BLOG

The Importance of Personal Relationships in Negotiations

admin

0

Experienced negotiators know the importance of building a personal relationship before going into business negotiations. A negotiation involves two parties trying to come to a deal when both sides may want different things. An overly heated atmosphere and anger can unravel the most carefully planned deal. You can avoid many problems when you establish a personal relationship with the people who will be on the other side of the negotiating table. 

You Are Working Together

A personal relationship with the person or people against whom you will be negotiating prevents an adversarial relationship from souring the deal before it starts. If negotiators see themselves as adversaries in a confrontation, both sides tend to become defensive and reactive with each other. In this situation, asking for even a small concession is seen as an encroachment or an attempt to take advantage of the other party. However, if the parties share a personal relationship, it is easier to put these give-and-take dealings in the context of building consensus. If your opponent believes that you are genuinely looking for a mutually beneficial deal, he or she is far more likely to make a concession. 

Focus on Business

Remember that business is business. If both parties didn’t have divergent needs, there would be no need for negotiations. Both parties will be asking the other to give up something. This can create a difficult atmosphere if you’re not careful. Never make personal attacks or attribute any combative exchange to malice on the part of your opponent. When things are getting tense, suggest a break. Taking some time away from the negotiating table can help you steer the conversation back to your personal relationship. Remember to not take things personally. 

Know Your Opponent

A good negotiator will build a personal relationship with the person against whom they will be negotiating before they even get to the table. This means making those important social calls to your opponent. The key is to frame yourself as a friend first and a negotiator second, which transforms your relationship from competitors to cooperators. This can provide a positive perspective on the person with whom you will be negotiating. Understanding what they want, can also help you get what you want.

Building personal relationships between negotiators is an essential part of reaching a deal. Remember to not only get to know the positions from the other side, but the people with whom you are negotiating as well. Focusing on your cooperation can be the element that closes the deal.

Navigating Negotiation Stalemates

admin

0

Every businessperson has experienced a negotiations stalemate. Compromise has faltered, neither party is willing to budge, and there is nothing more to say. A successful negotiator knows the way out of a stalemate and how to seal the deal.

Stay Professional and Keep the Client

Before trying to get your opposition to budge, think hard about what you are willing to do to keep this client. Make sure you are being smart about considering compromise. What is the smallest concession you are willing to make? Is this concession worth keeping the client? Negotiation isn’t always about getting your way on everything, sometimes to get what you want, you have to know and help them get what they want.

Your tone should remain professional, no matter how heated the negotiations become. Be courteous. Avoid the “buts” – saying, “I understand your point, but …” just tells your opposition that you are rejecting their points. Shift the conversation to finding joint solutions. Ask them, “How can we make this work?” Build relationships is much more profitable in the long run than burning bridges in one deal.

Breaking the Barrier

You’ve made all the concessions you are willing to make. Now is the time to break through your opposition’s objections. The first step is to understand the other person’s stumbling block. Get this information by being honest about your sticking point. This invites them to tell you why they aren’t budging. You will be able to address their concerns from this information.

If you aren’t getting anywhere at the negotiating table, it may be time to shift focus. The key is to change the context of the conversation to something else for a while. Get the client out of the combative mindset by suggesting a break. This allows you to engage with the opposition in a social context and gives them a chance to get to know you on a personal level. You can also talk about future business opportunities your two organizations might share in the future. More important, it gets them out of the adversarial mindset.

Power Moves

Breaking up the negotiations when they have stalled may be your only option. If you have the upper hand at the time, you can suggest a cooling off period. This is a better move to make when you know your opponent wants the deal more than you do. The prospect that you are willing to walk away may be all that is necessary to get the other party to budge.

If you don’t have the advantage in negotiations, it is still possible to shake up the negotiations by buying some time. Telling the opposition that you would like a legal opinion is a card you can always play. Most business-people understand the need for legal advice. This keeps your negotiations open and buys both of you some cooling-down time.

Keep an Ace in the Hole

When all else fails, you should always have a trick up your sleeve. Before you go into negotiations, prepare something you can use to push stalled negotiations over the edge. Use alternatives. A deal, a discount, or a special offer can go a long way to closing the deal.

