This is default featured slide 2 title
This is default featured slide 4 title
This is default featured slide 5 title
 

Category Archives: Business

Negotiation For Businesses

I’ll show you the some magic words of any negotiation when in a business setting. Get out your pencil and paper, are you ready? Here they are:

“We don’t need it.”

Yes, it’s that simple. The whole of your business success in negotiating the best possible value on purchases come down to those four words. Once you and your team truly believe that you don’t need the item that you are buying, the better the price and value you will be getting in return. However, the opposite is true as well, the more you and your team are convinced that you do need a product, the more you will pay and the less value you’ll gain.

Believe it or not, the whole of negotiation in business dealings with vendors is truly that simple. Of course, there is a lot more to negotiating with vendors, but these four words will pay off more than you can realize until you start to use them. There is a solid reasoning behind this, and here it is:

If you truly feel you “need” a product, then you aren’t bargaining with a vendor – you are begging for their help.

Now, you have lost your bargaining chips as well as an leverage you had when you walked into the room. The leverage that you want to keep in your corner is the ability to get up and walk away from the bargaining table, preferably in a hurry, and not return. One of my favorite pieces of advice on negotiating is this: “Don’t fall in love with one, fall in love with three.” With three different products from three different vendors, you no longer are at the mercy of one, they are at your mercy.

The overall concept of negotiating with vendors can be a tough one, and these four words can add another layer that you may not be used to. The application can be more tricky than you realize even though the overall concept is really basic. The key is to realize that there are always other vendors and businesses out there that offer products that are basically the same as what you are looking at right now. If there wasn’t, that particular vendor could charge through the ceiling for their product and everyone would pay it.

All about Communication Business Skills

Social networking is difficult for a lot of people. Not everyone good at making small talk, even though it is extremely important. Having the ability to socially network with other people in your industry is an advantage. In the professional world, it is all about who you know and if you can socially communicate well, you will be successful.

Speaking is another one of the business skills that comes easy for some and difficult for others. You might be required to give presentations to staff members or board members. If you have difficulty speaking in public or to groups, your message may not be delivered as you wish. The last thing you want is people focusing on your nervousness and not the message you are trying to convey.

Communication business skills include sales also. You must be able to sell if you want to be persuasive. Your job might not be selling any tangible item. However, you may need to convince management of ideas you might have or employees to help motivate them. The ability to sell something comes naturally for some, and is very uncomfortable for others. The ability to sell is a skill that can help people be very successful in the business world, and will take you far with your career if you can master this skill.

Negotiation is another business skill that is a must. You must have the ability to negotiate. If you cannot negotiate, you cannot work in management. You need to have the ability to negotiate a salary. If you cannot negotiate, you might be working for much less than the company would have been willing to pay you. Never settle for less. Negotiation skills allow you to help a company in many ways and a business will recognize someone with negotiation business skills as a big asset.

There are many business skills you need to be able to communicate effectively to staff, employees, and even vendors. Without the ability to communicate through writing, oral, sales, negotiation, and social networking you risk offending others, losing out on big deals, and more. Communication is one of the most important business skills you need to succeed and you need to be able to communicate in all of these ways in order to consider yourself a successful business person.

Info of Training For Sales Negotiation

The Importance of Sales Negotiations in Business

Anyone who shows reluctance or inability to participate in business negotiations is perceived as one who lacks flexibility and strength. In today’s global business environment, it can even mean disaster. Not all cultures do business the same way; for example, in most Asian countries, it is considered rude to simply start a business negotiation without a fair amount of what we in the US consider “small talk;” asking about one’s health, family, etc. In fact, most Asian businesspeople will not do business with someone until a personal relationship has been established on some level. As you can see, training in sales negotiation not only improves your business skills, it can improve your image and status among colleagues.

Improving Your Negotiation Skills

In order to build one’s sales negotiation skills, one must first take a personal inventory of one’s own strengths and weaknesses, as well as those of the company and its personnel (if applicable). This is where any qualified provider of negotiating training starts when designing course materials and training programs for your company. If you would make yourself and each of your employees a skilled negotiator, it’s also helpful to take stock of your personal goals as well as those of your business.

