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Entrepreneurship Human Resources Investing Management Marketing Negotiations Sales Skills Women In Business

“This Is How To Use A Poison Pill In A Negotiation” – Negotiation Insight

“A poison pill can add life to a negotiation. Make sure the value-added is yours.” -Greg Williams, The Master Negotiator & Body Language Expert (click to Tweet)   Click here to get the book!

 

“This Is How To Use A Poison Pill In A Negotiation”

 

People don’t realize they’re always negotiating.

When a negotiator expects an occurrence in a negotiation that doesn’t happen, it’s akin to missing something expected. And that’s where the value of a poison pill can enhance one’s negotiation efforts. By inference, a poison pill can cast the image of death. But that doesn’t have to be the case. So, precisely what is a poison pill in a negotiation. And how might a negotiator use it to enhance his negotiation position?

Click here to discover how you can use a poison pill in your negotiations!

Remember, you’re always negotiating!

 

Listen to Greg’s podcast at https://c-suitenetwork.com/radio/shows/greg-williams-the-master-negotiator-and-body-language-expert-podcast/

 

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

 

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

 

 

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

 

 

 

 

 

 

Categories
Investing Personal Development Sales

Business learnings from The Art of War by Sun Tzu (5th century BC)

This is what Wikipedia says about The Art of War:

The Art of War is an ancient Chinese military treatise dating from the Late Spring and Autumn Period (roughly 5th century BC). The work, which is attributed to the ancient Chinese military strategist, Sun Tzu, is composed of 13 chapters. Each one is devoted to an aspect of warfare and how it applies to military strategy and tactics.

Here is a link to the Wikipedia article: https://en.wikipedia.org/wiki/The_Art_of_War

It is one of those evergreen books that inspired Chinese military strategists and even philosophers ever since it was written as well as Western military strategist since it was translated, first into French at the end of the 18th century and into English in the early 20th century. Much of the book’s teaching can easily be applied to business because business and war, from a pure strategy point of view, are not all that different. In the end, war is about control of land and population; business is about attempting to control your market. In war, there is an opponent; in business, there is competition. Those who crush the opponent or competition wins. Simple? Not really.

Nevertheless, The Art of War is a short book, it takes an hour or so to read. An hour I would greatly encourage everybody to spend while thinking about how the teachings contained within the book apply to your business. Now, some of the chapters have a very different style than other chapters, so it is pretty clear that there is more than one author involved here, and some chapters lean more toward a commons sense angle than other chapters. But that really does not matter; it is still very worthwhile to read and engage with this book from a business perspective.

As I reread the book, I found this paragraph, number 18 in Chapter 3 of the book particularly profound:

“Hence the saying: ‘If you know yourself and know the enemy, you need not fear the result of a hundred battles. If you know yourself, but not the enemy, for every victory gained, you will also suffer a defeat. If you know neither the enemy nor yourself, you will succumb in every battle.'”  

Let’s decompose this paragraph and find out how it applies to business:

If you know yourself and know the enemy, you need not fear the result of a hundred battles.

This sentence applies to the companies who are the market leaders in their market. The companies who know how to beat the competition and do it well; know better than the competition how potential buyers make their purchase decisions, how buyers perceive the product or service choices they have, how buyers perceive the various brands or competitors in the market and know the actual monetized value of their product or service. But they also know themselves; know their true strengths and weaknesses, they don’t believe their own press releases and they internalize the truth about their market, and they train their staff accordingly; product development and those who define services truly know what drives the sales and revenue, and sales and marketing know the profile of the customer that will generate the highest sales and revenue. They don’t believe in the corporate gut feeling generated from only listening to their customers but proactively research perceptions, preferences, and the ever-important monetized value that both customers and potential customers (the latter is where future growth will come from) associate with the company’s and competition’s products or services.

They know all of this better than the competition, they act on the knowledge, and because of that, they are in command of the market.

