Leading Value to Your Target Customer

Leading Technology

Leadership metrics are almost always visible from an organization’s bottom-line. And nowhere is this more clear than in sales and growth figures.

But how does a leader retain existing customers and grow with new ones?

Reeling in a new customer and getting them to commit to buying a product or service takes time and money, and it can be kind of tricky since customers can be forgetful, finicky and often have no loyalty to a business.

It is really up to an entrepreneur or business employees to create that loyalty and make sure a great long-term relationship with the customer.

Re-Targeting Your Target Customer

If you’re looking to do this, make sure to re-target any potential customers in a tactful, inexpensive and efficient manner. Of course, this is easier said than done as it is not that easy to do without the possibility of causing some strife with the customer.

With this in mind, here is a quick guide on re-targeting a customer.

Follow-Up Phone Call or Email

When selling a product or service, a business should not stop at this point. No, instead, an employee should call the client and ask them if they have any questions, need any help or want to buy any more products. Now, when doing this, it is important to make it sound genuine and not like a sales call.

Customers will catch on and will grow frustrated with a sales call in the middle of the day.

However, when making it about the customers’ needs and wants, a business will go a long way in closing another sale and creating a better relationship with the customer. There are massive amounts of data available on when to do a follow-up call or email.

Mail

With a simple postcard, flyer or letter, a company can reach out to a current satisfied customer. With a target direct mail list, an entrepreneur will be a step ahead of the competition who is lost when looking for clients. In the postcard or letter, a company should send a coupon discount code for the current client.

At the same time, it is wise to stay cordial, respectful and informative.

To do so without spending a lot of money or using much effort, one should also keep it personal and put the first and last name of the customer on the letterhead. Otherwise, with an informal and indirect approach, one will possibly anger the receiver of a letter. Remember, a wise customer will sniff out a promotional flyer, and a business that can fly under the radar will enjoy a higher conversion rate when using direct mail.

Email

In this day and age, email is popular and most people will have an address or two. For this reason, this is a cost-effective and easy medium for one to communicate with clients. Now, it is important to avoid sending out spam messages as people will quickly tire of sales pitches or marketing material. Instead, when sending out emails, a business should opt for a calm approach and try to give value to the client.

The easiest way to do so is to offer free shipping or a coupon code for a discount on a future purchase.

By doing this, and complying with all spam regulations, a company can reach out to clients without spending much money or time. At the same time, customers will appreciate freebies or discounts as most people love a good bargain.

Social Media

Now, more than ever, one should use social media to communicate with current and potential customers. Just like with email, it is wise to avoid annoying or otherwise bothering customers. However, when offering true value or support to a client, one can go a long way in securing another sale.

Since social media is relatively new, most people will not have a problem receiving marketing messages as it is a cool and unique way to communicate. Of course, a company should keep it tactful and avoid sending out too many messages to followers.

When running an organization, it is crucial to re-target old customers. Without this step, a business will have to spend too much money on marketing and will likely have a hard time finding success in its niche.

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Robert Cordray

Robert Cordray is a freelance writer with over 20 years of business experience
He does the occasional business consult to help increase employee morale
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On Leadership, Feedback and the Fuel of Achievement

“True intuitive expertise is learned from prolonged experience with good feedback on mistakes.” ~ Daniel Kahneman

The experience of giving and receiving feedback at best is a wonderful and enlivening experience, and at its worst can de-motivate and drive wedges between managers and their reports.

As Marcus Buckingham and Curt Coffman said “People join companies but leave managers.

So is it the sole responsibility of managers to look after feedback? This theme invites you as a leader to take a more global view of feedback by fundamentally re-framing why it is needed, how it is done, what might be the overall benefits, consequences which can arise and what is everyone going to do about it?

