BUSINESS MAGAZINE 2018

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"How To Prevent Negotiator Anger Backlash That Kill Deals" - Negotiation Tip of the Week

 By Greg Williams 

"That offer angered me. They killed the deal by displaying that they had no respect for me. So, I shoved my chair to the wall, slammed my papers into my case, and walked away!" Does any of that invoke memories or stories of a negotiator's actions that you've seen or heard?

Some form of anger is usually the tempest behind a negotiation's demise. To prevent a negotiator's anger and backlash that can kill your deal, always be mindful of your point of anger and that of the other negotiator.

Temper: 

Losing your cool in a negotiation can make you run hot. That wasn't meant to be funny. Too many times, negotiators forget to control their temper. When they do, they become irrational, engage in non-progressing actions, and infuse a degree of angst in themselves and the negotiation.

When you feel yourself getting upset during a negotiation, identify the cause. If your anger continues to rise, abate it by departing the environment and thoughts that are giving it life. Also remember that there's another entity in the negotiation that you're negotiating against. It's your negotiation opponent. You should be mindful of your temperament as well as that of the other negotiator during the negotiation.

If the opposing negotiator becomes irate, assess the validity of his mood based on what triggered it; he may be using anger as a ruse. If his anger is genuine, alter the mood in the environment by changing elements in it; that may mean departing the environment that you're in. Don't attempt to negotiate in such climates. You may acquiesce when such is to your detriment.

Observe Body Language Signals:

Body language signals can be an omen of anger that's lurking slightly beneath a negotiator's mental surface. Such signals expose themselves by the removing of one's glasses and tossing them aside (i.e. I don't believe what I'm seeing), pinching the bridge of the nose (i.e. it's getting stuffy in here; I need fresh air), rubbing palms while frowning or pouting (i.e. I'm warming up in anticipation for battle). During such occasions, whether it's your actions or that of the other negotiator, note body language gestures that may foreshadow anger. Some will not be as obvious as others (e.g. pounding the table with a fist(s), waving the back of the hand with power coupled with words of dread, sounding exasperated).

Deal Conclusion:

The way a negotiation concludes can be the opening of a deal-killer. If anger has permeated the interactions between the negotiators prior to a deal, there may be a lingering angst promoted by that residue. To enhance the probability that the deal will become consummated, address that residue. Be sure it's completely abated before departing the negotiation table.

Deal-breakers are always seeking life to kill a deal. By being more vigilant to what gives life to anger, you can prevent its backlash from invading your negotiations. You'll no longer fall prey to the profound and insidiousness that anger uses to rip at the negotiation process. You'll be in control of yourself, the other negotiator, and the negotiation... and everything will be right with the world.

Remember, you're always negotiating!

To discover more negotiation tips, along with how to read body language, strategies, and tactics that you can use to increase your financial resources, and other aspects of your life, please visit...

website and sign up for the Free Negotiation Tips.

To invite Greg to speak and/or train at your organization... send an e-mail to...

Greg@TheMasterNegotiator.com --- In the subject line, please insert "Speaking Request".

To discover more information about Greg Williams, go to...

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BUSINESS BOOKS 2018


An Old-School Thank You Is Still a Brilliant Move

By Wayne Elsey 

Want to know one of the best ways to get someone's attention?

Send them a thank you--in the mail.

My team and I are always saying "thank you" in our business. In fact, one of the most successful activities we have done as it relates to business development is to send an initial email about the work we do and if people click into the links for more information, we follow-up with a thank you.

Human nature is often consistent, and the fact of the matter is that people appreciate being thanked for taking a few moments of their time to do what you want them to do.

Old-School Magic

Recently, we were in a meeting with a client with one of our clients in our marketing division, and we spoke about another technique that we use. A thank you in the mail with the personal touch. I've written about this in the past, but it works--well--and yet in the digital age, so many people hear that this is an excellent way to communicate with older audiences above the age of 40, which is almost like magic, but they never try it out for themselves.

Job Interview Follow-up

I know that Millennials seem to think that putting pen to paper is one of the worst things they can do; it's like going to the dentist. Maybe even worse! But, not too long ago, I heard about a Millennial that interviewed with a manager that was in his 50's. Like any smart interviewee, he knew that he had to follow-up on an excellent interview with an acknowledgment. But, he didn't send the email as we expect in today's day and age.