If you know yourself, but not the enemy, for every victory gained, you will also suffer a defeat.

Unfortunately, most companies fall into this category. They think they know themselves better (and to some extent, most companies do, just not as well as the market leaders), but they often miss important insights about their customer or market. They collect data from their customers by talking with them or communicating with them through other channels. There are a couple of issues with this type of approach. First, every company goes out to the market with a particular position and marketing message. Some portion of the market will accept that message, and a portion of those will become customers. What companies don’t get from communicating only with customers is what would make non-customers to become customers; maybe different features or different prioritization of features will drive more non-buyers to become buyers, perhaps if the company’s sales and marketing effort focused on a different market vertical, the conversion of non-buyers would increase, maybe if other marketing and sales messages were used, sales would increase, perhaps a different pricing structure would make the company’s product or services more appealing to a larger portion of the market and thus lead to increased sales and revenue?

Or to simply put it – communicating only with customers is like talking in an echo chamber! You don’t learn much from one of those, do you?

Surprisingly, this is what most companies do. When I speak to potential clients of my firm, most of them assume our work will be carried out for their customers only, and it always takes some effort to explain we work with a market, not only customers to our clients. Furthermore, when we show a client a gap analysis between “the market” and “what the client believes about the market,” there are always surprises contained within that data collected. Gaps reduce a company’s competitiveness and, many times, prevent the company from becoming the market leader.

And finally, the third sentence of the paragraph:

If you know neither the enemy nor yourself, you will succumb in every battle.

Pretty obvious what that means; if your company is a startup, the company will die when investors’ funds run out. If the company is well established, it means that a shift in the market, a shift in buying behavior, or the competitive landscape, or maybe when a new piece of technology will become available, any of these will kill the company outright.

So, in light of the learnings that you can glean from The Art of War, the choice is pretty straightforward. Gaining a better understanding of the market and ensuring that the entire company knows and acts on that real market understanding and not some corporate gut feeling is the key to market leadership! So are you ready to take up the challenge?

Per Sjöfors
Founder
Sjöfors & Partners
www.sjofors.com

 

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

“This Is How To Ask The Best Questions In A Negotiation” – Negotiation Insight

“The right question, asked at the right time, can be the gateway to greater knowledge. But the wrong question, no matter when asked, will never garner the insight you otherwise may have received. Ask better questions.” -Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)  Click here to get the book!

 

“This Is How To Ask The Best Questions In A Negotiation“

People don’t realize; they’re always negotiating.

“But that’s not what you asked me.” “Yeah – but you knew what I meant, didn’t you?” That exchange occurs between people daily. One person makes a statement or asks a question, and the other person answers based on what he inferred or what he believed the intent was. Being mentally aware of this fact is the first step to asking the best questions, whether those questions occur in your negotiation or other realms of your life. Continue, and you’ll discover additional ways to ask better questions.

Click here to gain insight into asking better questions!

 

Remember, you’re always negotiating!

 

Listen to Greg’s podcast at https://c-suitenetwork.com/radio/shows/greg-williams-the-master-negotiator-and-body-language-expert-podcast/

 

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

 

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

 

 

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

 

 

Categories
Economics Entrepreneurship Marketing Personal Development

Why a low price and a discounted high price is not the same

If you think the buyer perceives your price equally whether it is just a low price or a higher price with a discount – then think again. 

When we are considering buying a product or a service, our subconscious mind creates a whole slew of associations. We decide if we believe the features and functions of the product or service will deliver the value we expect to receive. The brand and everything we associate with the brand influences the value and benefit we expect to receive from the product or service. So, does the lack of a brand, how the product or service is presented to us affect how good we think it will be once we purchase it? If the product or service is sold by a salesperson, how that person presents themselves and the product or service will have great influence over how we will associate value and benefit to the product or service. Some of these associations will add to the value we expect; some will detract from them. Some brands will add value; others will be totally neutral; some will detract from the value. Also, some features will add varying degrees of value; others will be neutral, some will detract from the value. 