Leaders cannot work in a vacuum. They may take on larger, seemingly more important roles in an organization, but this does not exclude them from asking for and using feedback. In fact, a leader arguably needs feedback more so than anyone else. It’s what helps a leader respond appropriately to events in pursuit of successful outcomes.” ~ Jack Canfield

Feedback Gone Wrong

A major Achilles heel of typical feedback is that it is only viewed as an interaction between a manager and an individual report or possibly a team. It’s often one-way traffic and an unpleasant experience for those receiving feedback. Reasons for this may arise from poor manager awareness, poor training, pressure, etc. but perhaps the most pernicious is patchiness in the quality and quantity of feedback.

Interpersonal feedback functions best as an integral component of an organisation’s overall multidimensional communications system. The intention is to establish an atmosphere where senior management elicits information, opinion and perceptions from their staff, acts on them and reports back on their actions.

6-Stage Process for Feedback

Jack Stahl’s (Revlon’s CEO) 6-stage process for feedback aligns organisational conversations and manager – report feedback.

 

  Individual & Organisational Feedback
Stage 1 Value the person/people
Stage 2 Identify personal/organisational challenges
Stage 3 Provide targeted meaningful feedback
Stage 4 Identify and agree areas for improvement/development
Stage 5 Identify and agree benefits and consequences of improvement options
Stage 6 Commit your support and reaffirm person/staffs effort and value

 

Feedback is generally most effective when considered as part of staff engagement efforts as described by Gruman and Sacs in their research published in Human Resource management Review.

Setting the Tone

It’s vital for leaders to set the tone by encouraging an overall culture of open information exchange to develop (supported by robust and accessible HR & IT systems) making it possible to:

  1. Provide safe environments to build trust based on knowledge and rapport.
  2. Exchange authentic criticism and affirmative feedback
  3. Establish a cultural norm based on accepted feedback behaviours.
  4. Create feedback based on personal and organisational accountability

Steve Jobs says it all in his interview on managing people and the Apple ideas-based ethos.

He said, ideas always beat hierarchy.”

Re-framing Our Perceptions

If we re-frame our perception of and intention for feedback to mean honest, authentic, empathic, creative, effective  and productive conversation across an entire organisation then great things will follow.

Your Actions Today

  • Does your organisation have a communication system aligned with interpersonal feedback practices?
  • Do your reports get to provide feedback on you do you listen and do you act on it?
  • On a scale of 1 to 10 (with 10 most effective) do you know how effective your feedback to reports actually is?
  • Does your organisation act upon synthesised from all staff feedback?

Recommended Reading

Feedback Revolution: -From Water Cooler Conversations To Annual Reviews — HOW TO GIVE AND RECEIVE EFFECTIVE FEEDBACK – Peter McLaughlin

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Gary Coulton

Dr Gary R Coulton is CEO of Adaptive Intelligence Consulting Limited
He empowers leaders to release their Adaptive Intelligence
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On Leadership and Morning Routines

Businessman Breakfast

Hey Leader: Does Your Morning Routine Matter?

“For the past 33 years, I have looked in the mirror every morning and asked myself: ‘If today were the last day of my life, would I want to do what I am about to do today?’ And whenever the answer has been no for too many days in a row, I know I need to change something.” – Steve Jobs

Successful CEOs and business leaders have different ways of starting their days. Some depend on established routines, mapped out almost minute-to-minute, in order to extract the greatest productivity out of every day.

Others take a more chaotic approach, believing that winging it actually gets more done than some preordained system.

Top 3 Things in the Morning

The sheer variety by which CEOs and others start the day begs the question — does your morning routine really matter?

Yes, says corporate wellness coach Mike Iamele, and here’s why:

Three compelling reasons for a morning routine

  1. This is ideally the time to focus on yourself (there may not be another chance to do so all day). This is when you “consistently remind yourself that you’ve got to take care of yourself first before you can possibly be effective at helping others.” Those who adhere to a regular routine generally get more done because their morning routine acts as a reminder to first of all, take care of yourself.
  1. An established morning routine doesn’t have to be perfect — you don’t have to run five miles every day, your eggs don’t have to be perfectly cooked, etc. What truly matters is your willingness to get up and get moving according to a set pattern that propels you through the day. As Iamele says, “The fear of failure can’t hold you back, because if you do it every day, you’re inevitably going to fail once in a while. But that’s OK. You’ve got a routine, so you just get up the next day and do it again.”
  1. The previous day may have been difficult, overly demanding, even a bit traumatic. A solid morning routine acts as a “reset button” — a time to pause, meditate and shake yourself free of yesterday’s distress.

