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The Humor Advantage: Five Keys to Effectively Using Humor That Can Help You Laugh All the Way to the Bank.

Can more funny equal more money? Without question. There truly is a bottom-line advantage to leveraging your humor resources and branding your business with humor. Here are five guiding principles to help you and your business laugh all the way to the bank.

1. First, Do No Wrong

Great advice for doctors or would-be corporate jesters. Make sure the humor you use in your branding laughs with people, not at people. Laugh at yourself, not in a, “I’m a loser” kind of way, but in a way that lets people know you don’t take yourself overly seriously. Stay clear of political, ethnic, gender or sex-based humor. Remember that having permission to use more humor at work is not permission to act like a jerk. It doesn’t give you license to offend or humiliate people, or disparage their character. It’s about being more human, having a bigger heart, and demonstrating greater humility.

The number one fear corporate clients express about using humor at work is that it will invite all manner of obnoxious behaviors eventually leading to lawsuits. Yet, companies such as the Las Vegas based online shoe retailer Zappos, that embrace an enormous amount of fun and humor in their workplace, rarely – if ever – experience anyone crossing the proverbial humor line. Why? Because the style of humor employees use reflects their culture. If you create a respectful workplace culture, as Zappos has done, then the humor will remain respectful.

2. Be Authentic

Humor can break down barriers and build trust, provided the humor used creates and reflects authenticity. As Jerry Seinfeld once said, “The whole object of comedy is to be yourself. The closer to that you get, the funnier you will be.” This applies at a corporate level as well. Customers are savvier than ever and more cynical than ever. They’ll see through half-hearted attempts at humor that seem to be nothing more than manipulative and insincere window dressing. The need for authenticity applies to leaders and employees as well.

The Canadian airline WestJet, modelled after Southwest Airlines, understands the importance of authentic humor. As with Southwest Airlines, flight attendants and pilots at WestJet Airlines are encouraged to bring their personalities to work and to use humor when delivering announcements, but with one large caveat: Be your authentic self. The last thing WestJet wants (or their passengers, for that matter) is a flight attendant pretending to be funny or feeling forced to sing a rap song when they aren’t comfortable doing so. But allowing employees to be their authentic selves and use their own style of humor while delivering great service is what has helped WestJet and Southwest Airlines soar to success.

3. Be Congruent With Your Brand

The humor you use at a corporate level must fit your style. It needs to be congruent with your brand. if you have a classy brand, then your humor, for the most part, should be classy. If you want to be known as an edgy company, then use edgy humor.

Kentucky’s Big Ass Fans, for example, uses a fair amount of edgy humor on its website, which seems appropriate given their name (even though the ass they speak of is a donkey). Their name generates controversy, which Big Ass Fans uses to their advantage by including some of the hate mail they receive on the kudos section of their website. They even have a hilarious video that pokes fun at the entire controversy. It’s edgy humor befitting a company that has embraced an edgy name, but the humor they get away with wouldn’t be appropriate for a more family-friendly or conservative business. Make sure the humor you use contributes to and reflects the brand image you want to project.

4. Be Relevant

The more the humor you use at your workplace is relevant to your business, the more memorable and effective it will be. Humor for the sake of humor can be a fabulous tool, but relevant humor that ties into your unique challenges, issues, products, local attractions, branding, and industry is far more effective.

The Dirty Laundry winery is one of my favorite wineries in British Columbia’s Okanagan Valley. The name comes from an historic Summerland laundry that reportedly housed a brothel, earning the business the nickname “The Dirty Laundry”. It’s a playful, fun name that invites a lot of humor – and the key to their branding success is that they keep the humor relevant to their name and theme. So the winery’s logo features a red-hot iron with images of women in the steam; their tagline reads: “The Okanagan’s Dirty Little Secret”. Their newsletter is called Laundry Lines, and their welcome sign resembles a giant sheet hanging on a clothesline. The entrance gate posts are giant clothes pegs. The tasting room/gift shop is reminiscent of an old-fashioned bordello (not that I’d know what one looks like) complete with lingerie strewn about the display cases. They sell products such as pink stiletto wine bottle holders. And of course their wine names include such gems as, “A Secret Affair,” “Naughty Chardonnay,” and “A Girl in Every Port.” Even the descriptions of the wine are playfully suggestive.

