exact same product”. Brochures and websites are often big culprits: “decades of experience” and being “an award-winning leader in this market”, aren’t differentiation when multiple companies can claim the same basic thing.

A leading provider of sales training to Realtors tells students to claim some version of “leading producer” or “most experienced” at the same point in every client’s script.  I once got 39 calls from 39 different people who were all the best realtor in Arizona…in less than three hours.  By all being some version of “the best”, none of them differentiated themselves.

Sellers lulled into using False Differentiation messages harm their chance in two ways:

  • False differentiation communicates a dangerous message to a prospect. Best case, it’s “I’m proving to you that I don’t offer any real advantages. Feel free to grind me down on price.  We both know that’s my only hope.”
  • At best, false differentiation crowds any true differentiation out, forcing the customer to pick your genuine value out of a pile of sameness. You’re making them play “Where’s Waldo” with your value. That’s making them work too hard to buy from you.

False differentiation actually harms your chances…it has a negative value in your selling process. Stop. It.

Fist fighting In a Phone Booth: Conventional Differentiation

The middle layer represents selling to obvious/conventional advantages.

  • The obvious advantage: customers easily absorb conventional pitches because they’re well-trained in them. You don’t have to work very hard to get even a newbie purchasing agent to comprehend them.
  • The pitfall: Your competitors are usually expert in countering conventional differentiation. When all competitors use a predictable approach, selling has the feel of fist fighting in a phone booth. Nobody can land a solid punch, and buyers start using price to decide.

You can win sales in this area, but seldom at satisfactory margins, because “value premiums” of the different offers are small enough to be vulnerable to competitor discounting.

It gets even worse.  In complex selling, sellers often try to find a person or people in the buying organization to provide leverage/insight into the group buying dynamic. These people are called guides, coaches, champions and the like. Question: If your differentiation is merely “in the phone booth”, who at the customer cares enough about small differences to become your guide that they’ll risk their internal credibility on you?  (cue the crickets sound effect here.) Without strong internal advocates, your tough sale gets even tougher.

That’s the trap of the middle layer:  easy to sell, hard to differentiate. Its yellow color denotes the hazards of selling in the phone booth.  This is your basic, least imaginative…yes, mediocre…value proposition. It is one level better than table stakes: the minimum acceptable requirements to play, but at least it fights through the delusion of false differentiation.  You can win deals in this layer, but seldom at impressive margins, or with high customer preference for your offer.

Trusted Advisor: Predictably Finding Unconventional Value

The fourth layer is where greatness starts. Elite selling organizations build the muscles to operate consistently in this differentiation layer.

In this layer, sellers leverage unconventional, yet predictably-found differentiation. Combining general business acumen with an understanding of their offer’s differentiation, sellers find more “landing points” for value. Value networks (an entire chapter in my upcoming book) help sellers predict ways in which their product or service’s unique attributes affect a customer’s business. Some landing points will be conventional and fit in the layer described above. Many, though, address previously undisclosed (at least by your competitors) value. This layer is all about uncovering fresh selling approaches that your sellers can use predictably, with many of your customers. Any tool which makes unconventional value discovery more systematic and predictable will help your sellers improve results.

Because uncovering unconventional value puts a seller’s general business acumen on display, they build credibility as a trusted advisor, someone who can provide insight and perspective into the customer’s broader business issues. This creates a cycle of credibility-building for both the seller and the selling organization.

Differentiators that produce compelling value for the customer invite somebody in the buying ecosystem to become a decision lever. Thus, you can build marketing and predictive sales strategies around them.

Elite Selling:  Personalized and Situation-Specific Value.  

Far right layer refers to differentiation and insight that wins opportunities, but rather than predictable, systematically replicated value propositions like in layer four, sellers uncover and leverage personalized, or situation-specific differentiation.  Often, these differentiators are personal rewards or wins.

An example: A commercial real estate loan was structured to save a business owner almost $80,000 in resolving a particular estate-planning issue. Obviously, this had nothing to do with his business, the property, the underwriting criteria or the structure of the loan, but had a huge personal impact on one (highly important) persona.

