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Category: Personal Development

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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 Personal Development Women In Business

Turning “Failure” Into a Learning Lesson

A few years ago, I had to deal with an opportunity that went awry in my business. It was disappointing, frustrating and complicated, to say the least. As I was going through it, I questioned my own ability to make clear decisions. I wondered how I missed some of the signs that perhaps others had seen. I spent too much time replaying every little detail. And I kept asking myself the question: Was I a failure?

Here’s the thing, I was working on a project that I so was extremely passionate and excited about that I allowed myself to be blinded by the questionable factors that were happening at the same time. I brushed it off, continued to do the work and, mind you, be successful in the process. I continued to forge on until I had to face the reality that the project was not going to find completion.

As a life coach, my job is to make sure my clients are reaching their goals in a positive and growth-filled way. I want to make sure any project I work on is going to be impactful to my audience. My message is clear — you can have the life of your dreams if you do the work and find optimism in your journey. Once I realized that for my now defunct project, I no longer felt like I had failed. I needed to find the learning lesson in my experience. I teach this to my clients every day; it was time I listened to my own advice.

Overcoming a “failure” (not a word I particularly like), isn’t easy. Here are a few steps to help you along in your process:

1. Acknowledge your “failure.” Allow yourself to say yes; give yourself the grace to recognize that your situation happened to you. This could be a difficult pill to swallow. You’re going to get questions from outsiders asking about details of your experience. It’s your choice about how much information to share. Always be honest with your responses, and be careful with oversharing.

2. Accept it. Moving through a failed situation is like moving through the grief process. There are a few stages: shock, anger, guilt and reflection followed by the upturn of rebuilding through it. You have to be able to step back and be okay with your experience in the end. Give yourself a few minutes a day to work through it, start with the bad thoughts, continue through the learning pieces and end with positive affirmations. I use this exercise with my clients and it helps tremendously.

3. Look for the positive lesson. What did you learn from your experience? What would you change or do differently? In my case, I had the opportunity to meet and network with some amazing new people with whom I will continue to cultivate relationships. I learned to be better at vetting business partners. I learned that regardless of this particular outcome, my passion for collaborating and creating will continue.

Often we see failure as a bad thing. But if we turn it around and find the learning experience in it, the situation can become a little easier to bear. I try to learn from all of my experiences, good or bad. That allows me to continue to grow and educate myself both personally and professionally.

Don’t beat yourself up too much. None of us are perfect, we all make mistakes. The most important thing is that we learn from them all.

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Culture Growth Leadership Personal Development

The New Generation of Casual Dress in the Workplace

Take a look into any office today and there will be a noticeable difference in how employees are dressed compared to past decades. Dress code policies in companies today are, without a question, more casual as younger generations enter the workforce. This adds an element of having more leniency, which has been raising a lot of questions for business professionals, as well as those trying to navigate what is and is not appropriate in their workplace.

In the late 1900s, it was unacceptable to show up to work in anything besides a complete suit, ironed to perfection. For women, a business pantsuit or tailored dress with little to no color was the usual. More informal dress began as “casual Fridays” which was seen as a benefit for employees but also built moral between every employee in the office.

Today, we see companies like Google, who claims they have no dress code at all, and employees are free to wear sweatpants if they choose to do so. Many other big companies including Apple and Facebook, have made the switch to a casual dress code. This can include business casual, or even jeans and a generic shirt. Even Wall Street has made the switch to a more casual policy, one that would have never been acceptable in years prior. As technology continues to grow and change the way companies do business, it makes sense to be able to loosen up on the demands of everyday attire. So, what does this mean for our new generations entering the workforce? Are the dress code changes leading to a more lenient and lackadaisical work effort? As a business owner, it is important to assess and decide what type of dress code is effective for your company.

Will allowing employees to wear casual outfits hinder their performance and make them lazier? The opinions of this topic vary greatly and by generation.

There is a common belief that dressing up professionally puts employees into a working and proactive mindset. “You look good, you feel good” is a common phrase that explains that you will perform better and have a better work ethic when you are dressed to impress. Some professionals believe that what kind of work you are doing, depends as well. Assistant professor at Columbia Business School and Author of “The Cognitive Consequences of Formal Clothing” state that casual clothing makes workers think less abstractly and more concretely, useful for completing tasks focusing on details such as writing code or planning a product launch. He says that with a formal dress, workers feel more powerful and ready to tackle higher-level abstract thinking. When thinking of the bigger picture, dressing formally will increase productivity. The new generation has a different approach.

