Blogs
Yesterday, Ron Shapiro was interviewed by WBAL radio about his upcoming book: Perfecting Your Pitch: How To Succeed In Business And In Life.
To listen to the interview and read more from WBAL click: here
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:19am</span>
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Shapiro Negotiations Institute Announces Founder
Ron Shapiro’s New Book, Perfecting Your Pitch,
Written to Help Readers Prepare for Life’s Challenging Conversations
Expert Negotiator, Sports Agent and New York Times Best-Selling Author Shapiro Releases Perfecting Your Pitch: How to Succeed in Business and in Life by Finding Words That Work
Baltimore, Md., Nov. 19, 2013 - Today, Shapiro Negotiations Institute (SNI), a premier global performance improvement firm, announced the release of founder Ron Shapiro’s new book, Perfecting Your Pitch: How to Succeed in Business and in Life by Finding Words That Work. Shapiro, best known for his representation of more Major League Baseball Hall of Fame players than any other agent, focuses on how to tackle difficult conversations head on in his latest work.
Shapiro is the co-founder of SNI, which has trained over 350,000 people in sales, negotiation and influencing skills. His techniques have helped resolve a national symphony orchestra strike, facilitate solutions to human relations problems, and reconcile disputes in the government and corporate worlds.
"We’ve all found ourselves in delicate situations - perhaps an important conversation with a spouse, customer or boss … Days later, we might imagine the salient points we wish we had made if we’d planned ahead," Shapiro writes in Perfecting Your Pitch.
Perfecting Your Pitch offers 40 model scripts to help readers make a budget request, interview for a job, end a relationship, or talk to children about divorce. Using real-life examples, Shapiro walks readers step-by-step through the crucial, but simple, process of creating effective messages. This systematic approach to difficult conversations reduces stress and helps overcome fears to dramatically increase the chances of effectively achieving desired results.
New York Times best-selling authors Daniel Pink and Adam Grant, NBC Anchor-at-Large Ann Curry, head coach of the SuperBowl XLVII Champion Baltimore Ravens, John Harbaugh, and T. Rowe Price Chairman Brian C. Rogers have, among others, provided endorsements for Shapiro’s latest title, which follows his three previous books, The Power of Nice: How to Negotiate So Everyone Wins - Especially You!; Dare to Prepare: How to Win Before You Begin;and Bullies, Tyrants, and Impossible People: How to Beat Them Without Joining Them.
"Perfecting Your Pitch covers a staggering array of life situations, from salary negotiations to personal relationships, in which a wrong word or an inept phrase could mean the difference between success and failure," says Daniel H. Pink, author of To Sell Is Human and Drive. "Sometimes you only get one chance to ask for what you want or express how you feel - and this book is the perfect guide to help you make the most of those opportunities."
To learn more or to purchase Perfecting Your Pitch, visit http://www.shapironegotiations.com/Perfecting-Your-Pitch.html. The book is available now in print and ebook formats from Amazon and Barnes & Noble.
About Shapiro Negotiations Institute
Shapiro Negotiations Institute is a premier global performance improvement firm focused on sales, negotiation and influencing. The focus of SNI is on maximizing its clients’ ability to create mutually beneficial and profitable long-term relationships with peers, vendors and customers, both internal and external to the organization. SNI’s success is built on helping professionals at all levels use a systematic approach to get more accomplished, faster and with a higher degree of effectiveness. By taking years of lessons learned in real-life situations, SNI digs into specific industry and client challenges so that its tools and techniques can be used immediately and repeated with precision. Follow SNI on Twitter, LinkedIn or Facebook or learn more at http://www.shapironegotiations.com.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:19am</span>
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The good news is that these days, thanks to modern meeting-based software tools and technology, the amount of people suffering from PowerPoint overdose has significantly decreased. In fact, getting the most out of your annual sales meeting can be both fun and less of a headache.
In this article we’re going to look at tips you can use to transform critical annual sales meetings into powerful allies against the hypercompetitive and fast-paced marketplace. It’s about keeping attention, giving crucial updates to your sales team, directing focus, priming the wheels for the year to come and inspiring better performance. Let’s get to it.
Tip #1: Condense & Consolidate
It’s literally impossible to keep the human mind engaged at a certain peak level for long. Ask any college professor. Furthermore, the surface intellect can only take in so much information at once before complete loss of focus. Don’t try to stuff every little bit of information in.
Cherry-pick the most important, the most relevant and the most inspiring information for the audience.
To keep the momentum going make sure you aren’t repeating the same information over and over again. All that does is waste time and attention spans!
Stick to the point. Stay on topic. Listen to your guy and when the room begins to get heavy, lighten things up by moving forward.
Stay aware of the clock, but don’t get caught looking at it. If this is your first rodeo, keep a watch somewhere that you can see it but no one else can. As long as you continue to advance the conversation and progress in a timely manner, you’ll get solid results.
Tip #2: Employ Unexpected Formats
There’s really no reason to dim the lights and give a generic PowerPoint presentation anymore. This is the age of virtual meetings and unprecedented conference room software. There are applications around like for example, iMeet, that can add some interaction. In reality the sky is the limit.
If you’re going to incorporate some video, that’s great but don’t choose something dry. What’s wrong with a little music?
Bring in a guest speaker via Skype, include social media aspects (LinkedIn posts), layer in some audio and employ software that adds contemporary spice to an old business tradition.
Remember that the more senses you ask your audience to use, the more into the experience they’ll be. And, the longer the impression afterwards will last. What you’re saying really matters!
Tip #3: Personalize the Presentations
Engage your sales team on a personal level without letting things go too far. Make sure to provide time, or intermingle it throughout the presentation, where they’re voices and opinions can be heard and discussed. A more organic dynamic can go a long ways to getting to the real nitty gritty.
