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The Long, Hard Road

I recently interviewed Rick Wartzman for my Business Builders Show podcast. Rick is the Director of The KH Moon Center for a Functioning Society at the Drucker Institute, a part of Claremont Graduate University. Rick has written a great book, The End of Loyalty, The Rise and Fall of Good Jobs in America.  This book has 363 pages and 25 pages of citations and sourcing. This is a very well -written, well documented account of the topic of the book. At the beginning of the interview I pointed out that he started the book in 2009 and it was not published until 2017. I asked him why did it take that long? After he made a joke about him being “slow”, he pointed out that it took that long to check on and validate all the information he wrote about in the book. It simply was the long, hard road to get the book done right.

Todays blog from Seth Godin is “Low & Slow (vs.fear)”. He talks about how he rushed the baking of sourdough rye bread. He did not let the dough ferment enough and he turned up the oven, so he could get it done faster so he could meet someone. It did not turn out well. Then he points out a flipside to the story – “Sometimes, we mistakenly believe that we’re building something that takes time, but what we’re really doing is hiding. We stall and digress and cause distractions, not because the work needs us to, but because we’re afraid to ship.”  BTW, remember that Seth Godin has been blogging for I’m not sure how long (a long time) and has not missed a day.

When do we decide to take the long and sometimes difficult road? I see the value in the long view. Just like baking bread correctly, getting a story (your work) right so you can share your insights usually takes time. Be patient. Stay focused. Believe the work you are doing is worthy of the time and effort. So, unless there is an immediate need for speed, consider the long term. Think of the lasting impact your work can have if you take the time to complete all the steps in the process. Those steps will include diligent study, bouncing ideas off family, friends and colleagues and being committed to producing work which will have a positive, lasting impact.

Rick Wartzman, congratulations on taking the time, the long, hard road, to write a terrific book. Seth Godin, slow down and better luck next time with the sourdough rye bread.

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Tips for Performing Under Pressure: The Resilient Mind

Over the past 35 years, I have worked with many high-achieving professionals – athletes, actors, dancers, speakers, and business leaders in a variety of fields. One of the common denominators that is true across the board, is as soon as we raise the stakes of the game and more is demanded of us, new skills and new perspectives are required.

It’s interesting to note that emotions are processed in the brain as predictions based on our past history. In other words, if we had a bad experience at an earlier time in our lives, our brain remembers that experience and expects the same result in the future. This is why telling ourselves to “just get over it,” doesn’t always work.

At the time of this writing, the Winter Olympics are just ending. What can we learn from these athletes about performing under pressure? A number of them have come back from heartbreaking defeats and devastating injuries. How do they work with their minds to overrule the brain’s natural tendency to avoid pain and danger?

There are many factors that go into that answer, but again, to play at a very high level, new skills and perspectives are required. We can summarize the needed qualities in one word: “Resiliency.” Some people are more naturally resilient than others. But resiliency can be learned and nurtured from a very early age.

Let’s look at three essential qualities of a resilient mind:

1. Attitude – Resilient people look back at difficult experiences as challenges to invent a new future. They see solutions, strength and inspiration. So, one’s attitude can mitigate the brain’s natural tendency to see the world as an unfriendly place. By changing your attitude, you are actually building new neural pathways, which now means you are writing a new story.

2. Positive Self-Image – Resilient people are constantly evaluating themselves from a NON-JUDGMENTAL perspective. What worked, what didn’t work? They are willing to make course corrections based on their objective analysis.

3. Sense of Purpose – in order to subject ourselves to the high demands and challenges that “going for it” requires, we need to have a powerful reason. Simon Sinek, in his Ted talk, called it “Your Why.”

When your attitude, your self-image and your purpose are in alignment, you have the magic ingredients to forge a new future. Even though your mind “remembers” past negative experiences, you are not destined to repeat them.

If you find that you “know” this information, but are still not able to let go of situations you feel are still holding you back, I invite you to take the Mastery Under Pressure quiz on your level of peak performance skills at www.masteryunderpressure.net.

And join our Facebook Community at Mastery Under Pressure Community, where you’ll learn more about strengthening those building blocks to greater resiliency and
peak performance.