This cocktail of associations can be summarized as “perception of value,” and it happens in the blink of an eye, while the potential customer is going through the decision-making process as to whether they will purchase the product or service, or not. This also means that for most of our purchases, we do not make a true valuation of the various products or services available but we use our “perception of value” or gut feelings to aid us in making a decision. In behavioral economics, the term for this process is known as heuristics. 

As soon as we see the price of the product or service, we make an immediate association between our “perception of value” and the price. It is an association that is emotional, but where the outcomes are pretty simple to come by. There are only three possible outcomes:

  • The price is above my “perception of value,” and therefore I will not buy the product or service.
  • The price is generally in line with my “perception of value,” and therefore I will buy the product or service. This is valid for a range of prices.
  • The price is below my “perception of value” and therefore, what I initially thought was an adequate product or service must have some perceived flaw I did not initially discover, and hence, I will not buy the product or service.

It is also important to know that different people will have differing “perceptions of value,” and the very same people will have a different perception of value across various times and circumstances. But for now, that is a topic for another article. 

So, if a too low price is set, then what can occur is an expectation with the buyer that the product or service may be inferior (even though that cannot be proven at the time of them making a purchasing decision). Why does a price plus a discount work differently? That is because the buyer’s “perception of value”  is then tied to the original price before the discount was put in place, and the discount just means the buyer now perceives the product or service as a bargain, it is a better deal for them.

So, to sum this up in a more formulaic manner:

  • Price compared with “perceptions of value” = a buy or not buy decision
  • Price compared with “perceptions of value” + discount = a bargain

However, it needs to be noted that the discount cannot be too large. If it is, a significant discount in itself will make the potential buyer think twice about purchasing the product or service. It might have the opposite effect to what the seller initially intended – a higher sales volume. Just as with a too low price, to begin with, an excessively large discount will generate doubt in the mind of the prospective buyer. They will think, “the vendor must be desperate to sell this, probably because nobody wants to buy it because it is not a very good quality product or service,” or ”the vendor has figured out there is something wrong with the product or service so they must offer a deep discount to sell any of them at all.” 

In conclusion, most buyers are usually quite quick to decide the value they perceive with a product or service they are thinking of purchasing. They then compare that value with the price and decide to buy or not buy the product or service. Discounts, if reasonable and not too large, will drive higher sales because the buyer’s “perception of value” is anchored to the original higher price, not the discounted lower price. Thus, a discounted high price is not the same as a lower price – even if the dollar value is the same!

Per Sjöfors
Founder
Sjöfors & Partners
www.sjofors.com

Categories
Best Practices Investing Marketing Personal Development

NPS surveys are a failure!

Net Promoter Score (NPS) surveys are a staple of customer satisfaction surveys. We have all had exposure to them. When we buy something or interact with a company, consequently, we get a message from the company asking us to rate how likely we would recommend the company itself, or the product or service we recently bought for a friend or colleague. We fill in our answer on a 10-point scale. A score of 10 means that it is incredibly likely that we will recommend the product or service, and a lowly 1 means that it is extremely unlikely any recommendation will be forthcoming.

Those who select a 9 or 10 are called “Promoters” as they are likely to talk about the product, service, or company in favorable terms. Those who choose a 7 or 8 are called “Passives,” and those who select a 6 or less are called “Detractors.” Promoters are loyal to the company, Detractors are not, and Passives can go either way.

Fred Reichheld of Bain & Company invented NPS in 2003, and implementation has soared rapidly since its first introduction. NPS’s output is a single number from -100 to +100, and the calculation to get to the NPS score is relatively straightforward: the percent of Promoters minus the percent of Detractors. The aim is to have as high a number as possible. So, if the percent of the Promoters and Detractors are the same, the NPS becomes 0. An NPS score below 0 means a general dissatisfaction, between 0 to 30 means the company is doing average, and above 30 means customers, in general, are satisfied with the company’s product or service.