When you present numbers, don’t deliver them as cold data. That’s hard work in action. That’s blood, sweat and tears. Involve the folks that those numbers represent. They’ll pay far better attention that way.
Getting feedback is a way to personalize presentations and turn hard facts into interesting conversations that can really bring out the best.
No one likes an informal info-dump, so personalize it and watch how much more fulfilling it will be for everyone involved.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:19am</span>
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Customer relationship management (CRM) is evolving almost on a monthly basis. What it’s taken to get here is almost unbelievable in terms of programming, technological progress and boundary-pushing software innovation. Over the last few years enterprise has been adapting to this tsunami of information, learning how to filter it and implement what they learn.
The utilization of business-based metrics is absolutely critical in our modern hypercompetitive environment where 70% of the consumer journey takes place online. Within a few years from right now hundreds of millions of people will join the internet marketplace as well. By then, CRM efficiency will have increased ten-fold.
Here are the three ways to increase the amount of bang you get for your CRM buck moving forward.
#1) Develop a Holistic Data-Driven Approach
Part of bringing your CRM systems to their full potential is allowing the data to become a transparent part of everything. From top to bottom the business needs to become holistically data-driven. That’s not to say completely cold. It means that hard data needs to be at the forefront of all sales and marketing decisions.
The sales team is likely accustomed to this mindset already, but how about everybody else within the organization?
All internal activity can be tracked now, and used to increase efficiency. Measure. Train. Optimize.
Because data now governs the marketing world, both online and otherwise, it must be layered throughout all initiatives and mediums.
#2) Choose 5 Primary-Focus Points
It’s almost too easy to drown in information. Or, spend a fortune on digital mountains of data that at the end of the day your organization really doesn’t need. Instead of trying to overwhelm yourself into metrics oblivion, choose 5 primary focus points. Don’t think you’re stuck with the five you choose, because to survive these days takes consistent adaptation.
Start simple rather than going for the most complicated and expensive forms of tracking information.
When choosing which metrics to focus on, ascertain which provide the most insight and bridge the most gaps between you and your clients or customers. What provides the most visibility, and accountability?
Three of the big hitters for modern companies are going to be volume, overall and specific sales funnel conversion rates and the speed at which platforms are expanding.
#3) Merge Sales & Marketing Forces
Because the sales and marketing environments are progressing as the modern world does, it’s important to define them as you go. Where is the line between them? As Bonnie Crater puts it,
"Have clear definition of stages, steps, processes, and hand off. Be sure they are well understood and documented. It is time for sales and marketing to become BFFs."
CRM is quickly becoming one of the most powerful and influential tools for modern businesses. No brand can expect to "wing it" and compete without serious CRM. Everything is being tracked, and this information is critical! Through implementing these three tips and then growing as your CRM grows, you can get the most out of it.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:19am</span>
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As an authoritative training and consulting firm it’s our business to be up on trends that directly influence our clients. Because we travel all over the world to provide training, our perspective on where things are going as we head into 2014 is rather unique. Here are the three most important sales training trends to keep an eye on.
Trend #1: In-depth Ideal Customer Models
Welcome to the era of big data. Sales trainers today can show their trainees how to get digital mountains of information on ideal clients and customers that simply wasn’t there 3 years ago. This emerging ability of sales forces to learn about their customers and deliver product/service information in new and creative ways is fueling a more inbound sales model.
Capturing leads and new accounts these days has less to do with outbound techniques, and more to do with using the power of information to draw ideal clients into sales funnels.
Vast tracking data makes it easier to pin-point customer needs. This in turn allows companies to see drastic improvements in upsell and cross-selling numbers.
Teams can use this customer information to approach them for more than one angle at a time.
Trend #2: Social Media Integration
Social networking platforms like Facebook, Pinterest, Twitter and especially LinkedIn are making their way into sales training as a matter of course. Where does social media begin and the sales funnel begin? Internally and externally social media is playing a bigger and bigger role in modern consumerism.
Social media connects sales representatives with each other, with management, with all the varying departments within the organization and with customers.
Externally social media is a battlegrounds where brand expansion takes place. Sales training increasingly teaches business leaders and sales people how to leverage thse networks.
Social media is an incredible resource for customer insight and analytics. In the right hands this information translates into higher performance and a more effective sales team.
Trend #3: Efficiency Focused & Bottom Lines
Speaking of effectiveness. That’s the name of the game across the board. This is an age of ultimate efficiency from the way we run our businesses and fuel our cars, to how we heat our homes and expand a bottom line. Nearly every conventional sales training technique has been sliced and diced to suit a fast-paced hypercompetitive marketplace.
According to a CSO Insights Trend Report that came out in 2012, revenue is the absolute #1 concern moving into 2014 on the minds of sales executives.
Effectiveness used to mean the sheer amount of customers who could be reached through traditional methods. Now, it’s about the quality (efficiency) of these connections. It’s about conversion rates. Rather than 10,000 worthless leads, what matters are the higher converting 5-10%.
To grow revenue, modern organizations and enterprise are investing vast sums of capital into training. So far the broad market ROI speaks for itself. There’s no question that quality training leads to unprecedented performance for most outdated sales models.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:19am</span>
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Even if you are actively pursuing habits that generally contribute to success, some of your habits may be preventing you from truly excelling in your field. Over the last month, we’ve been studying the common traits that are shared by the world’s smartest people. Today, we’re going to look at some of the habits that those highly intelligent people share that actually hurt their success.
As we’ve discussed before, brilliant people usually have habits such as reading, self-discipline, goal-setting, and metacognition. Often, harmful tendencies such as drinking too much, using drugs, losing sleep, and being prone to anxiety accompany those positive habits.
1. Drinking Excessively
The health risks associated with alcohol are no secret, which makes it even more surprising that smart people are often more prone to binge drinking. One study found that children with high IQ scores are much more likely to binge drink frequently as adults. This behavior seems all the more bizarre considering that these intelligent individuals are more likely to be incredibly aware of the risks associated with alcohol consumption.