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5 Ways to Hack Your Way to Winning Negotiations

“Hacking is a way to discover new value. View the value in what you have for multiple purposes.” –Greg Williams, The Master Negotiator & Body Language Expert

When you hack something or a process, you discover new ways to use new insights to obtain new values. In a negotiation, you can hack your way to winning negotiations by using techniques, strategies, and tactics in different ways.

Hack 1: Define your words. In the above statement, I gave the definition of how I was using the word ‘hack’ in this article; it means to uncover ways to negotiate better by using existing techniques and strategies in different ways. Since the word, ‘hack’ can have negative connotations (e.g. “he’s a hacker”; meaning, he’s not good), I needed to define it for you so you’d understand my intent. Thus, even if a word or procedure has an existing meaning, you can alter it to serve your purposes in a negotiation. If you’re successful, that will give you greater control of the negotiation. It’s akin to the wizard behind the curtain changing the color of the day to suit his needs.

Hack 2: Consider how you can spin an outcome to appear favorable to your position (e.g. after losing a point badly – “they didn’t win. we were positioning ourselves so we’d be in a favorable position for the next phase of the negotiation.”) When spinning an outcome know your intent. If not, you run the risk of appearing foolish or completely out of touch with reality, which in some cases can prove to be advantageous for you, too (e.g. “I don’t know if he’s crazy, or crazy like a fox.”)

Hack 3: Depending on the severity of a negotiation, think of how you can frame someone (i.e. how you wish them and/or their position to be viewed/perceived). In really tough negotiations, some negotiators will take their opponent to the school of dirty tricks. By doing that, they determine how the opponent and/or their position will be unfavorably perceived; you see this occurring more in high-level institutional negotiations, but you also see it occurring in negotiations between individuals that have winning as their sole source of motivation.

Hack 4: Confusion will usually lead to inaction. If you find you’re losing a point that’s vital to your position, try confusing the issue. You can do this by citing sources of disinformation; in a best-case scenario, you would have fomented the disinformation prior to the negotiation. If nothing else, confusion will slow the negotiation down. It can also serve as a bridge to a point that’s more favorable to your position. To be effective, plan how and when you might use confusion as a tactic in your negotiation. Hack 4 can also be incorporated into hack 3.

Hack 5: If you’re knowledgeable about reading body language, there are ways you can send nonverbal signals that enhance or detract from what’s been said. You might intentionally want to introduce doubt into a statement made by the other negotiator, even if you believe what he’s said to be true; do this by tilting your head to the side in an inquisitive manner. Then, allow him to convince you that he’s sincere. Psychologically, he’ll feel good about convincing you, which means you can use his good feeling to keep him endeared to you.

There you have it. Five hacks that you can use to enhance your negotiation efforts. Try them out and observe how your negotiation win rate soars … 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 5-minute video on reading body language or to sign up for the “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.themasternegotiator.com/greg-williams/

#hack #hacking #negotiations #HowToNegotiateBetter #CSuite #TheMasterNegotiator #psychology

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Accounting Economics Entrepreneurship Industries Investing Personal Development Taxes

Maximizing the Value of Your Carried Interest

After the passage of the 2017 Tax Cuts and Jobs Act (ACT), many people are wondering how to maximize the value of their carried interest. There are some changes in the ACT that might affect how you proceed when selling or transferring your carried interest to achieve long-term capital gain treatment. These rules apply to taxable years ending after December 31, 2017.

NEW THREE-YEAR HOLDING RULE

Perhaps you’ve heard of the new three-year holding rule but you’re not sure if it applies to you.

Distributions and gains passed thru to you because of your carried interest

To receive long term capital gain rates (20%) on gains or distributions associated with your carried interest from the fund, the underlying investment at the fund level must be held for more than three years.

Sale or redemption of your Carried interest

If you decide to redeem or sell a portion or all your carried interest, your interest must be held for more than three years to get the long-term capital gain rate treatment.

Additional guidance from the IRS is needed to see if the underlying investments at the fund level must also be considered when you sell or redeem your interest.