Breakfast Counts

Not everyone needs a big breakfast to get moving in the morning. But health experts generally agree some type of breakfast is important for your physical health.

If preparing breakfast seems to take too much time, consider doing some prep work the night before. Slice up the fruit you intend to eat and store it in the refrigerator. Set out dishes you plan to use. Do everything you can to hit the ground running come morning.

Keeping things simple is another no-nonsense approach. For many people, a cup of coffee and an oatmeal muffin will suffice — or some other easy option like yogurt with fruit, a frozen fruit smoothie or a peanut butter breakfast bar.

Exercise Makes a Big Difference

Exercising at the crack of dawn isn’t for everyone, but even a little bit of physical movement can help clear your mind for the day ahead.

The good news is you don’t have to do the same type of workout every day.

Running, push-ups, swimming laps — whatever you choose, some strenuous activity boosts your energy level and helps you stay charged and focused throughout the day.

Start the Morning the Night Before

Some business leaders incorporate a brief evening ritual into their daily routine. At the end of the day, for example, Kenneth Chenault, CEO of American Express, writes down the three top things he intends to accomplish the following day.

He uses that list to get started in the morning.

Tackle the Hardest Stuff First

Once you’re in the office, don’t waste valuable creative time looking over emails or listening to voicemails. “In many ways, these are among the worst ways to start a day,” says Kevan Lee of Buffer.

Both activities hijack our focus and put us in a reactive mode, where other people’s priorities take center stage.”

A growing school of thought proposes that CEOs tackle their most challenging task or project at the beginning of the day. Proponents cite the fact that for most of us, the early hours of our workday are our most creative, energetic and productive (or have the potential to be). Why waste that precious time and energy on niggling administrative matters or chitchat with others that gets nothing done?

Corporate trainer Jennifer Cohen urges business leaders to start the day by focusing on what they least want to do.

Instead of anticipating the unpleasantness of it from first coffee through your lunch break, get it out of the way,” she says. “Look at this way, your day will get progressively easier, not the other way around.

What’s your tried-and-true morning routine? Do you have a favorite breakfast item to start the day? What’s the first thing you do when you get to the office? I would love to hear your thoughts!

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——————–

Kristen Gramigna is Chief Marketing Officer for BluePay
She serves in Sales, Operations, coordinating, and Business Development
Email |

On Leadership, Lying and Breaking The Honor Code

When a large, trusted and well-established institution gets caught in a public lie, the entire code of honor is at risk of failure. Leading like this is poisonous to the entire entity and everything for which it stands. 

When honor is broken, what comes next?

How Emory University Failed Its Own Honor Code

The revelation (see related article from the Atlanta Journal-Constitution) by leaders at Emory University that a former Dean of Admissions had been supplying false data (lying) when reporting the SAT scores and Class Ranking of  incoming students has been a great disappointment to the city of Atlanta, and a revelation throughout the country.

If high-level leaders at a university renown for quality education and ethical values are violating the very basic rule of honor–tell the truth–then what must be going on elsewhere?

In fact, this is not the first revelation of such false reporting by a university trying to gain an edge in competing for annual rankings in sources like US News & World Report.

As in other professions, it appears that for some leaders, any means can be justified when the end goal has implications of gaining power, money, and influence or protecting their prestige or position.

Widespread Leadership Issue

We have become accustomed to seeing dishonorable leaders in politics–after all, they thrive on publicity and when they get in trouble, their high profile role makes them magnets for media attention.

