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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/

#Risk #RiskAssessment #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 Economics Entrepreneurship Leadership Marketing Sales Skills Technology

Trends for Every Salesperson

Every profession goes through changes, especially sales. A certain sales technique may have worked in the past, but that doesn’t mean it’ll work today. To be a top-performing salesperson today and in the future, you must continuously adapt to both market and social conditions.

There are several new business trends taking place—all of which affect salespeople in every industry. Understand what the trends are and how to maximize them so you can maintain a successful sales career.

Your Past Success Will Hold You Back

People who are in sales long-term tend to be successful. However, success is your worst enemy. Being at the top and doing well means you’re just trying to keep up and meet demand. You’re not looking at future opportunities because you’re busy reaping the rewards of current ones. The old saying “If it isn’t broke, don’t fix it” should be reworked today to state, “If it works, it’s obsolete.” If you just bought the latest device, odds are that the newer, better version is already in existence and about to be released to the public. We must evolve to stay ahead of rapid obsolescence in business.

Technology-Driven Change Will Dramatically Accelerate

While it’s human nature to protect the status quo, you have to understand that technology is changing the future, customers’ behavior, and your company’s reality. If you don’t change, you’ll be out of a job. As a salesperson, you need to embrace change wholeheartedly rather than resist and hold tight to the past. Spend some time thinking about where these impactful changes are headed. Change causes uncertainty in customers’ minds, so you bring certainty to them when you display confidence in change.

Time is increasing in value

Time is becoming more important to people because we have an aging demographic of Baby Boomers in the United States. Time gets more valuable as you get older because you have less of it. The world is more complex, with much more for people to do with their time. With so much going on, everyone is increasingly strapped for time. As a salesperson, make your customers feel that talking to you is actually saving them time. The list of time wasters is virtually endless, and these hurt your sales and profits. Prove that you’re a time saver and people will choose you over the competition.

We’ve Shifted From the Information Age to the Communication Age

Many salespeople rely on static marketing tools like company websites, flyers, and sales letters. These methods are a one-way interface. The better way is to have your sales messages be dynamic. For example, you could have a contest that encourages people to go to your site and enter. Instead of just telling people to buy your snack product, you can encourage customers to go online and vote for the next new flavor, getting them involved. The key is to generate communication, engagement, and involvement through your sales and marketing efforts. Don’t just hand out information; you want to listen, speak, and create dialogue to capture your prospects’ interest.

Solutions To Present Problems Are Becoming Obsolete Faster

Almost every salesperson has been told to be proactive by taking positive action. Unfortunately, you must wait and see to know if a certain action is positive. Instead, be pre-active to future known events. You need to look at your customer segment and identify what types of events you are certain they will experience, and focus your actions on what will be happening rather than on what is happening. Being pre-active also means that you change the way people think. When you put out a new product, it takes a while to catch on because you’re not actively changing the way people think about how the product can be used. Constantly educate your customers on the value you and your products or services offer.

The Value You Bring Today is Forgotten Faster

Sell the future benefit of what you do. Most salespeople sell the current benefits to customers who already know what they are. Your goal as a salesperson should be to establish a long-term, problem-solving relationship with customers, not a short-term transaction. Your most profitable customer is a repeat customer, so help them realize the long-term benefit of your partnership. Show them how the products and services you offer will evolve with their needs by selling the evolution of your products and services. Sit down with your fellow salespeople to create a list of future benefits that you have for your customers, and then get an idea of where the product and service developers are heading to think of future benefits preemptively.

Sales Success for the Future

The more you understand and adapt to today’s current business trends, the better your sales will be—today and in the future.

Are you anticipating future trends in your sales career? If you want to learn more about the changes that are ahead and how to turn them into an advantage by becoming anticipatory, pick up a copy of my latest book, The Anticipatory Organization.

Pick up your copy today at www.TheAOBook.com

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

Can You Negotiate in a Life and Death Challenge?

“Perception determines how you’ll engage in an endeavor. Thus, you should always assess your perception before doing so.” -Greg Williams, The Master Negotiator & Body Language Expert

There you are. Everything is on the line. You’re negotiating in a life and death challenge. What might you do and how might you negotiate differently giving the life and death challenge that confronts you? Would the answer depend on whose life you were negotiating for?

