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Actual for You - Strategic Negotiations - Better Relationships - Better Deals
Marketing No No's - Don't Make These Mistakes! e department is poor. So the salesperson needs to understand and communicate the value he brings and justify his price based on his impact on the business.You've got your business set up and running and your first enquiries start coming in. Now is not the time to sit back and relax – you need to stay ahead of the competition and constantly research your market, honing and tuning your marketing. Here are some things that you should absolutely definitely not do.1. Exaggerate your claims. Sooner or later your hype will catch up with you. It’s bad for business to underestimate the intelligence of your potential customers and if you do sell them something that does not work then they will tell others and a bad reputation and demands for refunds will follow. 2. Not testing. Make sure that our ads are effective. Just think of the TV ads that are very memorable, but you can’t remember the product that was being advertised. Monitor the response f SPJ: How does the salesperson protect against manipulation and control? DB: First of all, recognize it for what it is and then deal with it as the tactic, as opposed to reacting to it. If a buyer is sitting behind a nice desk and he seats you in a chair across from him that’s eight inches lower than his, just tell him you are not comfortable there and move to another location so you can be eye level with him. Then there’s the tactic where the buyer has a fading memory. They make an agreement and forget what they agreed to. You have to document everything and furnish these notes to all participants after every meeting. That way you have a written trail of what agreements were reached during every negotiation session. SPJ: What do you do when you reach a stalemate? How do you unlock the negotiations when there are no agreeable options? DB: That’s what you call your walk-away position. When you discover it is not going to be a good deal for you and the customer is not w Use The Neglected Weapons In Your Marketing Arsenal Are you getting the results you want from your sales organization? If not, it could be possible that your sales force’s negotiation skills need sharpening.Business marketers have a lot of weapons in their arsenals but they often overlook some very important ones. So, let's do a quick inventory.Of course, you already have a company name, a positioning statement, logo, stationery, business cards and a website. Right?The next thing I suggest is an employee survey. Ask them about what's happening where the company meets the customer. Find out how employees feel about the company. A recent survey shows that employee attitudes have a huge impact upon a company's bottom line. Motivated employees provide great service, and great service can separate you from your competitors.Next, develop a customer retention program. It costs five times more to develop a new customer as it does to keep an old one. E-newsletters are an essential part of my customer retenti Negotiation is part of each step of the sales process, not a one-time event. It begins prior to the first sales call and ends with customer recognition of the value your product or service brought to his business. Successful negotiating, then, requires the right mindset, the right tactics and a keen understanding of the pitfalls along the road to closing the deal. Representing the Sales Performance Journal, business journalist Jennifer LeClaire talked with Dan Ball, a Miller Heiman Sales Consultant based in Atlanta, Ga., who works with several Fortune 500 clients in the region. Ball shed some light on his successful approach to negotiating by communicating value every step along the way. Sales Performance Journal: What is the proper mindset going into successful negotiations? Dan Ball: You need to go in with the mindset of trying to maximize not only the value that you get out of the relationship, but also what the customer gets. You also need to go in knowing what your desired outcome is. SPJ: How does the salesperson break the ice, so to speak? What is the best strategy for breaking down those walls of resistance or overcoming salesperson stereotypes at the onset? DB: Have the best interests of the customer in mind--as well as your best interests. Make sure your product or service is a good fit and meets each buyer’s interest. Be sincere and remember, people buy because they believe what you’ve told them. As soon as you ship the product or perform the service, they consciously or subconsciously check back to see if they got what they paid for. Make sure they see the value in what you’ve sold. One of the key things to remember is that negotiation is not an event in itself. It is a process made up of a series of meetings. Communicating the value of your products and services throughout the sales cycle can have a huge impact on negotiations. Negotiation actually begins prior to your first sales call, and doesn’t end until the customer has realized the value of the solution that he bought from you and its positive impact on his business. SPJ: How do you create the perception that you are working with the buyer as opposed to against the buyer? DB: Throughout the sales cycle you are trying to uncover the interests of the customers and what they are trying to fix or accomplish, or, in some cases, avoid. You are trying to understand the buyer’s personal and business drivers. The CEO is looking for something different than the production line manager. What are they tasked with? What are their goals? How are they measured? Cost will always be an issue but it certainly shouldn’t be the deciding factor. SPJ: What are a couple of common negotiation pitfalls and how do you avoid them? DB: Not understanding the business impact your products and services can make on the customer’s business. It’s a mistake to continue pushing product. You need to sell the business solution. Delta recently went through negotiations