Winning Clients and Closing Deals: The Key Concepts Behind Business Negotiations

https___blogs-images.forbes.com_forbescoachescouncil_files_2018_04_960x0-1-5.jpg

Negotiations are an inherent part of business. This can be as simple as purchasing inventory or as complex as negotiating a merger of two companies. In short, many deals and transactions require negotiations.

Make sure you get your perspective on negotiations right.  It’s not a friendly outing at Starbucks. It’s a challenge that you must win by playing cool while the other party falters. You have to extract the best deal possible. You will have to sell hard. It’s a tried and tested way that’s proven to work much better than a soft sell. However, negotiation, like most other processes is a certain skill that has to be learnt and polished over time, mostly through negotiation training.

Aggressive People Win

Your stance has to be clear. If you are meek, passive and timid then you are not going to win many good deals. This can clearly be evinced for example by checking out the best lawyers. Negotiations are routine for lawyers. The most fearless, ruthless and downright belligerent lawyers are the winners in the negotiations game. They can easily intimidate people into agreeing to their terms.

Be Nonchalant Under Pressure

Knowing the relative strengths of the negotiating parties is extremely important. For example, as a vendor you are confronted with the question ‘there are so many other vendors out there, why should I pick you?’ Present all of your strengths, expertise and experience. At the end, you should insinuate that if you don’t go with you then you will not be available for them in the future. The time to act is now. Don’t betray your trepidation. If you make that mistake then the other party will bully you into compromises and concessions. Just show that you are in no hurry and you can walk out of the deal with perfect equanimity. This is an old ploy successfully leveraged by the best poker players. They know that even with a mediocre hand they can play on the fears of their opponents to win. To execute this high-level kind of negotiation, you will need to learn from experts with some serious negotiation experience, for which there are negotiation firms out there that teach these skills.

Don’t undersell easily

The prospective buyer will prod you to offer your best price. Be stubborn and don’t be cajoled easily. If you naively give your best quote the conniving customer will still say that it’s not enough and will ask for more. If you have to give discounts then do so very slowly always keep some room to maneuver. This way you will wind up giving a 4 percent discount instead of going all the way into double digits for instance. A little obduracy can pay.

It’s More Than Just the Price

Pay very close attention to the terms in addition to the price. If you get a low price you should be concerned as to why the other party is underselling itself and you should ask appropriate questions concerning quality in a judicious manner. If the price is too high then you should confront the seller with market data and say that such a high offering is not vindicated in the light of current market conditions. Keep asking questions and pay very close attention. Be skeptical and don’t accept anything at face value. Seek upfront evidence for any claims. Negotiation consulting can teach you to be this savy in a negotiation so you never get a bad deal.

Write It Down

When you understand that the other party is no longer willing to compromise then have them write down their final offer on paper and show it to your lawyer. He will advise you whether or not it’s a good deal. A lawyer can tell which terms are problematic. You can then decide at leisure whether or not those terms are acceptable to you. Invite your partners and associates to pore over the details and ask for advice from knowledgeable persons who have experience and acumen in this regard.

Cultural Values Matter

Due to the international nature of trade, you must pay attention to cultural values and sensibilities. For instance, when Enron was negotiating with Indian authorities, it lost its bid to some other company because the government thought that Enron’s pace of negotiations was too fast. It’s true that time is money but in many parts of the world, people like to take their time when the deal is big.

Successful business in this modern era starts with sound morality

business-leader.png

The modern business market is vastly different from the one that existed fifty years ago. We have evolved and shifted through countless eras and innovations to get to where we are today. The present-day business model centres around a healthy workplace environment, a positive team experience, and a passionate employee mindset. And at the heart of it all, successful business in this modern era begins and ends with sound and consistent morality and it doesn’t hurt to have great IT support. Without a persistent drive towards morality, there is nothing. We are more inherently focused than ever on maintaining a happy, healthy quality of life and overall lifestyle, and seeing as we spend (on average) a third of the working week at our jobs, it makes perfect sense that there is more of a drive towards maintaining morally sound, overall positive environments in a business workplace. It is entirely fair that employees want to be treated with dignity and respect, and it is perfectly acceptable to expect all modern businesses to not only comply with this ideal, but to constantly strive to ensure that it is met with the utmost dedication and effort.