Okay, let’s turn the temperature down a little. Suppose it was your job or a contract that you were negotiating for instead of someone’s life. Would that alter the negotiation tactics and strategies you’d employ?

There are central components that flow through every negotiation. The only thing that changes is their order based on the severity of the negotiation.

The following are components that will occur in every negotiation you’ll encounter. Master them and you’ll have a greater chance of mastering successful negotiation outcomes.

Mindset: Your mindset is your greatest ally or foe.

  • Always be aware of the mindset you possess when negotiating. Your mindset will determine the degree that you think logically or illogically.
  • Your mindset will change based on the challenges you perceive and how you address them. That will impact the interactions you have with the other negotiator.
  • Be aware of what causes you to see yourself differently. Therein will lie embedded clues about why your mind shifts. 

Bonding: I understand you. We’re alike.

  • People like people that are like themselves. And, they want to be heard and appreciated.
  • Bonding helps people to perceive you as being like them.
  • The time to ask for concessions in a negotiation is when you’ve bonded sufficiently. It’s an important factor that increases the odds of getting what you want.

Positioning/Controlling the negotiation: Look how far we’ve come. I see a positive outcome on the horizon.

  • Prior to starting the negotiation establish what will be discussed. That will determine the flow of the negotiation.
  • Set the agenda to discuss the items of greatest importance first. The other negotiator will have his priorities. So, be prepared to trade points to ensure you control the negotiation’s flow.
  • Determine which strategies and tactics are most appropriate for the type of negotiation you’ll engage in.

Reframing: That’s not what I meant.

  • Know when to reframe an offer. Sometimes people perceive offers differently from what was intended. If you sense that, reframe the offer. That will allow it to be viewed from a different perspective, which could make it more appealing.
  • To reframe an offer to make it more appealing, position it as a benefit to the other negotiator.

Pace: Change of pace alters a negotiation’s flow.

  • Bypass points of contention when you want to avoid them (e.g. Let’s come back to that later).
  • Negotiate slower or faster to increase or relieve anxiety or pressure when it’s to your advantage to do so.
  • Changing your pace of speech when making offers will impact their perception. If more time is required to have the importance of an offer appreciated, consider speaking slower. That will subliminally convey its importance.

Hope: The outcome doesn’t have to be bleak.

  • Brandish hope as an ally. Doing so will keep people engaged in the negotiation.
  • Take hope away when the other negotiator strays in the wrong direction. Your intent is to let him know that he’s engaged in a losing proposition.

Every negotiation you’ll be in will not be life and death. But the components above will be in every negotiation you’re in. Using them adeptly will enhance your probability of having a successful negotiation outcome … 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/

#Life #death #challenge #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 Investing Management Marketing Negotiations Sales Skills Women In Business

Do You Know When You Are On A Strong Peak?

 “Never view yourself as having peaked in life. There’ll always be other peaks to take you to higher points.” -Greg Williams, The Master Negotiator & Body Language Expert

Athletes know it, do you? Do You know when you are on a strong peak? A strong peak is different than a molehill. It’s when you are really at your best. It’s also important to distinguish when you’re at that point because to get there again, you must know how you achieved it.

Throughout our life, we peak and then we rest. During times of rest other occurrences beckon for our attention. Sometimes, instead of answering the call, we revel in our accomplishments and rightfully so. That’s not a bad thing. Because, during our respite, we re-energize ourselves, which prepares us for the conquering of our next summit.

It’s very important to note how we engage in the ups and downs that occur in our life. There are lessons of growth contained in those situations. One thing to remember is, when you’re down, you must get up. There’s always another peak waiting for you to conquer. When you’re up, know that it’s temporary. There will be higher peaks to reach.