with its pilots. The airline was trying to reduce pilots’ salary because it needed to cut costs to stay in business. On the other side, the pilots were looking at how pay cuts would impact not only their salary, but also their retirement package and other benefits. Both Delta and the pilots gave a little and got a little to preserve the pilots’ benefits and the airline’s future. SPJ: When is positional bargaining, like haggling, appropriate and when is it a big mistake? DB: Bargaining and haggling are pitfalls. The other party may come into an interaction with a strong demand or position. You can’t negotiate a position, but if you understand the drivers behind the position you can develop solutions during the negotiation for the underlying problems that are causing people to take that position. Discovering interests behind their position leads to finding common ground on which to agree. SPJ: What types of issues cause people to take certain positions? DB: It comes down to what they think the solution should look like and not being willing to look at alternatives. When people are going to buy a car, for instance, they go on the Internet and do research. They find out what is the manufacturer’s cost and add a margin. That’s what they are willing to pay. They have made an assumption as to how much profit they will allow the dealer to make on that sale. They take a position. But if they only buy the car on price, they may be surprised when the service department is poor. So the salesperson needs to understand and communicate the value he brings and justify his price based on his impact on the business. SPJ: How does the salesperson protect against manipulation and control? DB: First of all, recognize it for what it is and then deal with it as the tactic, as opposed to reacting to it. If a buyer is sitting behind a nice desk and he seats you in a chair across from him that’s eight inches lower than his, just tell him you are not comfortable there and move to another location so you can be eye level with him. Then there’s the tactic where the buyer has a fading memory. They make an agreement and forget what they agreed to. You have to document everything and furnish these notes to all participants after every meeting. That way you have a written trail of what agreements were reached during every negotiation session. SPJ: What do you do when you reach a stalemate? How do you unlock the negotiations when there are no agreeable options? DB: That’s what you call your walk-away position. When you discover it is not going to be a good deal for you and the customer is not wi 5 Steps to a New Job sired outcome is.The economy is picking up, budgets are new, positions are open and companies are hiring. Now is the time to rev up your job search efforts. Use these tips to dramatically improve your results.Get on the job boards and make sure you setup search agents so you get a daily e-mail whenever a new job is posted that meets your criteria. Look for niche boards that focus on your profession.Make sure your resume is great. If your resume has been posted for a while and you have not been getting calls, then run, don’t walk, to a professional resume writing service. This is one of the best hiring times of the year and an investment of a couple of hundred dollars to have a resume that gets you noticed is well worth it.Identify companies that you like and focus on opportunities with them. When you find one, see SPJ: How does the salesperson break the ice, so to speak? What is the best strategy for breaking down those walls of resistance or overcoming salesperson stereotypes at the onset? DB: Have the best interests of the customer in mind--as well as your best interests. Make sure your product or service is a good fit and meets each buyer’s interest. Be sincere and remember, people buy because they believe what you’ve told them. As soon as you ship the product or perform the service, they consciously or subconsciously check back to see if they got what they paid for. Make sure they see the value in what you’ve sold. One of the key things to remember is that negotiation is not an event in itself. It is a process made up of a series of meetings. Communicating the value of your products and services throughout the sales cycle can have a huge impact on negotiations. Negotiation actually begins prior to your first sales call, and doesn’t end until the customer has realized the value of the solution that he bought from you and its positive impact on his business. SPJ: How do you create the perception that you are working with the buyer as opposed to against the buyer? DB: Throughout the sales cycle you are trying to uncover the interests of the customers and what they are trying to fix or accomplish, or, in some cases, avoid. You are trying to understand the buyer’s personal and business drivers. The CEO is looking for something different than the production line manager. What are they tasked with? What are their goals? How are they measured? Cost will always be an issue but it certainly shouldn’t be the deciding factor. SPJ: What are a couple of common negotiation pitfalls and how do you avoid them? DB: Not understanding the business impact your products and services can make on the customer’s business. It’s a mistake to continue pushing product. You need to sell the business solution. Delta recently went through negotiations with its pilots. The airline was trying to reduce pilots’ salary because it needed to cut costs to stay in business. On the other side, the pilots were looking at how pay cuts would impact not only their salary, but also their retirement package and other benefits. Both Delta and the pilots gave a little and got a little to preserve the pilots’ benefits and the airline’s future. SPJ: When is positional bargaining, like haggling, appropriate and when is it a big mistake? DB: Bargaining and haggling are pitfalls. The other party may come into an interaction with a strong demand or position. You can’t negotiate a position, but if you understand the drivers behind the