Even though this habit is linked to highly intelligent people, it’s important to get help if you are struggling with alcoholism. Begin by identifying situations that trigger your urge to drink and make a conscious decision to start avoiding those types of situations. If you have a serious problem, take action now by joining an AA group.
2. Using Drugs
A massive British Cohort Study discovered that children with high IQ scores were also much more prone to drug use as adults. Smart boys were found to be twice as likely to use illicit drugs as adults, while intelligent girls were actually 3 times likelier to abuse drugs as adults. It’s crucial to get rid of a habit like drug use in order to fulfill your full potential in your field. Begin by making a decision to initiate change in your life and then seek professional help.
3. Losing Sleep
Several different studies have reported that children with high IQ’s generally go to bed later as adults. Unfortunately, unless they are also able to sleep late the next day, those intelligent individuals are losing sleep. Without a regular sleep pattern that allows you to get enough rest each night, you may suffer from health problems such as impaired memory and increased stress levels. In order to ensure that you are functioning to the extent of your abilities, make sure to develop habits that allow you to get full nights of sleep.
4. Being Anxious
A recent study found that people with higher IQ scores often suffered from generalized anxiety disorder. Although this study also suggests that anxiety could actually be a natural by-product of high intelligence, it is important to learn how to control your anxiety in order to enjoy a more positive and fulfilling life. Take control of your anxiety by sorting out things that you can deal with and then letting go of your worries about issues that are beyond your control.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:18am</span>
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Businesses are searching for a more effective way to conduct leadership training using virtual environments. Learning in virtual environments has many benefits, as training sessions can be led completely online and a wide range of simulations can be created for more effective lessons. Read on to learn more about how virtual environments are being used in leadership training, why companies and organizations are benefiting from this new movement, and how you can implement these strategies at your organization.
Effective Leadership Training & Virtual Environments
A recent study conducted by ON24 and Training Industry, Inc. uncovers the importance of effective leadership training for organizations and discusses how virtual environments allow them to create more effective, efficient leadership training. Overall, leadership training is an estimated $2 billion industry in the U.S., which means maximizing ROI in this area is critical. While the organizations in the study were investing about $684 in leadership training per employee, the largest obstacle to the effectiveness of that training was sustaining its impact over time.
However, for organizations that use virtual environments for leadership training, those undergoing the training rated it as more effective. Furthermore, the study found that effective companies invest 44% more in leadership training than ineffective companies. This study shows that effective leadership training is important for business success, and using virtual environments leads to more effective training.
How Virtual Environments Are Being Used
When virtual environments are used for leadership training, this training is most commonly conducted through simulations. In the military, simulation-based training is used to both practice and develop the skills that soldiers need to succeed. There are many advantages to using such simulations in leadership training. Simulation-based training is beneficial because it can be completely customized to meet the needs of the trainee. Furthermore, research shows that it is helpful for those undergoing such training to watch themselves perform tasks in the virtual environment, as this allows for greater reflection on the process.
Building Virtual Teamwork
When it comes to virtual leadership training, the most important element is building virtual teamwork. However, there are a few challenges faced by virtual teams that are important to keep in mind when implementing these strategies at your organization.
Communication: While virtual communication can be difficult, there are a number of tools that your organization can utilize to alleviate this challenge. The key is to ensure that you are using the right tools for each individual situation.
Trust: Building trust can also be a major challenge in building virtual teamwork, particularly when team members come from different cultures. It is important to ensure that the manager in the situation invests in relationships with the virtual team and is prepared to work with individuals from diverse backgrounds.
Management: Finally, managing virtually can also be a significant challenge. Fortunately, studies have shown that employees who work from home actually work harder, which means that less management is necessary.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:18am</span>
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For those who succeed in the business world, having a solid negotiation strategy is critical. However, negotiating can be a difficult skill to perfect. There are many common mistakes that are made during the negotiation process, from poor planning to making incorrect assumptions about the other party. With the following five tips, you will be able to hone your negotiation strategyand ensure that you are able to make deals that benefit your business.
1. Don’t Assume It’s a Fixed Pie
One common mistake made during negotiations is assuming that the other party will only be willing to negotiate so much. Also referred to as assuming the pie is fixed, this mistake is frequently made when both parties actually want the same result. By assuming that the other party will only meet you halfway, you could be missing out on getting the whole pie. Margaret Neale, the director of two programs teaching negotiation at Stanford, has found that about 20-25% of the students in her class make this mistake during negotiations.
2. Understand Cultural Differences
Another common mistake that you can make in your negotiation strategy is failing to take cultural differences into account. When entering negotiations with individuals from other countries and other cultures, making a foolish mistake because you do not know the culture can cause you to lose the trust of your adversary. For example, in some cultures, making eye contact is a sign of trust, but in other cultures, it is a sign of aggression.
3. Focus On Cooperation
When it comes to your negotiating strategy, there are two main tactics you can take: zero-sum games vs. cooperation. While zero-sum games are combative and ultimately lead to worse results for both parties, cooperation helps businesses establish a positive relationship that leads to win-win negotiations. By keeping your negotiations positive and maintaining a tone of cooperation, you can ensure better results.
4. Don’t Ask Yes or No Questions
A good strategy to help you succeed when negotiating is to ask open-ended questions rather than yes or no questions. This is because open-ended questions allow the other party to reveal more information about their wants and needs. Understanding what the other party wants out of the negotiation and where they are coming from will put the situation in perspective and help you come to a better solution.
5. Take the Time to Prepare
Last but not least, never underestimate the importance of taking the time to prepare for your negotiations. Good negotiators not only do their homework on the other party, but they also make a detailed plan for how the negotiation will play out. You should always have a good idea of what your priorities are for any negotiation as well as how you can alter those priorities, if necessary, to come to an agreement that works for both parties.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:18am</span>
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How can you be sure that training is effective and efficient if there’s no system in place to evaluate it? No serious VP of sales, VPs of Training, or even VPs of HR want to be responsible for shelling out tons of cash on worthless training.