The more you can use your mind to continuously strive to go higher in life, the higher you’ll go. Even when there appears to be a limit on your upward mobility, view it as being temporary. Until you die, you’ll always have the power to climb higher. Be you infirm, afflicted, or ridden by the doubt of self-disappointment, if you wish it to be and work hard enough to bring it to fruition, you can always climb to a higher point. Leap if you must from one peak to the other, that’s okay too. You’ll be seeking what awaits you at a higher level. Thus, dread not when you’re not at your strongest. Fear not when you’re encompassed by weakness. When you’re down, if you don’t give up, you’ll be able to climb up, up to higher heights … and everything will be right with the world.

What does this have to do with negotiations?

You’ll go through many mental peaks and valleys in a negotiation. When you sense you’re at a peak, note the offers, counteroffers, and strategies that served as your deliverer.

In every negotiation, you should be aware of where you and the other negotiator are mentally. Body language and other nonverbal signals will allow you to glean some insights (e.g. lack of sharpness, the way offers are viewed per what’s said, pondering too long, etc.). The point is, if you’re not alert, that might be an indicator that you’re not at a strong peak in the negotiation. Take heed of such positions. You’re more likely to make mistakes; the same is true of the other negotiator. There’s the opportunity for you to climb to a higher peak if the latter is true. But you’ll miss it if you don’t recognize the opportunity for the value it contains (i.e. knowing when you’re on a strong peak). Pay attention to such opportunities and greater rewards will await you at higher peaks.

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/

#Peak #Success #Emotion #Business #Progress #SmallBusiness #Negotiation #NegotiatingWithABully #Power #Perception #emotionalcontrol #relationships #HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions

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

Avoid Bias Mistakes – How to Negotiate Better

“Biases are motivators that move us to action. Be aware of those that serve you and those that don’t.” -Greg Williams, The Master Negotiator & Body Language Expert

Negotiator #1 – “I knew they’d back out of the deal. All of them negotiate like that.”

Negotiator #2 – “As I was negotiating with those guys, I knew I’d have to back out of the deal. They never negotiate fairly.”

In the above situation, neither negotiator was aware of their bias. The absence of that mindfulness brought unrecognized pressures on the negotiation. Each negotiator made mistakes because of it. It was also the reason the negotiation fell apart. Are you aware of your biases when you negotiate?

To negotiate better, note when you might possess the following bias mindset.

Cognitive:

These are biases that you’re aware of. They can easily slip your mind when you negotiate. It’s like breathing, automatic. The potential danger arises when you negotiate in an automatic mode and having this bias unknowingly directing your actions. To address it, be aware of what you’re aware of. Don’t shrug off a thought too lightly because you think you’ve addressed it. The more aware you are of how you feel, the better you’ll be at identifying why you feel a certain way.

Unconscious:

To be unconscious of anything is to be unaware of it. In a negotiation, when you’re unaware of a driving force, unconscious biases may be the source. To combat this possibility, note the source of your emotional sensations. Identify if you’re fearful, elated, expectant, or cautious. Then, note if it stems from a visual, kinesthetic, or auditory source. Doing that will sensitize your emotions to your state of mind. That will alert you to the realities of what’s motivating your action.

Culture:

It can be risky to lump everyone from the same culture into the same category. People are individuals with their own perspective of reality. The more you view someone as an individual, the greater the chance to see that person for the unique qualities they possess. Negotiating with them on that bases will enhance the opportunity to connect with them at their level. That will lead to better understandings about why they negotiate in a particular manner, while you help them obtain what they seek from the negotiation.

Bullying:

Some people bully others and some are just tough. Based on what you’ve experienced in life, you may deem someone a bully when negotiating. The person may just be a tough negotiator. There’s a difference in those personality types. Be very cautious about how you brand someone when negotiating. Because, the way you brand them will affect the way you view them, their actions, and the way you negotiate with them.

Confirmation:

We see what we expect to see. That affects our perception. Realize that your perception of reality won’t always be right. That should cause you to pause when you think, “I know he’s like ‘x’. Everyone in his group is just like that.” When making broad assumptions, be aware that anything which seemingly supports your beliefs may serve as confirmation about those beliefs. The truth may lie further from reality than you think. Don’t conflate like-appearing assumptions that should be thought separators.