The more relevant the humor, the more likely it is to reinforce and strengthen your brand, your image, and your products.

5. Embrace a Spirit of Fun

Beryl Health is a call center company that has built a wildly successful business with an employee turnover rate that’s the envy of their competitors. The key to their success has been to focus relentlessly on nurturing a positive and fun culture. Who, after all, wouldn’t want to work in a company where the human resources manager has the alternative job title The Queen of Fun and Laughter? Beryl embraces a fun culture that starts at the very top, with CEO Paul Spiegelman. And yet, Spiegelman admits to being an introvert, and not a particularly funny person. “I’ve come to learn that it’s not about being funny, but about encouraging and creating a culture that embraces a spirit of fun.”

Ultimately, using humor effectively to brand your business is about embracing a spirit of fun rather than trying to be funny. Embracing a spirit of fun suggests a lightness, a willingness to play, and a spirit of inclusiveness.

Michael Kerr is an international business speaker who travels the world researching, writing, and speaking about inspiring workplace cultures and the use of humor in business to drive success. His latest book is called, The Humor Advantage: Why Some Businesses Are Laughing All the Way to the Bank

Categories
Growth Human Resources Personal Development

The Humor Advantage: Five Keys to Effectively Using Humor That Can Help You Laugh All the Way to the Bank.

Can more funny equal more money? Without question. There truly is a bottom-line advantage to leveraging your humor resources and branding your business with humor. Here are five guiding principles to help you and your business laugh all the way to the bank.

1. First, Do No Wrong

Great advice for doctors or would-be corporate jesters. Make sure the humor you use in your branding laughs with people, not at people. Laugh at yourself, not in a, “I’m a loser” kind of way, but in a way that lets people know you don’t take yourself overly seriously. Stay clear of political, ethnic, gender or sex-based humor. Remember that having permission to use more humor at work is not permission to act like a jerk. It doesn’t give you license to offend or humiliate people, or disparage their character. It’s about being more human, having a bigger heart, and demonstrating greater humility.

The number one fear corporate clients express about using humor at work is that it will invite all manner of obnoxious behaviors eventually leading to lawsuits. Yet, companies such as the Las Vegas based online shoe retailer Zappos, that embrace an enormous amount of fun and humor in their workplace, rarely – if ever – experience anyone crossing the proverbial humor line. Why? Because the style of humor employees use reflects their culture. If you create a respectful workplace culture, as Zappos has done, then the humor will remain respectful.

2. Be Authentic

Humor can break down barriers and build trust, provided the humor used creates and reflects authenticity. As Jerry Seinfeld once said, “The whole object of comedy is to be yourself. The closer to that you get, the funnier you will be.” This applies at a corporate level as well. Customers are savvier than ever and more cynical than ever. They’ll see through half-hearted attempts at humor that seem to be nothing more than manipulative and insincere window dressing. The need for authenticity applies to leaders and employees as well.

The Canadian airline WestJet, modelled after Southwest Airlines, understands the importance of authentic humor. As with Southwest Airlines, flight attendants and pilots at WestJet Airlines are encouraged to bring their personalities to work and to use humor when delivering announcements, but with one large caveat: Be your authentic self. The last thing WestJet wants (or their passengers, for that matter) is a flight attendant pretending to be funny or feeling forced to sing a rap song when they aren’t comfortable doing so. But allowing employees to be their authentic selves and use their own style of humor while delivering great service is what has helped WestJet and Southwest Airlines soar to success.

3. Be Congruent With Your Brand

The humor you use at a corporate level must fit your style. It needs to be congruent with your brand. if you have a classy brand, then your humor, for the most part, should be classy. If you want to be known as an edgy company, then use edgy humor.

