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Using Mobile Apps to Transform Business Processes

As our need for just-in-time information flourishes, our reliance on traditional technological processes has decreased significantly. The shift from personal computers to mobile devices has picked up now more than ever. It is difficult to determine whether stationary computers will vanish into obscurity; however, there is no doubt that mobile devices are here to stay. Our reliance on these ingenious pieces of technology is overwhelming. Tremendous time and energy are saved through the use of a mobile device, as we can access information anywhere with ease.

The expansion of new types of tasks that are carried out using mobile devices has arrived. Smartphones can solve nearly every need of their users, from providing detailed directions anywhere around the globe to enabling access to the cloud at all times. We take these benefits for granted as the opportunities provided by our devices become more and more integrated into our everyday lives.

The information that we seek is not freely floating on our devices. Mobile applications are the key to the success of these devices, as they provide a gateway to our needs as consumers. Whether it’s the weather forecast, the highest-rated local coffee shop, a traffic report, or a stock market update, it’s an app that provides the answer.

At just over one hundred billion, the number of app downloads around the world to date is astonishing. And this number is expected to grow even further in the coming years.

Although mobile applications are commonplace today, most consumers think “personal use” when they think of apps. We all understand that there is an app for our favorite social media site or a card game app we can kill time with while waiting, but in what other ways can apps be leveraged, and who can benefit from them?

The answer is businesses.

I have seen businesses of nearly every size begin to see the potential behind creating an app for customers. Retailers can now move even further online to adjust their business model to the changing times. Transportation services have created apps that convenience users by helping them navigate routes and times, all while providing pricing. Some financial institutions allow their customers to scan and digitally deposit checks from their smartphones. These applications are beneficial; however, they are far from the only practical mobile business apps.

Mobile applications for business processes are now more prominent when it comes to how businesses run from day to day. Applications created specifically for the operational side of an organization have gained traction. The benefits of employing an app for use on a mobile device to transform a business process begin with the very reason we use apps in the first place: convenience.

For example, instead of handwriting notes on data or inventory while out of the office, an application that allows data to be entered on the spot by typing or talking removes an otherwise lengthy process. That saved time can then be better spent visiting clients and prospective customers, providing convenience in an otherwise tedious operation.

Another example of a mobile app for a business’s internal use is one that facilitates mobile sales. For deals that close quickly or unexpectedly, organizations can have contracts signed electronically, no matter where a meeting may have taken them. Presentations and data can be displayed at a moment’s notice if needed, as well. Data on previous deals made with a customer can be easily accessed while heading to meet with him or her.

Mobile apps can streamline processes, including supply chain, purchasing, distribution, or maintenance processes, so that a business can run as productively as possible. With information available on demand via mobile device from one accessible location, organizations tend to increase productivity and identify areas that need further improvement, which can reduce cost inefficiencies while increasing revenue.

Communication and collaboration are improved through mobile apps for business processes, as employees begin to more clearly understand roles and discuss the discrepancies highlighted by the application. Employees instantaneously become more productive, as time is saved through the assistance that mobile applications provide.

Business applications can be purchased and modified by organizations, or designed from scratch to fit the unique needs of a business. By creating a mobile app tailored to its business, an organization gains a competitive edge from having something unique in its industry. There are dozens of businesses that specialize in creating mobile apps to fit the unique needs of their customers.

The ways in which mobile applications can be used is seemingly endless, and right now, mobile apps for business processes represent a growing Hard Trend that every organization should address, as such apps can streamline internal processes. If productivity and effectiveness are your long-term goals, ask yourself how you can use mobility to improve every business process.

Innovation leads to disruption, not being disrupted. Learn more with my bestselling book The Anticipatory Organization. I have a special offer for you.

Pick up your copy today at www.TheAOBook.com

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

Negotiator – Do You Know How to be More Powerful?

“Power is perceptional. To control the perception of power, control how it’s perceived.” -Greg Williams, The Master Negotiator & Body Language Expert

“The patient fussed with her fur coat as she sauntered up to the doctor’s receptionist. “I have an appointment in 15 minutes with the doctor. Is she on time to see her special patients today?” The receptionist replied with a taunt to her tone, “The doctor’s patients are all special to her. She’ll see you soon.” With that, the receptionist left her station and engaged in other activities.

Are you aware that you can be perceived as more powerful by the way you present yourself? Do you know how to be more powerful as a negotiator? Continue reading and you’ll discover how to enhance your power in your negotiations.

Display of Empathy:

In the story above, the patient ‘sauntered’ into the doctor’s office, fussing with her fur coat and positioned herself as the doctor’s special patient. She projected an image of someone that was self-absorbed. Had she taken the time to observe the receptionist’s activities, commented about them and conveyed a pleasantry, the patient would have been displaying empathy. In doing so, she would have enhanced her power. Instead, she diluted it.