NPS’s goal is to provide an easy to understand snapshot of how satisfied, or not, a company’s customers are. Unfortunately, that is a promise that NPS does not deliver. In fact, the whole premise of NPS is flawed. While the question: “Would you recommend?” means that a buyer can sum up the complex mix of feelings and assessments related to a purchase or interaction with a company, into a single number is brilliant, as that is how actual decision-making works. Still, the rest of NPS simply does not work. And here is why! Take a look at the following:

1. Survey respondents’ bias.

In a statistically significant consumer survey conducted by my company Atenga Inc., during September 2020, we found that the majority (58 percent) of the population will only fill in an NPS survey if they are already fans of a company or a product or service, while a smaller portion (32 percent) say they may or may not fill in an NPS survey. (See charts at the end of this document).

Only a very small percent of those who are directly dissatisfied with a product or service (6 percent) will fill in the survey. This means that the reported NPS is not even a close approximation of the satisfaction profile of a company’s customers; the resulting NPS score will be much more positive than the actual customer satisfaction really is. This by itself will render NPS virtually useless for almost all purposes.

2. The dangerous Passives

While Detractors are unlikely to buy from your company again, Passives may. And the way that NPS is calculated, Passives are totally ignored; they are not part of the calculation. This is a big problem because if a company has a large number of Passives, NPS may indicate they are doing well. Yet, they will have few returning customers or a significant “churn” rate if what the company sells is a subscription. And this leads to the next issues with NPS.

3. Actions resulting from the NPS

The next issue is, what should a company “do” as a result of its NPS score? Well, if the score is high, the CEO of the company can “waltz” into the boardroom and joyfully proclaim to the board of directors: “We are doing really well.” Good for him or her, but that’s about all that it will do.

If the NPS is not so good, it does not tell the company why the score is not good. It does not tell the company what to do to improve the score. It does not say if customers are dissatisfied with the experience of dealing with the company and what part of that experience needs to improve. Also, it does not say which aspects of the company’s product or service might need to be improved. Again, making NPS pretty useless.

Furthermore, as a company’s NPS score typically is separated from its competitors’ NPS score it is seen in a vacuum. But NPS cannot be considered by itself, simply because no marketplace is a vacuum with only one choice for the buyers. There are always alternatives, and a company that does not know how it compares in satisfaction among those who make choices other than buying from the company are at a great disadvantage to those who are in the “know.”

So while the very basis for NPS is solid, that of a customer who sums up the complex mix of emotions, preferences, and perception that leads up to a single decision, buy or not to buy, the implementation of NPS is not. What then is the remedy?

  • NPS surveys should not be conducted by the company itself but by an independent agency to greatly reduce survey respondents’ bias.
  • The survey should include NPS for both the company and its key competitors.
  • The survey should also include details of the company’s product and/or services and the interaction with the company.
  • All the data then captured in the NPS survey will then need to be segmented. For the company itself and each of the competitors covered in the study. 
    • For NPS to “work” it becomes crucial to know what drives those who are Detractors to become Detractors. To understand exactly what aspects of the product, service, or interaction that makes them unhappy. Only when companies are aware of what drives customers to become Detractors can they take actions to remedy the situation and to minimize the number of Detractors.  
    • Furthermore, it is important to understand precisely what makes Passives to become Passives. Understand what they are missing with a company’s product or service. Understand why they are not enthusiastic about the interaction with the company. In short, why they are lukewarm. And then, of course, take corrective action. Alter products or service, or the way customers interact with the company, to make Passives into Promoters.  
    • It is also essential to know why Promoters are Promoters so that the company does not remove a feature, function, or benefit that Promoters particularly appreciate. Because only with this knowledge can a company view itself from the buyer’s perspective and get to know what aspects of its product or services or customer interactions or activities will affect customer satisfaction to reduce the number of Detractors and Passives.