The more you’re aware of the biases you carry into a negotiation, the less mental baggage you’ll have. Being aware of that fact and heightening it in the negotiation should lead you to greater negotiation outcomes … 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/

#Bias #Mistakes #Avoid #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 Entrepreneurship Human Resources Investing Leadership Marketing Personal Development Sales

5 Sales Strategies Not Found in How-To Books

As a salesperson, you’re trained to ask customers what they want in terms of your product offerings. That’s wise advice but it’s incomplete. If you only ask customers what they want and then give it to them, you’re missing the biggest opportunity that has ever come in front of you – the chance to sell innovation.

Technology allows us to do things that were once thought impossible. While it is important for salespeople to ask customers what they want and then deliver on it, all that will do is keep you in the game – not ahead of it.

Chances are your competitors are asking customers the same questions, they’re getting the same answers, and they’re providing the same solutions.

So how do you break through to the next level of sales and become an anticipatory salesperson? Below are six strategies you won’t find in most how-to sales books.

1. Follow the Golden Rule of Sales

The Golden Rule of Sales is to give people the ability to do something they currently can’t do but would want to do if they knew it was possible. In other words, the Golden Rule is to help your customers be anticipatory. It’s called the Golden Rule because it’s much more profitable than simply giving clients what they ask for.

The key is that you have to look a little bit further into your customers’ predictable needs based on where they’re going. Only then you can see unmet needs and new opportunities.

2. Get Comfortable Around Technology  

One stumbling block in selling technology can be that the end user is awkward with new types of technology and related products. But another stumbling block could be that you, as the salesperson, are unfamiliar or uncomfortable with the tech-driven solution you could be selling.

This is where the value of a time travel audit, one of the core components of my Anticipatory Organization Model, can prove essential.

3. Practice Anticipatory Selling

Anticipatory selling offers enormous opportunity for those who recognize that the very nature of sales is shifting and, further, that there are strategies to leverage that change.

One key strategy of anticipatory selling boils down to something I call a pre-mortem. Unlike a postmortem, which is an examination after the fact, a pre-mortem is focused on anticipating objections, problems and issues before they occur – and, from there, pre-solving them before the sales process even begins.

4. Raise the Bar on Trust  

You need to shift from being a vendor to being a trusted advisor. A vendor simply supplies a product. A trusted advisor supplies true advantage.

When you seek that higher ground and become a trusted advisor, your clients trust you more.

Remember that the future is all about relationships. Relationships are all about trust, and you gain trust by earning it. So never teach people to distrust you by stretching the truth or hiding some pertinent information. To differentiate, you need to raise the bar on trust.

5. Commit to Finding the Customer’s Truest Needs

When you focus on redefining what you already have, you can take your current offering and leverage it to new levels. That’s when you become a sales leader. It’s not because of some fast-talking sales pitch, it’s because of your commitment to your customers and their true needs.

So focus on relationships, trust and truth, and you’ll be able to give your customers tools and solutions they never dreamed possible. As a result, both you and your company will attain new levels of success and realize the profit potential you always knew existed.  

Want more tips for anticipatory selling? Get my book The Anticipatory Organization: Turning Disruption and Change into Opportunity and Advantage, available now at www.TheAOBook.com

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

How to Win More Negotiations by Framing Better

 

“Framing is the impactor on one’s sensibility.” -Greg Williams, The Master Negotiator & Body Language Expert

When framing anything, the better the frame, the greater the chance for a successful outcome. Consider a wall, versus a fence, versus a barrier. You can use all of them to protect those that are inside. They can also be what keeps those on the other side from gaining entrance. And, you can state that they can protect those on either side. So, what’s the difference from a framing perspective? The difference lies in the perception of how you define the barrier. That’s why framing is so important.

When you frame content to be discussed in a negotiation, your framing of it determines how it will be perceived, how it will be discussed, and how the negotiation will flow.

The following are a few insights you can use to win more negotiations by framing them better. Doing so will increase your chances of having a winning negotiation outcome.