Millennials have grown up seeing Mark Zuckerberg, CEO of Facebook, in a casual t-shirt and jeans and believe this does in no way define your productivity or success. When asking some students at the Business Management building at the University at Buffalo, the overall consensus was that being comfortable leads to being more productive. Students say that when they are not in a stuffy suit, especially in the hot summer, they are more relaxed and can focus on their goals for work. For the women students at UB, comfortable shoe wear is key. “When I wasn’t forced to wear high heels that hurt my feet, I could focus so much better on the presentation I was giving and not how I looked and felt.”

Another benefit of casual dress in the work environment is that employees report that they feel like an important asset within their company. They feel that everyone in their office is a team and that they are not just a level in the hierarchy of their organization. This can lead to removing communication barriers between employees and higher managers within offices. Removing these barriers allows for a better flow of ideas, and can improve attitudes and performance. All these can positively affect the productivity and success of an organization.

On the flip side, casual policies may potentially have a negative effect on the performance of employees. If employees have a more relaxed mindset and laid-back attitude, this could hinder their motivation to complete projects and reach goals within their position. In strict work environments, serious attitudes are crucial in getting work done. There can also be negative effects, depending on the environment you work in. A family friend who I spoke to about this topic works as a funeral director. His opinion was that he feels he needs to always be dressed completely professional at all times. He works with clients and families going through a hard time on an everyday basis. To him and his other employees, proper dress code, including a suit and tie is required. If the dress code was different at his company, his business would be affected negatively. Generally, when working in an industry where you will be meeting with professionals or clients often, professional attire should be necessary. If you are mostly working online, or in an office, where you rarely work with clients or the general public, there can be less restrictions on how you dress.

There are many different opinions to the conversation of whether Millennials are becoming too casual, or if this is a new outlook that can lead to a better work environment for the next generations. It is important to access your clientele, audience and decide how conservative your company is. Decide on what company culture goals are for your brand and for your employees as well. Do employees want to not be distracted by uncomfortable clothing and can work diligently in casual attire? Or do they believe that dressing to impress is a good mentality where they need to look polished and professional at all times? Dress code defines your brand and message to your audience, and it is important to choose wisely what message you want to portray. Once you have reached this decision, it can positively impact your company and its long- term success!

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Best Practices Growth Leadership Personal Development

Making Decisions Outside Your Comfort Zone

Business leaders must become aware of their cognitive biases in how they make and execute on their decisions. These decisions can affect their teams, the growth of their organizations, and the future potential gains, and losses, that the business receives.

Loss aversion is the cognitive bias where people naturally lose a more significant amount of satisfaction from a loss than they receive from a similarly valued gain. This bias manifests in two distinct patterns, in anticipation, and in framing a particular loss or gain.

Anticipation can become a crucial component of this bias, and affect decision makers based on how they have experienced gains or losses in the past. Decision-makers who have historically faced a weighty loss may become more hesitant to enter similar situations. This hesitation can lead to lost opportunities or undue delay in moving forward on projects. For example, hiring managers who have felt that a number of their poor hires have come from a particular generation may be hesitant in hiring similar candidates. Just the same, those decision-makers who have beaten the odds in the past may have a skewed sense of their success and take more significant risks in the future. Every financial prospectus explains this flawlessly, “Past performance is no guarantee of future results.”

Framing the risk, and explaining the loss in different terms may also affect how decision-makers approach a solution. Objectively, gaining a discount or avoiding a surcharge is the same. However, both situations elicit different emotional responses. Based on their past deals, and how they approach situations, this opt-in versus opt-out can skew behavior and allow for poor decision making towards critical business matters. Managers who are facing cutting expenses from a budget may overlook opportunities to raise revenue because their focus is only on the expense column.

Ultimately business leaders must remain objective in their decisions.

Extensive subjectivity or emotional involvement in the subject matter can allow for leaders to become irrational and not make the best decisions with the data and information present. Business leaders must be able to look past the data and see it in context. One data point, however it may be framed, is still a single data point. The more considerable power of data is in being able to view it in context, either to other similar points, or trends over time.
Similarly, managers must be able to see the upside of choices and understand that the most significant gains lie in the outliers. If all of our decisions must be satisfied within six standard deviations, then it will become impossible to progress and make the necessary leaps for remaining competitive in today’s dynamic market environment.