But, when we learn that administrators from a highly regarded university are playing just as dirty as many back room politicians or businesspeople, we must conclude that the problem is deep and wide, transcending every profession at every level.

We should not be surprised; after all, we are all cut from the same cloth—we are fallible and flawed human beings.

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Living By Your Words

The Emory University honor code, as posted online, has as its very first point, “…the University community assumes high standards of courtesy, integrity and responsibility in all of its members.”  But we make a great mistake when we assume integrity, even our own.  Events such as this provide a reminder that we must know ourselves and regularly check our own moral compass.

“Trying to take the easy way based on fear is taking out good men and women at a rapid pace.  We all suffer each time one falls. We tend to become more cynical, and at the same time our cultural standards of right and wrong drop another notch.”

Every day we face decisions that have honor implications and we must regularly re-examine our commitments and behaviors.  Additionally, we need to regularly seek counsel from close comrades who have very high standards who will give us counsel on our questionable decisions.

The bottom line is that we can’t assume that we (or others) are above dishonorable behavior.

We are most at risk when we become afraid about what could happen. Trying to take the easy way based on fear is taking out good men and women at a rapid pace.  We all suffer each time one falls. We tend to become more cynical, and at the same time our cultural standards of right and wrong drop another notch.

Going Back to Our Foundation as Leaders

The foundation for living and leading with honor is courage.  Every day we will be faced with fears and temptations to take the easy way out.  Only with a commitment to a code of honor will we have the courage to choose to do the right thing, because the right thing is usually the hard way.

Remember, all discipline in the moment seems difficult, but in the end brings peace and true success.

Do you assume your integrity?  What are you doing to make this assumption a reality in your life?  Do you have someone with whom you discuss difficult decisions, someone who can give counsel based on high standards and an objective viewpoint?

I hope you will join in this discussion and share your experiences.  Do you agree that it’s dangerous to assume your integrity?  How do you manage this key area of your life?

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——————–
Lee Ellis


Lee Ellis is Founder & President of Leadership Freedom LLC & FreedomStar Media.
He is a leadership consultant and expert in teambuilding, executive development & assessments
Email | LinkedIn | Web | Blog | Book | Facebook | Twitter

His latest book is called Leading with Honor: Leadership Lessons from the Hanoi Hilton.

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Leadership and Truth Found in a Comma

Commas

I just lost thousands of dollars because of a punctuation mark. A comma, of course.

Yes, a simple comma cost me much in a legal case.

The Little Stuff Counts

The Story of a Comma

Excited to move my business practice ahead, a contract was on my desk to sign. The agreement to hire and gain more sales was attractive. I was thinking this was a legitimate proposal and was not thinking that it might be a scam.

I looked over the contract and read the expectations that the service would be rendered without any hitches. I was eager to move the business forward. The contract was simple, just a couple of pages, and did not seem to need any more proof reading.

Flash Forward

Now, three months later, I am listening to the voice of the court clerk asking me to read the name of the business that had not kept its agreement and had been over paid for services not rendered.

  • I read the name.
  • Again, I read the business name.
  • A little confused, I read the business name once more.
  • The court clerk, asked me again to read the name of the business.
  • Again, I read the name.
  • What was I missing?
  • The court clerk then asked me if I could see the comma?

I looked carefully at the corporate register’s search document and saw that a small comma in the business name was visible.

What Did That Comma Mean?

A Stupid, Stupid Comma

The comma was a part of the business legal name and when the comma was left out of the Affidavit of Service it would cause the case I was filing nullified. A little item like a comma could play a significant part in the outcome of the complaint I had. A little object, like a comma could cost me thousands of dollars.

Few businesses use a comma in their name and surprised I  learned the comma was a ‘red flag’ to the court clerk. For me, it was not something I had expected. This made me realize that lies are often subtle and rarely expected.