The display of empathy towards another’s plight is one way to bond with that individual. It also says subliminally that you’re not just concerned about yourself. You recognize the other person for what they’re dealing with.

Never discount the value or role that empathy plays in any interaction. It humanizes you while strengthening the emotional ties between people. And that enhances power.

Your Persona:

I’m the king. Bow down to me – Not! When you project an image of self-aggrandizement, some people will rebuff you. They’ll be appalled at the perception you have of yourself, which will cause them to become rigid to your request. While such a persona may work favorably with some people, over time, they too will become tired of it. Then, they will seek ways to avoid or demean you.

Your persona changes over the course of your life. Always attempt to align it with how you’d like to be perceived. During a negotiation, you can dilute a powerful position simply because your persona rubs someone the wrong way.

Demeanor When Rebuffed:

When you’re rebuffed, how do you feel? I’m sure your answer is dependent on who the person is, what the subject matter was, and where it occurred. Just as your answer depends on those variables, so it does with those you engage with.

To possess more power, limit its display to environments where it’s less likely challenged (e.g. boss vs. subordinate, etc.). In addition, if you know you’ll be in an unfriendly environment, have retorts ready that will subdue the subject of the rebuff. Just make sure you don’t escalate the situation and cause yourself distress.

Some of the reasons people are perceived as more or less powerful are mentioned above. There are more reasons but let those be a starting point. To enhance your negotiation efforts and outcomes, always be mindful of how you’re perceived. To the degree it fits the negotiation, align your perceived power based on the person you’re negotiating with. If it’s not perceived as being threatening or overbearing and that’s what you’re striving to achieve, you will have aligned the perception of your power successfully. That will make you appear to be more powerful … and everything will be right with the world.

Remember, you’re always negotiating!

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/

#power #powerful #Negotiate #Negotiations #bodylanguage #Negotiator #Business #Management #SmallBusiness #Money #Negotiating #combat #negotiatingwithabully #bully #bullies #bullying #PersonalDevelopment #HandlingObjections #HowToNegotiateBetter #CSuite #TheMasterNegotiator #psychology #NegotiationPsychology

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Human Resources Personal Development Sales

Know Your Product/Service Through the Customer’s Perspective

Part Three of a Five-Part Series.

You need solution acumen (product or service…applied to the customer situation) to craft win-win solutions.

Previously, I introduced perspective: knowledge or insight that expands a customer’s understanding of one or more business issues. When a seller provides perspective, they apply customer-valued(not just any) insights and expertise about unanticipated outcomes.

Then, I introduced a three-legged stool: the three foundational areas of expertise a seller should possess:

  1. Business Acumen...The focus of part two. Basically, this type of expertise equips you evaluate a prospective customer’s (or any company’s) operational efficiency and effectiveness, then identify value gaps.
  2. Solution Acumen.
  3. Customer Acumen…Where we will go in part four

Today’s topic:  Solution Acumen

First of all, solution acumen is waaaaay more than simple product knowledge. I’ve met sellers who are experts on their products/services, but have only a vague inkling why a customer might care.  Consequently, they have product knowledge without solution acumen.  Ultimately, here’s the source of the disconnect:

Customers don’t buy our products or services.  Instead, they buy results. That is, they buy outcomes our products or services deliver into their lives and businesses.

Importantly, solution acumen means that you can articulate a relationship between properties of your offer and customer-valued outcomes. Knowing your product or service is something.  Knowing all about how your product or service adds value to a customer is everything.

In addition, the price they’ll willingly pay for your solution depends on clarity, certainty, and desirability of those outcomes.

Ultimately, profitability happens when you provide more value for your customer than it costs you to produce. You can only price profitably in two ways: by accident, or by understanding – and pricing to – your customer’s outcomes.  To achieve the latter, you need solution acumen.

What Solution Acumen Typically Looks Like:

Generally, solution acumen comes in degrees.  As sellers go from basic product knowledge to full solution acumen, here are some of the identifying characteristics:

Basic solution knowledge includes:

  • Specs, performance…information a subject-focused persona wants to know.
  • Available product or service options. At a basic level, every seller should understand how their offer can be stripped down, augmented, and/or bundled.
  • Commercial policies.  Similarly, basic-level  knowledge includes ordering procedures, lead times, implementation basics, pricing, available discounts, and the like.
  • Competitors: An essential understanding includes basic competitor profiles, product descriptions, etc.