So now, what will you do? Continue regular NPS surveys or take these to a whole new level of practicality and value for your company? I know what I would do.

Per Sjöfors
Founder
Sjöfors & Partners
www.sjofors.com

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

“This Is How To Spot And Stop Manipulation In Negotiations” – Negotiation Tip of the Week

“If you’re not aware when manipulation occurs, it may be occurring more than you’re aware.” -Greg Williams, The Master Negotiator & Body Language Expert  (Click to Tweet)   Click here to get the book!

“This Is How To Spot And Stop Manipulation In Negotiations”

People don’t realize; they’re always negotiating.

Negotiators manipulate one another during negotiations. Most people don’t want others to control them through manipulation. Once manipulation is recognized, the offended party may rail against those that assail them. And yet, others will cling to those that weave manipulative tactics against them and not accept the realization that the manipulator is causing them serious harm. Where do you fall on that paradigm?

The feeling of being manipulated is dependent on the perception of each individual. That’s why some negotiators may get away with blatant manipulation, while another may pay a hefty price for his perceived transgressions. Thus, the perception of manipulation is not a ‘one size fits all.’ The following will explain how to tell when someone is manipulating you and how to stop it.

 

Click here and discover how you can prevent others from manipulating you!

 

Remember, you’re always negotiating!

 

Listen to Greg’s podcast at https://c-suitenetwork.com/radio/shows/greg-williams-the-master-negotiator-and-body-language-expert-podcast/

 

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

 

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

 

 

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

“This Is How To Trigger Someone In A Negotiation” – Negotiation Tip of the Week

“When you treat someone in an exemplary manner, anything less than that becomes ordinary to them. Beware of the expectation triggers you setoff in others.” -Greg Williams, The Master Negotiator & Body Language Expert (Click to Tweet)           Click here to get the book!  

“This Is How To Trigger Someone In A Negotiation”

I heard music that brought back memories from many years ago. As I listened, a broad smile captured my face. The music was the trigger of that occurrence.

When you’re in a negotiation, are you aware of the triggers that motivate your actions, your thoughts? Do you consider how the other negotiator is driven by what’s triggering him? You should be astutely aware of what’s occurring below your mental state of consciousness in both cases. Because therein lies, what will dictate the degree of success you’ll have in the negotiation. Observe the following insights about triggers, how they work, and how you can use them to motivate someone to take action in your negotiation.

Click here to continue!

 

Remember, you’re always negotiating!

 

Listen to Greg’s podcast at https://c-suitenetwork.com/radio/shows/greg-williams-the-master-negotiator-and-body-language-expert-podcast/

 

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

 

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

 

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

 

 

Categories
Best Practices Culture Economics Growth Human Resources Management Skills

Staying Positive During A Challenging and Exhausting Job Search

The current job market is experiencing a Revolution!  Millions of people globally have lost their jobs, sources of income, or been furloughed as a result of the Covid-19 pandemic.  While this widespread, unprecedented crisis is happening through no fault of our own, that may be of little comfort when you’re stressed about paying bills and putting food on the table.

 

Losing your employment is one of life’s most challenging and stressful experiences a person will endure.  Aside from the obvious financial challenges it can cause, the stress of losing a job can also take a toll on your mood, the people in your life, and overall mental and emotional health.

 

Making a living isn’t all our jobs do for us.  They influence how we view ourselves and how others see us. Our jobs provide a social outlet and give structure, meaning, and purpose to our lives. Suddenly being out of work can allow one to feel depressed.  You might be asking yourself, “Who am I now?”  You might even be going through a grief process and feel very confused about what the future will hold.

 

As a recruiter, sitting on my side of the desk and seeing what has and has not been working for people in this New Work World, I want to share what I have been experiencing with my candidates.  I’m more or less on the “front line” of this job situation and in my 30 years of doing this job, I’ve never seen the job market like this.  I’ve been through five significant downturns in the market but this one is very different and what may have worked in the past isn’t working now.  Every situation is different but I see some underlying themes that are getting some applicants the good job offers.

