Six Steps to Negotiating a Better Deal…

Understand the other side.

To solve the other person's problem,  you need to gather as much information as possible about their situation. Specifically, you need to know:

• Any existing time, industry and/or financial pressures
• Their corporate goals and objectives
• Their specific goals for the negotiation
• Their options if they don't make the deal with you
• The personal goals of the negotiator
• Who makes the final decision on the deal

"Smart negotiators spend far more time on research and discovery than they do on the actual negotiations, the more information you have, the greater your ability to solve the other person's problem to your advantage."

It is  recommended finding out who you're negotiating with. "One of the first things in any business negotiation is to establish the honesty and ethics of the person sitting across from you," he explains. "A lot of people say they want a win-win outcome, but their negotiating style and strategy often prove otherwise."

1. Plan your approach. A planned approach starts with having a crystal-clear understanding of your own position. To clarify your position, it is recommended identifying three different deal scenarios:
• Best possible outcome
• Worst acceptable outcome
• Expected outcome

These outcomes establish the ballpark you will play in. Without them, you have no realistic starting point. In addition, say our experts, the best deal-makers always prepare two other key elements:

• Walk-away point. This sets an absolute limit on the least favorable outcome you will accept. Anything less and you walk away from the deal.
• BATNA. Your "best alternative to a negotiated agreement" identifies what will you do if you can't reach agreement on this deal.

As long as you have these two elements in place, you can't cut a bad deal.

Experts also recommend the use of role play as an additional planning element. The more you know about how the other side might respond during the negotiation, the greater your chances of creating the outcome you want.

Chris Wilkinson.                              

Certified Business Behaviour & Attitudes Analyst.               

Business Coach.

Tel: (905) 275-2907 (Mississauga).

E-mail: buspilot@bell.net

Sales Planning----  18 quick questions…..

How many did you score out of 90?

Under 70—perhaps you need a written sales plan

1  Our company has a documented selling plan for our sales staff.          

We do not have a selling plan. 1          

We have a plan in place, but it is not documented. 2          

We have a written sales plan, but it is not reviewed and updated. 3          

We have a sales plan in place but it is not always adhered to. 4           

We have a written selling plan that is updated and followed by our sales staff. 5          

     

2  Our company provides sales training programs (internal or external) for its sales staff.          

 We have no sales training program. 1           

We have a program in place, but not a written one.  2          

We have a written sales training program in place, but it is not reviewed and updated. 3          

We have a sales training program in place but it is not always adhered to. 4           

We have a written sales training program that is updated and followed. 5          

       

3  Our company has a prepared sales presentation for potential customers.          

We do not have a sales presentation. 1          

Each sales person has his or her own presentation. 2          

We have a general presentation, not a written one. 3          

We have a written sales presentation but no clear pattern. 4          

We have a written sales presentation. 5          

       

4  Our company has a written plan for increasing sales.          

We do not have a plan for increasing sales. 1          

We have a plan in place, but it is not documented. 2          

We have a written plan for increasing sales, but it is not reviewed and updated. 3           

We have a written plan for increasing sales in place, but it is not always adhered to. 4          

We have a written plan for increasing sales that is updated and followed by our sales staff. 5          

       

5  Our company has pinpointed weaknesses in its selling process.          

We have not identified the key problems or needs. 1          

Each sales person works on his/her own weaknesses individually. 2          

We know what the problems are, but they are not written down. 3           

We have the weaknesses written down but do not necessarily think of them in our sales process. 4          

We have identified our weaknesses and are building on our strengths. 5          

     

6  Our company has identified and measured key sales indicators.          

We have not identified key sales indicators. 1          

We know what they are, but they are not written down. 2          

We have identified key sales indicators but they are not necessarily followed in our sales process. 3           

We have identified key sales indicators, but they are not measurable. 4          

We have identified and measured key sales indicators that are used by all. 5          

      

7  Our company tracks and documents its selling costs.          

 We do not track selling costs. 1          

We know what our selling costs are, but we do not document them. 2          

We track some of our selling costs but we do not document all of them. 3          

We track most of our selling costs but we do not document all of them. 4          

We track all of our selling costs and document them. 5          

       

