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Take the 5 Step Attention Challenge

You think you’re paying attention – you’re not. We live in an attention deficit society. Technology distracts us. Social Media overwhelms us.  Daily to-do lists leave us feeling exhausted. We are constantly being asked to do more with less, to the point we have lost sight of what is important as we race each day to cross off another meaningless task or chore.

I believe in order to be influential in the world, and make a true impact on it; we must give our undivided attention to people and things that matter most in our lives. Instead, we are allowing those that are most important to compete with all of our daily distractions. It’s time to commit to change.

Attention isn’t a little thing. It’s everything. What you focus on grows. What you don’t, goes. When you decide what gets your attention, that becomes your future. I challenge you to start turning your life into one of attention abundance instead of distractions in five steps. Are you up for the challenge? It won’t be easy. It will bring to light the aspects in your life that are worthy of your focus, your time and your undivided attention.

Step 1: Identify What Matters Most

Grab a piece of paper and write down three priorities that come to mind at home, at work and in your community. Perhaps it’s the name of people, or high-profile goals. Maybe it’s a charitable cause or public service. Either way, be specific in each of the three categories and limit yourself to no more than three priorities for each. This step is going to help you identify what matters most to you, the core of you. These are the priorities that get you out of bed each morning, and give you a sense of purpose. When we attempt to define too many priorities, we dilute the meaning of those that matter most.

Step 2: Be Accountable to the Calendar

With your limited priority list now identified, it’s time to get selective with your calendar of commitments. We only get 365 days each year to reach our goals and objectives. That’s a pretty tight calendar budget if it’s not managed wisely. Consider this, if you only had $365 dollars in the bank and were forced to choose between food and jewelry – you’d choose food, right? That’s easy. So why do we think of the days in a year any differently? We are all working from the same limited budget of days, yet some are too quick to spend their days on what doesn’t matter. It’s time to be accountable to our calendar.

First, go through your work calendar and identify two meetings this week that are not necessary. If you feel the objective of the meeting can be accomplished in a simple phone call or email, choose those options instead. If you have the meetings scheduled merely out of routine and habit, they aren’t needed. If you are attending meetings and feel they are not a valuable use of your time, decline them.

Second, for those meetings you choose to keep on your work calendar, email the host and request an agenda. Take a few moments to be certain your time will be respected and used wisely. If you are the host, give respects to the attendees by creating an agenda that you commit to using and sticking to. If you want others to respect your time, you must first start by respecting theirs.

Third, at home, review your personal commitments and obligations. Have you accepted a dinner invite you didn’t really desire to attend? Perhaps you have requests for lunch, parties and gatherings that you aren’t certain how you’ll fit into your already tight calendar of events. If any of these scenarios sound familiar, it’s time to employ the power of one simple word: “No.” That’s right, “no.” “No” is a complete sentence and doesn’t require explanation. Your time is your time, and only is gifted to others when their requests of it fall in line with the priorities you listed in step one. When you say “no” to some, you’re saying “yes” to whom and what matters most. Consider this – if there is a dinner invitation you’ve received that you’re not thrilled to attend, and you would rather stay home and watch a movie with your family, who is going to benefit the most from you saying “yes” to the dinner invite? You? Your family? No – the person with the invitation is the one that benefits. If they are not in your list of priorities, then you are allowing them to take time away from those truly deserving of your time.

Step 3: Be Accountable to the Clock

There are only 1,440 minutes in each day. Considering we sleep approximately 440 of those, we are left with only 1,000 minutes to accomplish what truly needs to be done each day. We are all gifted with the same amount of time in a day; how we choose to use it and prioritize it is solely up to us.

Have you ever stopped to consider the amount of time you spend each day on social media? What about watching television? How about checking email? Now, consider how much time you spend building relationships with family, friends, colleagues and clients? Who is winning your attention and what is stealing your time.