Value Proposition:

Before you attempt to frame a discussion, you should know what someone’s value proposition is. Because, if you make a concession that’s not perceived as being valuable, you might open yourself to a greater request (e.g. I don’t need that, but how about ‘x’). If you’d not intended ‘x’ to be discussed, you could have framed your offer by stating, I can concede on this, but not ‘x’. By doing that, you take ‘x’ off the table before it has the chance of entering the offer proposition. Mind you, the other negotiator can still request to have it, but you will have set a marker for denying him his wish. If you’ve used it as a red herring, you may turn the perception of its value to a greater benefit to your position. Then, if you wish to concede it, you should request something substantial in return.

Framing Mindset:

“He was right before, isn’t he right now?” Be careful of how you validate or accept a point as being valid. Just because an entity has been right 99 percent of the time, doesn’t mean that it’s right this time. Then again, if the other negotiator subscribes to such a thought, use it to your advantage.

You can do that by stating that you’ll be discussing ‘x’. Then, state that ‘x’ has been proven to have a 99 percent accuracy factor. Framing any point in that manner lends more credibility to it. There’s also a sense of security implied in the statement, because most people like the perceived sense of being surrounded by others.

Combating Opposing Framing:

If it doesn’t serve your purpose, be prepared to refute the framing attempts of the other negotiator. While doing that, have your own talking points ready to rebut his attempts to refute yours.

A good negotiator knows the hidden value that lies in framing a negotiation. Therefore, there will be an aspect of ‘give and take’ as you and he spar over the process you’ll use, and how you’ll frame those processes, to engage in the negotiation. During the planning stage of the negotiation, give serious thought to how you’ll frame your points and the strategies you’ll use to alter the other negotiator’s perspective.

Personas:

How are you going to act? The persona you project during the negotiation, confidence, or a lack of, and when you project that persona, will impact the negotiation. So, you should plan for how and in what circumstances you’ll promote a certain persona versus another. That’s also where framing comes in. If you synchronize the framing with your persona, you’ll have more perceived credibility.

Framing can serve as a silent ally that lies dormant while waiting to lend assistance in positioning the negotiation. When used stealthily, it can be what gives you a hidden advantage that the other negotiator never sees coming. Thus, using it wisely can enhance your chances of winning more negotiations … 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/

#Framing #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 Investing Management Marketing Negotiations Sales Skills Women In Business

Negotiator Win: Know How to Turn Weakness to Power

“Weakness, like power, is perceptional. Knowing when to display one can expose the other.” -Greg Williams, The Master Negotiator & Body Language Expert

Have you ever employed the initial appearance of weakness as a tactic in a negotiation? It can be a great way to gather valuable information. When the other negotiator sees you in a weakened position, that’s the time when you can turn your perceived weakness into a source of power. Observe the following to do so.

The Opening – Setting the Stage:

To set yourself up to be perceived as weak, consider the following strategies.

  • At the opening of the negotiation, offer a weak handshake; this positioning is enhanced by allowing your hand to be on the bottom of the handshake (i.e. the other negotiator’s hand on top of yours). That will subliminally signal subjugation on your part.
  • Project a sense of slowness to grasp points. Don’t overplay your hand. Remember, you’re playing the role of someone that’s not sure of himself.
  • Allow yourself to be maneuvered by making concessions quickly when doing so is not detrimental to your position.
  • Refer to having to consult a higher authority when pushed too hard for a concession; that’ll convey a sense of powerlessness.
  • While engaging in the processes above, seek to uncover the other negotiator’s source(s) of power. You can use that as leverage against him later in the negotiation.

Mid Game – The Turn:

This is the point at which your demeanor transformation begins.

  • Know the strength of your resources compared to your opponent. That will be your source of power. You can use it as leverage during the negotiation to thwart his efforts.
  • During the negotiation, be prepared to refer to a higher authority that trumpets the other negotiator (e.g. him – we reached a multimillion-dollar deal with company x last year, you – we know that and they’re talking with us this year; I guess they didn’t like the results of your deal.)
  • Create a false sense of value with red herrings as chits that you can trade later for items and concessions of importance.

End Game – The Closing:

This is the time you employ tactics that display, you’re no longer a weakling.