Kentucky’s Big Ass Fans, for example, uses a fair amount of edgy humor on its website, which seems appropriate given their name (even though the ass they speak of is a donkey). Their name generates controversy, which Big Ass Fans uses to their advantage by including some of the hate mail they receive on the kudos section of their website. They even have a hilarious video that pokes fun at the entire controversy. It’s edgy humor befitting a company that has embraced an edgy name, but the humor they get away with wouldn’t be appropriate for a more family-friendly or conservative business. Make sure the humor you use contributes to and reflects the brand image you want to project.

4. Be Relevant

The more the humor you use at your workplace is relevant to your business, the more memorable and effective it will be. Humor for the sake of humor can be a fabulous tool, but relevant humor that ties into your unique challenges, issues, products, local attractions, branding, and industry is far more effective.

The Dirty Laundry winery is one of my favorite wineries in British Columbia’s Okanagan Valley. The name comes from an historic Summerland laundry that reportedly housed a brothel, earning the business the nickname “The Dirty Laundry”. It’s a playful, fun name that invites a lot of humor – and the key to their branding success is that they keep the humor relevant to their name and theme. So the winery’s logo features a red-hot iron with images of women in the steam; their tagline reads: “The Okanagan’s Dirty Little Secret”. Their newsletter is called Laundry Lines, and their welcome sign resembles a giant sheet hanging on a clothesline. The entrance gate posts are giant clothes pegs. The tasting room/gift shop is reminiscent of an old-fashioned bordello (not that I’d know what one looks like) complete with lingerie strewn about the display cases. They sell products such as pink stiletto wine bottle holders. And of course their wine names include such gems as, “A Secret Affair,” “Naughty Chardonnay,” and “A Girl in Every Port.” Even the descriptions of the wine are playfully suggestive.

The more relevant the humor, the more likely it is to reinforce and strengthen your brand, your image, and your products.

5. Embrace a Spirit of Fun

Beryl Health is a call center company that has built a wildly successful business with an employee turnover rate that’s the envy of their competitors. The key to their success has been to focus relentlessly on nurturing a positive and fun culture. Who, after all, wouldn’t want to work in a company where the human resources manager has the alternative job title The Queen of Fun and Laughter? Beryl embraces a fun culture that starts at the very top, with CEO Paul Spiegelman. And yet, Spiegelman admits to being an introvert, and not a particularly funny person. “I’ve come to learn that it’s not about being funny, but about encouraging and creating a culture that embraces a spirit of fun.”

Ultimately, using humor effectively to brand your business is about embracing a spirit of fun rather than trying to be funny. Embracing a spirit of fun suggests a lightness, a willingness to play, and a spirit of inclusiveness.

Michael Kerr is an international business speaker who travels the world researching, writing, and speaking about inspiring workplace cultures and the use of humor in business to drive success. His latest book is called, The Humor Advantage: Why Some Businesses Are Laughing All the Way to the Bank

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

Beware of the 7 Most Deadly Mistakes Negotiators Make

“People that make deadly mistakes will eventually be befallen by them.” -Greg Williams, The Master Negotiator & Body Language Expert

To win more negotiations, you must #beware of the 7 most #deadly #mistakes that #negotiators make when #negotiating. To ignore these deadly mistakes is to negotiate at your peril.

1. They omit planning stage of negotiation

There’s value in preparing for a negotiation. You get to experience what might occur during the negotiation which prepares you for that circumstance. Inexperienced negotiators rush to a negotiation without considering the complexities that might occur. That leaves them exposed and vulnerable to chance.

  1. In this process, consider what a winning strategy might be for you and the other negotiator.
  2. Consider how you’ll get back on track if you find yourself off of it.
  3. Consider what you’ll disclose, along with how you’ll do it, and what you’ll settle for (Note: In some cases, talking less can enhance your position. It’ll allow you to gain more insight).
  4. Control emotions – Assess how you’ll act/react if certain proposals are offered. Be mindful of offering ultimatums. They can be the death knell of a negotiation.