The best sales negotiation training courses are those in which students have opportunities for practical, real-world experience. Qualified negotiating training experts are able to set up scenarios that students will actually face when down in the proverbial trenches, developing their negotiation skills by actually using them in the kinds of situations encountered in the “real world.”

Basic Negotiating

1.) Ask questions
Smart people know how to ask. Ask questions relevant to the topic of your negotiation. You should know all information related to the discussion. Know what the other party has to say and when in doubt verify things so that there won’t misunderstandings with the other person or party.

2.) Learn to listen
As always, listening is very important in communicating with people. Even on business negotiations, it is vital that you listen to the other person or party you are talking to. Understand the message they are trying to relay and never butt in unless you find it necessary.

3.) Do some research
Before the scheduled negotiation, gather relevant information that you can use in weighing factors connected to the negotiation. For business negotiations, know the background of their company, learn the factors surrounding their offer and verify the information you got about their proposal (if there’s any). Being prepared is important during negotiations. If you want to buy a particular product or maybe a house and lot, do your homework and research about the value of the product you want to purchase and see if the offer of the other party is reasonable.

4.) Don’t rush things
It is not necessary that after the first meeting you will already come up with a decision. If you or the other party is still undecided, then you can set for another appointment so both of you can think it over and weigh things mentioned on the first meeting. It is not good that you make a decision right away or you persuade the other party to immediately agree with you. That would sound too demanding.

5.) Find the right timing
Make sure to set an appointment that both of you will agree. Consider also the mood of the person and see if he’s in great mood or he’s not stressed or in bad mood. It is best that both of you are in the right mood when negotiating so that there won’t be misunderstandings or conflicts that may lead to a heated argument. Always remember that negotiations are done so that both parties can come up with the right solution to the problem or topic being discussed.

Improving Negotiation Skills

Actually, business – like international diplomacy – is really based on negotiating. It is no coincidence that the Spanish word for “business” in virtually every Latin American country is negocios. Business negotiation skills that have not been properly developed and honed to a fine edge can fall prey to intimidation and often result in surrendering on issues that you may not have wanted or needed to. In fact, business negotiations are all about give and take, ultimately resulting in a solution that is satisfactory to everyone. Negotiation training is the most effective way to “level the playing field.”

Having yourself and your staff go through negotiation courses taught by experienced consultants is one of the best ways to prepare your business for all contingencies. Negotiation training can be offered at your place of business on a schedule that works best for you.

During negotiation courses, students will have the opportunity to practice the necessary business negotiation skills in an environment that is less threatening in order to gain expertise and confidence. During this kind of training, your consultants will provide simulated situations that people are likely to encounter in the real world. As they are taken through these scenarios step-by-step, they are shown how to work through them and overcome objections. Improvement in business negotiation skills among sales staff and executives is steady and impressive.

Social Networking Strategies

Like learning anything new, online marketing tools bring with them a small fear of learning something new. Even though there’s a learning curve involved, once this hurdle has been negotiated, business owners will be glad that the to the jump.

Over the previous five years, social networking is totally reinvented the way people market products and services. It is a great leveling the field that stands between small home-based businesses and major Fortune 500 corporations. This is why this is such a great marketing tool to add to your marketing channels because of the great return on investment that it provides.

Gone are the times when business owners looking to attract potential customers have to attend networking events. This is now totally automated and provides the business owner with several hundred times the outcome than old-school traditional approaches. Social networking allows you to reach and engage your niche target audience like never before enhance your customer service and brand image online.

There were many companies that use social sites like twitter as their customer service department. Companies like Dell computers and many of the major airlines have found that using twitter provides a real-time customer contact tool far better day and old-fashioned call centers. Customers can easily contact a customer service representative by lighting into their twitter account and sending a tweet to the company profile. Many of these companies have full-time workers who do nothing more they answer the social networking inquiries. What better way to reduce the amount of anxiety ridden calls that customer service reps have to endure than minimizing the length of message a customer can send.