Workplaces are more dynamic than they used to be. Workforces and sales teams are completely new animals from what they were just five years ago. In this article we’ll cover a solid approach to training evaluation, and then provide some tips on how to implement it.
Kirkpatrick’s 4-Level Training Evaluation Model
Believe it or not, this training model was actually first published by Donald Kirkpatrick way back in 1959. But, miraculously, it’s still as effective today as it was back then. Of course there have been updates since then, but the core levels are still the same. They are:
1. The Reaction: You need to set up a completely anonymous way for your trainees to provide honest and upfront feedback. How are they reacting to the training and why? Did they consider it valuable? Was it on-topic? Was it relevant? Was it useful in their own subjective opinions? You need to know how the training was received on the personal level.
2. The Knowledge Impact: Training includes learning new skills. It means being exposed to new information. A good trainer knows exactly what the trainees need to learn, and with that said, will know how much of it was actually learned. How have skills improved? Have their talents improved, or worsened? After training, how much has their knowledge-base increased and what kind of results is that translating into or not?
3. Post-Training Behavior: If training has been effective there should be a concise change in behavior. Do the trainees seem more confident, prepared and inspired? Or, do they seem more confused than ever? Furthermore, if there hasn’t been any change in behavior at all, then the training was a complete waste. Either that or they haven’t been given a chance to demonstrate their new skills yet.
4. Objective Results: We’re talking about objective and concrete outcomes here. Not only in terms of the bottom line or for the business, but for the employees and general atmosphere as well.
Training Evaluation Tips
Right, so with that framework in place let’s go over the most heavy-hitting tip when it comes to each of the four levels. We’re going to cut right to chase, but you’re encouraged to do a little research into Kirkpatrick’s system.
Level 1 Tip: Because reactions are subjective, identify how you plan to gauge them. Perhaps the most important thing to know is whether or not the trainees felt it was worth their time and helped them become more valuable people.
Level 2 Tip: This is all about setting specific evaluation criteria. To be effective it involves having an idea of where people really are before the training takes place. It’s about really getting to know your trainees. Design a relatively easy but effective "testing tool" that you can discover precise stating points with.
Level 3 Tip: Like reactions, behavior can be tricky. People aren’t always honest with it, but remain guarded at work because the environment may not be designed to cultivate new behavior. Interviews help. Regular observations and tracking helps. Just remember that positive training experience leads to changes in behavior, but trainees must be able to demonstrate their new skills.
Level 4 Tip: Noting has changed. It’s still all about three things: 1) bottom line results, 2) overall morale and 3) employee retention. But, #3 can be so incredibly costly these days vs. what it used to be. Effective training reduces turnover!
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:18am</span>
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Negotiation plays a role at every level in the world of business, making it a critical skill for all employees to learn. While the basic rules of negotiation: clear communication, good eye contact and body language, and a focus on objectives are typically familiar to most employees - they are, after all, the starter skills for negotiating a raise - more advanced negotiation skills can help get your company to the yes you want to hear. These five skills each address an often overlooked part of the negotiation process that can really affect negotiation outcomes.
1. Be aware of power differentials. One of the biggest challenges for upper-level employees participating in negotiations is to see the position of the person with less power. Being the person with more power in a negotiation does not automatically mean you will get what you want, particularly if you are unable to take the perspective of your negotiating partner. When the person with power takes a step back towards a more equal position, negotiations go more smoothly.
2. Emphasize the needs of the other party. Don’t assume that you know what the other party needs, but do make sure that those needs are communicated clearly and prioritized. Part of emphasizing those needs is listening closely enough to understand the nuances of the other party’s position. Once you know what your negotiating partner needs, it is easier to move forward because the different possible compromises within the negotiation become clear.
3. Avoid forced extroversion. Many people think that the most important characteristic of a powerful negotiator is extroversion, leading some naturally introverted people to put on a show that benefits no one. Rather than acting like someone you’re not, introverted negotiators should draw on the unique skills of their own personality. Additionally, others can usually tell when you are faking extroversion, and when they do, you will appear as untrustworthy.
4. Emphasize thoughts as much as feelings. Because so much of negotiating is focused on taking the perspective of the other person, negotiators can sometimes get caught up in the particular emotions invoked by the process - stress, feeling like you lack power, annoyance, frustration, and so forth. While feelings are important, trying to follow the intellectual logic of the individual you are negotiating with is just as critical. Don’t get so caught up in the emotional side that you lose sight of intellectual insights.
5. Help them get to "yes." When you show up to a negotiation, make sure you’ve done all the advance groundwork that will make it clear you care about the person or company you are negotiating with. The more you know about their position and what they will need from you to say yes, the easier and more amiable the negotiation process will be. Additionally, by keeping your ears open for the pauses in the negotiation process, you can pinpoint the parts of the process blocking the other party from getting to that all important "yes."
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:18am</span>
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Last Week Training Magazine posted an article written by SNI’s John Buelow. Read below for a brief excerpt and find the full article here: http://www.trainingmag.com/3-benefits-making-role-play-part-training
Benefits of Role-Play
Here are just a few of the benefits of making role-play a part of your business training:
1. Build confidence: When your team role-plays, you can throw any number of situations at them. Role-playing provides a safe environment to encounter these scenarios for the first time, which builds confidence in team members that can help them in their day-to-day roles.
2. Develop listening skills: Good role-playing requires good listening skills. In addition to understanding the words the other person is saying, it’s important to pay attention to body language and non-verbal clues. Better to have your team develop these skills while role-playing than when they’re trying to perform in the real world.