2. They don’t position themselves properly

In every negotiation, the way you’re viewed will determine how the other negotiator engages you. Thus, if you position yourself as someone that reflects the other negotiator’s style, he’ll perceive you as more of an equal.

  1. Part of the positioning process entails building relationships.
  2. Consider the degree of confidence you’ll display (too much and he may perceive you as overbearing, too little and he may perceive you as being weak).

3. They don’t consider the opposing style the other negotiator might use

Negotiators use different styles when negotiating. Know what style the other negotiator might use during your negotiation. Be mindful that good negotiators alter their style based on circumstances.

  1. Hard style negotiator (i.e. I don’t give a darn about what you want; this is a zero-sum negotiation.)
  2. Soft style negotiator (i.e. can’t we all just get along?)
  3. Bully – Be wary of the negotiator that attempts to bully you. Note the difference in his characteristics from the hard style of negotiator. He’ll be more brisk, non-caring, rude, and demeaning.

4. They fail to create exit points in the negotiation

They’ll be times when a negotiation will not go as expected. To offset lingering longer than necessary, set points to exit the negotiation based on circumstances.

  1. Example, if the other negotiator becomes belligerent about a point that creates an impasse, consider exiting the negotiation.
  2. State that the time appears not to be right to continue the negotiation and prepare to exit.
  3. Note any demeanor changes in the other negotiator. If it changes for the better, you will have conveyed that he strayed too far.

5. They don’t read or understand body language

Body language and nonverbal clues add or detract from what’s said. Learn to discern hidden meanings to gain insight into the mental thought process that’s occurring in the mind of the other negotiator.

6. They’re not aware of value

Value can expose itself in many forms. It doesn’t have to be monetary. The more you’re aware of the other negotiator’s value proposition (i.e. what he wants from the negotiation and why), the greater the opportunity to get what you want by giving him what he’s seeking.

7. They fail to perform negotiation postmortems

There’s a richness of knowledge in performing a negotiation postmortem. You can gather insights into what occurred compared to what you thought would occur. From those insights, you can learn greater negotiation skills and become a better negotiator.

When negotiating, always beware of the 7 most deadly mistakes that negotiators make. If you avoid these mistakes, your reward will display itself in more winning and easier negotiations … and everything will be right with the world.

Remember, you’re always negotiating! 

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

To receive Greg’s free “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.TheMasterNegotiator.com/greg-williams/

#Mistakes  #Fight #Negativity #cyber, cyberbullying #Management #SmallBusiness #Money #Negotiating #combat #negotiatingwithabully #bully #bullies #bullying #Negotiations #PersonalDevelopment #HandlingObjections #Negotiator #HowToNegotiateBetter #CSuite #TheMasterNegotiator #psychology #NegotiationPsychology

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

There’s Hidden Value in the ‘Nice Factor’ When Negotiating

“The hidden value of the nice factor is exposed by reciprocation.” -Greg Williams, The Master Negotiator & Body Language Expert

“I don’t know why I made those concessions. The other negotiator was so nice! Something made me want to be nice in return.” Unbeknownst to the speaker of those words, subliminally, he was affected by the nice factor.

Have you ever considered the hidden value of the nice factor when negotiating? Being nice is perceptional, depending on who you’re negotiating with. Nevertheless, it has a place at some point in every negotiation.

The following are ways you can deploy the settle ally of the nice factor to enrich your negotiation outcomes.

Positioning:

Negotiators set the tone for the negotiation at its outset. Note: The outset starts before you’re at the negotiation table. They may set a tone to suggest you should not take them lightly or one that implies they’ll go along to get along.

Some negotiators project a stern persona to convey the sentiment that they’re not to be dallied with; this persona can also be invoked to protect the veneer of insecurity. That’s worth mentioning because you should be watchful and asses if such a demeanor serves that purpose. That can uncover the personality type that you’re really dealing with.