Planning Point: The good news is that if stock is distributed to you and it has not yet met the three-year requirement, you can use the fund’s purchase date of the stock and hold on to it until it satisfies the three-year requirement to achieve long-term capital gain rates.

TRANSFERS OF CARRIED INTEREST-HIDDEN TAXABLE EVENT

Prior to the ACT, when you gifted your carried interest to a non-charity, typically your accountant would inform you that you may incur some gift taxes or if the proper structure was in place, no gift taxes at all.

Now, with the passages of the new ACT, you may get a call from your accountant asking you to not only pay gift taxes, but income taxes as well.

What? Income taxes? Yes.

Now, when you sell, transfer or gift your carried interest to a person related to you, you may recognize a short-term capital gain.

How much? Well, it’s complicated. That’s tax simplification.

Who is this person related to you? Well, that’s changed too. Now it includes not only your relatives but your colleagues, vendors and current or former employees.

Planning Points: Make sure that you talk to your tax advisor before making the transfer. Try to do the transfer on January 1 or December 31 when the fund can value the fund assets.

ENTITIES SUBJECT TO THESE RULES

These rules apply to individuals, trusts and estates, but not corporations.

Planning Point: It may be possible to hold the carried interest in an S Corporation and avoid these rules.

TYPES OF BUSINESS SUBJECT TO THESE RULES

The ACT only applies to partnership interest (which may include limited liability companies) that hold entities that raise or return capital from investors (VC’s, PE’s and hedge fund managers), investing in, disposing of, or developing securities, commodities, cash options or derivatives, (investment fund managers) and real estate held for rental or investment.

Entities not subject to the ACT

Farmers that hold land in which they actively farm are not subject to these new rules. Additionally, these rules generally should not apply to “profit interest,” granted to service providers who are employed by a related but separate entity (e.g. a management company).

The rules also do not apply to gains attributable to any asset not held for portfolio investment on behalf of third-party investors. We will have to wait for more guidance for this definition.

There are still many unanswered questions regarding these new rules, with hopefully more guidance coming from the IRS and Congress. Practically speaking, if you’re involved in investments, and hold the assets for more than three years, then these new rules will not have much impact. Furthermore, California has not adopted these rules.

However, there are still numerous traps for the unwary. At GROCO, we assist high net worth clients and their families with wealth creation, family transfers, taxes and charitable giving. Please give me a call at 510-797-8661 if you need assistance or have questions on these new rules or would like to know how to make, keep and/or transfer your wealth.

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8 Words That Will Make You a Better Negotiator – Part 2

“Words have an impact! Choose impactful words carefully when negotiating, they’ll determine your degree of effectiveness.” -Greg Williams, The Master Negotiator & Body Language Expert

This article is part 2 of a two-part article. It contains an explanation of the second group of 4 words that complete the 8 words you can use to become a better negotiator. Here’s the link to part 1 of this 2 part article  http://www.themasternegotiator.com/8-words-will-make-better-negotiator-part-1-2-negotiation-tip-week/

Now imagine the new you, not limited, because you are instantly free.

There are 4 words contained in the sentence above that will make you a better negotiator. Do you know which words they are, how to use them, and why they’ll give you an advantage when negotiating? After reading this article, you’ll know why those 4 words have such power, and how to use them in your negotiations.

Communications can be challenging when negotiating. That’s one reason why you should always be mindful of the words you use, the impact they’ll have, and how such words will position you in a negotiation.

The 4 words are, now, imagine, limited, and instantly.

4. Now – The word, ‘now’, implies in the moment. You’re not in the past or future, you’re in the present moment. That’s the power of ‘now’. It makes you focus on the situation at hand while clearing the cloudiness that other aspects of the negotiation might present.

Use the word, ‘now’, to focus the other negotiator’s attention on what’s being discussed in that moment. The word can also be used to distract from items that may attempt to conflate matters that may or may not have relevance to the negotiation.

6. Imagine – ‘Imagine’ is a wonderful word to use in a negotiation. It can take the negotiation from the here-and-now to a place where happiness or dread awaits.

You can use the word, ‘imagine’ when you want to transform the other negotiator’s perspective from a more or less agreeable point to one that is more aligned with what you seek from the negotiation. Use the word, ‘imagine’, to allow him to become transfixed in an emotional state where harm does not exist or where it looms voluminously.