First and foremost, it is crucial to understand the difference between a boss and a leader. A boss is someone who stands at the forefront of a ship while their employees tirelessly work to steer the ship in the right direction. A leader, on the other hand, is someone who is amid the chaos, working with their team to bring the ship to the safety of the shore. While a boss steps back and allows his employees do all the hard work, often (if not always) taking credit for the results of that hard work, a leader makes his team stand with him, and even pushes them to the front when the crowd cheers wildly for their efforts. Any good employer aims to be a leader, but only the hardworking, truly great ones effectively become one. We exist in a modern society that, above all else, values the values of teamwork, respect, and positivity, and no modern business can hope to thrive without these ideals and a leader driving the business forward, onward, and upward into new elevations of exceeding success.

The key to creating a business that prospective employees want to be a part of is ensuring that the workplace functions in a healthy way. It is all well and good to say that your company can provide candidates with a great environment to work in and a positive team, but words are just words without action. When your employees are happy, they do their best work. the same can (and should) be said for circumstances where employees are, for whatever reason, unhappy. To get the most out of any business’ employees, and to ensure that the company thrives at its highest possible frequency, the most important thing is maintaining that healthy, positive business model. The core of the business should resonate with the most positive employee experiences. That is how businesses get reputations as highly sought after companies, that is all there is to it. Well, that and a lot of hard work and determination.

When it comes to running a successful business in this day and age, everything starts with sound morality. A leader operates with morality in the back of his mind because it comes naturally and effortlessly. A leader understands that to attract – and keep – the top talent in this modern marketplace, their business must create a sense of imminent drive and whole purpose. There must be a sound reason and a just cause for employees to want to choose to work – and stay – with the business. Anything less and the business is not likely to last very long, not in this modern era. Present-day society demands that any business in operation today can maintain all these positive values, even when the going gets tough (because it will…no path to success is ever a completely smooth one). When it comes down to it, nothing worth having comes easily, and when it does there is probably a bump waiting around the corner.

The world of modern business has successfully made it through countless eras and innovations to get to where it is today. The present-day world of business focuses on the health and quality of life of all employees and business owners. While one owns the company and the others work for it, there should not be a differing level of respect held dependent on which post an individual holds. These days, prospective employees expect and pull favour towards businesses that can and will adequately meet their expectations. Their expectations centre around working in a healthy, positive business environment while feeling driven, challenged, and impassioned by their work. Businesses that are thriving are doing so because they are not stupid – these are the businesses that have recognised the traits of a workplace that matter to candidates and prospective employees entering the workforce. Luckily, they are (most of the time) more than willing and able to comply.

Postnatal Work Blues? Governments And Corporations Can Play A Crucial Role In Mitigating This

1100_story_Depression_Experiences.jpg

For decades, maternity coaching in the private sector has been at a prominent space. The industry is crucial to help mothers’ transition to their new role, both at home and at work. Giving birth brings with it a myriad of emotions and can be one of the biggest transitions for a mother in a world that’s changing by the day. It marks a new identity for both the parents and oftentimes, new parents seek services from maids, nannies, babysitters, if they do not have family member available to help out. The arrival of a new child demands ample support and planning to help the new parents feel comfortable when returning to the workplace.

This transition birthed the idea of maternity coaching. An increasing number of MNCs and global firms started relying on maternity programs to support working mothers and retain great talent. These programs addressed issues surrounding individual performance support, balancing family and work, providing day care facilities, feeding rooms, and overall support to aid the transition.

However, over time, this narrative has started to fade. With increasing competition and stricter budgets, organizational support is declining for working mothers who return to work after maternity leave. In a recent survey, it was revealed that the lack of organizational support was taking a toll on their physical and mental well-being, with nearly 37 percent of the respondents contemplated resigning from the organization.

The numbers aren’t all that rosy, either. Just under a fifth felt happy and confident returning to work, and a large number saw many of them unsupported and isolated. In today’s corporate space, maternity leave is seen more as a problem than a benefit provided to expectant mothers.

Motherhood can be a tricky phase, especially when wading through a career, while still managing to invest the time and energy to juggle duties at home and at the workplace. One might think there’s ample support built in to the system, however data states otherwise. Nearly 77 percent of mothers faced discriminatory issues while at work, during their pregnancy, while at maternity leave or after kick-starting work post their break. What’s alarming is recruiting agencies also carry some amount of bias when hiring pregnant women.

Oftentimes, maternity leave is seen as a downside to hiring – but what many fail to see is the opportunity to tap into talent that can churn massive growth and huge long-term benefits to the company.

With increasing competition in the market, another downside for to-be-mothers is the growing concern of an active job profile when returning to work. Reports highlight that in Australia, over 32 percent of mothers experience discrimination, and some reported that their managers had informed them that their jobs were no longer available.