Individually, this category of differentiators aren’t anything to build a repeatable business on, but, sellers who know how to consistently uncover and recognize them are able to take advantage and use them to win opportunities. They are just as leverageable as layer four impacts when they are uncovered, but uncovering them takes slightly different skills. These highly individualized value drivers further cement the seller’s credibility as a true partner:  somebody with deep insight into the business as well as the individual interests of those involved in the decision dynamic…and who brings value to the client.

So…How Are You Differentiating?

A Seller’s job is to find value that competitors don’t, and sellers with a keen “nose for value” regularly go into upper layers to bolster the Full Value Picture (read the book), and achieve higher win-win prices with stronger customer preference.

The interplay between these differentiation layers and business acumen. That is sellers who rapidly assess high-probability value hunting spots can efficiently position themselves as trusted advisors and true partners.  Each selling company has its own hi/low/obvious layers, and you and your company need to figure those out (although I’m happy to help you work through it).

Share your thoughts below, and reach out if you would like to discuss if more detail.

To your success!

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

Not Thinking Right Can Lead to the Wrong Outcome

“You affect your thoughts by the order in which you think. Always think about the way you think.” -Greg Williams, The Master Negotiator & Body Language Expert

He was flying to Toronto from the U.S. He noticed a $250 difference in the airfare when flying into one airport versus another. He also noted that the two airports were only 13 miles apart. So, he thought, for a $250 savings, I’ll fly into the less expensive airport. That was the beginning of a bad decision! It was not the #right #outcome that he’d hoped for.

When you think about maximizing your outcomes, do you consider the order of your thoughts and how that influences your thinking? At what point do you consider you’ve received enough information before deciding to take action? Those are very important questions to ponder. Because, based on the order of your thoughts, you’ll adopt one action versus another. That, in turn, determines the degree of value you add or subtract to the outcome.

To improve your thought process, consider the following.

The Story:

In the situation with the airports, the ground transportation from the less expensive airport was $250 roundtrip, to get to the hotel and back to the airport. That negated the savings of flying into the less expensive airport. Plus, more time was required to get from the less expensive airport to the hotel. Yuck!

Mistakes in Thinking:

Our friend made the following misjudgments in his thinking:

  1. He figured, since the airports were only 13 miles apart, ground transportation wouldn’t be more than $60 roundtrip – he made that assessment based on travels he’d undertaken in the U.S. – he missed that guess by $190 – ouch!
    • A lesson to observe – everyplace is not like every other place. Unless you have factual data, don’t assume what was true in the past will be constant with the situation you’re considering.
  1. Our friend did not consider calling the hotel and asking for information about its proximity to airports and ground transportation.
    • Had he sought further information – our friend would have received feedback that led him to make a better decision. He would have recognized the value he thought was in the less expensive hotel was a mirage.
  1. Our friend was in a hurry to book the flight and move on to other activities.
    • Sometimes, you should let information simmer before acting on it. In that time, you may consider additional thoughts that alter the value of that information. Our friend’s hasty decision created more angst than he initially realized. Don’t let that happen to you.

Action item:

The lesson offered from this information yes, when making important decisions, you should take note of your thinking process. Pay special attention to outcomes that may leave you in a place that you’d rather not be in – or one that could have been better.

Before committing to an action, consider thoughts you might engage, the order of those thoughts, thoughts that might serve you better, and why you weren’t thinking about those thoughts before the outcome you arrived at. Doing so will lead to more fruitful and happier outcomes … and everything will be right with the world.

What does this have to do with negotiations?

If you’re unprepared for a negotiation situation, your assessment, and the way you respond may later become deemed as being irrational. Thinking about situations you might encounter ahead of time and preparing for them will temper possible negative outcomes – it will also give you more opportunities to consider how to think differently and/or better about the situation.