Intermediate-level offer knowledge might look like:

  • Typical configurations offered, even configurations commonly purchased for specific segments.If your company has developed a standard “small business package”, this mid-level knowledge has been institutionalized.
  • Commercial policies: Above basic level, understand discounting flexibility, how the pricing exception system really works (how the game is played in your company), have complete knowledge of any implementation process, how to expedite orders, etc.
  • Competitive differentiation. In this area, sellers can articulate competitive differences, and confirm/gauge strength of customer reactions to those differences.

Advanced knowledge, aka Solution Acumen is outcome-based, and is characterized like this:

  • Applications/use cases have been modeled, and all affected buying personas’ interests can be articulated.
  • Sellers can map competitive differentiation to customer outcomes. As an aside, my value networks are one way to do this.
  • Ability to brief implementation teams with persona-specific outcomes identified during deal pursuit. A key part of solution acumen is delivering on world-class outcomes after the sale.
  • Additionally, sellers move beyond descriptions of outcomes to quantifying them (measuring outcomes in monetary terms) with prospective customers. Also, instead of mastering the ins and outs of discounting, sellers master upward pricing flexibility: understanding attainable price premium and the required customization in order to fairly and legally price at a win-win price premium.

How Solution Acumen Shapes Perspective Selling

Solution acumen enables sellers to build connections between their offer and customer-valued outcomes. To see how, look at the Venn diagram below:

Customers have value gaps, shown on the left oval.  That is, they have unmet needs and aspirations. Suppliers differentiate themselves through unique capabilities. With solution acumen, sellers’ capabilities are expressed in customer terms — outcomes,– so that customers overlap the two ovals.  Any overlap represents where sellers can provide value. Only in this overlap is where sellers perspective welcomed.

Solution acumen increases as sellers more clearly translate the right-hand oval from “we provide ____” to “you achieve _____”. In fact, this is why solution acumen is so important.  As a result, sellers who clearly articulate a cause/effect relationship between offer/outcome become trusted business advisors.

With perspective, sellers can add to the overlap by:

  1. Proposing new possible outcomes,
  2. Framing the customer situation differently…in a way that promises a better outcome
  3. Framing the decision differently…again, to yield a valued outcome.

Remember, customers don’t care about all of your capabilities, even if they are unique to your offer.  Until they can clearly see one of your capabilities enabling a valued outcome, you risk showering them with irrelevance. For this reason, “perspective” outside of a customer’s desired outcomes isn’t really perspective at all.

Solution Acumen: One Key to Perspective Selling

Remember, because customers buy outcomes, perspective sellers need to articulate them.  Optionally, sellers can tell stories, give fresh insights into a customer’s situation, ask questions to get the customer to consider new issues for themselves…in any combination.

Solution acumen is not the ability to explain seller capabilities as features and benefits.  Instead, it’s the ability to translate their product or service into customer outcomes, then to extend single outcomes into follow-on outcomes.

In conclusion, solution acumen is what connects the seller’s offer to customers’ value gaps.  While some sellers can do this naturally, most need help.  To do this, I help sales organizations revamp their sales materials and product training materials to establish high-level solution acumen organization-wide.

Feel free to comment below or to share this article.  If you would like to talk about building the solution acumen of your organization, let me know.  I’d love to help you build that organizational capability.

To your success!

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

There’s No Shame in Ignorance

“There’s no shame in being ignorant. The shame comes from not dispelling it.” -Greg Williams, The Master Negotiator & Body language Expert

“Alexa, who is Greg Williams, The Master Negotiator and Body Language Expert? Sorry, I don’t know that” was Alexa’s reply.

Do you think Alexa felt shame about not knowing the answer to that question – it didn’t? Alexa is artificial intelligence. It’s programmed to acquire knowledge. You’re like that too. You acquire knowledge and that reduces your ignorance. There should be no shame associated with engaging in that process.

Ignorance is a lack of knowledge. Everyone is ignorant of many things. So, why do people become shamed by it? This article explores that. And it abates the uneasiness that partners with ignorance.

The Stigma of Ignorance:

Sometimes, there’s a self-degrading stigma attached to ignorance. It generates embarrassment within the person possessing it. Don’t allow that to happen to you. And don’t allow others to weaponize ignorance against you. Understand your uniqueness. Use that as a shield. Then, if you want to become more knowledgeable about a subject, do so because it’s your desire. Don’t let others control you through their ignorance of who you are.

Self-Esteem:

Your self-esteem may come into question when asked for wisdom on a topic you don’t know. Momentary fear may kick in, depending on the circumstances. That dilemma can cause you angst.

If you’re stupefied by a question, alter your self-perspective. There’s nothing wrong with you. You just don’t know. If the subject matter is important, you can acquire knowledge. Don’t let it mentally debilitate you.