7. Limited – This word implies that there’s not a lot of what you’re discussing; “if you don’t grab this soon, it’ll be gone and you’ll miss out.” That’s what, ‘limited’ implies.

Good negotiators will test you when you state that something is limited. Still, if your boast is proven to be true, you’ll move the other negotiator to action by using this word as a call to action. Just be mindful of how and when you use it. If its use is proven to be untrue, you might cause irreversible harm to the negotiation.

8. Instantly – Everyone seeks gratification. For some, the need for such acquisition is greater than others. The word, ‘instantly’, implies that you can have what you seek, right now.

You can enhance a negotiation by giving the other negotiator a sample of what he seeks from the negotiation; make sure it’s something that he really wants. By doing that, you’ll be instantly giving him a taste of what he can acquire if he adopts your position. If this tactic works with him, you will have also uncovered his need for gratification, and to what degree he’s willing to control it to obtain what he wants from the negotiation.

You now have new insights into how the above words can instantly increase your negotiation abilities, and just imagine, you acquired these words for free because you read this article. Imagine what this new knowledge will do for you. Don’t let yourself be limited, use these words in your negotiations … and everything will be right with the world.

 

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 5-minute video on reading body language or to sign up for the “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.themasternegotiator.com/greg-williams/

Remember, you’re always negotiating.

#HowToNegotiateBetter #CSuite #TheMasterNegotiator #psychology

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Opportunity Can Reside Inside of Confusion – Negotiation Insight

“Confusion is a time for reflection. Use it to slow down your thoughts. In doing so, you’ll see what’s been speeding past you.” -Greg Williams, The Master Negotiator & Body Language Expert

Have you ever caught yourself, or caught someone else, in a state of confusion? I’m talking about being truly perplexed and in a quandary about what action to engage in next. Confusion may have shown on the face or been revealed in some non-action. If it was you, you may have felt embarrassed, a sense of anxiety, or just an emotional tug to get out of that state of mind. At such times, in such actions, an opportunity may be lurking. Here’s why I say that.

When someone is confused, they become unsure of what to do next. That will usually cause them to go into a state of reflection, one in which they assess their circumstances, in an attempt to decide what action to engage in next. That’s the time that people are most susceptible to suggestions and external influence. If you’re the person in that state, be aware of your susceptibility. That’s not to say that being susceptible is bad at such a time, it’s simply to say, be aware of your environment, what suggestions are being offered, and how you feel at that moment about making decisions. You should understand when others are in such a mindset because they too are susceptible to being influenced by you.

Here’s the point, the more aware you are about the stimuli that motivate you to address one set of actions versus another, the better you’ll be able to adopt actions that are beneficial. So, don’t shun confusion when you encounter it, embrace it for the potential value it may contain. Then, use that to your advantage … and everything will be right with the world.

What does this have to do with negotiations?

“He had an expression on his face that said, ‘he was hanging around like a dangling participle.’ You could see that he didn’t know what to do next.”

In a negotiation, a state of confusion can be good when induced in the other negotiator, such can be the case when it’s induced in you, too. Per confusion being of benefit when induced in the other negotiator, it depends on the type of person with whom you’re negotiating (i.e. Open – I’ll follow your lead because I trust you. Easy – willing to go along to get along). These types of negotiators are initially more open and willing to work with you than the ‘Hard’ or ‘Closed’ style of negotiators. Thus, you can elicit empathy from the opposing negotiator when you’re in a state of confusion, and lead him from his dilemma when he’s in that state.

In your negotiations, don’t be dismayed by confusion. View it as an opportunity and be prepared to utilize it as the gift that it might present.

What are you thinking? I’d really like to know. Reach me at Greg@TheMasterNegotiator.com

To receive Greg’s free 5-minute video on reading body language or to sign up for the “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.themasternegotiator.com/greg-williams/

Remember, you’re always negotiating.

#HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions #Psychology #Truth #Perception #Confusion

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Maximize the First 30 Minutes of Each Day

How do you set the tone and maximize productivity at the beginning of each day? Do you give yourself space to map things out or are you more of a wing-it kind of person? I believe how you START your day, sets the intention and momentum for how the rest of the day’s will transpire. When you begin with 30-minutes of focused attention to what really matters most –  that time will pay generous dividends by the end of the day.

Here are strategies maximize productivity and ensure a successful day in the first 30 minutes:

  1. Turn OFF your phones. It’s all right. That magical device that is glued to hands seemingly every waking minute of the day, delivering phone calls, chats, text messages and emails at an often-alarming rate does turn off. So does the desk phone! Take 30 minutes to create space for focus. It will all be there when you turn it back on. It’s just an hour. And there’s voicemail! If it’s important, they’ll leave a message or call back.  If you want to maximize productivity – turn off your phones.
  2. Close your door. If you’ve got one. This sends a signal to your team (or your family if you are a work-from-home entrepreneur) that you are unavailable unless there is an emergency. If you are new to the practice, educate your team what procedures you want to have in place when your door is closed. Once everyone is on board that this is your time to create, get strategic, work a business plan, and map out your day, they’ll recognize the importance. Especially when they see the RESULTS.  If you are forced to work in an open environment, consider headphones. I used this technique in one organization, and people eventually got the idea that when your headphones are in, it’s the equivalent of a do-not-disturb sign.
  3. Use smart time-blocking. My recommendations? Book all meetings to start after 9.00 am. If you’ve always had early morning meetings, this might be a tough change, but if needed, can you start your “clock” an hour earlier to ensure that you have a full 30 minutes to complete your planning?
  4. Start off-site if possible.  Can you complete your 30-minute mindset and strategy session BEFORE you walk through your office doors? That way when you are actually in office – you hit the ground running. Once you’ve mastered this, teach your team. Once they’ve mastered it – your Key Performance Indicators (KPIs) will go through the roof. A study done by Ctrip shared that remote workers are able to complete 13.5% more than their comparable office workers. How’s that for food for thought.
  5. Quit the clutter. Seriously. Inboxes. Coffee cups. Paperwork piles. These distractions are stealing brain bandwidth and steering your attention away from streamlining your day. Out with them!  Maximize productivity by decreasing visual distractions.
  6. Check off that early morning workout. If you can muster it, get your exercise out of the way first thing. Start small if you have (15-30-minute increments) but do start. You’ll feel like you’ve already checked one big daily goal off your to-do list! Cheers!
  7. Nix the gossip in the bud. Honestly, gossip is one of the biggest time, energy, and productivity drains an organization can have. We Aussies call a gossip a “flibbertigibbet”. Studies show that 39% of workers admit that gossip and workplace chat are their biggest productivity killers. Another study conducted by Equisys also shared that the average employee spends 65 hours a year gossiping in the workplace! Cull this invasive “thief” from your company if you truly want to maximize productivity.

Starting your day in planning mode will help you stay focused, on track, and set the right tone for not just your day – but that of those around you. Lead by example. Pay ATTENTION to the INTENTION you set for each day. Your productivity, profitability, and bottom-line results will reflect your efforts!

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8 Words That Will Make You a Better Negotiator – Part 1

“Choose your words carefully in a negotiation, they’ll determine your degree of effectiveness.” -Greg Williams, The Master Negotiator & Body Language Expert

This article is part 1 of a two-part article. It contains an explanation of the first 4 of the 8 words that you can use to become a better negotiator. Part 2 will be released in the next ‘Negotiation Tip of the Week’.

Now imagine the new you, not limited, because you are instantly free.

There are 4 words contained in the sentence above that will make you a better negotiator. Do you know which words they are, how to use them, and why they’ll give you an advantage when negotiating? After reading this article, you’ll know why 4 of those words have such power, and how to use them in your negotiations.

“You misunderstood me”, said the first person to the second. “No, I didn’t. You used words that had a different meaning then what I understood,” was the response.

Communications can get dicey when negotiating.  Thus, you should always be mindful of the words you use, and which words have a greater impact on the negotiation.

The first 4 words are, new, free, because, and you.