Therefore, in a negotiation, the order of your thoughts will have a drastic effect on the actions you take per the offers and counteroffers you make – that will determine the outcome of the negotiation. Thus, you should consider what’s motivating your thinking, why you’re motivated to think that way and where those thoughts may lead. By doing that, your thought process and how you order your thoughts will become your greatest assets.

Remember, you’re always negotiating!

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

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

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

#right #outcome #wrong #Negotiate #Process #Power #Powerful #Emotion #Business #Progress #SmallBusiness #Negotiation #NegotiatingWithABully #Power #Perception #emotionalcontrol #relationships #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions

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

Beware Silly Provocations – How to Hack Crisis Negotiations

“Never fall prey to a silly provocation. It can be the prelude to a contrived crisis.” -Greg Williams, The Master Negotiator & Body Language Expert

She wanted everyone to know that she was upset. Her language was foul, loud, and silly. She presented it as a provocation to induce hot drama. Its delivery occurred in a cool and calculated manner with the intent of inciting a crisis. One might think that occurred during a nasty negotiation – it happened in a small bank branch. And the occurrence was the pronouncements of a customer who at first demeaned a bank teller and then the branch manager.

In a negotiation, there are ways to hack situations such as what occurred with the foul silly-mouth customer. The following are a few of those hacks.

Environment:

The individual in the bank repeatedly complained aloud about the possibility of her ‘personal’ information being overheard by other customers – note that she meant her personal information – she claimed the teller asked for it to determine her identity. To the customer, that was an offense.

Hack: When dealing with people that appear to lack lucidity, assess if their demeanor is an act. Based on your assessment, be logical or illogical with them. Then, note the change in their demeanor. If they begin to use logic to strengthen their position, use logic in addressing them further. If they’re illogical, ask what they would do if they were in your position with the guidelines you’re working with. Either way, they’ll give you the solution to the problem. Thank them for it. And if it’s to your benefit, use it. If it’s not, excuse them or yourself from the surroundings.

Had the customer been in a different environment (e.g. church) and she’d not received the outcome sought, her demeanor more than likely would have been different. Thus, always consider the environment that one is in when they project certain conducts. And question if it would be the same if not in that setting.

Personal Assessment:

In a negotiation, always consider the type of individual you’re dealing with. Evaluate to what degree she’s educated, a bully embarrasses easily, or someone that never adopts shame for an action. That insight will give you a measure of understanding as to what type of personality you’re dealing with. That, in turn, will give you clues to how best to deal with that individual.

Educated – Everything being equal, people with higher levels of education can be dealt with at higher levels of reasoning.

Hack: Thus, if negotiating with someone of this ilk, try using logic to reason with them. They may not succumb to your behests. But you’ll have a greater chance of calming them before they become more irrational acting.

Bully – People with bully tendencies seek attention. They want to be perceived as someone that demands respect – in their mind they’re someone that others should not trifle with. Some negotiators will use bullying as a tactic – they’ll do so to determine how far they can push you.

Hack: If you sense someone’s attempting to use provocation as a bullying tool, stand your ground – act bravely! If you give in, they’ll push you harder and further.

Embarrassment – The person that embarrasses easily is on the opposite coin of the person that never adopts shame for her actions. The shameless person will attempt to project her antics to burrow into your psyche. By doing so, she assumes she’ll enhance the probability that you’ll acquiesce to her demands.

Hack 1: For the shameless person, don’t let her tactics effect you. Suggest aloud that you’re aware of her attempts – do so boldly! Then note to what degree she escalates or de-escalates the situation. If she escalates, she may be testing your resolve to determine its validity. What you do next will impact the rest of your interactions – choose wisely between upping your stance again or deflating it. If she de-escalates, she will have given you control. Make haste with it while softening your behavior as her reward.

Hack 2: For the person that embarrasses easily, temper her antics by raising the stakes – deal with her sternly but in degrees. She doesn’t want others judging her harshly. Thus, she won’t escalate a situation that causes her embarrassment – therein lies her vulnerability. Be cautious about appearing to take advantage of her. Anyone can become irrational when pushed too hard. That’ll make them less predictable, which could make a negotiation more difficult.