position you can develop solutions during the negotiation for the underlying problems that are causing people to take that position. Discovering interests behind their position leads to finding common ground on which to agree. SPJ: What types of issues cause people to take certain positions? DB: It comes down to what they think the solution should look like and not being willing to look at alternatives. When people are going to buy a car, for instance, they go on the Internet and do research. They find out what is the manufacturer’s cost and add a margin. That’s what they are willing to pay. They have made an assumption as to how much profit they will allow the dealer to make on that sale. They take a position. But if they only buy the car on price, they may be surprised when the service department is poor. So the salesperson needs to understand and communicate the value he brings and justify his price based on his impact on the business. SPJ: How does the salesperson protect against manipulation and control? DB: First of all, recognize it for what it is and then deal with it as the tactic, as opposed to reacting to it. If a buyer is sitting behind a nice desk and he seats you in a chair across from him that’s eight inches lower than his, just tell him you are not comfortable there and move to another location so you can be eye level with him. Then there’s the tactic where the buyer has a fading memory. They make an agreement and forget what they agreed to. You have to document everything and furnish these notes to all participants after every meeting. That way you have a written trail of what agreements were reached during every negotiation session. SPJ: What do you do when you reach a stalemate? How do you unlock the negotiations when there are no agreeable options? DB: That’s what you call your walk-away position. When you discover it is not going to be a good deal for you and the customer is not w Do You Know How To Make Direct Marketing Work For You? h the buyer as opposed to against the buyer? It's tough for any business to do without direct mailing these days. You might mail prospective customers using the Internet or maybe you prefer to rely on the postal system. Maybe you use a combination of both. Whatever your preference, the writing on the wall for any business is clear: you need direct mail. Used effectively, this is your trigger to sales.How do you go about it? You need lists. Maybe you already have one. Use it as a first phase to tell your customers about what you have for them that's new. If you don't have anything new, set about correcting that. Whatever it is - a promotion, free offer, discount, - use direct mail to make sure your customer knows about it. Your product, your company name, must be top of mind for him. This will only happen with reminders.Are emails effective for direc DB: Throughout the sales cycle you are trying to uncover the interests of the customers and what they are trying to fix or accomplish, or, in some cases, avoid. You are trying to understand the buyer’s personal and business drivers. The CEO is looking for something different than the production line manager. What are they tasked with? What are their goals? How are they measured? Cost will always be an issue but it certainly shouldn’t be the deciding factor. SPJ: What are a couple of common negotiation pitfalls and how do you avoid them? DB: Not understanding the business impact your products and services can make on the customer’s business. It’s a mistake to continue pushing product. You need to sell the business solution. Delta recently went through negotiations with its pilots. The airline was trying to reduce pilots’ salary because it needed to cut costs to stay in business. On the other side, the pilots were looking at how pay cuts would impact not only their salary, but also their retirement package and other benefits. Both Delta and the pilots gave a little and got a little to preserve the pilots’ benefits and the airline’s future. SPJ: When is positional bargaining, like haggling, appropriate and when is it a big mistake? DB: Bargaining and haggling are pitfalls. The other party may come into an interaction with a strong demand or position. You can’t negotiate a position, but if you understand the drivers behind the position you can develop solutions during the negotiation for the underlying problems that are causing people to take that position. Discovering interests behind their position leads to finding common ground on which to agree. SPJ: What types of issues cause people to take certain positions? DB: It comes down to what they think the solution should look like and not being willing to look at alternatives. When people are going to buy a car, for instance, they go on the Internet and do research. They find out what is the manufacturer’s cost and add a margin. That’s what they are willing to pay. They have made an assumption as to how much profit they will allow the dealer to make on that sale. They take a position. But if they only buy the car on price, they may be surprised when the service department is poor. So the salesperson needs to understand and communicate the value he brings and justify his price based on his impact on the business. SPJ: How does the salesperson protect against manipulation and control? DB: First of all, recognize it for what it is and then deal with it as the tactic, as opposed to reacting to it. If a buyer is sitting behind a nice desk and he seats you in a chair across from him that’s eight inches lower than his, just tell him you are not comfortable there and move to another location so you can be eye level with him. Then there’s the tactic where the buyer has a fading memory. They make an agreement and forget what they agreed to. You have to document everything and furnish these notes to all participants after every meeting. That way you have a written trail of what agreements were reached during every negotiation session. SPJ: What do you do when you reach a stalemate? How do you unlock the negotiations when there are no agreeable options? DB: That’s what you call your walk-away position. When you discover it is not going to be a good deal for you and the customer is not w How To Hire a Candidate On Contract Basis reserve the pilots’ benefits and the airline’s future.Your search for a professional on contract/project is very different than your search for the full-time employee. Throughout the many years of my recruiting experience, I have collected feedback from employers and candidates alike. Fact: You will hire the candidate primarily because of their personality, chemistry and fit with the rest of the team and the organization. Hand the search over to a reputable staffing agency specializing in the placement of Accounting and Finance Professionals on contract and project basis. Once the agency presented you with the finalists, it is the interview that gives you the opportunity to watch the candidate present themselves at their best. It is the candidate's opportunity to make a positive impression on you. You will be looking to hire the candidate, which is able to "hit the ground SPJ: When is positional bargaining, like haggling, appropriate and when is it a big mistake? DB: Bargaining and haggling are pitfalls. The other party may come into an interaction with a strong demand or position. You can’t negotiate a position, but if you understand the drivers behind the position you can develop solutions during the negotiation for the underlying problems that are causing people to take that position. Discovering interests behind their position leads to finding common ground on which to agree. SPJ: What types of issues cause people to take certain positions? DB: It comes down to what they think the solution should look like and not being willing to look at alternatives. When people are going to buy a car, for instance, they go on the Internet and do research. They find out what is the manufacturer’s cost and add a margin. That’s what they are willing to pay. They have made an assumption as to how much profit they will allow the dealer to make on that sale. They take a position. But if they only buy the car on price, they may be surprised when the service department is poor. So the salesperson needs to understand and communicate the value he brings and justify his price based on his impact on the business. SPJ: How does the salesperson protect against manipulation and control? DB: First of all, recognize it for what it is and then deal with it as the tactic, as opposed to reacting to it. If a buyer is sitting behind a nice desk and he seats you in a chair across from him that’s eight inches lower than his, just tell him you are not comfortable there and move to another location so you can be eye level with him. Then there’s the tactic where the buyer has a fading memory. They make an agreement and forget what they agreed to. You have to document everything and furnish these notes to all participants after every meeting. That way you have a written trail of what agreements were reached during every negotiation session. SPJ: What do you do when you reach a stalemate? How do you unlock the negotiations when there are no agreeable options? DB: That’s what you call your walk-away position. When you discover it is not going to be a good deal for you and the customer is not w Funding A Company Through Venture Capital e department is poor. So the salesperson needs to understand and communicate the value he brings and justify his price based on his impact on the business.What is Venture Capital?Funding a company through venture capital refers to investment made by outside people for the businesses that are either struggling or new and growing. Funding a company through venture capital involves potentially a high degree of risk. However, the potential returns are also far better than the average returns on other types of investments. The people who dare to make such investments are known as venture capitalists. A pool of investments that shows more interest in investing the money of third-party investors in the businesses that are considered more risky according to the market parameters is known as a venture capital fund.The entrepreneurs who are in need of venture capital for their struggling or new businesses always look for this kind of facility. The person who is ideal SPJ: How does the salesperson protect against manipulation and control? DB: First of all, recognize it for what it is and then deal with it as the tactic, as opposed to reacting to it. If a buyer is sitting behind a nice desk and he seats you in a chair across from him that’s eight inches lower than his, just tell him you are not comfortable there and move to another location so you can be eye level with him. Then there’s the tactic where the buyer has a fading memory. They make an agreement and forget what they agreed to. You have to document everything and furnish these notes to all participants after every meeting. That way you have a written trail of what agreements were reached during every negotiation session. SPJ: What do you do when you reach a stalemate? How do you unlock the negotiations when there are no agreeable options? DB: That’s what you call your walk-away position. When you discover it is not going to be a good deal for you and the customer is not willing to consider alternatives, then just walk away from that bad business. Salespeople have a tendency to not want to lose any deal, no matter what the cost. That can cause you to write unprofitable business. SPJ: How do you close the sale without coercion? DB: Get in agreement on all points and simply ask for the business. We try to put together a package of options that meet the needs of both parties and get agreement on each one of those options. Get agreement on the easy things first--but make sure each individual agreement is contingent on coming to a final agreement on all the issues. Start by developing solutions to mutual interests first, and then go to the harder points. Then you can bring it home.
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