3. Creative problem-solving: No matter how outlandish a situation you create in a controlled environment, generally, something even more bizarre is bound to happen on the job. Role-playing will at least give your team the chance to get some experience in handling difficult situations and in developing creative problem-solving skills.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:18am</span>
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Negotiating skills will propel you quite far in any business deal, but unless you know how to close the sale - and these days we are all salespeople of one sort or another - then your negotiating skills will all come to naught. By supplementing your negotiating skills with several powerful tools, you can better demonstrate to potential buyers that your business provides exactly the high quality, well-vetted services that they require. When you truly learn to close a sale, not just complete the negotiations on an easy deal, your business will truly take off.
Treat Every Prospect Like a Buyer
Sometimes, as a negotiation comes to its close, it will start to become clear that the person sitting in front of you doesn’t think they have the power or standing to close the deal - or they do have that power and are being evasive. No matter what a prospective client is articulating about their ability to personally close the deal, continue to treat them like a buyer. Treating every prospect like a buyer ensures that you are making your most clear and convincing pitch, and is the easiest way to get to yes, even when the client is reluctant.
Build a Strong Portfolio
One of the most convincing arguments you can make for closing the deal is one you don’t personally have to make at all. Each time you successfully close a deal, ask the client to write your company an endorsement. A portfolio that demonstrates various successful negotiations proves to a prospective client that you can truly deliver the services proposed. This can help increase the trust relationship between you and the potential client and your portfolio will close the deal for you.
Focus on Value Gaps
The main reason you are in the room participating in a negotiation with a potential client is that they are facing some sort of gap in their business that they are hoping your company can fill. Rather than harping specifically on services, pay attention to the types of value your client is losing by not providing a certain service. By articulating ways your company can add value, rather than a single concrete service, you are more likely to tie up the ultimate concerns of the negotiation.
Sensing the Close of a Deal
How can you tell when it is time to close the deal? There are certain signs to look for in the language and body postures of your client that indicate they are ready to say yes. When they are ready to close, the client will likely ask questions about the project end, such as asking how long until the service is delivered, or they may verbally propose ways of using your service. When you see these signs, try for the assumptive close. This style of close takes yes as the given and moves towards getting the final confirmation of specifications, payment, and delivery information.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:18am</span>
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The Sochi Olympics came with the stories of great success and triumph achieved by overcoming significant obstacles. The global group of athletes represented at the 2014 games devoted their lives to achieving athletic excellence, but the focused habits that got them to Sochi also translate to the boardroom. These Olympian practices can help you capture the gold as a leading businessperson.
Break It All Down
Olympians don’t wake up one day able to complete a triple axel or race down the giant slalom. No, these skills are the result of years of dedicated practice during which outstanding athletes break down their larger goals into smaller, more easily achievable steps. The same idea applies to getting that big client or launching a successful IPO. Try approaching problems as smaller tasks; accomplishing each one will make you feel more capable and confident and help create the sense that you are moving towards that ultimate achievement.
Every Interaction Counts
Olympians are expert image builders. These outstanding athletes know how to work the media and they recognize that every interaction with the press contributes to shaping their overall image - this is how every business should approach the media. It’s not just formal press conferences or official interviews that count towards how your business appears in the public eye, but how well you can present yourself when those interactions are a surprise.
Managing Team Conflict
National Olympic teams are not typically made up of people who train together all the time and who have rapport to see them through conflict. These teams are typically made up of individuals who are more often competitors than teammates, and that can lead to conflict. An Olympic team, just like the teams internal to any business, must learn to manage conflict if they are to succeed. Successful business leaders understand how to negotiate with team members, work through tensions and competition, and focus on shared goals. Business leaders must also function like team captains, acting as the mediators between other teammates to prevent the team from disintegrating.
Keep an Eye on the Competition
Every Olympian hopes to come home with the gold, but to strive for that ultimate goal, peripheral vision is key. What is your competition doing, and is it giving them an edge? Similarly, business leaders should always know what the close competition is doing when it comes to business strategy, advertising, and more. This knowledge allows your brand to adopt techniques that are successful for the competition and can help keep your company ahead of the curve, moving swiftly towards that corporate medal stand.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:17am</span>
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The infographic below details differences in negotiation by gender. Negotiation avoidance comes with a high cost both at work and in personal life. Missed opportunities or settling for what one is given results in a continual trend that can compound and get bigger through life. Habits are hard to break, but through exposure to the issue and education, there is hope to correct the trend.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:17am</span>
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Join us in welcoming SNI’s interns for the 2014 Spring semester!
Trevin Jaggars
Trevin’s main job at SNI is to assist Ron Shapiro on projects and help with any research and writing proposals. He is in grad school at Georgetown for sports industry management. His favorite dessert is cheesecake and he even writes poems! His current career goal is to get a full time position with a sports team or company.
Dimetria Jenkins
Dimetria is our fiance and accounting girl. She is a senior business major with accounting and finance concentrations. On her birthday, she’d love to eat either tiramisu or crème brulee. She knows how to play the saxophone and is a great chef and baker! Before continuing on to get her MBA and other certifications, she is hoping to gain some work experience in the accounting and finance industry.
Matthew Legg
Matt is a second year law student at the University of Maryland School of Law and is a legal intern this Spring at SNI. On his birthday, his favorite dessert is yellow cake with chocolate icing (and plenty of those thick icing balloons…). He took an independent study in college on 3D animation, and knows how to create basic digital animations. After he graduates from law school and passes the bar exam, he’s hoping use his law knowledge foundations and experience to further establish his career path.
Glen Rock
Glen is our marketing guy. He helps with social media, blogs, email campaigns and other creative tasks. His favorite birthday dessert is a brownie fudge sundae and for fun he wakeboards and snowboards! He is a Senior at Towson University studying Business Administration with a concentration in Marketing. His current career goal is to find a position in sales or marketing, possibly in Austin, Texas!