Every day business leaders are forced to expand their comfort zones. Remaining knowledgeable on this common cognitive bias can help ensure that they are making the best decisions in leaving their safe space and exploring how they can expand, especially in incremental ways.

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Best Practices Sales Skills

You Need Both: Sales Process AND Sales Methodology

In the sales performance space, there are those who think sales process and methodology are the same thing, and those who realize they’re different. If you couldn’t tell which side of the debate I’m on, they’re different, and do different jobs.

Some of the confusion is that both are kinds of process, although methodology isn’t always as predictably sequential.

Process:  Selling Activities.

The term selling process refers to the actions a selling organization takes along its selling journey. These steps might include (but might not be limited to):

  • Prospecting
  • Qualifying
  • Needs Analysis
  • Demonstration
  • Proposal
  • Negotiation
  • Close and Implementation.

When these are detailed sufficiently, people throughout the selling organization know what deliverables they need to support the process at what times, what documentation is expected, what resources are typically required, and much more.  Process grows into a “playbook”.

Notice that these are seller-centric activities.  Once your company builds its sales process, this are a great way to track an opportunity pursuit through your funnel or pipeline.

Today’s CRMs are mostly built around processes.  They usually come with a generic process provided, and one of the first thing a company needs to do is define their process in that CRM.  Manager dashboards will also be boilerplate at first.  It’s commonplace to track selling activities like calls made, emails sent, lunches bought, demos scheduled, and more.  Once you have management reports and analytics defined and refined, sales managers can track a lot of activities really efficiently.

There is one thing missing from sales process:  the customer’s buying process.  Tracking only selling activity fulfills the great promise of  CRM when:

  • All customers buy the same way
  • Every customers is equally engaged
  • All customers have the same needs
  • Customers respond equally to the same “value messages” (a term I really disrespect.I’ve blogged on this before, and am likely to do so again in the near future).

Every sales professional knows what doesn’t happen when they keep churning through a sales process while a customer has not progressed through a buying process.  Methodology solves for that.

Methodology: Selling Behaviors (which engage a buying process.)

Sales methodology consists of trainable, coachable, trackable selling behaviors that engage a customer in a buying process.

It’s easy to measure process, like number of telephone dials (especially with CRM/phone system integration). Measuring number of quality conversations is hard.  Don’t do either in isolation.

Ironically, I hear sales leaders tell anyone who will listen that they need to measure quality and not quantity…while looking at sales process analytics.  The reason that they’re achieving the results they may be because they’re measuring activity.

Methodology…behaviors…keeps the sales process aligned with the buying process.  Methodology behaviors might look like (but might not be limited to):

  • Understand the buying process being used
  • Understand all of the buying personas.
  • Planning and executing meeting plans to uncover all needs, all desired outcomes, and the value of all of those outcomes to the various personas.
  • Building a case for change, including adding personas where your value warrants.
  • Cultivating internal support for a proposal.
  • Aligning demonstration, then proposal points to persona outcomes.
  • Building the value case
  • Facilitating any customer change management, and setting implementation up for success.

Because every customer buys differently, methodology tends to be less rigidly sequential.  The customer buy process drives methodology, but should generally track with a well-designed (that is, customer-centric) selling process.  For example, change management appears prominently near the end of a sales process, but methodology should have uncovered individual persona outcomes and developed supporters of the change all through a pursuit.

Process vs. Methodology:

 First, I should point out that by “vs.” above, I don’t mean that there is an either/or choice.  You need both.  The “vs.” is because I want to contrast the two to show why you need both.

Process vs Methodology Table

Process organizes and orchestrates the complex web of selling organization activity around selling and delivering the company’s offer.  Methodology organizes the selling organization’s effort to facilitate a customer buying decision.

Sales process is measured by activities, which can be measured by any current CRM system I’ve ever heard of.  Methodology is about selling behaviors; only a few exceptional CRMs track behaviors, although most can be modified to do so.

Sales process, as simple activities, can generally be learned and mastered via a straightforward “knowledge transfer” class of training.  Methodology involves behavior change, and requires some element of coaching to lock in behavior change.

Process adoption and compliance results in selling efficiency, whereas methodology focuses on building customer-perceived value of your offer.  Great methodology drives customer value, which makes selling more effective. Efficiency and effectiveness can both drive up sales, but in different ways.  Efficiency might mean churning more prospects through a low close-ratio process each month.  Effectiveness could mean increasing the close ratio.  They aren’t mutually exclusive. They are synergistic.