8  Our company has a sales strategy focused on its target market.          

We have no strategy. 1          

We have a strategy, but it is not written. 2          

We have a written strategy but it is not continuously reviewed. 3          

We have a written strategy but it is not always adhered to. 4          

We have a written strategy that is updated and followed. 5          

       

9  Our company has a sales pipeline program for previously contacted prospects.          

We do not follow up with previously contacted prospects. 1          

We follow up with prospects occasionally. 2          

Each sales person has their own system for following up with prospects. 3          

We have a system for following up with prospects, but it is used occasionally. 4          

We have a sales pipeline program used by all. 5          

10  Our company has a written referral system.          

We have no referral system. 1          

We get referrals, but only by an unfounded process. 2          

We ask for referrals, but do not have a written process for gaining them. 3          

We have a written process for referrals, but all do not use the system. 4          

We have a written referral system. 5          

  

      

11  Our company has a well-defined sales management process.          

We do not have a sales management process. 1          

We have a process, but it is not well defined. 2          

We have a written process, but it is not reviewed and updated. 3          

We have a written process, but it is not always adhered to. 4          

We have a well-defined sales management process followed by all. 5          

       

12  Our company effectively tracks sales activity from lead generation through closing.          

We have no sales tracking system. 1          

We don't have adequate information to develop a sales tracking system. 2          

We ask for sales activity, but informally. 3          

We have a tracking system, but all do not use it. 4          

Our sales tracking system is effective and considered essential to the success of our business. 5           

        

13  Our company has regularly upgraded the proficiency of its sales staff.          

No 0          

Yes 5          

      

14  Our company has measures of sales performance other than gross sales.          

No 0          

Yes 5           

 

15  Our company conducts periodic sales contests for its sales staff.          

No 0          

Yes 5          

       

16  Our company is maximizing repeat sales from existing customers.          

No 0          

Yes 5          

     

17  Our company rewards sales reps for new account sales higher than repeat orders.          

No 0          

Yes 5          

18  Our company collects customer emails addresses to facilitate dissemination of product info, announcements and special promotions.           

No 0          

Yes

Chris Wilkinson.                              

Certified Business Behaviour & Attitudes Analyst.               

Business Coach.

Tel: (905) 275-2907 (Mississauga).

E-mail: buspilot@bell.net

10 tips for effective (sales) voice-mail messages…….

Have you honed your skills at "elevator pitches" — that is, the quick sales pitches to influential executives or potential customers that could be pivotal to your business?

You want to interest someone in calling you back.

And that's why, as an entrepreneur maximizing  business resources, it behooves you to make the most of voice mails—both in those you leave with others and in your voice-mail greetings to incoming callers.

Here are 10 strategies to make your voice mails more effective and, ultimately, more beneficial to your business.

First, tips on what to do when you're the one leaving the message.

1. Get to the purpose of your call. In this lightning-paced day and age, businesspeople can't afford a lot of time for ambling chitchat. Instead, when leaving a voice mail, make it plain upfront why you're calling. Is it a call to action, to give an update, or are you just returning their call? Put the call in context so they know why they should return your call.

2. Put contact information up front as well. It's happened to every one of us—you retrieve a voice mail only to have the message cut off before it's finished. That happens. But minimize the damage by pushing critical information to the top.  Always say, 'This is Jim Lester from the Cookie Factory' and give them your number.  Then  say, 'Please call me back,' and give them a deadline. That way, if the call drops, the most important information is conveyed."

3. Don't repeat what the system already knows. Sophisticated voice-mail systems will record the date and time of incoming phone calls. Don't waste time by repeating those in your message. Also, don't say your phone number more than once. If the recipient misses it, that's why rewind buttons were invented.

4. Get to know the person who's getting the message. If you know the person gets a ton of voice mails every day, don't bog down the system—and her patience — by leaving too many voice mails when a few better crafted ones will do the job just as well. If it's your boss, just ask for guidance on how they like their messages.

5. Avoid trying to leave a message about numerous topics. Trying to cover a variety of complicated issues in one voice mail is nigh impossible. Instead, break them up into individual voice mails or, even better, opt for e-mail to do as thorough a job as possible of covering every topic of importance.