Making Workplace Conflict Work for Your Team

admin

0

Workplace conflicts arise often. It’s important to know how to handle them and to recognize the opportunities within them. It’s easy to work past a conflict and then pretend nothing ever happened, but you may be missing valuable opportunities to fine tune your employees’ communication skills and grow your business.

Identify the Conflict

First, you need to know the source of the disruption. Workplace conflicts happen between employees and their superiors, between coworkers, and between employees and customers. The final type requires the most careful attention: you need to be able to defuse a conflict without alienating anyone. One of the golden rules of salesmanship is that it’s okay to lose a sale but not a customer.

Gain an understanding of the situation – often you’ll find that you can defuse a conflict easily if it arose from miscommunication or a small discrepancy.

Pinpoint the Cause

In the sales industry, conflicts arise most often from miscommunication. The wording of a return policy or product specification is ambiguous, an employee misspoke, or something else was lost in translation. It’s important to recognize what type of conflict is happening, but it’s more important to acknowledge why it happened.

When customers complain, they can sometimes pinpoint issues within your business you may have overlooked. Although this is frustrating, ultimately these situations are good things for both the company and its customers. Once you identify the source of a conflict, you can remedy the situation so the customer leaves happy and willing to return, and then you can address the underlying issue to prevent future occurrences.

Ask for Solutions

When two parties butt heads, one of your first steps to resolving the issue should be to ask each party what they want to see happen. When it comes to arguments or disagreements between employees, sitting down with the employees involved can uncover issues you may have overlooked, and then everyone benefits from mediation.

When you’re dealing with customer conflicts, you’ll typically need to make up for their frustrations in some way. This may come in the form of an extra coupon for a future visit, a one-time discount to make up for their lost time, or another similar measure. It’s important to stand your ground in the face of unreasonable customers, but do so respectfully. Even the most grating and disrespectful customers can be boons to your business if you know how to approach them.

Work Toward a Resolution

Once you’ve identified what’s happening, who is involved, and what each party wants to see happen, you can work toward resolving the conflict. Every situation is different, so you’ll have to use your judgment to determine the best course of action. Once you do, make clear each party’s responsibilities going forward.

Workplace conflicts happen all the time in every industry. It’s important that you approach them with a clear head and calm demeanor. Sometimes you’ll solve more than just the immediate problem, and fix a newly discovered issue you never knew you had.
Sources:
http://www.amanet.org/training/articles/The-Five-Steps-to-Conflict-Resolution.aspx

6 Steps to Conflict Resolution in the Workplace


http://www.learningpeace.com/pages/LP_04.htm
http://www.mediate.com/articles/bermanlj3.cfm
http://www.saylor.org/site/wp-content/uploads/2013/03/BUS208-5.3.6-Steps-to-Resolve-Workplace-Conflict-FINAL.pdf

Creating a Team-Focused Workplace Culture

admin

0

Workplace culture is a crucial element of any industry. Most modern employees don’t just show up to work for a paycheck – they want to be valued and see the effects of their work as part of a bigger picture. As a leader, you need to foster a positive workplace culture that resonates with your brand identity and company mission statement.

 

How Workplace Culture Impacts Your Business

In the workplace, employees want to know they aren’t easily replaceable and that their employers value the work they do. Fostering a positive workplace culture isn’t just a side project – it has a direct effect on your company’s bottom line. Employee satisfaction and retention are big parts of why workplace culture matters. Your business is only as strong as your weakest employee, and employees who are invested emotionally in their work are rarely weak.

Know Your Brand

Today’s market demands that you stay relevant in a sea of competition. If you’ve had an idea, chances are your competitors have, too. If you make a misstep, your competition is going to see it and capitalize on your failure. Your brand identity plays a large role in your workplace culture: the image you convey to your customers has to resonate with your employees. You should always strive to be the company whose customers wish they could work for you.

Keep Your Team Involved

Creating a cohesive and progressive workplace culture means valuing the input your employees have. Some employees may hesitate to criticize their employers for fear of job security, so it’s important that you convey that you value honesty – good or bad – for the sake of the company as a whole. Make it clear that you will never meet honest feedback and constructive criticisms made in good faith with reprimands or disciplinary actions.