If you are out to attract prospective customers and develop your online presence and exposure, you owe it to yourself and the financial future of your business to learn everything you can about Internet marketing.

Makes A Good Negotiator

To supply an answer and provide something that we can all benefit from regarding our own negotiation styles and practices, I looked to three opinion polls that Chester L. Karrass wrote about in his book “The Negotiating Game.” These polls looked at attorneys, accountants, retail buyers and real-estate brokers to see how they viewed negotiations. Additionally, the literature of diplomacy, business and collective bargaining was probed for a deeper insight into the personality makeup of successful men and women in general. Karrass writes that as a result of the studies, the ability to measure bargaining skill objectively and to understand how the attitudes of these various professional groups differ with respect to the qualities necessary for a first-rate negotiator was now available.

Nearly five hundred negotiators took part in the survey, and it not surprising that there were significant differences between the answers of the various groups. Industrial negotiators, such as salespeople, engineers, buyers and contract-management people differed in their responses compared to commercial negotiators such as attorneys, accountants, real-estate brokers and retail-clothing buyers. As a group, those in commercial activities placed greater emphasis on analytical ability, self-esteem, and patience. Attorneys and accountants see negotiation as a problem-solving affair rather than as a quest for reaching objectives. No other professions surveyed were so emphatic on these points.

Karrass reports that this study provides two clear lessons: 1) the difference in opinion between various professionals is significant, and 2) when members of different professions assist one another at the bargaining table they are likely to view negotiations traits in diverse ways. We are now back where we started; acknowledging that there are many ways to negotiate and successful negotiators come in all shapes and sizes and possess various traits.

However, the professionals that were surveyed, and who should know the most about negotiation, collectively believe that the following seven traits are most important:

1. Planning Skill

2. Ability to think clearly under stress

3. General practical intelligence

4. Verbal ability

5. Product knowledge

6. Personal integrity

7. Ability to perceive and exploit power

This is not a bad list. I’m sure we can all agree that these traits are important during negotiations. Are they the be all and end all of negotiation? No. Are there other traits we can develop to improve our negotiation success? Certainly. The list does give us a good start in answering our question of what makes a good negotiator. It would benefit anyone who wanted to improve their negotiation skills to critique these traits within themselves and work toward developing these traits to their maximum potential.

Besides the list above, I think it would be beneficial to examine all the traits and how they were ranked by attorneys in the survey. The following is pulled from the Appendix of “The Negotiating Game.” The traits are ranked from highest importance to lowest among each group.

TASK-PERFORMANCE GROUP

Planning

Problem-solving

Product Knowledge

Initiative

Reliability

Goal-striving

Stamina

AGGRESSION GROUP

Power exploitation

Persistence

Team leadership

Competitiveness

Courage

Risk-taking

Defensiveness

SOCIAL GROUP

Personal integrity

Open-mindedness

Tact

Patience

Personal attractiveness

Trust

Compromising

Appearance

COMMUNICATION GROUP

Verbal clarity

Listening

Warm rapport

Coordinating

Debating

Role-playing

Nonverbal

SELF-WORTH GROUP

Gain opponent’s respect

Self-esteem

Self-control

Ethical standard

Personal dignity

Risk being disliked

Gain boss’s respect

Organizational rank

THOUGHT GROUP

Clear thinking under stress

Analytical ability

Insight

General practical intelligence

Decisiveness

Negotiating experience

Broad perspective

Education

Workers Compensation Insurance

In many states, a majority of employers STILL operate without the required workers compensation insurance. And, most of those do not plan to purchase insurance. But, employers MUST have workers compensation insurance if their business meets the minimum requirements in their state of operation. It should be thought of as a non-negotiable business expense and not a “nice to have” line item.