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:17am</span>
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Do you eat well every day? Do you feel sluggish in the afternoon, succumbing to the urge for caffeine or sugar to get you through the rest of the day? A healthy diet and regular exercise are just the beginnings of a successful life and career. By making healthy lifestyle choices, you enhance your mental, spiritual, and social well-being, in turn helping you reach your personal and professional best. Making the following changes today will benefit you tomorrow - and well into the future.
Exercise daily. You know that exercise is important, but do you feel as though you simply don’t have the time to exercise daily? If this situation describes you, it is critical to make exercise a priority. Whether it’s taking a walk, going for a run, working out at the gym, or squeezing in a quick yoga session, daily exercise is one of the most significant parts of living a healthier lifestyle. Try to work out in the morning before you start your day, because this will leave you feeling refreshed and energized.
Eat right. It may sound simple, but eating right is another healthy lifestyle choice that often falls to the wayside as you focus on your job, personal life, and other commitments. Ensure that you eat a healthy breakfast every day - don’t assume that coffee will suffice. Also try to incorporate more raw and whole foods into your diet. Experts recommend that you eat a minimum of 50% raw food, which are high in micronutrients, fiber, and water.
Manage your stressors. Does your job create a huge amount of stress in your daily life? By properly managing your stressors, you can live a healthier lifestyle. Stress takes a huge toll on the body, raising your blood pressure, making it difficult to sleep, causing aches and pains, and even leading to weight gain. Get a handle on your stress by learning to prioritize life’s demands and set boundaries when necessary.
Create a schedule. Another way to promote a healthy lifestyle is to plan your schedule each day. By implementing a routine that includes your to-dos and goals, you can easily prioritize your responsibilities and ensure that you are also meeting your own needs throughout the day. Additionally, when you create your schedule, make it top heavy. This means accomplishing the least desirable task at the beginning of the day - not putting it off until the very end.
Looking for more ways to live a healthier life? Forbes Living TV now offers a new series on making healthy choices to live a healthy lifestyle.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:17am</span>
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A mentor is an important influence and indicator of business success. How you define and shape your career is largely based on who you emulate and partner with. But how can you find a mentor or partner to help you create a purposeful career and a meaningful life? By following these steps, you can cultivate a relationship that lasts and enables you to succeed in the business world.
Determine what you’re looking for. The first step of the process is to determine exactly what you are looking for. For example, are you seeking a mentor who can help you get a promotion, guide you in a new position, or introduce you to top executives in your field? Asking yourself these questions will aid you with determining what a mentor means to you.
Try a mentoring program. If you’re having trouble locating a potential mentor, the human resources department at your job is an excellent place to start. Many large corporations offer mentoring programs that allow you to easily locate someone with the potential to become your trusted partner. You can also try mentorship programs through major associations in your industry.
Use all your resources. When you are searching for your mentor, ensure that you use all your resources. You should not only look within your office, but also outside it as well. Your mentor doesn’t necessarily have to be a business partner; he or she could also be a neighbor, relative, or acquaintance from another organization. Another way to find a mentor is to search on LinkedIn.
Find out if you click. Once you have located a potential mentor, your job is not complete. You still need to determine whether or not you are compatible. To find out if you and your mentor have chemistry, have some one-on-one conversations. These interactions will help you figure out if this is a relationship that can last.
Show them your strengths. Next, convince this person that he or she should invest his or her time and resources in you. Show your strengths, as well as how he or she can help you achieve your goals. Provide evidence to support the idea that this will be a mutually beneficial relationship.
Make the most out of your relationship. After you have found your mentor, it is important to maximize your relationship by nurturing and building it over time. A great way to do this is to check in with your mentor on a regular basis through email or by phone. Tell your mentor how the relationship is benefiting you and allowing you to succeed in your business endeavors.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:17am</span>
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An unprecedented deal, years in the making was finalized recently. Facebook purchased WhatsApp for a whopping $19 billion. WhatsApp is a cross-platform mobile messaging app for smart phone users. It enables consumers to send messages across the internet without having to spend money on service fees and long-distance charges. This benefit is critical for overseas markets such as China and India where messaging is less dependent on systems comparable to those in North America.
However, negotiations to purchase WhatsApp weren’t without their barriers. WhatsApp prides themselves on being fiercely independent since their creation. They ignored offers of investment, despite having their inboxes constantly pounded by those who wanted a piece. In mid-2013, Google, a powerhouse in the industry, attempted to work out a deal with the company. WhatsApp Founder and Co-Founder, Jan Koum and Brian Acton declined the offer. However, Google still requested to be notified of any potential negotiations that were to come on the table for WhatsApp, a move that cost Google upwards of $1 million. The was a large expense just to be kept in the loop, obviously Google valued WhatsApp. So, if Google couldn’t make them budge from independence, how did Zuckerberg’s message get through?
Once you get past the sheer "sticker-shock" of a $19 million acquisition, Zuckerberg actually believed it was worth far more. Zuckerberg has long term strategy in mind with the acquisition, stating that he wants Facebook to be the new "Facebook". Forbes writer, Parmy Olson calls the relationship formed between Zuckerberg and Koum a "courtship" which developed over a time span slightly under two years.
Zuckerberg set himself apart from competing investors in many ways. First of all, he was able to understand the deeper inner works and needs of his potential business partner, by becoming friends with him. Zuckerberg and Koum first met in early 2012 on Valentine’s Day, in a German bakery for coffee in Los Altos California. Soon after, the two became friends, frequently meeting for dinner and hikes. Their meetings face-to-face were essential to creating a strong bond.
As the relationship progressed, talks became more serious. Their meetings would be at Mark’s house for dinner, taking negotiations out of boardrooms and offices. A more relaxed environment supported the flow of new ideas and communication processes.