I want you to consider your day in 15 minute increments. Discipline yourself to limiting time on non-essential tasks for 15 minutes only. Dedicate at least 15 minutes of time to those that haven’t been getting it.

First, upon waking in the morning, take 15 minutes to check social media and read the news – then log off. Do not give into temptation to check it again until your next scheduled 15 minute window – either later that night or the next morning. Utilize apps that block alerts and notifications on your phone to avoid distractions they cause.

Second, review your daily calendar and challenge yourself and your team to cut back meetings to 15 minutes only. Require agendas and don’t permit devices that cause distractions. When you limit meetings to 15 minutes, you’ll reach agreements more quickly and be less likely to get lost on non-related topics.

Third, schedule 3 – 15 minutes increments time for checking email throughout your workday. When your 15 minutes is up, turn off your email and turn your attention to accomplishing projects, tasks and priorities. Move away from allowing email to run your day and dictate how your time is to be spent. Emails are just another person’s request for your time to do what they need to accomplish their tasks.

Fourth, dedicate 15 minutes each night to having one-on-one conversations with each person in your household. Give them a minimum of 15 minutes of your time without technology, tv or distractions. You’d be surprised how your relationships grow when you invest your undivided attention into them.

Fifth, allow yourself 15 minutes each day for decompression and quiet time. Give your body and your mind an opportunity to quiet and rest. Go for a walk. Take a hot bath. Get a stretch. Meditate. Either way, permit your mind to quiet down so it has an opportunity to recharge for the following day.

Step 4: Put Technology in its Place

By silencing distractions, such as smartphones, people begin to excel at their jobs, relationships and tasks. A cell phone is a crutch. It fools us into believing everything is an emergency, even when the situation is far from it. When people let go of the need to connect, they get better at sleeping, they come to work refreshed, they learn to trust their instincts, and they begin to rely on their skills and knowledge. In short, they become better leaders, better middle managers, and better employees. They also become better spouses, better parents and their quality of life grows.

First, use your Do Not Disturb function on your phone. Schedule it to turn on from 8pm to 8am each morning. This will ensure time each night is spent focused and dedicated on your personal well-being. In this time period, you can exercise, spend time in uninterrupted conversation with friends and family, sleeping and resting up for a more productive day following.

Second, do not permit technology in meetings. If you are hosting a meeting, make it known on the invite and in the agenda that your meeting is a no-phone zone. If you’re going to be cutting down meetings to 15-minute increments, every minute requires each participant’s undivided attention.

Third, make your dinner table a no-phone zone. If you are out to dinner with friends, make a deal that the first person to look at their phone has to buy dinner. If you are at dinner with your family, put all devices away and keep them off the table. Use that time to make genuine connections with those you are dining with.

Fourth, use smartphone apps to silence your phone throughout the day when you are otherwise committed to scheduled activities such as checking email, focusing on projects or accomplishing tasks. You will maximize your productivity when you keep your focus exclusively on one task as a time instead of allowing yourself to be distracted every few minutes.

Step 5: Gift Your Time

Our society depends on each of us to give the gift of our time to charitable causes and be purposeful in how we contribute to our community. Choose how you will contribute to causes that matter to you and your community. Be intentional in scheduling time to volunteer, donate and help others. Reflect back on Step 1 and what you listed as your priorities. Decide how you will contribute to aiding those causes and make the commitment to follow through.

Remember, Attention isn’t a little thing. It’s everything. What you focus on grows. What you don’t, goes. Decide what gets your attention, and allow that to become your future. Are you up to the challenge?

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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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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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Don’t Believe Distractions Cost? Think Again!

Did you know it takes, on average, 23 minutes to refocus your mental effort and energy on a task after being interrupted?

Have you ever considered how many times you’re interrupted in a day?