  • Begin to use the red herrings you set up in the prior phase to enhance your negotiation position. Be stubbornly diligent when making concessions at this point. Your efforts should send a subliminal message that indicates, you’re going to be a tough negotiator from this point on.
  • Once you’ve engaged in the strategies above, be cautious. You will have transformed yourself from the weakling you initially appeared to be into a titan. The other negotiator will realize that he’s dealing with someone that’s more astute than he originally thought. That will cause him to raise his guard. He’ll also be seeking ways to adjust his negotiation strategies to match his new reality.

The timeframe and phases mentioned above still have to be accompanied with the negotiation strategies that are appropriate for the type of negotiation you’re in. Thus, the outline above should serve as a foundation to which you can add more specifics steps to fit your situation. By using this outline, you’ll be well on your way to creating a roadmap that leads to more successful negotiation outcomes … 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 #Weakness #value #Hide #bodylanguage #Negotiator #Business #Management #SmallBusiness #Money #Negotiating #combat #negotiatingwithabully #bully #bullies #bullying #Negotiations #PersonalDevelopment #HandlingObjections #HowToNegotiateBetter #CSuite #TheMasterNegotiator #psychology #NegotiationPsychology

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

Are You Being Manipulated?

“Manipulation is a means to an end. If you don’t like what may lie at that end, control the means.” -Greg Williams, The Master Negotiator & Body Language Expert

Everyone’s manipulated. Are you aware when it happens to you? If you know when it’s occurring, how does it feel? Sometimes, when people knowingly allow others to manipulate them, their mind becomes susceptible to being tranquil. Without knowing it, they become more vulnerable to manipulation. Are you aware when you’re in such a state?

“She said she was waiting for me. So, I sped up and a cop stopped me for speeding. When I arrived at the meeting location, I discovered she wasn’t there. She wanted me to think she’d arrived. I realized she’d manipulated me. The cost of that manipulation could have been a speeding ticket had the officer given me one; fortunately, he let me go with a warning.” Those were the solemn words of an account manager to his business associates about how he’d been manipulated.

Every day of your life, you’re manipulated. To control the degree that you’re manipulated, take note …

The degree of manipulation:

The more desperate someone becomes to reach a goal, the more irrational their efforts may appear to obtain it. Note the ratcheting degree of their efforts. Heightened attempts to manipulate you may occur during such times. If someone appears to border on irrationality, intensify your sense of awareness. It’s also the time that you might be most vulnerable to being manipulated, due to a proposal appearing too good to be true. Raise your guard higher and be mindful of your thought process during such times to ward off manipulative tactics.

Understand the intent of manipulation:

There are different forms of manipulation. Thus, the word ‘manipulate’ does not necessarily have to convey a negative sentiment. There are good forms of manipulation (e.g. keeping you from harm’s way). Thus, you should assess if the attempt to manipulate you is for your betterment or detriment.

If attempts to improve your plight are made through disguised means, you should be aware of such tactics even though they’re not as potentially damaging as those that might be applied for nefarious purposes. The point is, someone is still attempting to manipulate you, which means they’re trying to control you. For better or worse, you should always maintain control of yourself. Even if you wish to relinquish control, you’re the one in control of that decision.

The greater your understanding of someone’s manipulation intent, the more understanding you’ll possess about the efforts and where such is attempting to lead you. If you don’t wish to go there, don’t allow the manipulation to continue.

Someone attempts to manipulate you every day. You can control their efforts by controlling yourself. Once you do, you’ll exert greater control over your life … and everything will be right with the world.

What does this have to do with negotiations? 

Manipulation occurs in every negotiation. You and the opposing negotiator engage in it to alter the other’s perspective. The more insight you have about his goal for the negotiation and the strategies he might employ to obtain it, the greater insight you’ll have about the manipulative tactics he’ll employ to reach it. That will give you a mental form of protection, which should allow you to be more understanding of how to control his efforts. In so doing, keep your emotions in check. That’ll lead you to even greater control of the negotiation. To control your emotions, remember, you’re attempting to do the same thing to him that he’s attempting to do to you.

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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Best Practices Investing Personal Development Sales

Your 2019 Resolution: Control the Suck of Discounting Expense

There is almost nothing you can do for your business with a higher financial payback than getting your arms around your discounting practices. I want you to make a New Year’s resolution to put rigor and discipline around your discounting (some call it “pricing exceptions”) policy and processes.