Instead, he penned a note into a professional card and then walked it over to the UPS office and sent it for overnight delivery. The manager received the personalized note card and not too long after--the candidate got the job.

Why did he get the job, aside from the fact that he was a talented candidate?

He got the job, it turns out, when the manager told him later when he was working on staff, that the manager appreciated the receipt of the personalized card. The candidate edged out other talented and qualified candidates because he went a step further and did it creatively.

•              It demonstrated the job candidate was serious about the job.

•              The personalized note, which was taken to UPS, set the candidate apart from the rest and showed the manager he was willing to go the extra mile.

•              Finally, and very importantly, Generation X grew up receiving mail from the postman--not emails. So, the manager told the candidate he hired that it demonstrated he understood what resonated with him. And, since the job was in sales, the candidate proved that he was willing to understand what motivated the other person, and not limit himself to what he preferred.

Biggest Mistake Millennials & Gen Z Make in Business

I'm going to call out Millennials and Generation Z in this article because there is something that I've noticed. It's not limited to their generation and others before them have done it. I've seen that often the "thank you" is lost; forget about a note in the post. I can't tell you the number of times candidates come and meet with my managers and don't bother to follow-up in any way. It's such a small act that can make a big difference and it always surprises me that this straightforward thing is often overlooked.

Not too long ago, a successful business professional who was networked to money people happened to meet someone who impressed her. The young Millennial was creating a new business, and the successful professional was fascinated by the young entrepreneur's platform for university students. The young entrepreneur sensed the senior professional's excitement and asked for two to three contacts that she could be introduced to and who might consider investing in her business.

After that day, within a few hours, the young Millennial sent the senior executive a quick text. This was the extent of it, "Looking forward to meeting the two people you'd say you'd introduce me to!"

That was it.

The senior professional waited, expecting to hear a simple thank you. One day, two days, a week passed, and there was no other message from the young entrepreneur. The senior professional never did introduce the Millennial business owner.

Why?

The young professional had not mastered the art of a thank you, not to mention going above and beyond with a personalized note, and that didn't impress the older (and networked) professional. Not in the slightest.

The best business professionals understand that success in business comes with relationship building. Always close with a "thank you," and if you want to be successful with older professionals, try a little old-school thank you magic if that's who you happen to be talking to and want to impress.

Author of "Not Your Father's Charity: Grip & Rip Leadership for Social Impact" (Free Digital Download available at http://notyourfatherscharity.com/free-resources/ )

© 2018 Wayne Elsey and Not Your Father's Charity. All Rights Reserved.



Four Stages of Business Growth

By Joel R

1st Stage-Initiation:

There can be varied reasons for a business start-up but the main values in running the business are of those who are the founders. We can see that company exhibits the main skills of the founder in its spirits, for example, if the founder is an engineer, he will emphasize in production rather than sales and marketing which should not be neglected. Main efforts are centered on the acceptability of the product in the market. If the owner can provide the demands of business i.e. time, energy, and finances, he/she can move to the second stage. Otherwise, he/she will have to wind up their business as there is limited time for the company to stay at one stage. Here the main focus changes to establish the company and earn profits. With this financial push company will need to formalize the system and start record keeping, an unskilled manager can't handle this all. After this, there will be demand for change in administration's style because of increased activity in his business.

2nd Stage-Growth:

The moment a company moves forward to the expansion stage it should be able to earn a decent profit, but that profit will not go to the owner. This is because it will be invested in the business in order to assist in the capital demands of the company. It demands time for coordinating functional managerial activities; it demands complicated organizational structure mainly focusing on functional lines. Now research and development will be established in order to increase product range. At the start, it will be on a smaller scale because of lack of capital. If management continues changing its environment, the company can stay at this stage for some time. In many cases, owners sell their business at this stage for substantial benefits. The increase of new markets and product will demand more finances. This stage faces larger competitors who deal the situation by putting stress on emerging firm; this stress can be in the form of very low prices as well. At this stage over trading is the biggest threat if not handled properly it can lead the business to demise. As the company grows it need to extend geographical trading and distribution, so 'supervised supervision' will be required at this stage. If new competitors enter the market and the owner wants to maintain his shares, he will have to put more capital by himself or attract some partners.

