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Hub You - The Art Of Negotiating - In Today's World - The Skilled Negotiator Has The Advantage
Different methods of allocating costsFirst, we will start with Direct Costs. In the previous article I indicated that it is advisable to allocate direct or (known) costs to the product or service whenever possible.There are a number of methods used. The most common one being used by service type industries such as the local mechanic:-DIRECT COSTSJob CostingFor some, this takes the form of a docket book in which they write down each expense relative to the job being undertaken. In larger workshops and small factories there is o
Factoring is an efficient and reliable way of meeting capital needs of the business. It is beneficial when a business promises to have definite profits in future but faces capital deficit to get the project completed.Factoring Fundamentals: Principles that govern factoring are same as those governing bank loans, credit cards and other such lending methods. The basics of factoring are divided into two main practices. When a factor purchases an estimated value of the future account receivables it is known as non-recourse factor practice. In non-recourse factoring the fa
Negotiating skills are not usually part of our formal education, though we use these skills all day, every day. These skills are at the very core of both our professional and personal lives. It doesn’t matter if we run General Motors or the corner snowball stand or our households, we all have to communicate and convince effectively.
What is negotiation, anyway? Negotiating can be explained as simply as “working side by side with other to achieve some beneficial result.” Luckily, it is a practical skill that can be learned. It is not a genetic trait we’re born with, like blue eyes or black hair. So no matter what our age or our position in life, if we develop a certain attitude about negotiating, pay attention to honing our skills, then our life will run smoother.
Some things to remember when developing a negotiating strategy:
• Act collaboratively, not competitively. It is not “me against you.” When we see the other person as a bargaining partner, we are aware that everyone must come away with a benefit. It is a big mistake to think someone is going to give you something for nothing. So try to determine what it is the other person might want, in exchange for what you want. And then present your case to show them that, if they will help you get what you need, you will help them get what they need. Make “Mutual Benefit” your mantra.
• Personalize the situation; deal as individuals, not as institutions or corporations. You are not talking to “the Tchula bank” but to Charlie Smith, the person sitting in front of you, who represents the bank. Flesh and blood Charlie Smith. Realize that you negotiate on behalf of yourself, representing the company. When you see the other person in this light, you are able to look them in the eye. This eye contact
• Increase your expectations. You usually get what you expect to get. If you don’t think you will get the promotion, you probably won’t. If you don’t think you will land the contract, you probably won’t. There is no way you will put your best effort forward if you think, in the back of your mind, you won’t succeed anyway. So you might as well act as if you expect to get whatever it is you want. You will be pleasantly surprised when you do! You see, when you truly expect to get what it is you are seeking, others see this in you.
Did you know that over 2.2 million people are employed by UK’s construction industry? Over three thousand people have died due to injuries from construction jobs and many thousands have been injured while working on different sites. This is the same all around the globe. The reasons why so many construction workers injure themselves are numerous. Some fall through roofs, from ladders and scaffolding. Others have been hit by falling debris, lifts and dumpers.Firstly, it is very important to wear the right kind of clothing. Protective equipment such as gloves, goggles a
What is negotiation, anyway? Negotiating can be explained as simply as “working side by side with other to achieve some beneficial result.” Luckily, it is a practical skill that can be learned. It is not a genetic trait we’re born with, like blue eyes or black hair. So no matter what our age or our position in life, if we develop a certain attitude about negotiating, pay attention to honing our skills, then our life will run smoother.
Some things to remember when developing a negotiating strategy:
• Act collaboratively, not competitively. It is not “me against you.” When we see the other person as a bargaining partner, we are aware that everyone must come away with a benefit. It is a big mistake to think someone is going to give you something for nothing. So try to determine what it is the other person might want, in exchange for what you want. And then present your case to show them that, if they will help you get what you need, you will help them get what they need. Make “Mutual Benefit” your mantra.
• Personalize the situation; deal as individuals, not as institutions or corporations. You are not talking to “the Tchula bank” but to Charlie Smith, the person sitting in front of you, who represents the bank. Flesh and blood Charlie Smith. Realize that you negotiate on behalf of yourself, representing the company. When you see the other person in this light, you are able to look them in the eye. This eye contact
• Increase your expectations. You usually get what you expect to get. If you don’t think you will get the promotion, you probably won’t. If you don’t think you will land the contract, you probably won’t. There is no way you will put your best effort forward if you think, in the back of your mind, you won’t succeed anyway. So you might as well act as if you expect to get whatever it is you want. You will be pleasantly surprised when you do! You see, when you truly expect to get what it is you are seeking, others see this in you.
