About/Contact Info I am a business consultant for a leading North American business and [+/-] technology services company and have an MBA specializing in management.
Having the ability to deliver a concise and effective sales pitch is an absolute must for entrepreneurs. In his article, "Learning to throw," Canadian Business magazine columnist Jeff Daniels provides some good advice for those wishing to perfect their delivery to potential investors, such as: explaining who you are and what "pains" your company is addressing; what solution you are offering to address this pain; what your business model and competitive advantages are; and how you are going to reach your customers and assess the external environment and your competitors.
If you are looking to hone your sales pitch skills, read the article here. Additionally, you may want to explore some other web resources which make the process of coming up with an effective sales pitch all the more easier. The website 15SecondPitch offers the ability to quickly put together an introduction that summarizes who you are and what you can offer. Try it out here.
In negotiations, people assume different motivational styles in order to achieve their objectives out of the discussion. Three of the most common styles are: 1) the individualistic approach (seeking only to maximize your own goals without consideration for the other party); 2) the competitive apparoach (preferring to widen the gap between what you gain and what the other person loses); and, 3) the cooperative approach (seeking to reduce the difference between the outcomes of both parties).
It should come as no surprise that the cooperative approach is the one which will ultimately yield you the best results. This approach is a blend between a completely altruistic style (where you're giving away too much value!) and a style that is too competitive or individualistic.
When taking part in a negotiation try to keep the following things in mind. In doing so, you will improve your ability to achieve the results you are after, without jeopardizing your long-term business relationships.
Understand what your goals and objectives really are. Prepare notes and don't focus too much on an arbitrary bottom line that you've set for yourself.
Emphasize actual commitments with specific promises from the other party.
Know what your other options are. These are your alternatives should you not reach a deal right now.
Look for ways to add more value for everybody involved. This involves a bit of creativity in order to make the outcome better for you and your counterpart (who will therefore be more willing to agree to your proposal).
If you find yourself spending a lot of time putting out fires instead of focusing on the things that you actually want to get done, the issue most likely comes down to improving your time management skills.
Sure, there will be times when tending to immediate "high priority" tasks take precedence over everything else, but if this always leaves you or someone you know scrambling to get the other important tasks done, you may want to read and share this article for some sure-fire tips on how to address this issue.
How do improve your time-management:
Make a list of the items that you want to accomplish for the week. Write them down on a whiteboard or put them in your task manager or calendar. The important thing is to have them visible so that you remember them and can organize your workdays around them. By writing them down, you also get the benefit of being able to cross them off your list (believe me, doing this is far more gratifying than it may appear!)
Assign deadlines for these pre-written goals. Placing end-dates on these important tasks will help you re-arrange them in order of priority and will also help you sort out the unanticipated work items which will inevitably come your way. Whenever possible, avoid working on your items at the last moment.
Block off time on your calendar and use this time to work on your personal tasks. By doing this, not only do you give yourself a chance to get your own things done, but you also prevent others from booking your valuable time!
Ask questions. Remember to ask about the urgency of the new items that you suddenly find yourself being asked to work on. It sounds simple, yet too often these questions remain unasked and valuable time is spent on items of lesser importance.
Keep track of how you have been spending your day/week/etc. By doing this, you will have a better idea of where most of your time is spent. Look for ways to improve your productivity and efficiency so that next week, you're spending your time much more wisely.
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It is inevitable that there will be situations in the workplace where conflict or disagreements exist. In these situations, the two parties at odds with one another may also have some level of interdependence between them. If this interdependence provides an opportunity for the parties to gain in some way, and if there is a chance for some sort of agreement to be reached, then negotiations can used to reach a suitable agreement for both sides.
As a negotiator, there are several things to keep in mind when attempting to reach a suitable agreement. Keep in mind however, there is no single best way to negotiate; it is important to consider the context or environment in which you are negotiating, as well as which side has the greater bargaining power in the relationship.
With that, here are some suggestions on ways in which negotiation skills can be improved:
Be prepared to make small concessions and reciprocate any similar concessions made by the other side.
Focus on the negotiation issues and the contextual issues and not on the personal characteristics of your opponent.
Try to get past any repetitive points or counterarguments made by the other side to get to the real reason behind their position. By doing so, you will determine what is truly driving their position, and you may also determine their entire negotiating strategy.
If you have the advantage of possessing power in the negotiation, do not be afraid to use it. Make specific demands that must be met; be persuasive in these demands; and don't hesitate to make mild threats. Being in this position affords you the opportunity to negotiate in this way.
As mentioned previously, be conscious of the environment and the context within the negotiations are taking place. Realize that your opponent's behaviour and/or their power is affected by the fact that the environment is not exactly harmonious at the moment.
Ultimately, you are out to reach an agreement - one that satisfies your needs, and hopefully also the needs of the other side. Effective conflict resolution involves knowing your own personal style, which can either be: accommodating, collaborating, avoiding, or dominating.
Compromising is an approach that combines each of these four styles and involves finding an acceptable middle-ground so that everyone feels as though a suitable agreement has been reached. The compromising approach can therefore be very effective in reaching long-term positive outcomes following negotiations. Do you know which style you use?
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