 

More than ever now, our mindsets are of crucial importance to stay upbeat and positive.  There are ways to help you better cope with what you may be dealing with at this time.  This is not the time to sit back and wait for things to happen. Take the time to re-evaluate the steps you have been taking and the ones I am suggesting to see if a bit of “tweaking” in your methodology might work well for you.   Perhaps these suggestions will bring you more success where you will come out on the other side with a renewed sense of purpose and a mindset programmed to stay positive no matter what!

 

1. Give yourself time to mourn or grieve your loss

 

Any type of loss in our lives causes us emotional upheaval, and that includes the loss of a job and paycheck.  Being out of work also comes with other major experiences, some of which may not be what we want to face.  This job loss may cause:

 

  • Concern about how you will manage your life
  • Your professional identity crisis
  • Your self-confidence and “who am I” signature
  • Your work-based and friend social network
  • Your daily routine and purpose
  • You and your family’s sense of well-being and security

 

If you feel you need to see your minister, priest, counselor, etc., for some support during these tough times, don’t be afraid to do it.  Sometimes a wise relative you respect can be a good support person or even a trusted friend.  The main thing to remember through this entire process is that your “self-worth” is really not tied to your “net-worth.”  Just like the fabulous quote from Henry David Thoreau, “What lies behind us and what lies ahead of us are tiny matters compared to what lives within us.”  You have an amazing skill set and creative ability within you.  Hold on to those positives these days and know that with the right mindset and determination you will be able to turn this around.  I’ve heard from numerous clients lately that if the candidate is not coming into the interview with a positive attitude, their chances are not as good as they could be if they present themselves in a more upbeat and positive manner.

 

2. Consider other areas to define yourself:

 

Some recommend that writing is a good outlet during stressful times to help us heal.  Several years ago, I did just that. Taking a writing class opened up new doors and the writing itself proved to be a very healing exercise.  It gave me another identity as “a writer” during challenging times.

 

Losing a job might allow you to do something different to define yourself in a new way.  Maybe you like to garden, cook, paint or make jewelry.  Studies have found that using our creative ability allows us to heal and can have a huge effect on our self-esteem and identity. Solid self-esteem is very important in the interviewing process.  I have gotten feedback recently from clients telling me when candidates come across too down in the interview or report they have been on numerous interviews and have not had any offers, which puts a negative mark on their chances with the hiring authority.  Companies themselves are treading rough waters right now and don’t need to deal with any additional negativity. A positive mindset can go a long way in advancing your chances to make the second round of interviews.

 

3. Create a Job Search Plan

 

A famous quote I refer to often in my consulting practice to candidates is a quote by Benjamin Franklin, “If you fail to plan, you are planning to fail.”  Avoid getting overwhelmed by breaking big goals into small, achievable steps.  Instead of trying to do everything at once, set priorities.  If you are not seeing success in your job search, take some time to rethink your goals.  One of my candidates this past week had not heard back from the hiring authority for over a week.  He decided to see who he knew who could benefit from the products this company sold and made a phone call to them even before he knew he had the second interview.  He then called my client and told him he had done some research on his own and had made calls to his contacts in the industry and knew he could bring these possible leads to this company. He did a spreadsheet with the products these companies had purchased in the past and how this company could be instrumental in servicing their needs.  My client called me after receiving this spreadsheet and told me how impressed they were that he took the time to research and put this spreadsheet together.  They told me it demonstrated to them how beneficial he would be to their team.  An offer was made, he accepted and he starts this new job very soon.  By planning for a possible good outcome and putting an actual plan together on his own time with efforts that had no guarantee of success, it secured a new job for this candidate in a tough market.  These creative efforts are very important in this New Work World.  Just interviewing and demonstrating your accomplishments and what you have done in the past isn’t always enough.  Going over and above to bring out WHY you would help the company grow or make a difference on the bottom line is what companies are looking for these days.