Through their relationships and rapport building, Zuckerberg found out what was important to Koum. "While Facebook’s deal comes with a board seat for WhatsApp founder, Google’s offer did not." (Neil Hughes, Apple Insider) Throughout their time spent together, Mark Zuckerberg knew that Koum was not one to sit back and let someone else take their work from them. He knew that one of the ways to incentivize the deal would be to offer a large participatory role in the organization.
On top of that, Mark understood that WhatsApp held strongly on to their independent and their values. Instead of buying the company and changing it to fit exactly the needs of Facebook, Zuckerberg is allowing the app to continue to run under its original leadership as well as not requiring changes such as advertisements in order improve ROI for Facebook. The short-term priority with the deal was not to make profit. Zuckerberg stated that they are giving the app a long period of time before they expect any sorts of return.
Zuckerberg may have been a successful negotiator in this sense, but was it a valid strategy? Is it worth it? Arguments can be made for either direction.
Food for thought: Facebook recently purchased a messaging app for $19 billion, compared to Comcast which purchased a majority share of the media conglomerate, NBC Universal, in 20009 for about $14 billion. The idea that an app is worth 35% more than an entire media company is thought provoking. Additionally, in terms of age, WhatsApp was created 2009, while NBC was started in 1926.
Information from Bloomberg and Southern China Morning Post
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:17am</span>
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SNI has the opportunity of working with organizations small and large, regional and worldwide, Fortune 100 and 1000. Globally, SNI has worked in 21 different countries. More than 70% of the world’s purchasing power is located outside of the United States. As a result, we cannot stress enough how important it is to understand and adapt to the differences in culture in order to be successful.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:17am</span>
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It’s time to hire. The resumes come flooding in, and in many respects one is the same as the next. You shuffle them into piles laid across your desk, setting priorities, but how to choose? Hiring decisions don’t have to be an isolating process. Rather, involving current employees as part of the hiring process can help find team members who fit smoothly into the corporate framework and whose values align with larger company goals.
Engaging Your Employees
Current employees typically enjoy being involved in the hiring process because it makes them feel as though their needs as workers are being acknowledged in the search process. Whoever is hired will become part of their team, so it makes sense to involve them. Additionally, satisfied employees reflect back well on the company when they meet and interact with potential hires. When potential employees interact with current team members, they typically walk away with a more positive sense of the business than when they interact only with superiors.
Read the Referrals
An internal referral system is your best friend when it comes to hiring. Current employees should be allowed to refer individuals outside the company for consideration; after all, who understands the skills necessary to execute the open position better than those who already fill similar roles? Peer referrals can also indicate pre-existing positive relationships that can help quickly integrate a new staff member into the team. Referrals don’t have to be restricted to the same job level, either. Employees may know someone well equipped to take on a higher managerial role, or to take on a more minor role in the company. Use this real life social networking to your advantage.
The Professional Mixer
Too often, hiring happens entirely behind closed doors, but that kind of system means that both employer and employees alike ultimately have no idea how well the candidate will interact with the existing team members. In order to get a sense of this type of interaction, employers are encouraged to hold the professional equivalent of a social mixer. Set up a situation in which current employees and potential hires have an opportunity to interact. It is especially valuable if there are opportunities for problem solving, even of the casual variety, built into this interaction. Observing these casual interactions that are still framed by the professional environment can be an ideal way to determine which candidates to have onboard.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:17am</span>
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Are you allowing yourself enough time to recharge each night? You cannot give your business 100% if you are sluggish and running on caffeine. While getting proper sleep can be difficult, there are many strategies that can help you stay energized throughout the day. You can rest better, for instance, by maintaining a sleep routine and restricting certain substances before bed. Life requires you to be at your best, and with this information, you will be able to get a restful night’s sleep, ensuring better health and business success.
Sticking to Your Sleep Routine
Sticking to a sleep schedule is vital because it helps your body regulate your sleep cycle, in turn promoting higher quality sleep. However, sticking to this routine can be a challenge to those who travel frequently. Unfortunately, studies show that even losing a few hours of sleep, combined with traveling for business, significantly decreases your level of performance. Those who travel for business believe they perform 20% better than they actually do.
How can you ensure that you get proper rest when traveling? Michael Breus, also known as The Sleep Doctor, has a few suggestions. He recommends getting a window seat and avoiding seats near the bulkhead, galley, bathroom, or exit rows. He also suggests that you drink plenty of water, avoid taking red-eye flights, and steer clear of in-flight alcohol.
Restricting Food & Substances Before Bed
Food: You shouldn’t go to bed hungry, but you also shouldn’t eat a heavy meal right before bed. This can keep you awake.
Caffeine: Cutting out caffeine entirely can do wonders for your sleep. Caffeine takes up to 8 hours to leave your system, which means that afternoon cup of coffee may be disrupting your sleep schedule.
Alcohol: While alcohol can help you fall asleep, it also detracts from the quality of your sleep and may cause you to wake in the middle of the night.
Nicotine: Nicotine is a stimulant, which means its effects are similar to caffeine’s. Smoking before bed can prevent you from falling asleep or cause you to wake in the middle of the night.
Preparing for Sleep
By properly preparing your bedroom and sticking to the same nighttime rituals, you can further enhance the quality of your sleep. Ensure that your bedroom is conducive to sleep - it should be dark, quiet, and cool. Additionally, keep the temperature in your room between 68 and 72 degrees Fahrenheit. Temperatures that are too high or too low can disrupt your sleep cycle. Furthermore, have a mattress and pillow that meet your standards of comfort.
In addition to preparing your bedroom, get ready for sleep by going through the same rituals each night. Whether you like to shower, read, or listen to music, make your ritual relaxing. Avoid watching TV or using electronic devices in bed or right before bedtime.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:17am</span>
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Being a leader - whether your business is the size of a Fortune 500 or a mom-and-pop store - is stressful. At some point you are bound to face a difficult decision in the midst of a conflict, or will otherwise deal with mounting pressure and expectations. For some leaders, this pressure can be too much. For the most successful in the pack, keeping calm under pressure is virtually second nature.