We all know interruptions hamper productivity and make trying to accomplish even the smallest of tasks frustrating, and seemingly endless.  Consider this – If you spend a total of 5 minutes, five times per day responding to text messages and reading social media, you’ve spent (maybe wasted!) 25 minutes of work time. Even still, when you consider it takes our brains 23 minutes to refocus on our tasks at hand for each interruption, you start to see those 5 simple tasks actually cost you almost 2.5 hours in lost concentrated focus and productivity.  How do I know this? Because I have been guilty of this too.

You see, a distraction costs more time than just the activity. It costs us mental space and time to refocus afterward.  This realization helps me to focus when I get off track.

A study was performed by info-tech researcher Basex and found distractions cost U.S. companies $588 billion per year in lost productivity. Imagine how much of that money could have been saved if employees were able to avoid distractions and stop interruptions.

Crazier still, a researcher of digital distraction at the University of California, Irvine found approximately 50% of the distractions were self-induced! Our curiosity to know what was going on in the world on the news, social media, emails, or other people’s lives are creating our productivity demise.

Attention is Key! Attention is vital. A few steps toward mindfulness can help you save time and boost productivity:

1. Count your interruptions. For two days, keep a running list of the distraction types and the number of times is occurs (you will be shocked!). Start proactively finding solutions to stop the self-induced time killers.

2. Master your schedule. Choose brief, 15 minute increments, within your calendar that permit you to take a break, respond to others and allow your mind the downtime it deserves (and craves).

3. Utilize technology to save you from technology. Use apps on smartphones to silence distractions. Better yet, turn them off or use the Do Not Disturb feature until a time you’ve chosen to take a scheduled recovery break. I love the Freedom App.

4. Prohibit devices. Create a no-phone policy for some meetings and important conversations.

5. Schedule. Schedule. Implement tools that manage your time spent online, such as the Freedom App.

6. Do Not Disturb. Allow employees to create Do Not Disturb work times on their calendar where they can truly unplug from email, visitors and disruptions.

7. Go public. Get accountability. We have conditioned ourselves to be available to others all day and every day. Stop. Send messages to your friends, family and colleagues sharing your commitment to productivity. Explain your new schedule has time allocated to respond to their needs. Reset their expectations for your return phone calls, text messages and mid-day visits.

8. Unplug from social media. Consider taking a social media detox to help clear your head of the need to be plugged in. If that seems too radical, consider establishing one or two 15 minute periods of time in the early morning or evening that allow you to log on and play.

9. Choose one day per week. We all want to personally check in with coworkers and establish relationships with our peers. So do it! Only, limit it to one day per week. For instance, Wednesdays allow you find out how their weekend was and hear about their upcoming plans.

10. Weekends are for fun. When you make focus and attention a priority during the workday, make fun and relaxation a priority on the weekend. This will give you the time needed to recalibrate and rest, which will improve your attention and focus throughout the week.

With a few changes and a commitment to focus, your productivity will soar as will the results of those efforts. When you choose to become the Attention Ambassador in your workplace, others will begin to see Attention Pays.

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Don’t Play With Your Emotions

“Exerting greater control over your emotions will allow you to exercise greater control of your life.” -Greg Williams, The Master Negotiator & Body Language Expert

 When you engage in life, don’t play with your emotions. Anytime you’re unsure of which path you should take, don’t play with your emotions. That doesn’t mean that you should consider options devoid of your emotions, it means, attempt to think of your options without the emotional attachment that might saddle itself to those options.

By eliminating the emotional aspect that might go into your decision-making process, you allow your thought process to be driven by logic. After you’ve assessed a situation from a purely logical perspective, you can test your sense of direction by considering the emotions that might be the co-pilot of your decision.

Sometimes people allow their emotions to lead their actions. They toss logic aside. Allowing your actions to be driven by emotions alone can lead you into dangerous situations; “I don’t know why I did it; I must have been temporarily insane.” Those may be the afterthoughts you have if you don’t control your emotions before delving into a situation.