 

Recently, I placed an oil and gas systems analyst applicant into a real estate related company due to transferable skills. In the interview, he bonded with the person he would be working for because of a common interest in hunting and fishing. This invoked the human element between the applicant and the client and secured a job offer.

 

4. Do daily exercise – even if it’s just a long walk.

 

A quote I’ve always liked is by Friedrich Nietzsche, “All truly great thoughts are conceived while walking.”  I believe that to be true.  I’ve gotten some great ideas on my walks in the early morning.  If work demands prevented you from exercising regularly in the past, make the time now.  Exercise relaxes tense muscles and relieves tension in the body, releasing powerful endorphins to improve your mood.  Trimming a few inches from the waistline and improving your physical presentation may also give your self-confidence a boost. I can’t express enough how your positive presentation on the interview is so important.  I’ve had candidates with exact backgrounds for a job get beat out of offers by others who have only transferrable skills.  You have to show how you can contribute to the task at hand and make a difference in a positive manner.

 

5. Reach Out to Stay Empowered

 

Your natural reaction during these challenging times may be to withdraw from friends and family out of shame or embarrassment.  Don’t ignore the importance of other people when you’re faced with the stress of job loss and unemployment.  I have heard it said that “social contact is nature’s antidote to stress.”   Nothing works better at soothing your shattered nerves than talking face-to-face on ZOOM with a good listener.  That person doesn’t even have to have solutions.  Just having someone to listen without judgment is what is needed.  It can be very healing and makes one feel supported.  Some people are afraid to reach out for support out of pride but opening up won’t make you a burden to others.  In fact, most people will be flattered you trusted them enough to ask for their ear and it will strengthen the relationship in many cases.  A candidate I was about to send on an interview wanted to cancel the appointment because his child had become ill and he felt he needed to be there.  We talked for a good while about how we could orchestrate him getting another family member to come over and sit with the child for a couple of hours so he could have a chance at this interview.  After we talked about his options in the situation and having someone to listen to, he felt more ready and calm to do the interview and he did end up getting the job.  If I had allowed him to cancel the interview in these very challenging times, I’m not so sure I could have been able to reschedule the appointment because of the surplus of good candidates available.

 

The Covid-19 Pandemic of 2020 has spurred the evolution of how the New Work World has revolutionized the job market.  When you take the time to plan your NEW strategy in this New Work World, you can allow yourself to stay positive with a new mindset and power up yourself to reach success.  There are as many avenues to success as there are successes. Old methods of finding employment are no longer working as we now adapt to new protocols. Most importantly is a positive mindset and a willingness to go the extra mile to show ourselves and our skillset in the best light to new employers.  In order to change on the outside, we have to start by changing on the inside and truly looking at what we have to offer that we might have overlooked in the past.  Success is at hand with positive and persistent effort.

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Growth Investing Leadership Personal Development

The One Question I Didn’t Have An Answer For

Throughout my career, I have recorded hundreds of podcast interviews, but seldom have I had guests ask me a question that I couldn’t answer. Well, that recently happened on my C-Suite Radio show, All Business with Jeffrey Hayzlett. I was talking with Ron Carson, the founder and CEO of Carson Group, a company with a mission to help financial advisors build transparent businesses and better serve their clients.

 

The question Ron asked me, “What’s the difference between a broker and a fiduciary?”

 

I had no clue, and I consider myself to be a reasonably sophisticated investor. It turns out; I’m not alone.

 

“Neither does neither does 99.9% of the investing public,” Ron said. “A fiduciary or an RIA (Registered Investment Advisor) is actually regulated by the SEC (Securities and Exchange Commission). Brokers are regulated by FINRA (Financial Industry Regulatory Authority), which is a self-regulatory organization.”

 

“If I’m a broker, my only duty to a client is suitability,” Ron added. “As a fiduciary, you’re required to put your client’s interests ahead of your own.”