Fear of Unknown:

Do you fear not knowing the answers to questions simply because you don’t know what’s being sought? There are times when you become mentally constipated because of what you believe others think of you. Note when that happens. Allay your emotions by thinking that no one knows everything – there are things the person posing questions don’t know. Plus, you give your mental power to others when you allow them to control your self-perception.

Perception of Peers:

You may become daunted by ignorance when considering what friends and associates think of you because you lack knowledge in a certain area. If they’re ‘real friends’, you should be able to express your ignorance without fear of the negative perception of rejection. If that’s a concern, you can always push-back by saying, please reduce my ignorance or reveal your own. No one can make you feel ignorant. Only you have that power. Since you control it, control its perception.

What does this have to do with negotiations?

When negotiating, ignorance can open the door to fear. And fear can throw your negotiation off kilter. By planning extensively for an upcoming negotiation, you can reduce fear – do so by reducing unknown aspects that might cause it to occur. That means, during the planning process, consider as many variables as possible. Plan for them and have strategies ready to deal with situations that might threaten your negotiation position. Being prepared will disperse fears of where you might unwantedly venture into the negotiation. You will also cast the demon of ignorance into the dungeons of anonymity … and everything will be right with the world.

Remember, you’re always negotiating! 

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/

#Fear #shame #ignorance #ignorant #Emotion #Business #Progress #SmallBusiness #Negotiation #NegotiatingWithABully #Power #Perception #emotionalcontrol #relationships #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions

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

Body Language Dread – How to Avoid Disaster When Negotiating

“To avoid disasters, recognize what they look like and avoid actions that lead to them.” -Greg Williams, The Master Negotiator & Body Language Expert

“… He touched his knee! I thought, what does that mean? I #dread trying to read body language when negotiating!” An associate recounted her thoughts to me when discussing how she was attempting to avoid disaster during a negotiation. She wanted to understand and decipher the meaning of an individual’s body language. I told her, the gesture could have meant anything, nothing, or everything. Then, I went on to explain that one isolated body language gesture does not necessarily lend insight into someone’s emotions or thoughts – you must look at a cluster of gestures for that. I then stated, there’s an exception – it occurs when you’re observing micro-expressions.

Observe the body language gestures below. Cross-reference them to gain greater insight into the meaning they have when they’re clustered. That will grant you the insight into someone’s thoughts and what might have caused them. Being able to accurately detect these signals will enhance your negotiation abilities.

Crossed Arms:

Crossed arms by themselves does not mean that someone is unapproachable or close-minded. It could mean that the person is cold. Also, women tend to cross their arms more than men because of their anatomy.

To gain more insight about why someone crossed their arms, note the stimuli that caused it. To test their demeanor, say or ask something that will cause them to uncross their arms (e.g. that’s a nice watch – may I see it). Then, notice if they go back into their crossed arms position. If they do, you can test again with another question. After that, if they still cross their arms, you’ll have more information to make a better assessment of their demeanor.

Hands:

Movement – When someone speaks, note the timing of their hand movement. If it’s rhythmically aligned with their speech, subliminally, more believability will be lent to their words.

Handshakes – A handshake can connote hidden meanings (e.g. hands vertical to each other, we’re equal – hand on top, I’m superior). Never fall prey to the hidden meanings of handshakes. Good negotiators may intentionally allow someone to have the ‘upper hand’ as a ploy to convey subservience.

Fist – When a discussion becomes heated, observe when someone’s hand forms a fist. The fist can denote deepening anger or commitment in what’s being discussed. If the stimuli that caused the fist to be displayed was unintended, seek to de-escalate the conversation.

Smiles:

A genuine smile is denoted by crow’s feet at the corner of the eyes and elevated cheeks. It’s important to recognize the distinction from non-genuine smiles. Knowing the difference can assist in uncovering someone’s alignment.

Micro-expressions:

There are seven micro-expressions that are generic to everyone on earth. Thus, the stimuli applied to someone in Asia will have the same effect applied to someone in Europe, or anywhere else in the world. The seven micro-expressions are:

  1. Fear (eyebrows raised, wide eyes, lips slightly stretched & parted, bottom lip protruding downward)
  2. Anger (eyebrows down and together, eyes glare, narrowing of the lips)
  3. Disgust (lifting of the upper lip, scrunching of the nose)
  4. Surprise (raised eyebrows, wide eyes, open mouth)
  5. Contempt (one side of the lip raised and pulled in on one side of the face)
  6. Sadness (upper eyelids drooping, eyes unfocused, lips slightly turned down)
  7. Happiness (crow’s feet wrinkle around eyes, cheeks elevated, eye orbit muscle movement)

Misinterpreting someone’s body language can lead to unanticipated consequences. To assure that doesn’t occur to you, observe the gestures above when they’re clustered.