Always take the time to ask your employees how they feel about the work they do, the processes involved, and if they can think of ways to improve day-to-day operations. Your employees view your workplace differently than you do, so it’s important to try to adopt their perspectives when you conceptualize a workplace culture.

Recognize Value

Part of your workplace culture depends on how your employees interact. Look for groups or pairs of employees who bring out the best in each other’s work, and foster those relationships. You should always be looking for ways to improve your business. Your employees are your best resource for doing that. Teamwork happens when employees know what you expect of them and what roles they play in your brand. Make sure your workers know they’re valued, and that the company’s success depends on their personal success.

 

Sources:

http://www.inc.com/peter-economy/5-ways-to-build-an-extraordinary-team-culture.html
http://www.lctmag.com/operations/article/107639/how-to-create-a-team-focused-culture
http://www.forbes.com/sites/groupthink/2013/10/04/how-to-build-a-great-company-culture/#673b42af3ab2
https://www.shrm.org/resourcesandtools/tools-and-samples/toolkits/pages/developingandsustaininghigh-performanceworkteams.aspx
http://www.huffingtonpost.com/dr-jim-taylor/build-a-positive-and-high_b_3659341.html

How to Influence Without Being Pushy

admin

0

Sometimes leads are already interested before you start your pitch, but how you attempt to influence them will make or break the deal. There’s a big difference between influencing and selling – your audience is less likely to take your words to heart if you come off as pushy, rehearsed, or “salesy.”

When it comes to influencing people, a few key strategies will lead you to more effective interactions with more positive results. Keep the following in mind.

Build Trust

When you have rapport with other people, it’s easier to speak with them. You need to be able to reach people on a personal level while staying professional. Carefully listen to their concerns and address them fully. Try to take your resolution a step beyond what they may expect from you to show them you are acting with their best interests in mind. Find common ground and work from there. You cannot force people to do things. Instead, you should try to persuade them to want what you want.

Focus on Positives

Of course, you want to be able to relate to the other party if you want them to see things your way, but it’s important to stick to your guns while staying positive. Instead of sympathizing with their complaints, get them to focus on the positive aspects of your discussion. Demonstrate value and emphasize how they will benefit from the decision you want them to make.

Speak Naturally

You may work on your speaking technique in private, but it’s important to be prepared without sounding rehearsed. If you want to influence people, the number one way to fail is to to be unprepared and not know what you are trying to say or sound like you’re selling something or reading from a script. Speak as you would in any other conversation (again, remember to stick to your professional boundaries) and be relaxed. Pay close attention to body language – both the other party’s and your own. Don’t come off as rigid, closed-off, or unapproachable. People will be more willing to converse and be influenced if it feels natural.

Generate Enthusiasm

One of the best methods of influencing others to do what you want is to demonstrate what an amazing opportunity they have and make them excited to see it happen. Generating energy and enthusiasm is a great way to get others on board with your vision and get them to see things from your perspective.

Be Adaptable

Your conversation style needs to be flexible – you can’t speak with everyone in the same way, and every interaction has unique factors that you need to consider. This is the biggest reason that maintaining a natural demeanor is important – when you lock yourself into a routine, it becomes much harder to deal with the unexpected. To influence the other party, you need to be on your toes and ready to handle any question or concern they have. .

Keep these tips in mind as you prepare for your next major conversation. Remember that influencing is all about getting other people to want what you want – not hammering them until they see things your way.

18 Proven Sales Tactics That Work in Any Industry

admin

1

Developing a strong sales program is the most critical aspect of any business. Without effective sales strategies, companies will not be able to compete and grow. Sales professionals must learn how to implement proven sales tactics that work.

As a sales team manager, one of your responsibilities is to provide your team with effective sales strategies that will increase your company’s profits. Effective sales processes are not just about working hard and putting in long hours. In fact, many sales teams work long and hard without experiencing results.

sales professional at work

Effective sales strategies involve employing the best strategies in the right situations. Here are 18 sales tactics that can work for sales teams in every industry.