Provocations, silly or not, can occur in any negotiation. Controlled provocations are tools that good negotiators employ as a tactic. Having greater insight into hacking their efforts will prevent you from falling into their traps, while agilely avoiding hidden crises … 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 really like to know. Reach me at Greg@TheMasterNegotiator.com

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

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

How Long Will You Carry Your Burdens?

“Burdens will enslave you. Set yourself free by releasing them.” -Greg Williams, The Master Negotiator & Body Language Expert

The rod broke! It was repaired – clothes were placed back on it – it broke again, was repaired again and now it had fallen again. The rod gave way to the burden of the weight it carried.

In life, you too carry burdens. They come in the form of anxiety, stress, disappointment, perceived rejection, lack of perceived success, and what may appear to be mayhem. When encumbered by them, you’re delayed from swifter movement until you’re able to rid yourself of them. Between those points, those burdens weigh you down – they cause you not to be as efficient as you otherwise would be – they wreak havoc in your life, which spills over to those closest to you. They cause your life to be a hell on earth. Stop the madness! Control your burdens.

Extended Time:

Over an extended time, the rod was slowly bending to the will of the weight it bore. The slowly yielding process that sapped the strength of the rod occurred at such a leisurely pace, the naked eye couldn’t recognize what was happening. That’s what occurs to you when you have too much of a burden to carry. The weight of it slowly causes you to denigrate into a state of decline. If recognition occurred sooner, you could address the situation before it sapped you of your vitality.

Comfortability:

So why don’t you recognize when a burden is becoming too uncomfortable to endure before it becomes too uncomfortable to endure? The answer is, your psyche tells you that you can bear the discomfort – you can take the pain. It won’t last much longer – be tough! While that can serve as a great source of motivation in the right situation, it’s a double-edged sword. Thus, if not controlled, it can leave you in an uncontrollable state.

Caution:

When you’re besieged by heavy burdens, don’t let them weigh you down – you already know the consequences of that. When you’re beleaguered by thoughts of uncertainty that assail your mind, listen to those signals. They’re warning you that your load is too heavy – it’s akin to your engine light flashing red. At a minimum, recognize and acknowledge that you’re in an area that may be fraught with potential danger.

Action Time:

The rod broke because the heft upon it was too great a load to sustain. Like the rod, your life will also break if you don’t castoff burdens that are too great for you to the harbor.

If you sense too many obstacles are creating too many burdens for you to bear, shed them from your life. Your load will be lighter. You will be able to move more freely as you move towards greater goals that will improve your life. You will have freed yourself to be freer to achieve more and be more of what you were meant to be … and everything will be right with the world.

What does this have to do with negotiations?

Negotiators bring their burdens into the negotiation. Those burdens cause them to react in different ways depending on the gravity of them. Thus, their burdens impact the negotiation process.

Just like people move quicker away from something that’s too painful and more slower towards pleasure, so will they release a burden when it becomes too cumbersome to bear in a negotiation. What that suggests is, depending on the negotiator type that you’re negotiating with, you can use the weight of a burden or the release of it (pleasure) to motivate him to adopt one position versus another. The one you choose would be dependent on which served you best. And that would be dependent on the situation and the individual.

While burdens can be cumbersome, recognizing the value of using them as a tool during a negotiation can work to your benefit. Thus, if your burden is too heavy during a negotiation, attempt to transfer it to the other negotiator. You’ll get a reaction from him – note it. If he displays discomfort, extend an offer to relieve him of that burden. He’ll be grateful to you for having done so. You will have taken the burden that you gave him back. But you will have also gained a better position in the negotiation for doing so.

Remember, you’re always negotiating!

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

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

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

#burden #Negotiate #Process #Power #Powerful #Emotion #Business #Progress #SmallBusiness #Negotiation #NegotiatingWithABully #Power #Perception #emotionalcontrol #relationships #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions