Archive for the ‘Deals Making & Closing’ category

What You Truly Must Know About Your Negotiation And The Tactics

January 4, 2008

When another run of “Effective Negotiation Skills” training was conducted last week, it was absolutely amazing. What I like about the training was the energy of the audience along with the humor throughout the sessions. The most impressive experience I had from it was the driving desire of the participants to learn and improve their negotiation skills.

In every negotiation situation that you encounter, you can always employ the strategies and tactics taught. To make the deal closing even more exciting, each tactics can actually be combined with each other to give rise to further advanced applications.

A few things you must truly keep in mind when employing the negotiation tactics:

1. Remember negotiation is a demonstration of power, and upon qualitative analysis, the outcome may be able to be predicted.

2. Remember why do people negotiate and why some do not need to.

3. A tactic need not be used in isolation; it can be merged with others to create hybrid tactics for more exquisite use.

4. If you can understand where the communication clarity or where its vagueness lies, then you are able to better analyze the interaction and apply tactics on the issues.

5. Negotiation does not begin with your meeting with the other party. It begins much earlier, be alert of it.

6. Always have plan B in case it doesn’t create the desired effect. Then again having Plan C and D won’t hurt either.

7. When you know that you can play win-win or win-lose, you are then truly on the path to becoming a successful negotiator.

It’s truly takes a different game to work with the tactics and a different player to play the winning card. Practice well and often.

May you Excel Beyond Excellence!

How You Can Get More Pay… Faster And Easier!

December 4, 2007

It has been a few days since my last posting. This is one of my busiest times of the year for training and public speaking. The speaking engagements and training contracts came in more than usual.

Besides conducting the training and attending the functions to give speeches, I am also fully involved in developing and designing the new courses. There are so many things to share over my last few trainings sessions.

In some of the training, we do discuss about the real issues at the workplace. Some of the participants signed up of their own accord in order to learn much more about managing their career better.

Here are some of the tips that have been used successfully to get more pay and negotiate for improved benefits:

1. Justify your value.

2. Discover your market. Know where you gain a foothold.

3. Know what you did that are more than your basic required contribution.

4. Think long term gain and growth instead of short term scrapping.

5. Maintain the relationship.

6. Rapport between your boss and you is vital.

7. Confidence comes first.

8. Timing matters.

9. Reaffirm your loyalty, commitment and dedication.

10. Have fresh, workable ideas on how to make more money for your company.

Let us Excel Beyond Excellence!

How You Can Become A High Achieving Salesperson

October 22, 2007

In my mentoring and coaching sessions with the salespeople, we work on several aspects of my clients. However the reason why I am engaged as their mentor/coach is same. Their purpose is to eventually become a high achieving salesperson.

Hence, here are some of the things you can do and must have to attain high achievement as a salesperson:

1. You need fire in the belly. And I mean fiery passion. I must see it in your eyes. And you walk the talk.

2. Love to sell and persistently sell. It’s like there isn’t a day gone by that you don’t sell. It’s that serious… and infectious. (and I don’t mean bugging your prospect either.)

3. Define your goals through a plan. This includes goals of learning to sell, of being mentored, of how much to achieve and others. And when do you want to achieve them.

4. Disciplined to stick to your goals and act to achieve them.

5. Know how and when to apply the different types of selling skills. This is obvious. And continuously apply them in various forms: sales presentation, networking, chit-chatting, discussion, deals-closing and others.

6. Handle rejections and objections with ease. Oh, yes! If you want to even remotely make it, you better deal with these well.

7. Comprehend the concept on the Paradox of Attraction. The more you want to make money from them, the more they will run from you. Customers can smell desperation a hundred meters away.

8. Put customers first. Their welfare ought to come first. Understanding them is thus imperative.

9. Understand the power of the heart and the touch. Let your sincerity and concern for your customers touch the hearts of your customers. Remember, people don’t care about you until you show that you care about them.

10. Build on the power of positive relationships. This is what gets your customers to return to you again and again and again. You have a positive relationship with them.

11. Create and design your sales persona. This means your personality, the high achieving salesperson. What do you stand for and what comes to mind when people think of you. In short, branding yourself.

12. Be TOTALLY sold on your own products and services. If you are not, then you will find it an unconscious obstacle in your attempt to sell. Reason? Simple. Because if you don’t even absolutely believe in what you represent, you can’t totally put in the passion and the persuasion and influence.