A small comma is like a small lie. It can seem insignificant but have multiple impacts. The comma could have stopped the legal process. The comma could have prevented justice. The comma could have …blah, blah, blah…

A Comma in a Business Name

The legal name of the parties involved in a contract is a very important consideration. A small oversight such as a comma in the legal business name can nullify a court proceeding. To make sure that the document is correctly written, a corporate profile search undertaken at a registry office.

This double-checks that the legal name matches the contractual agreement. If a civil court case ensues this documentation is helpful. Some companies know a case loses because of this small oversight, so do the research before going to court.

How Prepared are You When Signing Contracts?

Your Ethical Journey

Business leadership is an ethical journey but sometimes unethical people lay snares that entangle and cause serious disruptions in the day-to-day operations. Therefore, contracts are an important source of truth and writing one carefully can save future misunderstandings, reduce operational headaches and risk.

All written contracts should make sure that both parties are evenly and fairly represented. The contract is a binding document that is easily to interpret and to follow.

Leadership and Truth in a Legal Agreement

Legal clauses are crucial in interpretation from what the contract states to meaning from the words written. The contract states and clarifies short and long-term commitments. The legal clause are found in change in control agreements, publishing agreements, speaking contracts, etc.

Legal clauses are disclaimers, non-disclosure statements and business-marketing strategy agreements.

Understanding detailed legal statements requires expertise beyond the scope of this blog; however the point that legal jargon is relevant and important for leaders is critical.

Truth in a legal contract is a trust that extends to both parties of the agreement. The buyer and the seller in a contract want to gain from the relationship. Neither expects the other to defraud. However, fraud results as the outcome of side-stepped truth.

So, just like the comma is a ‘red flag’ to keep in mind to prevent possible snares documentation is also important.

Solidify Your Business Contract

Documentation is the single biggest reason projects succeed. To write successful contracts include statements that are meaningful and understandable.

The following sentence will show a good deliverable.

Target decision makers called without allowing no downtime in the campaign.

The following sentence will show a better way to write a good deliverable.

Target decision makers have a website that is under performing with a page rank of 0-3; and furthermore allowing no downtime in the campaign hours between 8:00 AM to 1:00 PM on weekdays.”

Good Leadership Documents Outcomes

The best way to decide if the contractual agreement works is to document outcomes.

Create a spreadsheet to track the obligations of the buyer and the seller; such as, the date, name and deliverable in the contract on the spreadsheet.  Documentation of calls, emails, personal and business meetings recorded give evidence.

In the following contract, three key questions see whether excessive downtime caused problems in the campaign.

“Target decision makers have a website that is under performing with a page rank of 0-3; and furthermore allowing no downtime in the campaign hours between 8:00 AM to 1:00 PM on weekdays.”

  • Were the decision makers called?
  • Did the campaign run on the expected hours?
  • If a website was under performing did they get help?

This documentation of outcomes reduces anxiety and measures expectations realistically.

Truth is justified when seen with evidence. For example, get the evidence that your website is not under performing with critical web analytics today. Gain confidence knowing your management and leadership performance with executive video assessments. Documented outcomes are how leaders can solidify their businesses.

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Q: So then, what documented outcomes do you value?

A: Please post your comment below. I would love to hear your thoughts!

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——————–
Loreen Sherman

Loreen Sherman is CEO of Star-Ting Inc | Executive Coach | Sr. Mgmt. Consultant
She serves clients with a 3-D Analytic Assessments and Succession Planning
Email | LinkedIn | Twitter | Web | Corporate | Booking | ☎ 
403.289.2292

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On Leadership, Fear and The Under Use of Power

Power Button

Years ago I shared an office in a house that had been converted to offices for independent practitioners. One day, in a session with a client, things admittedly got a little noisy.

The next day, I found a typewritten letter under my door, addressed to “The Occupants of Room 4.”

It read:

“On Wednesday April 16th, at approximately 10 am, there was an excessive amount of noise from Room 4 that disturbed the other tenants. Please be reminded this is a shared building, and noise should be kept to a minimum.”