Don’t Confuse the Two.  Don’t Limit Yourself to Either/Or.

I hope that you found this compare and contrast article useful.  Process and Methodology are both worthwhile pursuits. I help clients with both, and they feel different.  Please comment below, or contact me directly if you have any detailed questions.

To your success!

Categories
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 Culture Growth Management Personal Development Technology

Changes in Manufacturing: How Will Different Generations Adapt?

We categorize everything, from sub-genres of music to which foods are the healthiest. But most categorization occurs between generational differences in the workforce and what success means to both, especially in manufacturing.

The Change Curve of Manufacturing

In recent years, the change curve of manufacturing has gone from a static line to an extreme slope. In the past, we all knew what manufacturing was, and safely assumed we knew where it was headed. But ongoing technological advancements are uprooting that sedentary perspective, and the change curve of manufacturing is now an upward climb. What the industry and job market of manufacturing were isn’t where manufacturing is today, or where it’s headed.

That change curve also has an effect on what manufacturing jobs will be in the future, and how they will differ from what they were in the past. That Hard Trend changes how we categorize success, and to us as employees in manufacturing, the word is taking on a whole new meaning. Much as we once “knew” where jobs were headed, we used to have a polarized view of what success meant. For many Baby Boomers in manufacturing, it meant working at a company until you retired, doing the repetitive and often dirty jobs to make ends meet. The paycheck you got at the end of the week meant you were successful.

But the younger generations entering the workforce have an entirely different view of life, success, and jobs in general, let alone jobs in manufacturing. Digital technology, additive manufacturing (i.e., 3D printing) and the internet of things (IoT) are already here and — in most cases — making our lives easier. Everyday tasks that used to take some time to accomplish are now shortened through the use of ever higher-tech devices, which are a constant in the lives of members of younger generations who grew up with them.

Take, for example, telecommunications. Baby Boomers grew up viewing landlines and cordless phones as appliances. Millennials see laptops and smartphones with instant messaging as appliances. Now, the next generation already sees its mobile devices and wearables as appliances. We all categorize, but that categorization changes with the times.

Different generations adapt to technology and define success quite differently.

Different generations’ adapt to technology and define of success quite differently. Also, the fact that many Baby Boomers remain in the workforce as younger generations enter the same industries is increasing the generational divide. The younger generations’ outlook challenges the past definitions of success; to millennials, for example, “success” has much to do with how much they love what they do. The Baby Boomer generation measured success differently; however, if they plan on staying in their jobs, they must open their minds to these trends and let go of the categorizations that further the generational divide.

All generations must rely on one another more than ever before, as more generations will be working together than ever before. While young generations may learn about “the old-school work ethic” from older generations, older generations can and should learn from younger generations about how to apply new tools to old tasks and reinvent the industries they are in.

For example, automation is becoming more capable and widespread, whether we like it or not. Those back-breaking, repetitive jobs discussed earlier are increasingly being taken over by machines. This shouldn’t be viewed as a bad thing; however, many members of the older generation worry about losing their jobs to robots, or believe that dependence on technology makes us weak or lazy. The younger generation can teach the older generation not to fear radically new ideas, but embrace them as progress and learn how to work alongside them.

Job Mentoring and Automation

The same can be said for older generations teaching younger generations about their work ethic and the importance of integrity, trust, and earning those things in the workforce. Forty years of experience can’t be taught via YouTube, but it can be taught in on-the-job mentoring of a younger worker who’s just starting out in manufacturing. Some things, automation will not replace, and all generations can learn to thrive in the future from one another.

We will spend the rest of our lives in the future, so perhaps we should spend some time identifying the Hard Trends that are shaping that future. You should be asking yourself questions about how your career is evolving, how people are evolving, how you can embrace new technology like you embraced past technology, and how to keep your mind open and learn from members of other generations instead of shutting yourself off from new ideas by categorizing everything. Embracing new technology can change the dynamic of the manufacturing workforce while learning from the past to foresee potential problems of the future and pre-solving them before they happen.

Are you anticipating the future of your 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.