In some cases, a stern type of projected positioning is advantageous. But, if you don’t consider the negotiation style of your negotiation counterpart, it can be the uncoupling of the negotiation before it starts. Thus, you should be mindful of the persona you project at the beginning stages and throughout a negotiation. You don’t want to turn the other negotiator into a more abstinent opponent if he’s not already one. If such occurs, attempt to mollify him by modifying your demeanor. Be nicer.

Soft Negotiators:

Soft negotiators will display their demeanor by presenting a broad smile upon meeting you and a handshake that is appropriate for the encounter (i.e. not too hard, not too soft). As you engage in the negotiation, assess to what degree this may be a façade. You can accomplish that by noting the slight changes in her personality when discussing points of disagreements. If she’s quick to placate you, make sure you let her win points, too. Doing that will enhance the nice factor.

Hard Negotiators:

Hard negotiators may present more of a challenge when attempting to invoke the nice factor. Depending on the degree of their hardness, moderate to obnoxious, the nice factor may not be appropriate. Instead, you may want to adopt a persona that matches the style of the other negotiator to get him to modify his demeanor. If he does, at that point you may consider implementing the nice factor. Depending on the severity of his modification, being nice can serve as his reward.

Negotiation Reset:

Most negotiators don’t like strong tensions in a negotiation. When tensions reach a certain level, negotiators tend to be more dogmatic about the positions they’ve adopted. So, if you find yourself in such a contention, consider employing the nice factor. This may be in the form of making a concession. If you’re not sure if doing that will ease tensions, preface your offer with an ‘if’ statement (e.g. If I do this, will you do ‘x’?). The point of using the nice factor at this point will be an attempt to reset the negotiation to a less pretentious position.

The more positive the experiential endowment you invoke within the other negotiator, the easier the flow of the negotiation will be. That will lend itself to an enhanced negotiation engagement, which in turn should lead to a greater negotiation outcome for you … 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/

#Value #factor #Fight #Negativity #cyber, cyberbullying #Management #SmallBusiness #Money #Negotiating #combat #negotiatingwithabully #bully #bullies #bullying #Negotiations #PersonalDevelopment #HandlingObjections #Negotiator #HowToNegotiateBetter #CSuite #TheMasterNegotiator #psychology #NegotiationPsychology

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

How to Prevent from Being Slaughtered When You Negotiate

“You set yourself up to be slaughtered in a negotiation if you don’t set yourself up right.” –Greg Williams, The Master Negotiator & Body Language Expert

“What the heck happened in there? They slaughtered us! They out-negotiated us at every turn! Why did we not see that coming?” “I guess we didn’t plan for that type of negotiation with that type of negotiator”, was the reply.

People engage in negotiations because they seek to maximize an outcome. In that quest, some people lose their focus. They use the same negotiation strategies they’ve used in the past and wonder why they get slaughtered when those strategies are no longer effective. To prevent that from happening to you, note the following.

Positioning

Environment: Know what the best environment is to conduct your negotiation in. That environment may encompass doing so in writing, or phone, versus in person. There are different dynamics that come into play when negotiating in different environments. Know the environment that will most benefit your style of negotiating compared to the negotiation style of the opposing negotiator.

Perception: Everyone has an image of who the person is that they’re negotiating with. That persona is based in part on what the perceiver knows about the other negotiator; that stems from what the perceiver has seen, heard, and thought of that person in the past.

Project the persona warranted for the negotiation. Take into consideration the negotiation style of the opposing negotiator in your calculation (i.e. hard (I’ll crush you), soft (I’ll go along to get along)). The perception you cast and how you perceive the other negotiator will determine the flow of the negotiation. To prevent being caught off guard, about your perception of the other negotiator and him of you, be adaptable as to the persona you project.

Strategy

Entity: Know who you’re really dealing with (i.e. what force and sources motivates the other negotiator). Consider how he interprets information and how best to message that information related to the messenger (i.e. your persona). Your message may be received more favorably with one persona based on how that persona is perceived.