Why is this so important for your business?  Simple math.  When you sell your product or service to a customer, your costs to fulfill your part of the deal are the same—regardless of whether you discounted or not.

Discounting changes only two lines on your P&L statement: the top line and the bottom line.

When you grant a discount, every dollar you surrendered comes off of your bottom line, and goes to the customer’s.

For an operating business, your profits are made at the top line.  A pricing and/or discounting decision is what drives profits.  Once you see a number on the bottom line, it’s too late to do anything about it.  Discount expense sucks the life out of companies.

Resolution Part #1. Take Stock of Your Current Discounting Practices.

I am thrilled to help my readers analyze where their discount dollars go and their system for allocating those dollars. Let’s examine how you make discounting decisions together.  If you’d like to prepare, or go through the exercise on your own.  Some of the questions we’ll go through:

How many discount dollars do you spend per year?

  • Formal, through an exception process?
  • Invisible, through salesperson autonomy?
  • Does everyone in your company know that discount dollars=profit dollars? Do they act like it?

What is your price exception/discount process now?

  • What are the steps?
  • Who are the players?
  • What information/documentation is used?
  • How is the discount justified?
    • Is customer value measured/characterized? How?
  • Do you always know what the customer thinks of yours andthe competitor’s value (or just their price)?
  • How consistently do your people follow your process?
  • Have you (or can we) analyze how discount dollars are distributed? Are there concentrations by territory/salesperson, region, customer, industry, time of year?  Can we explain any apparent anomalies?
  • What do we get in exchange for price concessions?Are there any salesperson/regional/market trends in that data?

What These Questions Uncover.

The first thing we’ll discover is how well you track discount dollars. Since every one of these dollars is also a profit dollar, you need to know where every one goes. If you don’t know where your discount dollars go, your business is leaking profits.

The questions above help both of us understand how you make pricing and discounting decisions, where the discount dollars go, and if there are any suspicious trends.

Are my discount dollars being over-allocated toward:

  • The whiniest salespeople?
  • The favorite salespeople?
  • The whiniest customers?
  • A certain market?
  • At a certain time of the month/quarter/year?

That last one frustrates the heck out of me: I’ve held P&L responsibility, and have never felt that an unprofitable booking this month beats a profitable booking next month.  I’d feel that way even without the perversion of what month-end discounting teaches my customers.

I also want to explore the basis of discounting (whether/how much) decisions.  Squeaky wheel?  Best at gaming the system?  Price-based? Or…value based?

The Gold Standard of Discount Systems:  Customer Value Based.

99% of the time you hear “your price is too high”, what the person is really saying is either “your value is too low”, or “I’m inviting you to help me understand your value”.  I specialize in helping my clients have those discussions effectively. I can point you to a methodology which will steer those conversations toward value and away from price…and certainly away from unnecessary discounts.

If you have a solid methodology for understanding customer value, some great things happen to your discounting practices:

  • Discounting is purposeful. It no longer feels as random or arbitrary.
    • Your people will understand the system and feel more fairly treated
    • You might quiet the squeaky wheels; the people who scream the loudest for discounts.
  • You will be confident in your discounting decisions.
    • You’ll make better decisions about product enhancements, market entries, even market exits.
  • You will discount less and profit more.
  • You will produce more accurate forecasts. Knowing customer value is the same as knowing customer motivation. When you truly know value, you are intimately engaged with the customer’s innermost buying decision dynamics.

Resolution Part #2. Build A Value Based Pricing/Discounting System.

I can help you if you want.  Here are some options:

1. I’m feeling pretty good about the latest draft of my book on the subject.  If you’ll give me merciless feedback on it, I’ll send you a .pdf copy to review.  The book will guide you toward developing a better pricing/discounting system.

2. Let’s talk. Reach out at mark@boundyconsulting.com.  If you want to work toward a system together, prepare for our call by looking through the “take stock” questions above, and  prepare any questions for me.

Whatever you do, and however you choose to get help, please do it. The road to failure is paved with poorly justified discounting decisions.  I want you on a better path.

To your success!