To maintain greater control of your life and those that surround you, always seek to control your emotions. Don’t play with them! Once you learn to have greater control of your emotions, you’ll have greater control of the environments you engage in. You’ll also find that your emotions serve you better. So, always seek to keep your emotions in check … and everything will be right with the world.

What does this have to do with negotiations?

In every negotiation (you’re always negotiating), emotions dictate how you’ll engage in the negotiation. Thus, your emotions will drive your actions if you don’t curb them. It may not be very easy to control your emotions at times when negotiating, but if the opposing negotiator senses that he can control you by controlling your emotions, he’ll play you like a drum. You’ll dance to any tune he decides to play.

Before entering into a negotiation, know the hot points that may cause you to lose control of your emotions; your hot points are also called triggers. Being aware of the triggers that may provoke different emotional reactions in you, allows you to prepare the demeanor you wish to display, versus one that would hijack your real-time display of emotions. Such displays can cause you to lose control of the negotiation. By not displaying a demeanor the other negotiator expected, you’ll initiate doubt within him about the strategy he’s employing in invoking such triggers to maneuver you.

Suffice it to say, controlling your emotions allows you to have greater control of yourself and the other negotiator, and everyone knows, he who controls the negotiation has a greater chance of controlling the outcome of the negotiation.

 

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

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How to Use Reverse Questioning to Win More Negotiations

“The degree of success you experience in life and in negotiations is based to a degree on asking the right questions successfully.” -Greg Williams, The Master Negotiator & Body Language Expert

You no doubt know what reverse engineering is, right? Reverse questioning in a negotiation is the process of identifying the questions you need to ask in order to obtain the answers that will lead to a successful negotiation outcome. It’s also a way to identify how you’ll control the flow of the negotiation.

As a quick example, if you wanted to exit a negotiation paying $1,000 for a product you’d work from the outcome sought back to the beginning of the negotiation; you might also consider working back from that point to how you would position yourself prior to entering into the negotiation. To perform the latter, you’d assess the requirements needed (i.e. how you’d position yourself) to have your persona projected in a certain light/manner.

The following is what the step-by-step process would look like.

  1. Identify the most and least favorable outcome you’ll seek from the negotiation, along with why you’ve identified those points of juxtaposition. As a benefit, having that insight will help you identify exit points from the negotiation.
  2. Assemble a list of questions that might be asked of you as you would go through the negotiation.
  3. Create answers to the questions posed in step 2 that are needed to drive your efforts towards a winning negotiation outcome, while formulating questions you’ll ask to keep the negotiation on track; these will be your defensive questions. Identify points where you can answer a question with a question; remember, the person asking the questions is the person controlling the negotiation. That’s due to the fact, that person is gaining more information.
  4. Once you create and address step 3, create a list of questions that you might ask of the other negotiator that’s separate from the ones you might use to respond to his questions; these will become your offensive questions. Offensive questions are questions that move your negotiation efforts quicker towards the end of the negotiation; they are questions that the other negotiator has to agree with because they’re based on what he’s previously stated as his beliefs or truths; you’ll be weaponizing his thoughts and questions against him. Some of these questions will also come in the form of questions that answer questions.
  5. Assess how the opposing negotiator might respond to your scenario.
  6. Continue going over steps 1 through 5, in an attempt to uncover additional questions that you’d not considered that need to be included in the process.
  7. Once you feel you’ve honed the questions to a point that the other negotiator has to follow a prescribed path that you’ve created for the negotiation, test your hypothesis in a mock negotiation. This will allow your questioning process to become more refined and may uncover better/additional questions.
  8. Once you feel totally prepared to utilize your questions in a negotiation, do so. Engage with the confidence in knowing that you’ve created a stealthy way of capturing better information as you go throughout the negotiation.
  9. Save your questions in a repository to be used for comparison to past and future negotiation situations.