It was signed by Greg, the physical therapist upstairs. I saw this guy every day on my coffee break.

So What’s Up?

Since I know this guy and saw him every day, I wondered why didn’t he simply knock on my door and ask me to keep it down? Or why didn’t he just leave a note in my box, asking me to be more sensitive next time? So in response, I wrote him a note of apology and agreed to keep it down.

But his method of notifying me really bothered me. Why did Greg have to act so bureaucratic when we had a friendly, collegial relationship. I thought about it for weeks, and then it struck me. Greg felt weak.

He was afraid to approach me directly, so he relied on rules, on legalese, rather than on our relationship.

The Under Use of Power

When we think of the misuse of power, our thoughts inevitably fly to the headline grabbers: the tyrants and bullies, schemers and scammers, or our first boss or sixth grade teacher.

Yet surprisingly, some of the biggest power problems stem from under use, not overuse of power.

Like Greg, not being comfortable with power, not identifying with one’s authority, whether it stems from a formal position, or an informal personal power, can cause just as much conflict and mayhem as does the overuse and abuse of power.

As John Adams said:

“It is weakness, rather than wickedness, which renders men unfit to be trusted with unlimited power.”

Immature Understanding of Power

The cliché, “I won’t be like my mother (or father)” holds especially true when it comes to power. We grow up in a context where power was used on us: by parents, siblings, on the playground, by teachers, and other adults. If we’re lucky, we were the beneficiaries of good, healthy uses of power. Chances are we weren’t entirely lucky.

A common response we develop is to blame power and to determine never to misuse it. But, here’s the thing: The more you hate it, the worse you’ll use it. You can’t enact authority simply by vowing “never to be like others.”

Hating power is the worst preparation you can have for occupying a position of authority.

The challenges I see in my coaching practice more often are the “Greg variety,” more often stem from avoiding using our authority, and trying to minimize our power footprint.

But these following behaviors wreak just as much havoc – albeit a different kind of havoc.

4 Misuses of Power

1) Avoiding Difficult Conversations

Trying to avoid one difficult conversation quickly spirals into a department wide mess.

  • A boss who refuses to deal with the conflict on her team, hoping it’ll just “work itself out,” is at risk of losing valuable team members.
  • Teachers who don’t take control of classroom dynamics let unsafe atmospheres detract from learning.
  • Team leaders who won’t intervene when someone dominates the meeting allow projects to degenerate into frustrating and pointless endeavors.
  • Parents who don’t set limits inadvertently teach their children that they’ll always get their way in relationships, and never develop the self-discipline and frustration tolerance necessary to work towards goals.  

Maybe we’re afraid of conflict, or just want to side step the awkwardness, but if things aren’t already ‘working themselves out,’ chances are they will just get worse without some kind of intervention.

2)  Not Making the Tough Call

Discussion airs issues and is good for creative problem solving, and an egalitarian atmosphere is critical for open discussion. But at some point, decisions have to be made. Too much discussion inevitably plunges a group into conflict. If a leader is vague, uncertain, or hesitant to make decisions, it creates chaos, confusion and conflict for others.

People don’t know what to do, outcomes are uncertain, work is often done for naught. And in the leadership void created by uncertainty, people jump in and fight for the reins.

The group can spend a lot of time sorting through conflicts about direction and inevitably get mired in power struggles. When power is not directly inhabited, it doesn’t just disappear but seeps into the interactional field, and is contested there, without awareness and without facilitation.

It’s an extremely exhausting and taxing process for organizations.

3) Using Too Much Ammo

Feeling like you have too little power often leads to the opposite: using more firepower than the situation calls for. If you underestimate your own rank, and are convinced you’re the weaker party, you tend to increase your fire power.

You use too much ammo out of fear you’ll be defeated, or not getting your point across. Whenever we feel one-down, we use extra force. We don’t see that we come across as an aggressor, and then we interpret the other’s defensive response as proof that they are the aggressor.

We then increase our firepower yet again, and suddenly we’re in a runaway escalation of our own making.