3rd Stage-Expansion:

This stage demands proper management reports, budget control, and dispersed authority, along with a formal accounting system. Basic adaptation at this stage will be to systemize administrative roles which are keys to survival through this stage. The expansion stage demands stable long term funds which will be important and if there is not plan for partners then this stage must be considered right now. Although retained earnings are major forms of funds but dividends are the special attraction to the investors; at this stage these are inevitable. Now company's track record will help in gaining long term loans but the company will have to give security in the form of assets.

4th Stage-Maturity:

At this stage main issues are about expense control, search for growth opportunities and productivity. The direction of authority can be towards functional lines or it is reorganized with production lines. As there is severe price competition, therefore, productions department should be the center of focus and authorities should emphasize on innovative moves towards betterment.

Now basic investments are in sales and marketing struggles and maintenance and plant up gradation. The company grows up to a level that income is sufficient to tackle this but occasionally more long term load prove to be a support. At this level firm may limit its operations or move on, normally acquisition or floatation in order to become a large corporation.

Whatever the situation, managers are pressured by shareholders to safeguard the future of the firm. However, the time of great trial falls to the founder. He built his business with great effort and sacrifices, and now he is asked to give it away.


2019 EVENTS


How to Manage Your Business While Traveling

By Max G 

Whether it's following up on work, assigning tasks, checking on your business mail, or just replying to customers, it can all be done from your phone. As a matter of fact, almost anything can get done online, through your phone today.

Yes, it's that simple. But don't go running home or rushing off to your next vacation destination just yet! We need to establish how you can get all this done and more without being at the office. Keep reading to find out the key factors you need to consider when managing your business while traveling or being away.

Key Factors to remotely managing your business:

Conduct Regular Meetings:

Everyone doesn't need to be huddled up in the conference room to conduct a good meeting; you can get remote employees, freelancers, and employees at the office all in the same meeting with just an internet connection.

Now meeting on a daily or even weekly basis can be difficult while you're traveling because you're mostly busy and have other things to address. However, meeting with the managers weekly or bi-weekly will reassure your presence in the office and confirm your supervision on all business matters.

You can easily conduct meetings through Skype or Google Hangouts where everyone can see each other and even share files if needed. You can also use Google Slides for presentations or Team Viewer to share your computer screen with everyone for demonstration.

Be sure to regularly interact with your employees no matter where you are and build close relations with them that can evolve into trust. If this is accomplished, you'll never need to worry about business when you're away.

Follow-up on Work Progress & Hours:

You being away from the office should never mean work doesn't get done or is on pause. Technology created a solution for slacking or lazy employees, time tracking software. This type of software allows you to track employees working hours so you will always be updated with who came late or who worked overtime.

Employees will be able to track their shifts, breaks, and leave notes on their work progress.

There are many types of time tracking software, some are essentially focused on tracking working hours like ClockIn Portal that generate timesheets and can be integrated with payroll systems.

Others include a project management feature like Zoho Projects where you can share projects, assign tasks, and follow-up on tasks.

You can also use essential project management software like Basecamp or Asana that mainly focus on getting work done efficiently. Project management software allows you to assign tasks, update them with comments, set deadlines, add attachments, and eventually mark them as complete. With a straightforward tracking method of working hours and work progress, employees will feel obligated to stay focused and get things done faster.

Handle Business Mail Instantly:

While traveling, your mail is something you mustn't forget about. Neglecting your mail for even a few days can lead to problems. Unattended mail can be important contracts from clients, documents from partners or investors, or feedback from your customers.

With a virtual mailbox, you can take your mail with you wherever you go.

A virtual mailbox is a mailbox that you can access online and handle your mail. The options vary from shredding any document or forwarding packages to opening, archiving, or downloading mail in just a few minutes. Your mail is delivered to secure mail facilities where the envelope is scanned and uploaded to your cloud-based mailbox for you to control.

So not only is it remote access to your important mail, but it eliminates the need for a mailroom! This means lesser paper storage, no mail operators, and faster mail operations, a win-win for you and your pocket.

Now, you're ready to go!

With your business essentials all in check, you can easily travel whenever needed without worrying about work falling behind or inefficiently managing your business. By following these three factors, you can manage your tasks and still have time to enjoy your vacation!

PostScan Mail guarantees that a future change of address or being away for frequent traveling will not pose any problem. They receive your mail, scan the outside, and alert you online. You can then view your scans and manage your mail and packages remotely through any device connected to the internet. Upon your request, they can scan the content of your letters, shred or recycle the junk mail, forward your items to the address you pick or store your mail at their facility for as long as you wish, all with just a click.