 

The wrong question asked at the right time in a negotiation may do incalculable harm. The wrong question asked at the wrong time in a negotiation may lead to a negotiation impasse. Create and test your questions before entering into a negotiation and you’ll have more of a chance to reach a successful negotiation outcome … 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 #Bully #Question

#psychology

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Don’t Hurt the Leader’s Position

“A leader is someone that possesses the ability to successfully lead others from the front or the rear. Always know the position of your leader.” -Greg Williams, The Master Negotiator & Body Language Expert

When someone is serving as the leader of your team and you’ve agreed to give them your support, follow their lead; don’t hurt them or your team by engaging in intended or unintended subterfuge.

In the daily activities of everyone’s life, everyone follows someone. Thus, those that you follow have influence by the fact that you anoint them as someone to lead you. You embolden them with that privilege by the fact that you follow their edict/mandate/suggestions. That being the case, don’t undermine the leader by:

  1. Going off-point per a strategy that has been discussed and agreed upon (e.g. going around the leader to gain attention for yourself, etc.)

 

  1. Engaging with outside sources that have not been agreed upon – make sure the leader knows what you’re planning to do

 

  1. Creating ad-hoc strategies when you’re in the midst of interactions with those that are not on your team/group

When you subvert the direction of the lead that you’ve granted to someone, you forgo potential opportunities, and diminish your team’s ability to implement the plan that’s been agreed upon; that can be costly in time and opportunities. You may also be cloaking into darkness the light of opportunities that may have shown themselves to you in the future (i.e. if you prove not to be a team player, no one will want you on their team.)

If you’re going to be a team player, play follow the leader by supporting the person that you’ve chosen to follow. Do so to the degree that such returns are beneficial to you and the team. Once you decide that you no longer wish to engage, inform the leader of your intent and disengage. Don’t just drop out without any communication. If you restrict the flow of communications, you don’t know what potential door(s) you’ll close that might have offered opportunities that could lead you to higher heights.

As long as you’ve decided to follow the leader, don’t hurt her. You’ve made a conscious decision to allow her to lead. So, follow her lead as long as it serves you and her … and everything will be right with the world.

What does this have to do with negotiations?

In a team negotiation environment, the leader of the team can position and pose as any of its members; it doesn’t have to be the person that projects the image of a leader at the negotiation table. Depending on the strategy chosen by the team, the leader may pose as someone that’s in a strategic position for a particular negotiation. He may also be positioned as someone that a senior person on the team can replace once the negotiation has reached a certain point.

The point is, once you have a strategy in place, don’t undermine it by undermining the person that’s the lead for the negotiation. Not only will you be weakening her, you’ll also be weakening your team’s negotiation position and the perspective beneficial outcome of the negotiation for all of you.

 

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 #Leadership

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7 Questions You Can Ask That Will Make You a Better Negotiator

Questions form the foundation for the exchange of information in a negotiation. To the degree you ask better questions, you’ll achieve greater negotiation outcomes. The following are 7 questions you can ask that will make you a better negotiator, and enhance the probability of your negotiation outcomes.

  1. Did you hear what you just said?

This question can be used to draw attention to a point that you wish to highlight. It can also serve as a distraction away from a point that doesn’t serve you.

  1. What’s the best outcome you’d like to see us reach?

This question gets at the heart of what the other negotiator would like   to see as a ‘best outcome’ situation, which gives you insight into his thought process.

  1. What’s most important to you in this negotiation?

Similar to question number 2, you’ll gain insight into the thought process of the other negotiator, which will give you a glimpse of how to negotiate with her. You’ll also get an idea of her priorities.

  1. What concerns do you have about this negotiation, this point, etc.?

This serves as a way to probe deeper into the mindset of the opposing negotiator per what he fears the most about the outcome of the negotiation. Observe his body language. If he says he doesn’t   have any concerns. Note if he sits back or leans forward as he’s speaking. If he leans forward, he’s more likely not to be concerned at that time. If he leans away, that could indicate he does have concerns, he might not want to share them with you at that time.