<Direct mail campaigns don't have to be expensive. In fact, you can do it yourself and save tons of money. Here are a few tips:First, determine what you want your prospect to do. Are you selling a product? Gathering leads? Inviting them to a seminar? What do you expect the end result to be? Write it down.Next, who is your target prospect? Make a profile and include age, gender, geographic location, and any other pertinent information about your prospect that will help you understand him or her.Thirdly, determine the type of piece you want to mail. If you
• Act collaboratively, not competitively. It is not “me against you.” When we see the other person as a bargaining partner, we are aware that everyone must come away with a benefit. It is a big mistake to think someone is going to give you something for nothing. So try to determine what it is the other person might want, in exchange for what you want. And then present your case to show them that, if they will help you get what you need, you will help them get what they need. Make “Mutual Benefit” your mantra.
• Personalize the situation; deal as individuals, not as institutions or corporations. You are not talking to “the Tchula bank” but to Charlie Smith, the person sitting in front of you, who represents the bank. Flesh and blood Charlie Smith. Realize that you negotiate on behalf of yourself, representing the company. When you see the other person in this light, you are able to look them in the eye. This eye contact
• Increase your expectations. You usually get what you expect to get. If you don’t think you will get the promotion, you probably won’t. If you don’t think you will land the contract, you probably won’t. There is no way you will put your best effort forward if you think, in the back of your mind, you won’t succeed anyway. So you might as well act as if you expect to get whatever it is you want. You will be pleasantly surprised when you do! You see, when you truly expect to get what it is you are seeking, others see this in you.
<If your business is to both grow and be resilient in the face of whatever might come around the corner in the future continual prospecting for new customers is simply essential. The conventional wisdom is that every business needs to have its sales force spent 20% of their time prospecting that's one day a week!So how do you judge whether your sales people are doing a good job – just on performance against budget? I find the Sales Management Matrix model a very useful tool to view your sales people from the helicopter.The y-axis represents prospecting activity
• Personalize the situation; deal as individuals, not as institutions or corporations. You are not talking to “the Tchula bank” but to Charlie Smith, the person sitting in front of you, who represents the bank. Flesh and blood Charlie Smith. Realize that you negotiate on behalf of yourself, representing the company. When you see the other person in this light, you are able to look them in the eye. This eye contact
• Increase your expectations. You usually get what you expect to get. If you don’t think you will get the promotion, you probably won’t. If you don’t think you will land the contract, you probably won’t. There is no way you will put your best effort forward if you think, in the back of your mind, you won’t succeed anyway. So you might as well act as if you expect to get whatever it is you want. You will be pleasantly surprised when you do! You see, when you truly expect to get what it is you are seeking, others see this in you.
<Being a part of a huge business world is indeed a great challenge. Standing out, making a name, and being remembered is not an easy task. So to make this happen, you have to be smart in playing the game called business. Imagine this scenario: say you are a freelance web designer.One night, you went to a friend’s party. While standing and holding your drink, you saw this person beside you and eventually started a conversation with him. Now, you learned that this guy is an owner of a start-up medium-size company, and he is actually looking for a web designer to do thei
• Know what you want. Sounds simple, doesn’t it? But surprisingly, there are many times when we go in to a negotiating session saying, “Let’s see what they offer us.” Why let the other person decide what you will get? Nobody knows your business or your life as you do. Being able to state specific proposals gives you strength.
• Stay focused on the real issues. Decide what you absolutely want to come away with; what extra’s it would be nice to come away with; and what you can do without if you need to give them up to reach an agreement. Why do you need to determine these things in advance? Because in the “heat of battle” you won’t be able to focus on these issues so easily, and you could be very surprised at what you didn’t get or at what you gave away.
• Prepare. Do you homework; thoroughly research the person or company with which you’ll be dealing. Is the company an innovative one or a staid one? Is the person with whom you are negotiating known for being creative or for being more traditional? With all the information available on the Internet today, there is virtually nothing we can’t find out beforehand. Whether we are researching a corporation or a person. Just Google-ing someone is likely to bring up something we didn’t know. And of course, there is the old-fashioned way: just ask. Ask industry colleagues (non-competing ones) or acquaintances. It should not surprise you how much people like to talk about what and who and how much they know!
• Make time your ally. Try to know your counterpart’s deadline without giving away yours. Why? Because if I know your deadline to solve a problem or come to an agreement, I can stall any decision up to the point I know you have to make a decision. Most concessionary behavior and settlement action occur close to someone’s deadline; don’t let it be yours.
These are just a few of the many points necessary to knowing more about the negotiating process. Will practicing negotiation skills take time and effort? Of
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