The furloughed staff remarked that firms that undergo restructuring bank on those on maternity leave to be removed from the organization first. The discrimination did not stall with redundant jobs or restructuring of companies, mothers were dismissed, or their contracts were not renewed due to their maternity break. Many were subjected to discrimination related to their job role, income and work flexibility. It can take a variety of forms – sometimes by not enabling the staff to tap into the right growth opportunities or options for promotion.

Despite societal pressures that imply a newborn is best looked after by the mother, paternal leave is also crucial to maintaining a solid work-life balance for the couple. Although the idea of paternal or parental shared leave was effective for years, many companies shy away from normalizing it.

For many employees, the leave policies on shared or paternal leave, if there exists one, is simply too complex or bureaucratic. Lack of awareness or communication by the employer also discourages employees from availing these benefits.

With shifting growth strategies and business environments, corporations should recognize the importance of taking care of expectant parents. This commitment can go a long way in increasing the employee’s performance, attitude and commitment to work. Governments can play a key role in driving companies to provide ample support to parents, through means of legislations or incentives.

One of the best examples for a successful uptake in parental leave is Sweden, where parents are entitled to sixteen months of paid leave with just one catch – the leave must be shared by the parents. To erase the social stigma of shared leave, bigger industries need to pave the way from smaller companies to follow suit. Silicon Valley’s top tech players, Facebook and Google, have enabled just that. To build an employee culture that fosters empathy and employee support, liberal leave policies were provided by the firms. The perks were plenty – consulting firm Accenture saw its employee attrition rate almost halve and they thrived in their roles after returning to work.

Providing the right flexibility to employees and embracing changes, while still encouraging employees to grow, can greatly improve talent retention, boost staff morale and enhance leadership and innovation.

A deeper look into Gamble vs. United States and the plausible legal changes ahead

bradley-reading-1200.jpg

Laws across the globe vary by country. Each democratic governing nation has the ability to continuously change law based off new case hearings. For the United States, their law dates back to English Common Law which is a historic period of protestant and catholic separation and reformation within the scope of religion being the basic premise for decision making under a jurisprudence court. When the United States separated from Great Britain and gained their freedom after the Revolutionary War, they were able to create their own government and do it in a truly democratic way. Although the French were honest pioneers of democracy, the United States took their own spin on government making it a republic of democracy where states would govern themselves, but federal law would continue to always trump state law. The United States of America sends representatives each election term from the electoral college to vote in favor or against the upcoming candidates and laws. Although the situation of having an electoral college has been persistently argued in recent years, it still remains the way of decision making during elections.

Although historically recognized as English Common Law, today the United States often changes law based off of the judiciary branch. The Supreme Court of the United States (SCOTUS) will hear cases throughout each term year and then deliberate and decide on how to move forward with either citations or a changing the law itself with new verbiage that creates current accuracy. Frequently, it is stereotypically thought that law is only created by the U.S. Congress, yet that type of thinking can be highly inaccurate because case law frequently determines going forward.

The interesting understanding of case law is that it takes a higher intellectual knowledge and thorough understanding of previous cases. Case law is determined by previous precedent. A lawyer in hopes of getting his or her case to SCOTUS will first have to argue in a state court then appeal to a state supreme court of appeals before being granted a SCOTUS case. SCOTUS is the highest court in the United States with 9 justices on the bench. As cases are scheduled to be heard, the public informants generally take their stance on the situation explaining possible outcomes of each decision that could be made. In one recent case heard, Gamble vs. United States, the instance of the double jeopardy clause in the Fifth Amendment on the Constitution is under review.

Terance Martez Gamble was convicted for possession of a firearm as a previously convicted felon. Gamble petitioned to SCOUT that the separate sovereigns exception in the fifth amendment can elicit double jeopardy because a person can be tried in both a state and federal court. Gamble was tried in a federal court and given a sentence duration of one year. After appealing, he was tried again in a federal court and sentenced to 46 months in prison. The claims of his legal federal criminal defense team are that being tried for the same crime is a double jeopardy. The double jeopardy clause claims that a person cannot be tried twice for the same crime; however, under federal jurisdiction of the between state and federal court, a person can be tried in each court. Gamble vs. United States was argued on Dec. 6th 2018, but the ruling is still pending. This case could determine a factor of things regarding the legal future of the United States. First, the Special Counsel investigation into the Trump campaign is concerned due to the fact that this case, if ruled in the favor of Gamble, could not allow states to hear cases from people that president Donald Trump has pardoned at the federal level. It also calls into question a further logical review of double jeopardy and the entire due process for appellate courts. The special rule involving separate sovereigns exception is because the United States is built on the foundations that states govern themselves. It would create an odd facet of combined legal gray area between state and federal courts. The reasoning behind the dual sovereignty doctrine is more than just keeping a healthy separation between courts; it also is in place for the understanding that state offenses may greatly differ from federal offenses. Given the varying underlying differences the prosecution of federal criminal defense and prosecution at the state level, this is why SCOUTS has upheld the dual sovereignty doctrine within the Fifth Amendment which also explains double jeopardy.