  1. What can we do to get past this impasse?

By getting his perspective, you gain a sense of how you might unravel the impasse. If you can adopt his suggestions, to the degree they serve you, you’ll be granting him the outcome he wants. That means he’ll buy into it. Remind him that you’re following his suggestions if he balks later.

  1. Why is that so important?

First, be observant of your tone when posing this question. Your tonality might be perceived as the matter being trivial. If it possesses true value to her, you don’t want to give the impression that it’s not a big deal, especially if it is to you. By doing so, she could say, okay, then give it to me. That would leave you in a weakened position.

  1. What can I do to make things right?

Be very cautious when asking this question. You don’t want to open the floodgates by allowing the other  negotiator to ask for the moon and you not be able to grant the request. On the opposing side, once again, you get a sense of what it might take to make it better, which means you can choose to grant some or none of the requests.

As you can see, the questions you pose during a negotiation set the tone and pace of the negotiation. The questions above can be strategically used during a negotiation to direct or redirect the negotiation in a particular direction that serves your purpose. To do so, use the questions in the order that are best suited for your purpose based on when a particular question is needed. If you do this masterfully, you’ll leave the negotiation with more gains than you otherwise might have had … and everything will be right with the world.

 

Remember, you’re always negotiating!

 

 

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Industries Leadership Marketing Personal Development

Good Tipper or Scrooge – What Are You?

 

Some people love to tip and others don’t. However, it appears that, nowadays, everyone is expecting a tip even if they are just serving you at the checkout!

When you see a tip jar by the cash register what do you think? To me, the tip jar says “I deserve a tip”. But it says quite a bit more, too, and none of it good about your Customer Experience.

When ordering at a cash register, we Brits tend to feel a tip is not necessary as we offer gratuity when waited on at a table. However, I also recognize that when I am in the states, tipping rules are different.

The tip jar is there nonetheless. Now, as a customer, I must decide. Tip now, even though it’s not a situation where I would perceive a tip to be necessary, or ignore it and risk appearing rude to the person making my taco/latte/sandwich.

Say I go ahead and tip. How much do I tip? The loose change I get back from the cashier? A couple of dollars?  20% of my entire check? What is customary for the tip jar next to the cash register?

Let’s say I do tip, but then have a terribly long wait getting my taco/latte/sandwich. Or it comes cold. Or wrong. Do I get to fish my tip back out of the jar?

The presence of a tip jar reflects poorly on the Customer Experience. Whether it’s feeling unsure if you should tip, experiencing guilt because you didn’t, wondering how much to tip or wishing you hadn’t tipped at all, these situations do not enhance the Customer Experience.

The Origins and Customs of Tipping

There is some dissension about where tipping originated. One argument is that it originated in 17th Century England taverns where customers would give their server extra money “to insure promptitude” or T.I.P. Wikipedia asserts it began when English houseguests left money for the host’s servants.

Wherever it started, it didn’t make it to the U.S. until after the Civil War. The Washington Post submits tipping began because employers hired freed slaves to serve food but didn’t want to pay them an hourly wage. Over time, tipping became the norm for several industries, from hotel workers, to delivery employees, and your favorite coffee baristas.

Tips and the amount of them is subject to the country and social customs thereof. In the States, tipping is customary, ranging from 10% to 20% in most cases. In the UK, it isn’t, or at least not with same amount of expectation, which is also true in many European countries.

It’s different because of the compensation workers receive in the different countries. Many employees in the U.S. make less than the federal minimum wage because their tips are meant to make up the difference. In many states, these employees might make little more than $2 an hour in employer-paid wages. In the UK, however, employers must pay employees the minimum wage, which ranges from £7.20 to £9.40 ($8.99 to $11.74 currently), depending on the city where the worker lives.