13. Communicate well. Essential and vital. ‘Nuff said.

14. Ultilize the tools of sales communication. This means implementing the sales language, the captivating voice and the sales body language whenever you are selling.

15. Equip yourself with the technologies of sales (whenever needed). Hand phone is essential. Name cards are the basic. Email helps a lot. Website adds accessibility. Customer relationship management (CRM) technology adds to the icing on the cake. Check out the rest of modern technologies that is helpful for your own industry.

16. Follow-up, follow-up, follow-up. This is the key. The bigger rewards lie in following up with your prospects and your current customers.

17. Have a sales management system. This includes the follow-up system and incorporates the sales cycle.

18. Create leverage on your existing customers. Help your current customers become your salespersons. Impress them enough to let them tell their friends about you.

19. Have a mentor to fine-tune your selling skills. Meet up with him on a regular basis to tap on his advice and boost your skills.

20. Keep learning and improving in all areas of selling. You’ll always be getting better with this one.

21. Live a balanced and positive life. Selling is a lifestyle, not just for the moment when you meet customers.

It’s always exciting whenever you step on the path to become a salesperson. Persists and you’ll be on your way to excel beyond excellence!

Best wishes!

 

8 Lessons On The Emotions Of Selling To Help You Sell Easily

October 7, 2007

On the same Friday evening, after I had completed my day-time negotiation training, I was rushing to another venue. It was about 40 minutes before my next session begins. This time, my talk and training was on “Dynamic Selling Skills”.

As what I usually tell my participants, selling is like a brother or sister (depending on your gender preference) to negotiation. Both go hand in hand and have common areas. Yet, they feature their own procedure and strategies. You will be much more empowered when you have one to compliment with the other.

In the room-packed dynamic selling session, we had demonstrations of the process of selling and I showed them how they could artfully fit into what their clients want with ease. It was definitely educational and empowering. The training was also uplifting as participants took to the exercises and activities. Those were the keys to make selling simple, yet effective.

To set the stage right, I shared with the participants to sell easily, they must (emotionally) understand that selling comes from the heart first.

I shared with them some of the lesson on the emotions of selling. These lessons are meant to help them sell easily:

1.) It’s not about what you know, it’s about who you trust.

2.) It’s not just about who you trust, it’s also about who you like.

3.) It’s not only about who you trust and like, it’s about what you ultimately feel in your heart.

4.) Selling is also about what you stand for emotionally.

5.) It’s not merely what you stand for, it’s about how do you fit into what your clients stand for emotionally.

6.) When what you stand for fit into what they stand for emotionally, and they like you, trusting you in the process, you’ve got an open mind who will take in whatever you suggest or recommend.

7.) In selling, you want to suggest, recommend and share, instead of just pushing your products and services. Why? Simple. Because no one feels good about it.

8.) Ultimately, selling easily and effectively requires you to emotionally connect with your clients in all levels. And make them feel positive about it.

The next time you meet up with your client, strive to connect on the emotionally level first. Use the points and lessons above to move the selling process step-by-step.

You will find that selling becomes more of an ease than a chore. With practice, you will evolve to become a seller who excels beyond excellence.

How To Absolutely Minimize Your Risk When You Use Negotiation Tactics?

October 7, 2007

Negotiation is really a game of wits and composure. Advantage goes to the side that is more prepared and ready to handle the invisible and the inevitable. That’s why when we embark unto the study of negotiation tactics, we stay vigilant and take heed of the risk that follows.

Two days ago, on Friday, I completed the course on “Effective Negotiation Skills”. I loved it! It was fun as always!  😀

This class was an additional run as the original negotiation class was already fully signed up. I could not take in any more participants in the previous run. Therefore I had to open up a couple more classes to meet with the demand for this course of mine.

As with each class, the dynamics are different because the participants have changed. Hence personalities changed. The jokes are new, the laughter occurred at different triggering moments.

However, the message remained the same when it comes to the segment on negotiation tactics: The risk.

Please understand that for every single tactics used, there is always a risk:

a) the risk of being found out

b) the risk of backfiring

c) the risk of the loophole or the gap

d) the risk of worsening

Hence, we must be able to take the following steps in reducing such risk as much as possible:

1.) Get yourself mentally prepared as much as you can. Confidence here is crucial especially in moments before you step into the negotiation room.

2.) Plan for what you know and plan for what you don’t know. You can never discount the merits of planning. And when I say planning, I do mean Plan A, Plan B, Plan C, and others.