1. New – Everyone is drawn to the word, ‘new’. It symbolizes something that’s not been seen/heard and/or revised. Some people are influenced by this word simply because they want to be/remain state-of-the-art. They want to be part of what’s trending so that they can be in-the-know.

Use the word, ‘new’, in your negotiations when you wish to instill a degree of excitement about a changed or enhanced position/offer. Be mindful of not overusing it. To do so will weaken its impact.

2. Free – Who doesn’t like to get something for free? The word, ‘free’, has been used throughout time to draw people in to examine how they might acquire something for nothing. At least that’s their initial impression when they see or hear the word, ‘free’.

In your negotiations, you can use the word, ‘free’, as a tool of risk reversal (i.e. I’ll reduce or eliminate the risk of accepting what I’m stating to be true). As an example, you might offer the other negotiator the opportunity to examine or engage in your offer for a period of time before she makes a commitment to engage further. By doing so, she’ll have the time to experience for herself the value of what you state as the outcome she’ll receive.

3. Because – Studies have shown, when you use the word, ’because’ in a request, people are more likely to grant your request. This has been borne out even when there’s no following reason given after the word ‘because’ is used.

Use the word, ‘because’, when making a request during a negotiation to give the other negotiator more insight into why you’re making the request. You’ll be giving him more insight into your negotiation strategy, so be alert about how much information you give and only give what’s needed at the time.

4. You – There’s nothing more powerful to you than the sound of your name. Your name captures your immediate attention. In a negotiation, it would become tiresome to continuously use someone’s name. That’s where the word, ‘you’, comes in.

During a negotiation, you can use the other negotiator’s name when speaking to him; a subliminal trick would be to tie his name to the word, ‘you’, every time there’s a perceived positive aspect to the negotiation (e.g. John, the outcome of this negotiation is going to make you look like a superhero to your bosses!)

You now have new insights into how the above words can instantly increase your negotiation abilities. You acquired these words for free because you read this article. Imagine what this new knowledge will do for you. Use these words in your negotiations … and everything will be right with the world.

Please be sure to see the next “Negotiation tip of the Week” for the other 4 words that complete the list of ‘8 Words That Will Make You A Better Negotiator”. 

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 5-minute video on reading body language or to sign up for the “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.themasternegotiator.com/greg-williams/

Remember, you’re always negotiating.

#HowToNegotiateBetter #CSuite #TheMasterNegotiator #psychology

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What Causes Fear in You?

“If you don’t know what to be fearful of, you’ll be susceptible to fearing anything.”  -Greg Williams, The Master Negotiator & Body Language Expert

Are you truly aware of why you deal with fear the way you do, the source of your fear(s), and the impact it has on your psyche? Fear can paralyze you if it’s not controlled. Do you control your fears?

… ‘This is really messed up. I’m really afraid!’ Those were the words that a friend stated to me. He was speaking of a situation that had instilled fear in him. When I probed to understand why he was fearful, he said he wasn’t sure, but, he had a gut feeling to be cautious.

Fear ignites a sense to protect yourself. It may do so to prevent what’s perceived as being harmful. It may also do so to keep you within the boundaries that you deem to be mentally safe; just an FYI, preventing what’s perceived as being harmful and keeping you within the boundaries that you deem to be mentally safe are two separate thoughts. They stem from two different sources of motivation. I point that out as something to be cognizant of (i.e. what really causes fear to become born within you and then what causes the flame of angst to burn brighter).

We come into the world with only two fears. They are the fear of falling and the fear of loud noises. The rest of what we learn of fear becomes a part of us that we obtain as we go through life.

It’s important to know what you fear because without knowing, you don’t know what to combat. Without knowing, you don’t know why you’re fearful. Without knowing, you don’t know if what you fear is real.

As you go throughout your daily activities, pay more attention to what at first appears to be angst, anxiety, an uncomfortable feeling, or whatever label you assign to the beginning of uneasiness. That will be the conscious point that fear begins to grip you. If you note when fear begins to grip you, you’ll have a greater chance of defeating it, before it has a greater chance of defeating you.

Here’s the point. Once you consciously recognize that fear has a hold on you, it’s already elevated from your subconsciousness to your consciousness. That means it was already living in your psyche like a virus waiting to potentially harm you. The sooner you recognize it, the sooner you can deal with it. The sooner you deal with it, the less severe it will be. The less severe it is, the better you’ll be able to control what occurs in your life … and everything will be right with the world.