Now then, here are tips for your recorded voice-mail greetings.

A. Consider changing your greeting every day. This is particularly important if you keep in touch with people who need to know when you're available and when you're not. Few things create a more negative impression than an out-of-date greeting.

B. Offer specifics. A caller who hears that you're out of the office or away from your desk was likely able to figure that out on their own—after all, you're not answering the phone, are you? Instead, offer specific, helpful information, such as dates and times when you will be back or when you may be reached if the caller wants to try to call you again.

C. Encourage detailed messages. Ever get a voice mail saying that someone has important new information, and to get back with them ASAP? That isn't overly detailed—and may not be overly helpful to you, either. In your outgoing message, urge callers to leave as many specifics as they think are necessary. That way, you can get back to them with all the needed information without playing phone tag and wasting a lot of their time and yours.

D. Use humor and offbeat material with caution. As a rule, it's nice to make your outgoing message unique or memorable in its own way. But don't go overboard with risqué jokes or other material that may cross the line in some manner. While some callers may find that entertaining and clever, just as many may be put off by something they feel is in bad taste.

E. Always review your outgoing message! One common mistake that can lead to ineffective outgoing messages is a failure to actually listen to what you've just recorded. Every time you change your message, take a minute or two to critique it. Do you sound enthusiastic or bored? Do you include all the information that you need to and in the most effective order possible? If you're not satisfied, don't be gun-shy about re-recording your message. If need be, record it several times until what you have on tape is the sort of message you want to convey to whoever may be calling. That sort of attention to detail can make a big difference, particularly with first-time callers.

Chris Wilkinson.                              

Certified Business Behaviour & Attitudes Analyst.               

Business Coach.

Tel: (905) 275-2907 (Mississauga).

E-mail: buspilot@bell.net

 The Exit Interview....

              The exit interview is an interview given to a departing employee. This is usually done for employees that voluntarily quit instead of those that are fired or laid off.
Exit interviews offer a fleeting opportunity to find out information that otherwise might be more difficult or impossible to obtain.
The following are some thoughts on the exit interview:

1. Interviews can be conducted orally or written. Much preferred is the oral interview.
2. Think carefully about the information you would like to get before the interview. This greatly increases the odds of a successful interview.
3. Save the hardest questions for the latter part of the interview. Work up to the tough stuff!
4. A good question to break the ice is ‘would you like for us to be a reference/recommendation for you’? Do not make this offer if you would not recommend the employee!
5. Be prepared for some bombshells. Expect the unexpected – if it ever is to happen it will happen in an exit interview.
6. Carefully select the interviewer. Look for someone that listens well and is open-minded. It serves no purpose for the interviewer to get into an argument with the departing employee.
7. Throughout the interview stay focused on the employee!
8. Look for open-ended questions that allow for plenty of expression. An example of this might be "how did you feel you were managed during your employment with us?" or "how do you feel the company is run?"
9. Other excellent questions are ‘under what conditions would you have stayed?’ and ‘if you had had a magic wand, what would you have changed?’
10. At some point in the interview ask ‘why are you leaving?’ if you do not already know.
11. Good general questions are ‘what did you like most (least) about your position?’
12. Try to find out if there were things the departing employee would suggest to improve conditions, production or morale.
13. Try to get a good feel for how they viewed their compensation and benefits package.
14. Leave room at the end of the interview for general comments.
15. Take notes of the high points. Get the general idea – it is not essential to get exact quotes. It is more important to listen than write.
16. Immediately after the interview determine if you would rehire the employee. Assume they will reapply.
17. Make use of the information gathered. If you do not use this new information then why do an exit interview?

The exit interview provides a good mechanism to take a hard look at how your company is perceived. Since the employee is leaving, they will often be more open and frank in their discussions about the company.
Those companies that do not conduct exit interviews miss out on a great opportunity!

Chris Wilkinson.                              

Certified Business Behaviour & Attitudes Analyst.               

Business Coach.

Tel: (905) 275-2907 (Mississauga).

E-mail: buspilot@bell.net