3.) Check against your own ethics, principles, values and beliefs (EPVB) whenever you want to use any of the tactics. If the tactics is against them, don’t use it.

Psychologically speaking, should any tactics used be in conflict or disagreement with your own EPVB, you will be unable to use them to its full effect. In addition, there is the risk of the loophole to deal with. Being in conflict within, your body does not allow you to fully convince the other party. Hence a more experienced and eagle-eyed negotiator will be able to detect such loopholes.

4.) Get a fellow negotiator to back you up emotionally. Pep talks are also important and extremely useful. The importance of psyching yourself up before the meeting is not to be discounted. Have your friend use positive words to keep your perspective in the motivated realm.

5.)  Find a balance between eagerness and calmness. Too eager a negotiator will open up too many loopholes while being too calm depicts the lack of emotional connect with the other party. Balance and timing of it is utmost essential.

6.) Train yourself to think fast under pressure. Negotiation is an extremely dynamic game. It changes course when you least know it. You must therefore act accordingly and switch your language when needed.

7.) Watch out for the triggering point, the tipping point and the balance of power (Trig, Tip, Balance) during negotiation. Quickly decide if the tipping scale is more in your flavor, in their favor or a middle point for both parties. Be ready to change tactics at that instance if you have to.

8.)  Never take the results too seriously. Whatever the outcome, you are there to do a job. And it’s job. Never let the “goodness” or “badness” of the negotiation affect your personal life. Remember you have a life. Realize that you must move on no matter what. Learn from it and add the lesson to your negotiation arsenal in readiness of your next negotiation meeting.

9.) Get experience in negotiation. Experience helps you to sharpen your thoughts and understand the different personalities as well as various settings. On the other hand, never let experience stifle you nor stop you from being tactically creative on your next round.

10.)  Work with a negotiation mentor to improve. If you don’t have, get one. It’ll shorten the learning curve so much and you have so much more to benefit from your mentor’s guidance.

Run through the sequence with your mentor after the negotiation. An experienced negotiator will be able to pinpoint to you the possible gaps or loopholes of the negotiation. He or she will also highlight to you where did the shifting of power occur during the process. Take your mentor’s advice where possible and apply it.

Learn fervently from the trainings you have received. Maximize your learning to minimize your risk. In this way, you will excel as a negotiator. Make yourself THE Negotiator, the one who always excel beyond excellence!

3 Proven Ways To Resolve A Mental And Negotiation Stalemate

July 29, 2007

During the negotiation situation, it is highly possible to get stalled at certain point where neither party agree to budge. Things do not move and nothing progresses. This is a stalemate. People and process get ‘stuck’.

Stalement can occur any time in any communication and deals handling. Conflict usually escalate with unresolved issues as the refusal to give in tend to be things that are closer to heart.

Therefore, a prolonged stalemate unwinds all the effort used before the negotiation and it becomes a serious wastage of time and money. It becomes a Catch-22 situation where to end it implies that previous efforts are down the drain while to move on implies a need for one party to lose out.

To be unable to find a resolution will imply that it is not just a negotiation stalemate, it is also a mental one. People are unable to logically accede to each other’s position. Hence stalemate is mostly a mental one… the inability to see beyond their current perspectives.

Here are 3 proven ways to resolve such a stalemate:

1) Switch positions and perspectives.

2) Include someone objective into the negotiation.

3) Willingness to think out of the box and be creative.

Remember, negotiation is a regular part of life and ever present in business dealings. Keep these ways in mind to handle the stalemates, be it mental or negotiation nature. These ways will help the situation progress than stagnant.

3 Essential Keys To Speed Up Your Sales and Negotiation

July 27, 2007

Just finished conducting a Sales training workshop today for the NUS Toastmasters. Within the workshop, we explored what goes on within the mind and needs of customers and practiced on the CODE structure of sales and other important concepts of selling. You’ve been very wonderful participants. Thank you very much and keep working on the selling skills.

In addition, I will like to include 3 essential keys that will help you speed up whatever sales situation you are in. If you are a negotiator, these keys play an even more crucial part in helping you to secure the deals faster.

Key #1: You must think faster than your customer.

This key deals with the sales and negotiation situation. Different customers will throw you different replies and responses. In an amiable scenario, they are just making inquiry or voicing their true concerns. Hostility wise, some are out to test you, to throw you off guard or to even find fault to with so as to gain advantage over you.