What does this have to do with negotiations?

In a negotiation, fear is always at the heart of broken deals, impasses, and the impediment to a successful negotiation outcome. Sometimes, you’re right to be fearful. If that’s the case, you need to identify the source of those feelings. Even if it’s imaginary, there’s a problem because of the way you’re thinking.

In a negotiation, once you become fearful, take note and assess to what degree it will impede the negotiation. Based on its severity address it then, or put it to the side to possibly be addressed later. Don’t ignore it until and unless your sense the fear has abated.

What are you thinking? I’d really like to know. Reach me at Greg@TheMasterNegotiator.com

To receive Greg’s free 5-minute video on reading body language or to sign up for the “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.themasternegotiator.com/greg-williams/

Remember, you’re always negotiating.

#HowToNegotiateBetter #CSuite #TheMasterNegotiator #ControlEmotions #Psychology #Truth #Perception #fear

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Do You Know the Hidden Secrets of Good Negotiators?

“Good negotiators know negotiation secrets that allow them to be good. To become better when negotiating, learn the secrets that good negotiators know” -Greg Williams, The Master Negotiator & Body Language Expert

Good negotiators know a wide range of hidden negotiation secrets, when to use them, and which ones to use in their repertoire of secrets when negotiating. That’s one of the things that distinguishes good negotiators from not so good negotiators.

So, what are some of the hidden secrets that good negotiators use? The following are a few of those hidden secrets. Using them will give you an advantage in your negotiations.

Reading Body Language:

Being adept, when it comes to accurately reading the other negotiator’s body language, will give you insight into his train of thought, and an edge in the negotiation. As one example, if face-to-face, note the consistency with which his eyes move when assessing information to questions you pose. If you pose questions that he should have to call on by referencing past occurrences, note the direction he looks in to obtain that information. When that pattern breaks, note it, along with the question that caused it to occur. They’ll be insightful information that you can use in that action.

Know What’s Really Important:

If you’re attempting to successfully entice a venture capitalist to invest in your business, you should know the main question she has about the potential investment is, will I make a decent return on my money and how long might it take to do so? The question is important to keep in mind because it’ll be the answer to that question that will determine what motivates her and what it will take to keep her engaged with you.

Throughout any negotiation, know the main points that will keep a negotiator engaged and determine how you’re going to use that information throughout the negotiation.

Emotions/Hot-buttons:

Always attempt to control emotions when negotiating. Emotions add an extra dimension to what is said.

In controlling emotions, you should know the hot-buttons that will push you and the other negotiator from one point to another, per the state of mind you or he will possess once in that state; you should already be well aware of your own hot-buttons.

To gain insight into the other negotiator’s hot-buttons, gather information beforehand about what ticks him off, and what makes him experience bliss. Then, during the negotiation, take note of his reactions when you push his buttons. If he doesn’t react the way you know he’s reacted in the past, you’ll gain insight into what he may be attempting to keep disclosed. If that’s the case, pick at that thing like a bad itch that begs to be scratched.

Good Listening Skills:

Good listening skills encompass not just listening to what’s said, but also listening for what’s omitted, the word choice used, and the way such words are conveyed; we’ve all heard a statement that sounded like a question. Unless you intentionally mean to pose a statement as a question, don’t do it. Also, note when the other negotiator sends hidden meanings inside of his verbal messages; it may mean he’s unsure of what he’s saying, or that he wants you to believe he’s unsure. Probing will uncover his intent.

When momentum is on your side, accelerate the negotiation. When you’re on the defense, slow the negotiation down. It’s the little strategies that you utilize in a negotiation that will pay the biggest dividends. Thus, when negotiating, don’t take small things for granted. It’s the implementation of small things, such as what’s mentioned above, that will allow you to accomplish bigger outcomes in your negotiation. Master those things … and everything will be right with the world.

 

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 5-minute video on reading body language or to sign up for the “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.themasternegotiator.com/greg-williams/

Remember, you’re always negotiating.

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