Legal analyst argue over which side is correct, but at the current moment, it is truly up to SCOTUS to make their decision for the future of the United States. Some lawyers that are in favor of Gamble make claims that the sovereignty clause is essentially one large loophole for state and federal courts to get away with double jeopardy. The individuals in favor of the United States believe that keeping a separate sovereign doctrine allows further emphasis on the fact that states govern themselves and appellate courts are in place for important reasons.

Fashion industry finally becoming body-inclusive

fashionmain-2014091009305823.jpg

The fashion industry has an unfortunate reputation for being exclusive in ways that are not always overwhelmingly positive. Over time, there have been multiple instances where the fashion industry has come under fire for its current trends or decisions. Some previous missteps include the fur era, casting strictly Caucasian, tall, and tiny models in all shows, and recently the evolution of leather becoming a less desirable material. But the most recent and perhaps even most important evolution in the fashion world has been the fact that the so-called plus size market has been grossly marginalised and underrepresented by most fashion brands. It has taken a while, but the fashion world is finally becoming more wholly inclusive. Further, consumers are taking notice and driving their business towards brands that have a focus on accepting and catering to individuals of all sizes.

It is about time that fashion recognised that they need to be aware and supportive of individuals that are different to their traditionally-held (ridiculous) standards. Anything else in this day and age is irresponsible and, more to the point, should not be acceptable. It is time that the industry realises that their “one size fits all” mentality is not healthy or realistic in this modern era. While the fashion world has been busy parading their latest looks on runways during fashion weeks and peak seasons, a significantly large percentage of consumers have been left feeling lost at sea and excluded from the excitement. Fashion should be about fun, complete inclusivity, and being bold. The traditional fashion industry depicts none of these ideals, but the modern mentalities arising as new generations begin to become the fashion industry’s target demographic are [finally] beginning to take hold.

The “plus size” mentality that has historically run deep in the fashion world is damaging not only to the hard-working models who have been taught and shown time and again that their body type is “too much” for traditional fashion, but also the young consumers buying these fashions and the brands making and selling them. The average woman in the United States is a size 14 to 16. When such a large percentage of the target demographic fits into the same size that is being campaigned so heavily as “plus size”, the term plus size does not make sense. In short, these sizes are just the same as all the others – sizes. Nothing more, nothing less. Brands have begun to either stock all sizes in the same fashions, doing away with “plus size” ranges altogether, or marketing the fashions differently (and, frankly, less offensively).

The shift in the attitude in the fashion industry towards larger sizes has been promising (to say the least) but there is still a long way to go. It seems that every time the fire dampens around the explosive conversation of larger sizes and models being used in fashion branding, the war ignites again. Even when the issue is put to bed, there is unrest surrounding the morality of it all. fortunately, more and more big name brands are leading the charge to eliminating the stigma surrounding larger sizes in fashion, but even so, there is a tidal wave of change necessary before the change is lasting. There are still some high end, globally recognisable brands that have yet to embrace the inclusion of plus-size models, as well as transgender models.

Victoria’s Secret is one of those companies. A titan of industry in the lingerie world, Victoria’s Secret is a fashion house that has built its empire by having only the most traditionally beautiful women walk. These women also happen to be tall and quite slim. This attitude and conscious decision on behalf of the brand has created an exclusive brand that, more and more often, buyers are becoming uncomfortable with. Certain fashions should not be exclusively available to certain sized individuals, and every shape and size of the human body should be celebrated – especially in high fashion. The fashion industry is one that has been through countless evolutions in its time. One of the oldest industries in the world, the fashion sector has had its fair share of ups and downs.

Having to fight tooth and nail to overcome the pitfalls caused by its own internal errors, the fashion world has been a consistently prominent industry around the world. the most recent (and perhaps the most disturbing) blunder has come as multiple fashion houses have refused to modernise and cater to individuals who wear larger sizes. We are thankfully seeing the beginnings of a tide that is shifting towards positive resolution, but there is still a long way to go. While some fashion houses are too emboldened in their own ways and thus will likely never change, the majority that are ready and willing to change are the ones who are becoming more popular among modern consumers. One size does not fit all, and it is about time that the fashion sector realised this and took conscious steps to include fashions of all sizes.