Because UK workers make the “living wage”, there is less tipping. While there are still situations where a tip is given in the UK, there is not the same culture for tipping there that exists in the states. There are numerous situations where tips are neither given nor expected.

What a Tip Jar Says about Your Brand

Entrepreneur detailed all the ways the tip jar hurts your brand. First and foremost, a tip jar says you don’t pay your employees enough. A tip jar also make your establishment look cheap, which is never a goal of a brand. Affordable? Yes. Cheap? No. To my point, Entrepreneur asserts that tip jars are also misplaced because customers are “asked” to tip before they receive the service. Moreover, it confuses people that lack a shared cultural background.

Co-author Professor Ryan Hamilton and I present a related concept in our latest book, The Intuitive Customer: 7 imperatives for moving your Customer Experience to the next level (Palgrave Macmillan, 2016). One of our imperatives is to “accept that apparently irrelevant aspects of your Customer Experience are sometimes the most important aspects.” To summarize, this concept addresses the fact that when things get ambiguous or difficult to evaluate, customers might use high-level impressions of a brand to judge their experience. Expectations play a big role in these evaluations, and these expectations are set by your brand promise.

When a tip jar is present, it also creates an expectation. If you don’t live up to the customers’ expectations, your brand suffers for it. For small businesses, these small things can add up to big problems.

They are everywhere these days. They have weaseled their way into the most unlikely of places, quite brazenly if you ask me.

Enough is enough, as they say. Well, I have had enough with the omnipresent tip jar at the register of various establishments. If you have one sitting there now in your business, you should have enough, too, because it’s not doing anything good for your Customer Experience.

If you liked this article, you might also enjoy these:

Revolutionary Thinking on Customer Loyalty

Astonishing BIG Gains from Little Changes!

Act Now to Turn Customer Pain Points into Pleasurable Profits

Colin Shaw is the founder and CEO of Beyond Philosophy, one of the world’s leading Customer experience consultancy & training organizations. Colin is an international author of five bestselling books and an engaging keynote speaker.

Follow Colin Shaw on Twitter @ColinShaw_CX

Sources:

Roth, Carol. “Small Businesses That Encourage Tipping Are Killing Their Brand.” www.entrepreneur.com. 16 January 2017 Web. 30 January 2017. https://www.entrepreneur.com/article/287793.

“Service 101: A Brief History of Tipping.” www.foodwoolf.com. Web. 30 January 2017. < http://www.foodwoolf.com/2010/08/history-of-tipping.html>.

Ferdman, Roberto A. “I dare you to read this and still feel good about tipping.” www.washingtonpost.com. 18 February 2016.

Web. 30 January 2017. https://www.washingtonpost.com/news/wonk/wp/2016/02/18/i-dare-you-to-read-this-and-still-feel-ok-about-tipping-in-the-united-states/?utm_term=.c4cc5b94ac1c

“Gratuity.” www.wikipedia.org. Web. 30 January 2017. <https://en.wikipedia.org/wiki/Gratuity>.

“United Kingdom: Tipping & Etiquette.” www.tripadvisor.co.uk. Web. 30 January 2017. https://www.tripadvisor.co.uk/Travel-g186216-s606/United-Kingdom:Tipping.And.Etiquette.html. 

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Best Practices Entrepreneurship Industries Management Marketing Skills Women In Business

Power Speaking Skills:  Strategies to Increase Harmony in Conversation, Part 1: Tone of Voice:

In this video, Maria tells you how to increase harmony in challenging business conversations by monitoring and modifying your tone of voice.

The Successful Speaker, Inc. video series provides speaking strategies that will help you enhance your credibility and leadership presence during meetings, sales presentations, conversations with senior management, networking events, and even by phone.

The video series addresses every aspect of successful speaking, including how to sound authoritative, speak with credibility, master active listening, and engage your listeners. The videos also provide speaking strategies rooted in theatrical performance, providing tips on how to build belief and captivate your business listeners.