While reading body language is not a perfect science, it can give clues into someone’s thought process. Knowing what to look for, and interpreting nonverbal signals accurately, can help you avoid disasters when you negotiate … and everything will be right with the world.

Remember, you’re always negotiating!

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/

#Dread #Avoid #disaster #Negotiate #Negotiations #bodylanguage #Negotiator #Business #Management #SmallBusiness #Money #Negotiating #combat #negotiatingwithabully #bully #bullies #bullying #PersonalDevelopment #HandlingObjections #HowToNegotiateBetter #CSuite #TheMasterNegotiator #psychology #NegotiationPsychology

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

What Scares You?

“Sometimes, your imagination scares you. To assess your fears, check your unchecked thoughts.” -Greg Williams, The Master Negotiator & Body Language Expert

“… The thought of that scared me. My focus was on what others would think if I failed.” An executive manager of a major international corporation spoke those words. I suggested that he shift his paradigm from thinking about failure, and what others would think, to one more positive.

Have you ever considered what scares you? While you might be frightened of some things, they may be the doorway that leads to greater opportunities. There are things that you should shy away from. Therefore, I’m not suggesting you go head-first into everything that scares you. Instead, reflect on the benefits that might reside within your fears.

Consider the following thoughts when assessing how, whether, and when you should embrace things that frightened you.

Identify what scares you:

Before you can address your fears, you must identify them. You should also identify why you’re lending legitimacy to them. In identifying them, note their origins. Do they stem for a hurt you experienced in the not too distant past, or do they stem from some further hidden source? The better you are at identifying the source of what scares you, the better you’ll be at assembling a plan to deal with those fears.

Assessment:

While assessing the source of your fears, assess if it’s something that you should rightfully be afraid of. Fear can serve as a warning. Thus, there are some things that you should avoid. In your assessment, label what’s real and what’s imagined when it comes to what scares you.

Imagination:

When we were kids, we dealt with things that frightened us by using imaginary forces. We even created imaginary friends. The point is, we used our mind to help us live in the reality we wanted for ourselves. We can still use our mind for that purpose. When confronting what scares you, imagine what will happen when you overcome your fear by addressing the thing that scares you. Imagine you’re receiving accolades for doing so. Now, how does that make you feel? It should make you feel good. After all, you’re only imagining it, which means, you’re in complete control … as you are always.

You can find motivation from the above thoughts and allow them to move you to action. Or, you can choose not to address your fears. But If you’re serious about achieving greater success in life, you must commit to challenging the things that jeopardize that success, that which scares you. After making that commitment, your life will instantly be on a straighter road to success … and everything will be right with the world.

What does this have to do with negotiations?

When negotiating, the fears of adopting one position versus another may cause you angst. But if you’ve considered the unexpected offers that might occur beforehand you will have planned on how to address them. That should allay your fear.

Nevertheless, if you’re caught by a scary situation, don’t show it through any body language and/or nonverbal signals (e.g. mouth agape, widened eyes). You don’t want the other negotiator to sense his momentary advantage. Instead, go into quandary body language display mode (e.g. hand on chin head cocked to one side, or chin resting in hand and on side of face). This action will give you time to think, while the other negotiator wonders what you’re thinking about. If you display a cunning smile while doing so, you may evoke fear in him.

Remember, you’re always negotiating!

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/

#Fear #scare #Emotion #Business #Progress #SmallBusiness #Negotiation #NegotiatingWithABully #Power #Perception #emotionalcontrol #relationships #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions

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Entrepreneurship Marketing Personal Development Sales

Perspective Without Business Acumen: Is That Even a Thing?

Part Two of a five Part Series.

Without business acumen, you can’t provide meaningful perspective.

In my last article, I discussed Perspective selling, and its cousins, insight & Challenger selling – and how powerful they are. First, I described perspective: knowledge or insight that expands a customer’s understanding of one or more business issues.  When a seller provides perspective, they apply customer-valued (not just any) insights and expertise .

To consistently provide perspective, sellers need to predict – then introduce – then validate – a customer-valued outcome.  Importantly, part one detailed three techniques for presenting perspective: three ways to stimulate a prospect to visualize an outcome.  In summary: asking value-oriented questions, re-framing a prospect’s viewpoint via credible instruction, and storytelling all engage parts of the brain that simple “selling by telling” does not.

Perspective Takes Three Kinds of Acumen.

Here’s the thing: those three techniques require a strong foundation in three areas. World-class sellers need three types of acumen in order to generate useful perspectives regularly.