  1. Be persistent with leads and develop the habit of following up with each customer. According to the latest sales research, 80 percent of sales transactions require 5 interactions after the first contact with a customer. Many salespeople are primarily concerned with immediate sales. If they do not get the sale at the first meeting, they silently give up and continue their hunt for the next immediate sale. However, savvy sales professionals understand that they must nurture viable leads until an action is taken. These ‘rock star’ sales professionals send emails, direct mail, make phone calls or send brochures to customers at designated intervals. By taking this action, your customers will think of you when it is time to make their next purchases.
  2. Solve your customers’ problems. Successful businesses thrive in competitive industries because they provide solutions to meet their customers’ needs. There are many sales professionals who do not fully understand their roles in the transaction. Consider this fact. As many as 70 percent of your leads are reaching out to you to solve their problems. When customers contact your sales team, your sales professionals must be able to demonstrate to them how they can quickly and easily solve their problems.
  3. Develop the ability to actively listen to customers. Customers have access to pages of information on the internet. In many instances, they may be as knowledgeable as your sales team. When sales professionals interact with knowledgeable customers, they might be tempted to talk constantly to show them that they are qualified. It is important to remind your salespeople that they should never get into a knowledge power struggle with customers. Sales professionals should always listen more than they talk. They should ask questions that probe into their clients’ thought processes and carefully consider the responses. The goal is to make customers feel as if they are respected throughout the sales process.
  4. Use polite terms when you discuss the competition. Your sales team should always strive to present themselves in a positive light and use professional language. There is nothing that screams unprofessional like using derogatory terms to discuss other people or companies. Although customers may participate in the negative conversation, bad mouthing any person or company is never a good sales tactic. If a competitor does not have a good reputation, the members of your sales team should remain neutral.
  5. Earn your referrals before you ask for them. Sales professionals know that referrals are the proverbial ‘holy grail’ of marketing. In fact, 91 percent of customers will provide a referral contact to a salesperson that they like. Before you think about asking your customers for referrals, you should focus on providing them with a quality customer service experience. During the transaction, your goal is to develop positive relationships with your customers. After you have determined that they are happy with your services, it is a good idea to pursue the referrals. When it comes to soliciting referrals, timing is important.
  6. Ask for referrals from your customers. You might not believe it but only 11 percent of sales professionals ask clients for referrals. According to this data, the majority of salespeople are leaving money on the table. Most customers are generous, and they would happily share your good customer service with friends, family members and colleagues, but you have to ask. If your sales team waits for their customers to initiate a conversation about referrals, it might never happen. Teach your sales team how to integrate referral conversations into the sales process at the appropriate time.
  7. Adhere to strict deadlines with your customers. Sales professionals must create a sense of urgency with customers, or the deals will take much longer than necessary. Changing deadlines according to the whims of each customer makes sales professionals lose credibility. The old adage, where there is a will there is a way, applies here. If customers want to meet the obligations of a transaction by the deadline, they will definitely find a way to make it happen.
  8. Develop relationships with your customers. Without customer relationships, it can seem as if you are always in the vicious cycle of trying to ‘drum up’ new business. Your past customers can be an excellent source of new transactions for years to come. When your initial transaction is completed, you do not have to end the relationship at that point. Find creative ways to keep in contact with your customers.
  9. Identify your customers’ needs and meet them. Sales professionals should never lose sight that the only purpose of the sales transaction is to help customers. Since transactions are closely associated with money, it is easy to lose sight of this fact. Create a list of questions that you can use to pinpoint exactly what the customer needs from the transaction. These questions will enable you to save time with customers and get to the heart of the matter. Once customers believe that you understand their predicament, they will work with you to meet their needs.