Employees must be protected on the job from workplace injuries through safe work environments. When injury does occur on the job, employees must have safeguards against personal financial hardship. It’s the law for most businesses and a good idea for everyone else. And, if you’re concerned about fraud from lazy or disgruntled employees, don’t be. Less than 1% of workers compensation cases filed prove to be fraudulent.

If you do not yet have workers compensation insurance, there are many resources for you to get it quickly and easily. You can shop by phone, in person or online. The last of these is a great way to shop and buy insurance. There is no need to leave your office and you can get all the information you need immediately regarding your state’s regulations and rates. Insurers Web sites that specialize in workers compensation insurance will be well equipped to help you wade through all the complexities of your state’s laws to arrive at the most cost-effective plan.

Several factors may affect your rates including:

* Number of employees in your business

* Level of personal risk for jobs done

* State where you conduct business

Also good to note, if you’re paying more than $5,000 annually in workers compensation premiums, you should be getting a dividend back each year.

Way to Negotiate Business Debt

It is a bad idea to try to tackle debt negotiation individually. A debt problem is threatening and lonely. Having a good support system of friends and family will help relieve the stress of business debt. To actually help get rid of debt, seek out a debt consulting company to help organize, manage, and communicate with lenders to get a beneficial debt settlement.

Time can be a business’ enemy or friend, depending on how soon the debt is acted upon. Immediately contact creditors and explain the current debt situation. Ignoring lenders will make the situation worse. Tackling a debt problem in the early stages will make the process easier to resolve.

It is in everyone’s best interest to find a solution, so lenders should work with businesses to lower interest rates, increase the credit line, and restructure repayment options. Dealing with multiple creditors or collection agencies can take away from running the business. Reputable debt consultants can negotiate with creditors to settle debts for less than what is owed.

Creditors are terrified of losing the money they loaned out and need to remove the debt from their books. They will respond positively to efforts in starting the negotiation process of debt collection. Debt negotiation means creditors have the chance to recover some or all of its loaned assets.

Be prepared to put down some money. Lenders may want at least half of the loan up front. Creditors may not even negotiate until some money is given over. This is where a consulting company is useful – they could get businesses a lower upfront fee to begin negotiation.

When a payment is made to the creditors with a credit card or bank account, the creditor then has all of the owner’s banking information. If an owner gets sued during the process, the creditor has this information and can get at an owner’s funds easily. Instead of these payment methods, pay debt with a money order so information is secure.

Creditors are willing to settle for less in order to guarantee they get something back. Many business owners should expect to pay less for a lump-sum payment. Owners need to demand the debt be shown as paid in full on the credit report. Fully paid or debt satisfied is the kind of language owners want to see on a report. Debt still active is not want owners want.

Do not back down and accept a repayment deal that is too much for an owner to pay. Do not agree to any debt payment plan that cannot be afforded. Owners need to tell creditors what they are willing to pay. Let them know if they demand more, the owner will be forced into bankruptcy where creditors receive no payment whatsoever.

Find out how far a creditor is willing to go. If they offer three months at no interest, try to get six months. Always aim for a higher deal and understand how much negotiating room there is to work with a personal budget.

Negotiate With Credit Card Companies

By now you know that debt affects the way you live and even look at the world. Most people who are debt free have the ability to work towards their future. However, if you have debt, you will feel like a rain cloud hangs over your head no matter what you do. You need change in your life and the time for change is now.

Once you sit down and understand that a lot of the problems in your life stem from the stress from your debt, you will likely be ready to understand what I’m about to say. Your debt can be a thing of the past. It is as easy as searching out a debt negotiation business and letting them take care of the hard work.

They can usually drop up to 40-50% of your debt and this will take a tremendous amount of the time it takes to pay off your debt. After you setup a plan with a debt negotiation company, your work is already done. From what I’ve read, most people get out of debt within 12 to 35 months and end up being extremely happy with the fact that they are out from under debt.

Now you understand that getting out of debt is just as easy as pushing a button or clicking your mouse. If you are in debt and notice that it is affecting the way you live, then do something about it now and feel better about your life.