The three underlying elements of acumen:

  1. Business Acumen
  2. Customer Acumen
  3. Solution Acumen

With apologies, let me bring the old “three legged stool” metaphor out of storage.  Thus, each type of acumen represents one of the three legs, and the stool needs all three legs to support world class performance.

Today’s topic:  Business Acumen

One of my most popular articles ever discussed the importance of business acumen.  It makes the point that you can’t know your customer’s business until you know business. Rather than repeating that article’s point, the  “why” of understanding business, I’d like this article to address the “what” and “how”.

First, there’s good news for non-“mathletes.  Understanding the numbers in a target company’s financial statements probably won’t get you as far as concentrating your time elsewhere (unless you’re in a field like finance or accounting). While financial acumen isn’t a waste of time, just remember:  financial statements describe financial health of a company, while a salesperson is usually more interested in operational health.  It’s more important to know how an operational change will affect the financial statements that it is to be able to analyze a financial statement for needed operational changes.

Business acumen is critical regardless of your role in your organization. This series of articles focuses on seller roles (any role that faces the customer). Nonetheless, if you’re a business leader trying to focus your company on delivering customer-perceived value, your whole organization should be business-savvy.

Perspective selling, becoming a trusted advisor, requires a seller to know their customer’s business well enough to give valued insights. Thus, many sales leaders realize that building business acumen for sellers and customer-facing roles boosts sales performance. Because of this, several Fortune 100 companies put their entire sales organizations through a mini-MBA program.

What Does Basic Business Acumen Cover?

If I had only one day to work with your people to build their business acumen I would organize a workshop covering a few key topics:

  • Treacy and Wiersema’s three value disciplines; how a company sees themselves differentiating in their market.
  • Understanding current trendsin a company’s market: your own and a customer’s.
  • Perspective sellers are attuned to their customers’competition:direct and indirect / substitutes.
  • Business professionals know how to find any company’s top management priorities. Can they leverage this knowledge into insightful interactions with a customer?
  • Businesspeople should know how to uncover major business risksfaced by any company, and articulate ways to address them.
  • While I don’t advocate strongly for mastering financial ratio analysis, I am big on understanding cost structure: fixed vs. variable costs, and break-even point. Know how to impact each of those items, and how you product /service impacts a customer’s cost structure.
  • Sales people should be able to break any company down into its component processes and activities…then identify key processes.
  • Your people need to be able to identify key process inputs/resourcesa company uses.
  • Business professionals should understand how key partners, alliances, and complementary offers build into complex ecosystems..and how these players add value to each other.
  • How does a company define their customers,and why?
  • Business people, especially sellers, should understand market channels:different kinds, how they work, their value, their challenges, and how customers use them to buy.
  • Business acumen helps identify different revenue streams, and understand what value (besides revenue and profit) each stream produces.
  • Professionals should be able to pick out a company’s value propositions. They should also distinguish propositions from value presumptions and statements, and know the dangers of the latter two.

How Business Acumen Shapes Perspective Selling

Business acumen enables sellers to look at a prospective customer’s business insightfully. Demonstrating a deep understanding of the prospective prospect’s business builds needed credibility. Without credibility, sellers risk being just another annoying know-it-all spewing a misdirected “credibility deck” in a prospect’s direction. Value messaging turns into old-fashioned “telling” if the perspective is not anchored in customer insight.

In summary, business acumen is needed to discover value that is hidden to average sellers.  It opens up a more detailed “map” of all the places where your differentiated value can impact a customer.  I often help clients identify completely new personas and roles within their target companies.  Having insight into how a customer’s company really works helps anticipate everywhere a seller’s differentiation generates value. A tool I’ve developed called “value networks” builds this world-class selling practice into a repeatable system for entire sales teams.

Fee free to comment below or to share this article.  If you would like to talk about building the business acumen of your organization, let me know.  I’d love to help you build that organizational capability.

To your success!

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Best Practices Entrepreneurship Investing Management Marketing Negotiations Sales Skills Women In Business

Negotiator – How To Be Smarter About Risk Assessment

“To abate risks better, deal with those that pose the greatest threat to your goals first.” -Greg Williams, The Master Negotiator & Body Language Expert

What do you consider when thinking of risk assessment? Do you think about the impact that your past will have on it? Do you consider the same about the person you’ll be negotiating against? There is a multitude of things to consider. Doing so before the negotiation will make you a smarter negotiator. Before your next negotiation, mull over the following insights when pondering how to be smarter about risk assessment.

Gains versus Losses:

Sometimes, people become caught up in the moment. They forget to weigh their potential gains against their potential losses. Losing track of such mindfulness can leave you wondering why you engaged in such folly, once you’ve returned to a clear state of mind.