Your thinking speed allows to derive a suitable respond to gain back the ground and to cleverly turn it around. You must be ready to anticipate whatever situation you get from the sales situation. A slip of effective grasp of the situation indicates a lack of preparation, knowledge and professionalism in the customer’s eyes.

Key #2: You have to let yourself go, rather than clamp up on what to say.

This key is about the sales communication with your customer. The moment you meet your customer, it’s all systems go. You will not have the luxury of time to craft your speech, your words or even attempt to rehearse the body language.

Since sales and negotiations are based on interactive communication, you will certainly not able to fully know what to expect. The best way is to let yourself go where you have to trust all the learning, the rehearsals, the training and the preparations. Sometimes going with the flow works well, at other times, you need to stop and re-negotiate again.

Whatever practice you have done beforehand is practice done. It is now show-time and you have to let your sales kung-fu do the talking. Too much effort applied in attempting to recall the technicalities of sales will only serve to make you clamp up in your communication. This becomes a break in the cycle of sales.

Learn to trust yourself and all the preparation you have done thus far. Let yourself go and let your communication flow.

Key #3: You must work in partnership with your customer rather than force sell.

This key works on the overall sales and negotiation relationship with your customer. Understand that sales is actually a relationship in formation. Both parties attempt to ‘feel their way around’ with their responses and their handling of situations. You must focus on exploring the relationship in the form of partnership. This means that you can then effectively derive a win-win outcome.

Effective partnerships imply to your customer that you are also looking out for his gain and benefit, not just your own. This increases the trust he has in you, thus making him mentally engaging you and emotionally open up.

Partnerships matter more than attempting to hard sell. Selling in a forceful and detectably manipulatively manner makes you appear insincere and exploitative. The last time I checked, customers don’t do deals with people they don’t trust. Neither do they give money to these people.

Keep in mind these 3 essential keys whenever you conduct negotiation or sell to customers. They are the keys to make sales and negotiation speed up with positive results.

Use these keys to Excel Beyond Excellence!

The Vital Truth Every Negotiator Must Deal With

July 21, 2007

You’ve been preparing this deal for weeks. And now, you step into the client’s office, facing this big, fierce, burly character. He flips through the documents, swiftly lifts up his head and stares at you with his piercing eyes.

“I will never accept the terms!”

Mr Fiery Temper cuts through the already tense atmosphere with his booming voice. You can easily tell he is not very pleased.

There is an awkward and uneasy silence. You wreck your brains for what to say next.

In this very crucial moment of the need to reply, your boss’s voice appears in the background.. “Remember, we need this business deal. Must close it. Our company’s survival depends on you..”

Oh, Great! How relieving to be reminded of this? And what a convenient time too.

You have just had reality of a negotiator hit you hard in the face (or the back of the brain). Just when you need a smart, witty reply, the most unnecessary of warning comes forth… with that “our lives is in your hands” thing. A mantra that creeps up on you and goes on, and on, and on…

My friends, this reality comes attached to you as a negotiator. You don’t have to find it, it just is there. It is the vital truth of negotiation and you have to deal with it, sooner or later. It is The Negotiator’s Burden.

Every negotiator carry a burden, unique to his position and to his appointment as the organization’s official negotiator, spokesperson and representative. They had to face the ultimate truth that their words can either elevate their organization or bring it down.

If the burden is mismanaged, it becomes an inner demon that threatens to put the negotiator into constant fear and intimidation. This, the other party can detect it and use to their advantage to bring to your downfall.

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Empress Dowager Xiao Zhuang carried this burden when she had to invite Hong Chengchou (Fan Hao Ming in ficitionalized drama serial) to submit to the Qing Empire. The hopes of the expansion and founding of the whole new nation depended on her persuasive skills.

She was later faced with an even tighter situation as she attempted to balance the might and forces of Duoergun, the Regent and Haoge, the late Emperor’s eldest son. Each ambitious man had harbors intention to lay claim to the empty throne. One false move in her actions and words, and her own life and that of her son’s will crumble together with the dismantling of the whole nation.

In both and other challenges, she emerged unscathed, with her position further solidified.

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Li Hong Zhang, a key minister of the late Qing Dynasty, carried this burden in 1901 when he had to negotiate with the eight foreign powers in the vastly unequal Xinchou Treaty after the failure of the Boxer Rebellion. This accelerated the downfall of the already weakened Qing Empire with its people increasingly convinced of the incompetency of its government.

Till now, China still sees him as the example of nation’s embarrassment, widely regarded as a traitor of the Chinese people for the disadvantaged negotiated outcome.