 

With that lesson out of the way, Ron gave out some practical investment advice we can use, including a book recommendation.

 

“The Richest Man in Babylon is a really simple read,” Ron said. “It’s about how you can accumulate real wealth.”

 

Ron says one of the best ways to accomplish that is through real estate. While he’s not the first person on All Business to say that, he may be the first to look at the trends for guidance.

 

“In the next 20 years, we’re not going to have nearly enough affordable housing,” Ron said. “(Rental Property is) something you can put some effort into and it’s going to appreciate, you don’t have to pay the taxes, you get cash flow out of it. If you’re handy at all, go get rental real estate, fix it up, don’t flip it. Hold on to it long term.”

 

Ron said another form of real estate he likes to invest in is farmland. With the turbulence in the ag economy over the last few years, there could be an opportunity for the right investor.

“We’re losing arable farm ground every year by the tune of 20-some million acres through urbanization,” he said. “We have diets improving, moving from rice to protein, that requires more farm ground. We’re only one drought away from having it all turn around, but we could have some real pain in the farm world, which creates some opportunities.”

 

If you’re looking for stock market advice, Ron says technology and biotech companies are hot right now, but warns unless you are really good at evaluating companies look into ETFs (Exchange-Traded Funds) or mutual funds that are tech-heavy.

 

Even if you’re not ready to buy land, rental houses, or play in the stock market, you should keep an eye on your spending or, as Ron calls it, “The Latte Effect.”

 

Besides buying fancy coffee drinks, look at the subscriptions, memberships, and phone apps you pay for but never use. Those all add up quickly.

 

“Pay attention to the pennies, the dimes, and all the stuff that people waste. This is an easy area to make a big improvement in your life,” Ron said.

 

Ron didn’t just offer us all investment advice, we talked a lot about his business — — which helps independent financial advisors better serve their clients. While the company he built in the 1980s continues to move up the Inc. 5000, he has learned a lot about helping people and building a business. However, just don’t call his employees ‘staff.’

 

“We call them internal stakeholders,” Ron said. “Sometimes someone introduces me and says, ‘I work for Ron.’ No one works for me; everybody works with me because words really matter. It’s a cultural mindset. I tell my internal stakeholders every day if you’re not having fun, if you’re not loving what you’re doing most of the time, let’s find (you) another position in the company or let’s help you find a place to go without fear of retribution.”

 

He goes on to add, “Don’t get me wrong, profits are important, but they should be third on the list because we also have a responsibility to stay in business and continue to reinvest back in the business for the benefit of our clients.”

 

Those clients aren’t just relying on Ron for financial advice. They also use his proprietary software and his expertise as well. Over the years, he has evolved into a thought leader, even though that was never on his radar.

 

“Believe me, I was part of the class that made the top 50% possible,” Ron said. “My parents went broke when I was in high school and I’ve been running from scarcity my whole life. That was really my motivating factor.”

Things are a lot different for Ron today.

 

“I have confidence, conviction, and enthusiasm,” Ron said. “I say that I haven’t worked since I was 36 because that’s when I really surrounded myself with good people. I got to do the things I love to do and very little of my day involves anything I have to do, and I’m truly blessed.”

 

Ron exemplifies what hero leadership is all about — people and profits going hand in hand helping people make the world a better place. Thank you for sharing your wisdom and your philosophy of success with our listeners. To listen to the full interview, click here.

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

“This Is How To Negotiate Better On Social Media” – Negotiation Insight

People have asked me, should you negotiate the same way on social media as over the phone, or in-person? And my answer, like always, is, it depends. Every negotiation has nuances that make it different from those prior. That’s true, even when the same people are involved in a negotiation. Social media is an environment that possesses opportunities to use tools, such as bots, that you may not be familiar with in a negotiation. Take note of the following to discover how you can become more proficient when negotiating on social media.  https://bit.ly/3bcPa3N

Remember, you’re always negotiating!