Categories
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

Categories
Growth Leadership Personal Development

Importance of Humility in Your Leadership

What comes to mind when you picture a leader with humility? Most people typically think of a leader as someone who has charisma, possibly a big ego or even someone who is an influencer. On top of this there are many leaders who think a leader takes charge, has authority or a position to tell others what to do or to win influence over others because of self-accomplishment. That isn’t leadership, it is power and they are two very different things. If you want to be seen as a leader, stand out or emerge as a leader in your work or life, then likely that stems more from the desire of power than it does from leadership. Leadership is nothing about you, it’s about others.

Humility might not be the first quality that comes to mind when you think of leadership skills, but studies are showing that it is one of the most vital characteristics of successful leaders.

“The first test of a truly great man is his humility. By humility I don’t mean doubt of his powers or hesitation in speaking his opinion, but merely an understanding of the relationship of what he can say and what he can do.” -John Ruskin

One important component is often overlooked: humility. Humility is not cited as often as some other character traits in leadership literature. Since not all leaders read or go by the same leadership guide book, you need to look to your values and see what makes the most important way to lead and to motivate employees for greater productivity. Humble leaders may fly under the radar and be passed over for hiring or promoting. Humility might not be the first quality that comes to mind when you think of leadership skills, but studies are showing that it is one of the most vital characteristics of successful leaders.

In its broadest sense humility is defined as “1) self-awareness, 2) appreciating others’ strengths and contribution, and 3) openness to new ideas and feedback regarding one’s performance. Leaders who are humble have a better grasp on organizational needs and make better informed decisions about task performance.” – Dr. Robert Hogan, the creator of the Hogan Assessment.

Contrary to popular opinion, humility is not a sign of weakness – it’s a sign of strength. Great leaders know who they are; they know what they want; and they believe in their ability to achieve their goals. At the same time, great leaders understand that they cannot achieve their goals on their own – that they rely on others to accomplish what they cannot do themselves.

Research confirms that humble leaders are more effective.  Admitting you don’t have all the answers creates opportunities for learning and builds trust, establishes credibility and provides an example of how to deal with uncertainty.

 “Two things define you:  Your patience when you have nothing and your attitude when you have everything.” – Kristin K Pmanny

How you interact with people is important especially in a business relationship. Some believe that humility in leadership feeds your overall effectiveness. Humility I is too easily dismissed as a leadership quality because people associate it with weakness. Yet managers who exhibit traits of humility–such as seeking feedback and focusing on the needs of others–resulted in better employee engagement and job performance.

Humble Leadership Empowers Others

“Humility does not mean you think less of yourself. It means you think of yourself less.”

-Unknown as many are credited for this quote.

True humility also requires courage and trust that stem from the leaders’ confidence in themselves and their abilities. Humble leaders help employees gain new skills and become more proficient at their jobs.

Being Open to the Opinions of Others

Seek input from others to ensure you understand all the facts before making decisions. No one has all the answers. Humble leaders value the opinions of others rather than ignore or dismiss them.

Admit to Making Mistakes

Sometimes, it’s important to admit that you don’t know the best answer, and wait until you have the best information to make a decision or change. True humility requires courage and trust that stem from the leaders’ confidence in themselves and their abilities.

Self-Reflect

Like many leadership skills, humility may not come easy to everyone. One of the most powerful tools is to write in a journal. By journaling, humble leaders can go back and see how you can better handle situations. There’s always room for improvement.

Let Their People Do Their Jobs

Micromanaging kills morale. Allowing your employees do their work may need you to check with them from time-to-time. Sometimes sitting in on their brainstorm sessions gives you the opportunity to understand how they do what they do. Acknowledging others’ opinions and ideas shows strength and competence, and that you’re not threatened by others’ valuable contributions. When people feel valued, they’re more productive, which creates a positive atmosphere.

“Pride is concerned with who is right. Humility is concerned with what is right.”

-Ezra Taft Benson

Let me know how this fits within your leadership and how I can help you.

Categories
Best Practices Growth Skills

Solve Business Problems with What You Already Have

Recently, we had the pleasure of speaking to the Aalto Fellows, some of the top students from Finland’s Aalto University. We spoke to them at Stanford University for their entrepreneurial tour in Silicon Valley. We were most impressed that this group was organized and funded by the students themselves! What a great way to get a sample of real entrepreneurship!

By the time we spoke to them, they had already heard a bunch of entrepreneurial stories from the best of the best Silicon Valley has to offer. They heard from a lot of the entrepreneurial academics about what it takes. We also knew that the VCs who “created” the Valley spoke to them about what they look for in their own prospective projects. So what could we tell them that was different, fresh, memorable, and practical?