Leverage: When assembling strategies, assess how you’ll employ the powers of leverage. Leverage is a tool that can embolden you with positional power (i.e. power you have for a specified time), which can improve your negotiation position. Be cautious of how you use leverage. If you state you’ll engage in an action and don’t follow through, not only will you lose the ability to invoke leverage further in the negotiation, you also run the risk of losing credibility.

End Game

What’s your end game and how will you know when you’ve entered it? You should develop the answers to those questions during the planning phase of your negotiation. The plan should encompass what might trigger the end game phase of the negotiation, how you might promote it to occur if it’s lagging, and what you might do to terminate the negotiation if you discern that your efforts will not get you there.

By having markers denoting possible exit points from a negotiation, you lessen the possibility of staying engaged longer than what’s necessary; staying engaged longer increases your vulnerability by making unnecessary concessions.

Once you arm yourself with the thoughts mentioned above, you’ll insulate yourself from the brutality that could otherwise occur. That insulation will also be a shield that prevents you from being slaughtered in your negotiations … and everything will be right with the world.

Remember, you’re always negotiating! 

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

To receive Greg’s free “Negotiation Tip of the Week” and the “Sunday Negotiation Insight” click here http://www.TheMasterNegotiator.com/greg-williams/

#slaughter #Fight #Negativity #cyber, cyberbullying #Management #SmallBusiness #Money #Negotiating #combat #negotiatingwithabully #bully #bullies #bullying #Negotiations #PersonalDevelopment #HandlingObjections #Negotiator #HowToNegotiateBetter #CSuite #TheMasterNegotiator #psychology #NegotiationPsychology

 

 

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

How To Fight The Negativity Of Cyberbullying

“Cyberbully – A person that seeks power by hiding behind the cloak of anonymity due to his cowardness to confront others head-on. Or, someone too weak in personality that it causes him to seek pleasure by denigrating others.” -Greg Williams, The Master Negotiator & Body Language Expert

“He constantly picked on me by posting untruthful things that he said I engaged in. Then, he made unflattering comments about my mother. I found that of particular distaste.”

You may have thought the words above stemmed from two friends in their teens. The statement did come from two friends, but they were CEOs of major corporations. They were discussing the cyberbullying effects targeted against one of the CEOs in cyberspace.

Anyone can come under attack in cyberspace. The reasons for such don’t have to be valid. Do you know how to fight the negativity of cyberbullying? Continue reading this article to gather a few tips that you can use to combat a cyberbully.

Prevention:

Keep your guard up.

Be on the alert for those that might attack you. Some will do so because of the assets they perceive you to have. They may also do so because of the industry your business is in, your ethnicity and/or gender. Some people may just be mentally challenged, which causes them to seek out a target to bully.

None of this is to say that you should become paranoid. It simply means that you should be alert about how and why someone might attack you in cyberspace.

Turn yourself into a small target.

Know that some people engage in cyberbullying for pleasure. Others may do so as the prelude to extortion; extortion can be in the form of gaining leverage to achieve a goal, especially when negotiating.

To thwart a bully’s efforts, turn yourself into a small target. Don’t flaunt your assets in the manner that would attract and invite a possible attack. If you become a victim, keep a prepared set of documents that show you may not have what the bully wants. To do this, you must know what his ultimate goal is. You don’t want him to turn your perceived lack of assets against you and use that to enhance his position. Remember, it’s harder to hit a small target, but you must know what to morph that target into before it can be effective.

Fighting back:

Why me?

Bullies tend to target those persons or entities that they sense as being vulnerable. So, project strength when responding to the bully. You can do this by having others come to your defense and responding on your behalf. You can also respond by hitting the bully where he’s most vulnerable; it’s obvious that you’ll have to know his vulnerabilities to do this, which may require research.

I used the above strategy in an online forum in which someone attempted to bully others in the group. I asked the group if anyone knew that the bully had done the same thing in other groups. Someone said they did and that individual took the bully head-on. The bully retreated and was never heard from again. As an aside, I and the cohort that I used to fight the bully had already discussed this tactic before my ally engaged him. The bully had perpetrated the same tactics in a different forum that my ally and I were in.