When assessing risk, know what you’re assessing as it relates to your larger goal. Don’t place yourself in a position where you make a tradeoff or offer, get it, and then discover that there’s an unintended cost for the acquisition. If a request is too costly, it may behoove you not to enter the bidding. A risk matrix can assist in that avoidance.

Risk Matrix:

You can use a risk matrix chart to assess the probability of an outcome in a negotiation. That will help you uncover any hidden risks that you may not have considered. Based on what you know of the other negotiator, you can assess the probability of how he’ll act/react to certain offers and counteroffers. Thus, you might have your offers and potential counteroffers plotted on one scale and markers denoting the probability that he’ll respond in a certain way on the other (e.g. strong possibility, likely, maybe, low probability, not likely). Then, weight each category (e.g. 85-100%, 65-85%, 45-65%, 25-45%, 0-25%, respectively). Of course, your risk matrix will only be valid to the degree your assessment of the other negotiator is accurate. If it’s not you’ll have garbage in, garbage out.

Ploys:

  • Lead/Led – Ask the other negotiator for his thoughts and inputs on matters that you’re unsure about his thoughts. By obtaining his thoughts you’ll gain insight into how he’s thinking. The bonus of that will be of him having the appearance that he’s leading the negotiation. That will also assist your efforts in decreasing the risk that the negotiation might go into unseen and unsuspected areas.

 

  • Offers – Don’t make offers that would demean or insight the other negotiator. You don’t have to tread so gently that he begins to press you on issues. instead, find the balance between the point of leading and following and know when to commit to either.

 

  • Anger – When thinking of the strategies you’ll employ in the negotiation be leery of using anger. There are potential hidden risks involved when you anger someone. They can become unpredictable, which means not only would you demean the validity of your risk matrix, you might do irrevocable harm to the negotiation.

 

Suffice it to say, the fewer variables you can account for when negotiating the stronger your negotiation position will be. That will lead you to be smarter about risk assessment … and everything will be right with the world.

Remember, you’re always negotiating!

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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Categories
Best Practices Personal Development Sales

The Importance of Perspective in Sales

Part One of a Five Part Series.

You may have heard the similar terms perspective selling, insight selling, challenger selling etc. and wondered what the big deal is. Are these passing fad or enduring principle restated? Good news: while the promotional buzz is relatively recent, they all trace back to some solid behavioral and decision science.

The bad news: insight/perspective selling is not simple “selling by telling”. Unsurprisingly, the magic pitch (aka the value message that turns prospects into pliant buyers) is dead. It’s been dead in consumer sales for a long time. And having been consumers, business buyers have lost their tolerance for pitches, even magic ones.

Each of the terms represent a similar idea. I mostly use us the word perspective, but I’ll sprinkle synonyms in.

What is it?

The Miller Heiman Group has one of the better definitions I’ve seen:

Perspective is knowledge or insight that expands a customer’s understanding of one or more business issues. When a seller provides perspective, they apply insights and expertise which increase customer perceived value.

What’s so great about it?

The whole point of selling with perspective breaking into the circle of trust.

According to CSO Insights 2018 Buyer Preference Study, business buyers view vendor salespeople as one of their least preferred sources of information. Salespeople ranked ninth out of ten information sources mentioned by buyers, ahead of only professional trade associations. Ouch.

The news gets worse. Because buyers don’t think sellers add value, buyers don’t engage sellers until they’ve identified their own needs and narrowed down to a self-prescribed solution. Then, when presented with a predefined solution, vendors (predictably) find it hard to differentiate themselves or to exceed expectations. Thus, sellers reinforce their initial impression of buyers, and a cycle is formed.

In short, once the customer has pegged you as an unremarkable seller, you are stuck in a no-value feedback loop that’s difficult to escape. Your goal should be never to enter this cycle.

Happily, buyers are willing promote sellers to “trusted advisor” status, especially when decisions are risky, complex, or unfamiliar. Sellers must simply add value to the buyer’s decision process…from the first contact, and every contact. That means providing valuable insights: selling with perspective.

What Perspective Does For a Customer…

Essentially, a trusted advisor produces new value in a customer’s buying process. This can include introducing new decision criteria, new ways of looking at a situation, or introducing new outcomes. Generally, new criteria and points of view are impactful when they enable or assure outcomes.