Most companies they had visited were successful VC-funded “unicorns”. They were given tons of resources and assets from the very beginning. They had to give quite a bit of their equity in the beginning, of course. And nobody ever talks about the 19 failures for every 1 unicorn.

Is it really possible to pull up your business by the bootstraps when you’re under-financed? Is there a way to learn how to solve challenges without copious resources? We think so. This is what we had to do, and it’s what most startups can benefit by.

When you’re undercapitalized and running out of runway, you’re forced to get creative and resourceful. You must learn quickly how to work with creditors in such a way that they’ll extend your terms, rather than putting you on a cash basis.

Sure, anyone can be resourceful. Use a door as a desk and a laundry room for an office, just like we did. Yes, you could trade for goods and services, and hire your family to help, like we did. This only goes so far, though. Eventually, you’ll need help with finances in some way. As for us, we found that help in three crucial relationships.

  1. Our Vendors

We evaluated our accounts payable, and we quickly realized that the glass company had the most at stake in our business. The more products we sold, the more bottles they sold us. Yes, that’s right; the more they’d sell, the more money they’d make! They were naturally a strategically, but only if we could convince them to trust us.

We decided we would meet with them on a quarterly basis to discuss our challenges and future plans. We were empathetic about their concern that we wouldn’t pay them in a timely fashion. When our cash flow predicted that our payment would be late, we let them know way ahead of time. We came up with a payment plan that would make our account current, and we always followed through!

Then, they were more comfortable extending terms. This allowed us to expand nationwide without needing to raise extra money. This is a perfect example of how to use soft skills to earn hard cash!

  1. Our Employees

 We depended on our employees to innovate, problem-solve, and stay loyal and excited about our company. Instead of putting them on a need-to-know basis, we put them on a know-the-need basis. We thought they won’t be able to help us if they don’t know what our needs are!

At one point, we had a serious issue. The good news: We got into a huge Florida chain store. The bad news: Like all new products, we were put on the bottom shelf, where nobody looks. The scary news: If we couldn’t go through 100 cases in 90 days, the chain would kick us out—FOREVER!

An employee of ours joked around and said, “Well, we’re ‘Barefoot’, we’ll just go after the foot traffic!” We all laughed. But then another employee chimed in, “Wait a minute, that’s not such a crazy idea, why don’t we just put decal footprints down the wine aisle and turn them into our position on the bottom shelf?” We went on to use those footprints all over the US. And it was our receptionist who came up with the idea!

  1. Our Buyers

 Distributors and retailers were the buyers in our business. The retailers wouldn’t buy unless their customers bought, and the distributors wouldn’t buy unless the retailers bought. Many VC-financed businesses put a huge sum of money into advertising to bring customers to retailers.

But we didn’t have any money for advertising. We were terrified at first that our product wouldn’t be able to move fast enough for the retailers, because nobody knew about our brand.  Then, we got a phone call from a community group looking for donations for a playground. Since we didn’t have any money, we gave them our wine in hopes they’d possibly use it at their fundraiser to loosen up some pockets, or maybe they could auction it off. We were surprised to see our sales take off in their neighborhood.

We tried the same thing in another area. It worked! We tried it in a whole other city. It worked! And it worked extremely well. So well that we took Barefoot nationwide without ever using commercial advertising. Because we were empathetic toward our customers, they had a social reason to choose our products.

Conclusion:

These strategies might not work for everybody. Every company is unique. But there’s a golden thread that is woven through each of these examples, and it’s applicable to any business. It could reduce your need for extra funds. It can empower and inspire your people, reducing turnover rates. And it can bring you the customer base you need to get a positive cash flow and more. Empathy is that gold thread. The more often you use it, the less financial help you’ll need.

We are thrilled to announce that our forthcoming audiobook is soon to be released, on this exact subject.

  • Unlike most business books that discuss companies with a lot of resources, our book will focus on the true beginning of the Barefoot brand—a real testimony to resourcefulness and empathy.
  • Unlike most business books that give list after list textbook style to tell you what to do, what not to do, and the 5 things your customer wants from you, our book will include a series of stories created to inform and entertain.
  • Unlike most business books that feature a monotonous narrator, the characters in our book will be voiced by real actors, bringing each story to life as you listen.

If this book sounds fun for you, check it out at www.barefootaudiobook.com.

For more, read on: http://c-suitenetworkadvisors.com/advisor/michael-houlihan-and-bonnie-harvey/