4) Relying On rules

Like Greg, who wrote me the officious letter about noise, reaching for a rule before trying to address things through relationship can create rather than resolve conflict. It stems from feeling weak. Unable to represent our side without an ally, we cc the boss, HR, or others onto the email.

Or, we threaten indirectly, by sounding legal or referring to procedures.

But reaching for rules, guidelines, or procedures when things go awry, or as a way to influence someone, should be a last resort, not a first step.

Just because power can be used poorly, and often is used poorly, doesn’t mean we need to avoid it. We need power. We need strength to be direct, to have tough conversations, to take responsibility, to minimize conflict, and most importantly, as leaders, to develop those around us.

So, are you guilty of misusing power by not using it wisely? Or are you subject to this in your workplace, home, or recreational life? How can you improve your understand of power and use it more effectively as you lead others? I would love to hear your thoughts!

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——————–
Julie Diamond

Julie Diamond is a Leadership Consultant, Coach, and Trainer
She specializes in Designing and Delivering Leadership Development Programs
Email | LinkedIn | Twitter | Facebook | Web | Blog | Skype: juliediamond8559

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Hey Leader: Is Negotiation Art or Science?

Art or Science

Every leader has to negotiate things. And they have to do this on a regular basis. So how is the best way to see this skill?

Is negotiation more of an art form that you get better at over time or a scientific formula that you can plug in and get results whenever you want?

The answer to that question is somewhere in the middle of those two extremes. While there are items that every party will be after when negotiating a deal, there are also some factors to a successful negotiation that are unique to the other party in the deal.

Why Negotiation Can Be Seen as a Science

Negotiation may be seen as a science because there are actions that you can take to increase the odds of getting a good deal. For example, threatening to get up and walk away from the table can pressure almost anyone into making a concession.

This is because making that one concession may be easier than losing an entire deal and the money that may come with it.

Another tactic that may work on almost anyone is to imply that there are other offers on the table. The goal is to make the other person think that the other party can walk away and get the same or better deal elsewhere. If the other side thinks that the deal may be off the table or the terms will get progressively worse, the other side may jump at the offer even if it’s not the best possible deal for that side.

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Why Negotiation Can Be Seen as an Art

Negotiation could be seen as an art form because you have to use your words and body language to get the other party to overcome their objections. For example, if someone wanted to charge $50 an hour for their work and the other party only wants to pay $40 an hour, the party that wants more money will need to convince his adversary in negotiations that $50 is actually a bargain.

This can be done by arguing that paying less than the desired rate will achieve a less than desired result. It may also be possible to argue that paying the lower rate may make a project less of a priority for the party seeking the extra money.

For a top-tier professional, it may not be a big deal if one client walks away as he or she could have several more.

Therefore, the party that wants to pay less may ultimately cave because they want the best possible work from whomever is hired. In this way, the negotiation centers around who have the leverage and who is willing to use that leverage to set expectations and overcome objections.

How to Learn the Best Way to Negotiate

Whether an individual sees negotiation as a science or an art form, it is important to know how to negotiate to get what he or she wants from a given deal. The good news is that negotiation training classes may be made available for self-employed business people or through an employer if an individual wants to make him or herself more marketable to that employer.

By taking these classes, it will be possible to learn how to overcome objections, how to manage expectations and how to tell others what they want to hear to ultimately agree to a deal. The art of compromise will also be taught, which will help those negotiating a deal understand when it is a good idea to concede something in return for something that needs to be included in the final agreement.

Negotiating effectively is not always an easy thing to do.

This is because you have to establish your leverage, manage the egos of one or more other parties to a deal and make sure that you don’t overplay your own hand. This is why it may take many years to become a shrewd dealer who typically gets what he or she wants from others.

 

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Robert Cordray

Robert Cordray is a freelance writer with over 20 years of business experience
He does the occasional business consult to help increase employee morale
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Image Sources: huffingtonpost.com

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