There is strong neuroscience and psychology research behind perspective selling. Since customers buy outcomes (not products or services), perspective is the art of opening a prospect’s eyes to new possible outcomes. Perspective triggers the mental process of visualizing outcomes. Visualizations can be spurred in the customer’s mind when sellers:

  1. Ask well-crafted questions which guide the prospect to see their situation in a new way and ultimately to identify (then value) new outcomes.
  2. Tell them something they don’t know – the specific technique proposed by The Challenger Sale. Half of Challenger sellers are low performers because they miss a key factor. The challenge statement only spurs the visualization process when the seller has established credibility. Some use “sales-ready value statements”, “value messaging”, and the like to describe such “perspective telling”.
  3. Tell stories which engage the buyer’s imagination to visualize an outcome for themselves. The human brain responds powerfully to story-telling; stories engage a visualization process, and telling stories about applicable outcomes is a great way to provide perspective. Recently, storytelling is achieving big buzz in the sales world. It’s a great neuroscience-based addition to a seller’s perspective selling arsenal.

Sellers should always combine the last two with the first. Telling a story or making a value claim may “expand a customer’s understanding”, but only questions confirm whether/how firmly any new perspective took hold.

Perspective selling harnesses the most compelling buying behavior: getting prospects to see desirable outcomes for themselves. Getting the most out of perspective selling means selling to full value, which I’ll discuss in part five of this series.

What perspective takes.

In order to consistently provide perspective, sellers need to predict outcomes likely to be customer-valued. Then, they engage in conversation which gets customers to visualize an outcome. Producing valued perspectives requires three types of acumen:

  1. Business Acumen. In order to expose new outcomes to a prospect, you need general business knowledge to predict outcomes. With business acumen, a seller can create new value. In my next article, I’ll cover this in more depth.
  2. Customer understanding. Sellers not only need to have insight into the customer’s business, they need to master the decision dynamic at a customer. Part three of this series will expand on this.
  3. Solution Expertise. Finally, sellers need to understand not just their product or services features and benefits. Perspective requires that sellers translate features and benefits to outcomes. In part four of this series, I’ll cover solution expertise in more detail.

It’s simple to learn, a lifetime to master.

To really master insight and perspective, you need to understand the building blocks. When you look at perspective selling within the framework of providing customer-perceived value, your ability to provide deeply insightful perspectives will increase.

Comment below, or contact me directly to share your perspectives on this article.

To your success!

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

Do You Know What Really Makes You Happy?

“Happiness is your state of mind that only exists when you think it does.” -Greg Williams, The Master Negotiator & Body Language Expert

One day you’re up. The next day you’re down, and so the yo-yo goes. Maybe the ups and downs are not daily, but it occurs to a degree in everyone’s life. Do you know the frequency of your ups and downs? Do you know what really makes you happy?

There’s a reason you should take account of your happiness quotient. It’s the doorway to accomplishing greater achievements. It’s also the doorway that leads to the perception of you leading a better life.

Consider the following insights to note your degree of happiness, what sparks it, and what might cause it to decline.

Self-Psychology:

Know the triggers that lead to happiness and unhappiness. Those two boundaries will be your guardrails that trip your inner silent alarm. Even if you encounter an abundance of happiness, sensitize yourself to how it occurred. You can use those stimuli to acquire greater happiness. That will serve as a motivator to spur you to higher heights. The point is, know what motivates you to stride forward faster and you’ll be more aware of how to do so.

Happiness:

Everyone has a slightly different definition of happiness. To understand the impact that happiness has on you, define what it means to you. Not doing so subjects you to the whims of life’s occurrences. You’ll relinquish control to those dictates and they, not you, will determine when you’re happy and when you’re not.

Unhappiness:

In my writings, presentations, and trainings, I’ve suggested to people worldwide that they note what makes them unhappy. Some have responded by saying, “why would I focus on negativity – that’ll only serve to make me unhappier”. Think about that for a moment. If you didn’t know what a hot stove felt like, you’d be more likely to touch it and get burned. How many times would you want that to occur? The point is, yin and yang are the boundaries of happiness. And unhappiness is the yin in that equation. The more you’re aware of what makes you unhappy, the more clarity you’ll have about how to avoid it.

Friends:

There are some things that we’re more passionate about than others; longtime friends can fall into that category. While some longtime friends can provide a form of happiness, you should be aware of the impact they have on other aspects of your life. In some cases, their views and opinions may no longer support the goals you’re seeking to achieve. If that’s the case, know the value that they add to your happiness quotient. You don’t have to discard them, just appreciate them for the value they add to your life from a different perspective.

What does this have to do with negotiations?

The degree of happiness you experience when negotiating will impact your degree of engagement. Happiness is an unseen ally that’ll allow you to think more clearly from which greater ideas will flow. It will also serve as the tool that unlocks your ability to make better offers and counteroffers.

The more you’re aware of what ignites your degrees of happiness when you’re negotiating and how to temper unhappiness, the better you’ll be when negotiating … and everything will be right with the world.

Remember, you’re always negotiating! 

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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