Avoid Speculation
One way to stay cool under pressure is to avoid the toxic question: "what if?" What ifs are the stuff of nightmares and they have the ability to steer you away from the important aspects of a decision. By viewing speculation as an unnecessary distraction, you will be better able to pick a path and follow it with determination. These "what if" questions are primarily a distraction.
Be Optimistic…. But Cautiously So
By choosing a path with conviction in the face of pressure, you send the signal as a leader for employees to feel confident in your direction. Have the same optimism about your decisions. Have faith that you are doing the right thing, but don’t be so sure of yourself that you can’t hear valid objections or concerns. Cautious optimism sends the message that you know how to handle this situation, but also expresses your awareness of the reality that sometimes it can be difficult to determine what to do.
Be Visionary
When high pressure situations strike, the successful leader steps forward with creativity, imagination, determination, and confidence to assert their conception of what comes next. Great leaders are always imagining the possibilities for their company, so that when they arrive at a crossroads, they already know what the right path is and what lies ahead. These are the characteristics of a visionary. Visionary leaders are several steps ahead in every situation, which mitigates the effects of pressure.
See Order in Chaos
Sometimes when a challenging situation presents itself, it appears as though there are a dozen different possibilities and problems to be confronted, all spiraling and weaving, making the problem difficult to approach. The scene can seem like one of chaos. Leaders who respond well under pressure are those who can see order in chaos. One characteristic of those who excel at this process is being able to discern patterns and trends among the interwoven parts. These leaders can quickly tease apart a challenge and see to the core of its organization in a way many others can’t, making stressful situations much less overwhelming.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:16am</span>
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It is vital in today’s business world to have strong negotiation skills and continue to strengthen them. Besides negotiations training, there are a number of ways for everyone, including highly successful negotiators, to improve his or her negotiation skills. Several things that can improve your existing negotiation skill set are to develop stronger communication skills, display more confidence and to more clearly identify commonalities between opposing parties.
Employ Strong Communication
Good communication is about more than knowing just the right thing to say. It is also about knowing when to listen and when not to say anything at all. If you ask the other party a question during the negotiation process, be quiet and allow him or her the appropriate time to respond. Actively listening to responses allows you to better understand the person’s position, and can help you to better negotiate an agreement acceptable to all parties involved. If a person responds with an objection or complaint, show you are listening by acknowledging you’ve understood their concern. You can then counter the objection, in the hopes of moving the conversation forward, rather than ending the discussion and stopping any further negotiation.
Look for Things in Common
If you come away from a negotiation without having understood the other party’s priorities or needs, you may be walking away with a failed negotiation. Not only do you need to understand the other party’s priorities and needs in some fashion, but you also need to identify ways in which you have something in common with him or her. When you identify commonalities and negotiate from a shared understanding, you are more likely to achieve outcomes that are acceptable to all parties involved. It is often harder for someone to say no to someone they identify themselves as having something in common with. Parties aligned with one another in some fashion typically find it easier to agree than parties that are in complete opposition.
Display Confidence
A key trait to demonstrate during a negotiation is confidence. If you don’t display confidence, you run the risk of coming across as weak are less likely to achieve the desired outcome. The other parties may be disinclined to make necessary concessions or may believe they can push their desired result right over your proposed solution. One trick to coming across as confident is to maintain eye contact during negotiations. Another tip is to monitor your tone of voice. Sounding hesitant, timid, or using words that pause the conversation like "um" or "ah" will make you seem less than confident. Speak clearly and be sure of your words to display confidence during negotiations and enhance your chances for success.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:16am</span>
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Before entering an important negotiation meeting, it is essential to be prepared. Many business deals rely on quality negotiation. If a negotiator walks into a meeting without preparation, he or she is likely to fail. Ways to prepare include formulating an agenda, creating a strategy, using time management techniques, knowing limits, and understanding the goals of both parties, among others. This key preparation is critical to negotiation success.
Preparing an Agenda
Identify what you expect will happen during the meeting. Which topics will be discussed? Who will attend? Where will the meeting be located, and how long will it last? Identifying topics to discuss can help prevent you from being blindsided by something unexpected or distracted by irrelevant subjects. Setting an agenda and distributing it to all relevant parties beforehand will ensure both parties are starting on the same page, with a shared understanding of what is expected to take place during the meeting.
Creating a Strategy
After performing research, prepare a meeting strategy. What do you want to achieve during the meeting, and how do you plan to achieve it? This will help you determine what kind of information you need to bring with you to help best prove your points and ultimately reach the identified objectives. Walking into the meeting without a strategy is often simply planning for failure.
Using Time Management
One method for managing time effectively during a negotiation is preparing an agenda to be distributed beforehand. This lets all parties know which elements will be covered, and helps them to identify how much time they might need to set aside. It is important to reserve enough time to talk through each point thoroughly. If not enough time is designated for a negotiation and you are unable to cover all items outlined in the agenda, both parties may walk away without reaching an agreement. This can be frustrating and upsetting to all. Do you think your negotiation will be covered in one meeting? If not, do you have definite dates and times set for future talks? If discussion during a negotiation meeting brings up questions requiring follow-up, do so promptly. This will demonstrate your respect for the time of others.
Knowing Limits and Goals of Both Parties
If tradeoffs are inevitable in negotiations, you need to identify what you are absolutely unwilling to concede to in order have a successful deal. What is your bottom line or ultimate goal? If you walk into a negotiation asking for something the other party has no chance of agreeing to, your negotiation won’t be successful. Identify limits and goals for all parties ahead of time.
Jeff Cochran
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<span class='date ' tip=''><i class='icon-time'></i> Jul 29, 2015 07:16am</span>
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