  10. Be able to distinguish a lead from a customer and act accordingly. Brace yourself for this disheartening fact. According to a report by Gleanster Research, only 25 percent of all leads are legitimate and ready to complete a transaction. Leads are potential transactions, and you cannot bank your future on potential. You should categorize your leads and create campaigns to interact with each type. For example, warm leads should have a different marketing strategy than cold calls. Time is a limited resource. It is best to use it wisely.
  11. Solicit targeted leads. A difficult lesson for many sales professionals to learn is that every person with a pulse will not be a customer. Since this is the case, sales professionals must create a strategic plan to attract customers that fit their target markets. One way to do this is to make good use of technology to find leads that could use your services. For example, credit professionals who are targeting people who are recovering from bankruptcy can use the public record to find people who fit this profile. Once you have found your potential customers, create a customized sales pitch that will appeal to each demographic.
  12. Learn to uncover each customer’s pain points. Television advertisements are known for pushing the viewer’s hot buttons in order to get them to take action. Fear of loss is the most common pain points that advertisers address. The primary mission of every sale professional, as emphasized in our negotiation training courses, is to find a customer’s pain points and use them to their advantage. Ron Shapiro said it best when he stated, “In order to get what you want, help them get what they want.” Sales professionals can start the search for pain points by asking closed-ended questions that only require a ‘yes’ or ‘no’ answer. As the customer begins to feel comfortable, the salesperson should ask open-ended questions that will prompt customers to reveal additional information. Once the vital information is discovered, salespeople can use it to help their customers take action.
  13. Master the art of storytelling. When sales professionals meet with customers, they are usually armed with all sorts of facts and data. Although data may seem important, studies suggest that only 5 percent of people remember statistics after a presentation. However, an impressive 63 percent of people remember stories after a presentation. Sales professionals need to arm themselves with stories about relevant experiences of people who have received favorable results after using their products and services.
  14. Stand by your product or service and offer some type of guarantee. If your customers are willing to part with their cash, your company should at least be willing to offer a guarantee on the product or service. The guarantee can be a refund or replacement. If you are afraid of most of your customers taking you up on a money back guarantee policy, you should not be. Less than 10 percent of customers return items each year. A product or service guarantee provides your customers with peace of mind that lets them know that they are protected in the event that something goes awry.
  15. Find prospects who want the things you have to sell. The best way to navigate through water is to go with the current instead of swimming against it. In sales, going with the current means that if you are selling chicken, your leads are people who like chicken. If your prospects are vegan, then it will be nearly impossible to sell your chicken products to them. If you want to be certain that your clients need the items you are selling, you should pre-qualify them before you actively market to them.
  16. Develop compelling goals and an actionable plan. Successful people know where they want to go, and they develop an action plan to help them propel toward their destination. Goal-setting and planning are critical to any sales team’s success. According to a study conducted by Inc. Magazine, sales teams that set goals realized a 28 percent increase in sales. Teaching goal-setting strategies should be a mandatory part of every organization’s corporate sales training manual.
  17. Show customers proof that your product or service actually works. When you look at infomercials for weight loss products, they often show ‘before and after’ pictures of previous users of the products. They understand that new customers are motivated by social proof. Sales professionals should keep customer testimonials in a binder or in their laptops to share with customers. When customers are able to view the visible proof, they will be more likely to invest in your product or service.
  18. Maintain a positive mindset. This may seem like a no-brainer, but you might be surprised by the number of sales professionals who develop a jaded outlook because of sales slumps. Sales professionals must make every effort to remain positive in good and tough times. Developing a positive attitude has many benefits. Customers can tell when you are not in a good mood, and it will affect the transaction. A positive outlook helps sales professionals look for solutions to pending problems. When your sales professionals are positive, they will be able to handle stressful situations.