Depending on the severity of the cyberbullying, you can get law officials involved, private detectives, etc. Regardless of the countermeasures you engage in, use them strongly enough to arrest the bully’s activities. Crush his will to engage you further so he dares not return to his former activities against you … 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/

#Fight #Negativity #cyber, cyberbullying #Management #SmallBusiness #Money #Anchoring #combat #negotiatingwithabully #bully #bullies #bullying #Negotiations #PersonalDevelopment #HandlingObjections #Negotiator #HowToNegotiateBetter #CSuite #TheMasterNegotiator #psychology #NegotiationPsychology

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

How to Use Anchoring Better in Your Negotiations

“Anchoring is a way to keep a negotiation within boundaries, but it can also be a way to weigh it down.” -Greg Williams, The Master Negotiator & Body Language Expert

“We can pay your bill if you’re reasonable about the settlement. That means, we’re willing to start the discussion at $300,000, not the $650,000 that you indicated. Anything else is a none starter. Do you wish to start the discussion?” Those were the words of one negotiator to another. He was using a technique known as anchoring to advantage his position. How would you respond?

The following information will give you insights as to how you can use and defend the technique of anchoring in your negotiations.

What is anchoring?

Anchoring is a strategy that you can use to set boundaries in a negotiation. If you and the other negotiator agree to those boundaries, you have the confinements in which the negotiation will occur.

Be mindful, depending upon the depth of the negotiation, those outposts can be violated and lead the negotiation to unsavory places. Thus, be cognizant of the signals that indicate that the other negotiator might be in the process of abating those boundaries. At the first sign of such actions, note the cause that promoted the change in behavior. That will give you the clue about what to address if you wish to bring the negotiation back in bounds.

Why use anchoring?

As stated, anchoring is a way to set parameters around the negotiation. Therefore, if abided by, the agreement should allow for an easier flowing negotiation.

Boundaries in a negotiation can be a curse or a blessing. That’s the inherent dilemma in using this strategy. If you’re negotiating with a weaker negotiator, you can skillfully use anchoring to limit his abilities, while leaving your options open to explore the upper realms of possibilities. If you’re the weaker negotiator (i.e. fewer resources, little leverage, etc.), you risk being susceptible to an unfavorable negotiation outcome.

Factors to consider when using anchoring tactics.

  1. Negotiation (resources, personalities)

As mentioned above, you should consider the resources that you and the other negotiator have at your availability. The more resources that a negotiator has, the more leverage he can bring to bear on the negotiation. That doesn’t mean if you have fewer resources that you’ll automatically fall into the weaker category. It means, if you’re the weaker negotiator, you should attempt to limit the leverage of the other negotiator so he’ll not be able to employ those resources against you.

In addition, consider the other negotiator’s personality. Some negotiators don’t like to take advantage of others. And other negotiators will stomp on you while you’re down to keep you from getting up. The better you know the personality type that you’re negotiating with, the better you’ll be able to predict what he might do.

  1. Leverage points to consider (i.e. urgency, unseen negotiators, etc.)

If you have a grasp into the urgency, deadlines, and timeframes that the other negotiator needs to conclude the negotiation, you’ll have insights into how you can use anchoring to lead him down the negotiation path. For example, if you know that he must conclude your negotiation before another phase starts with those that are not part of your negotiation, you can anchor his deadline to a timeframe. Then, if he doesn’t make concessions that you request, you can slow the negotiation down.

Anchoring can be an extremely powerful strategy to use in your negotiation. Most negotiations contain some form of anchoring embedded in them with them identified as such. If you’re more aware of anchoring in your negotiations, you’ll be less likely to get sunk by them … 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/

#Management #SmallBusiness #Money #Anchoring #combat #negotiatingwithabully #bully #bullies #bullying #Negotiations #PersonalDevelopment #HandlingObjections #Negotiator #HowToNegotiateBetter #CSuite #TheMasterNegotiator #psychology #NegotiationPsychology