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Equally worth highlighting was the events towards the Cold War that began from the 1940s to the 1990s. The negotiation lasted through United States Presidents Ronald Reagan and George H. W. Bush, Soviet Union President Mikhail Gorbachev and then to Russian President Boris Yeltsin.

The Cold War also saw the dissolution of the USSR, fall of Berlin Wall and other reforms that took place between the super powers. The massive pressures and burdens upon the negotiators-Presidents, knowing the outcome could affect their nations, could be beyond our contemplation.

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Closer to home is the example at the Surrender of Singapore on 15 February, 1942. General Arthur Percival of the British and General Tomoyuki Yamashita of Japan carried burdens of different sorts.

Imagine the heaviness of heart as General Percival signed the surrender treaty unconditionally, knowing the eternal shame of defeat and humiliation of the Queen’s colony awaited him when he returned home. He had just sealed Singapore’s fate and handed over the largest British-led surrender in history, totaling 130,000 in overall forces.

General Yamashita, earned the nickname “The Tiger of Malaya” for his aggressive conquering of the British colonies. At the negotiation table, he fervently insisted on the unconditional surrender of Singapore. The strong thumbing of fist with tough exterior looks certainly aided and hasten Percival to give in to his demands.

Had there been any changes in that negotiation, Singapore as we know it, would have been very different.

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By a twist of fate, General Yamashita had to surrender to Generals Percival and Jonathan Wainwright in Philippines three years later in 1945 when Japan announced its surrender.

Negotiations by lawyer Harry Clarke and his defense team, to have Yamashita’s death sentence reversed, did not go through this time round despite strong appeal to President Truman. Gen Yamashita was thus hanged in 1946. Meanwhile Gen Percival was active in negotiating compensation for former captives till end of his life in 1966.

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Every single one of these negotiators had to manage their realizations of the burdens placed on them. Certain burdens come in the form of company survival or national pride while others are at the expense of livelihood and lives. Some, as history can tell, managed it better than the others.

The fact of the matter remains that a negotiator truly carry a burden that no other in his organization can fully comprehend. And since he is the negotiator, it is a load no one else can take over or bear for him.

He has to thus devote to build an even stronger character that can withstand these burdens. And manage the inner demons that constantly remind him that failure is not an option. For better or for worse, the character must be there. A negotiator with less than steady stealth and mental dexterity will be at a very disadvantaged position at the negotiation table.

What remains is for you to truly be realistic with the fact of it and be diligent at building up your character, then to boldly face the negotiator’s burden before you can excel in deals closing and negotiation.

We’re Always Negotiating, So Here’s What You Must Have To Win

June 29, 2007

Just completed four intensive days of training on Brain Power and Effective Negotiation Skills. Over the days, it has brought to mind a reminder that we’re always negotiating, all the time, every time.

Ever since young and as babies, we have been negotiating deals of all kinds. We negotiate with ourselves and on our inner dilemma, negotiate with our family, friends and loved ones, with our romantic interests, with people we buy things from and we negotiate with our boss, colleagues and customers. You name it, you’re always negotiating.

It is therefore crucial to remember that the winning state of negotiation begins from the mindset you have.

It then extends to the plan you have laid out to get what you want.

This is followed by the applications of the strategies and tactics in the pursue of your intention.

Finally, make sure both parties walk away with the win-win outcome.

Since we can never avoid negotiation and we are always negotiating, isn’t it time to devote some time to improving our negotiation skills? This will help ensure that we can get the things we want, more often than before.

The next time you want something, you know you have to negotiate for it… and excel in it.

Outcome Of The Deal

June 27, 2007

Whenever people step up to the negotiation table, they hope to get the best of out of the deal. However, what many do not realize is that very often, the outcome of the deal is somewhat determined even before you and the other party meet at the table.

Be it a win-win, lose-win, win-lose or lose-lose outcome, various elements comes into play. Massive advantage goes to the team that has the following determining factors all ready BEFORE you meet to negotiate.

1) Preparation and Strategy

2) Information and Data

3) Controllable Resources and Assets

4) Mindset and Character

5) Team Synergy

What if you don’t have all these five factors to your advantage and you step onto the negotiation room?

Then DURING the negotiation, the one vital element that presents any real hope of turning around the losing situation is this:

Eloquence of the negotiator

Now that you know about this, how can you put your negotiation to your advantage?

Best wishes on your coming deal.