In this competitive business environment, sales professionals need to learn all the tricks of the trade in order to close a deal. By using these sales tactics that work, your sales team can learn to thrive in any economic climate.

Telecommuting: How to Train a Mobile Sales Force

admin

0

Technology is steering our personal lives, but it’s also bringing big changes to the business industry. Telecommuting is more popular than ever, and experts expect it to increase. Although firms will never phase out traditional employees completely, making a living from remote locations is the future of work.

Mobile sales teams can be much more cost effective for a business, but they present their own challenges. Training, in particular, is harder to perfect. There are ways to ensure that your instruction is the most effective, however—even from thousands of miles away.

  1. Double up on training and testing. Use the orientation period to gauge potential employees’ compatibility with your company. They should be able to pick up on rules and procedures quickly. Provide ample time, of course, but note applicants who excel. Chances are that they’ll do better in production if the material is more natural to them.
  1. Monitor activity during initiation. Videos and other presentations should include prompts to continue, ensuring that employees are spending time in front of the screen. Tech giant Apple reportedly uses software that tracks mouse movement during training and may even call the applicant if monitoring detects no change within a time frame.
  1. Keep potential employees engaged. Starting the day asking personal questions can make each candidate feel valued. This is especially useful in video conferences at the beginning of group training, allowing prospective hires to build bonds with each other and their instructors.
  1. Create a company Wiki. Keep all the resources your new hires will need in one place. They can quickly reference training material, which should include sections explaining performance reviews, working style, role-specific information, tools, and FAQs.
  1. Go mobile. Most training for those in telecommuting positions is via a computer. NASA is taking a different approach. Using slideshows and tablets, the company is providing maintenance walk-throughs on undersea projects. This is a rather extreme version, of course, but sales teams can benefit from the flexibility as well.

A potential employee may be able to take your instruction to a baseball game or while traveling. Potential employees will be able to learn wherever they go and can have information right at hand when dealing with clients. Instant information in the field—doesn’t get much more efficient than that.

Telecommuting produces happier, more productive, more dedicated employees. It’s also smarter for the environment and the safety of others, since it reduces fuel consumption and vehicle accidents. With the right training program and tools, your mobile sales team can efficiently and effectively cover more ground than ever.

Listening: The Golden Rule of Successful Negotiations

admin

0

You know the feeling of frustration you get when you know you aren’t being heard? It’s the same feeling your potential client has when you place more importance in the pitch you’ve prepared than what he or she has to say during a negotiation. Negotiation is about striking a balance—this isn’t possible without hearing both sides. If you don’t know how to effectively listen, potential clients will stop trying to communicate altogether.

The Importance of Listening

It’s in many peoples’ nature to talk too much when they’re nervous. Silence can feel uncomfortable during a negotiation, so negotiators strive to fill the silence with their own voice. Unfortunately, this habit gives clients the impression you aren’t interested in hearing what they have to say. Instead of nervously filling conversation gaps with empty words, try to listen.

Studies show that people spend 60% of an average conversation talking about themselves. You is a subject you know and feel good about discussing. Reverse the situation, and realize your potential client would also like to spend 60% of the conversation talking about him or herself. Now you may understand why listening is often better than talking during a negotiation.

Talking about the self encourages feelings of motivation and reward. When you allow potential client to talk about their own needs, wants, and feelings, you’re encouraging these positive feelings. Truly listening to a client makes an enormous difference in how they perceive you and your company. Practice good listening techniques, and train your employees to do the same.

Practice Active Listening

True listening is active. It’s a dynamic process that involves acknowledgement, inquiry, and restatement. It’s not static listening while your potential client talks. Psychologist John M. Grohol describes active listening as a skill that “builds rapport, understanding, and trust.” He has a few tips on how to become a better listener:

  • Summarize what you’ve heard
  • Use brief conversation prompts to show you’re listening
  • Repeat things the client says in your own words
  • Ask probing questions to draw more information from the client
  • Take advantage of silence
  • Avoid distraction while the other person is talking
  • Provide feedback to clarify certain points

Active listening not only shows your client that you care about what he or she to say, but it will also ultimately allow you to respond to clients’ needs more thoroughly. Listening is a skill that requires constant practice to keep up. If you master effective listening techniques, you’ll engage more fully with clients and reap the benefits of their appreciation: new business.

How to Sell to Businesses With These 4 Probing Questions

admin

0

The questions you ask during a sales pitch or negotiation can make or break your chance of success. Learning which questions to ask can give you and your sales team a better likelihood of getting the response you want. Asking probing questions during a negotiation is the most effective way to gain momentum, as it gives you the opportunity to learn more about your client and pitch to him or her in a way that hits home.

  1. Open-Ended Questions

Open-ended questions are infinitely more powerful than closed questions. “Are you looking for a new supplier?” results in a situation wherein the client can only answer “yes” or “no.” It leaves no room for the detailed answer you need to make headway with a sale. “What are you looking for in a new supplier?” gives you room to push a sale even if the client didn’t know he or she needed a new supplier.

  1. Open Opportunity Questions

It’s important for you to give potential clients a say during a sales pitch. Although your company is the one doing the pitching, letting a client speak about what they want from you will let them know you’re listening and responding to their needs. Ask questions such as, “What do you think of this solution?” instead of “How about this solution?” to encourage them to give a detailed response. Listen to every part of the response, and use the information to your advantage.

  1. Loaded Questions

If you can skillfully execute a loaded question, it can subtly push potential clients in the desired direction. Ask questions that prompt certain responses, such as “How are you liking your current supplier?” Almost imperceptibly, you’re implying that there may be something wrong with your potential client’s current supplier. If you instead say, “Tell me how you like your new supplier,” you’re pushing the client towards a more positive response—leaving less room for you to show them how you’d be a better fit.

  1. Thought-Provoking Questions

We’ve saved the most important category for last: thought-provoking questions. Questions about your potential client’s thought process are probing enough to gauge insight into a person without prying. Ask a client to provide more detail about his or her process, or ask how he or she reached a certain conclusion. Let the client know you’re truly interested in what he or she has to say, and listen to his or her response carefully. When you ask deep, probing questions during a sales pitch, you establish yourself as an expert negotiator.

EDGE Program Reflection

admin

0

By: Ronald M. Shapiro, co-founder and chairman at SNI

As I reflect back on my opportunity to impact the participants of a Global Executives program known as EDGE, I wanted to share some background on the program, what my role was, and a participant’s testimonial on how The Power of Nice has enhanced his negotiation skills.

What is EDGE?

EDGE stands for Baltimore Emerging & Developing Global Executives.  It is a program that was started in September of this past year by the World Trade Center Institute (WTCI).  For those of you who are not familiar with WTCI, it is a non-profit, 501 C3 organization that helps to educate, support and connect Maryland companies to opportunities around the world.

What was it about the EDGE program that intrigued you?

As a teacher, I am always intrigued by the opportunity to interact and train business professionals on the art of negotiation, but the EDGE program, in particular, stuck out to me.  It was a program that I knew I could have a profound impact on the participants.

The goal of the EDGE program is to enhance each participant’s business acumen and to increase Baltimore’s international competitiveness.  The program’s duration lasts about 10 months, which includes an off-site retreat, multi-cultural training, meetings with c-level executives, and seven half-day sessions on topics of leadership and global business importance.  This is where I came in.  WTCI invited me to present at one of the EDGE program’s training sessions called the Art & Science of Global Negotiation.

With over 50 years of experience negotiating deals in similar industries to those of the participants, I was able to draw on my experiences and illustrate real-life negotiation examples.  By relating these examples to the participants’ world, they are better able to connect the negotiation principles they have learned to experiences they have had, bringing new light to the principles presented in the program.

Who were the participants in the EDGE program?

The participants were business professionals from a variety of different industries.  These business professionals came from companies such as Under Armour, Legg Mason, Northrop Grumman, Proctor & Gamble, TESSCO Technologies, and T. Rowe Price.  Each participant had 10+ years of experience within their defined industry.

By having an experienced, diverse group of less than twenty participants, I was able to focus on problems that each individual was facing and customize scenarios to replicate real-life negotiations. Through an interactive presentation that included live negotiations, each participant was able to use the negotiation principles presented and apply them in a live simulation – a key to maximizing impact.

Reflecting on your experience with the EDGE program, how impactful was your presentation?

I have taught tens of thousands of business professionals throughout the world – and the reason I continue to teach is because of the impact these programs have upon the participants.  Below is a quote from Perry Menzies of Terminal Corporation, a participant in the EDGE program, as he reflected on his experience.

“For me, some of the key takeaways from the EDGE program came from the powerful session on Global Negotiation presented by Ron Shapiro. This session was very interactive and allowed participants to engage in a mock negotiation situation. This proved to be incredibly well-timed as Terminal Corporation was going through annual rate negotiations as well as quoting new business in an effort to diversify into more inelastic cargoes. Using knowledge from this seminar we were able to successfully negotiate all rate increases as well as negotiate new business that we are confident will minimize the exposure we previously had in handling mainly forest products…” – Perry Menzies, Terminal Corp.

As exemplified by Perry’s testimonial, The Power of Nice is a program that brings real results to real people and can positively impact the negotiation skills of professionals in all industries.