How To Break A Deadlock

All too often in a negotiation no matter what negotiation styles or negotiating techniques you are using, when we encounter a deadlock we may want to just give up. After all, a deadlock sure looks like something that is going to prevent both sides from ever being able to successfully reach a deal. However, I've got some good news for you. It turns out that every deadlock can be broken; you just need to know how to go about doing it...

Go Away And Come Back

Deadlocks happen. It's how you deal with them that really matters. When you are faced with a deadlock, one of the easiest things to do is to sidestep the issue. Agree with the other side of the table that the issue that is causing the deadlock is a big issue. Then suggest that both of you table that issue and instead focus on other issues.

By doing this you can prevent the negotiations from grinding to a halt. Instead, you'll be able to continue to make progress on the other issues. Generally the other side will be willing to go along with this strategy.

The goal here is to eventually come back to the issue that was causing the deadlock. The hope is that because you've been able to make progress on the other issues and because some time has passed, what was a big deal is no longer such a big deal. With a little luck, the hostility surrounding this deadlock causing issue will have evaporated.

Use Concessions

A deadlock will cause a negotiation to grind to a halt. What you need to do in order to break the deadlock is to find a way to get the negotiations moving once again.

A great way to make this happen is to make some small concessions to the other side. Give in on some issues that you really don't care about. Once you've done this, ask them to make some concessions to you.

This back and forth of concessions is how you can get things rolling once again. With just a bit of momentum, you may be able to get up enough speed to be able to find your way around the issue that caused the deadlock.

Go "Off The Record"

A deadlock happens when you and the other side of the table can't come to an agreement on an issue. A lot of what has caused the deadlock to occur has to do with the personalities that are involved.

One way to break this deadlock is for you to go "off the record" and reach out to people who have not been involved in the negotiations. Since they were not involved in the discussions that led up to the deadlock, they may be able to show you a way around the deadlock.

What All Of This Means For You

To any negotiator, a deadlock can be a scary thing. It sure looks like the negotiations are going to end without you being able to reach a deal with the other side of the table. However, it turns out that every deadlock can be broken.

In order to break a deadlock, a good first step is to try to sidestep the deadlock causing issue. Go on and deal with other issues and then come back to deal with the "big" issue. You can also make a series of small concessions to the other side and get them to do the same. Once things have started to move again, a deal may now be in sight. Finally, you can always go "off the record" and appeal for help from people at higher levels in both organizations.

Don't let a deadlock halt your next principled negotiation. Instead, by taking the time to understand the people who are involved in the negotiations you will be able to find a way to break the deadlock. Get good at doing this and every negotiation that you are involved in will be able to end in you reaching a deal with the other side.

Source: http://www.blueelephantconsulting.com/

8 Ways to Create Real Customer Loyalty

1. Set up ways to communicate with your customers

Frequent communication with your customers keeps you fresh in their minds and lets you pass along important information.

Take the time to set up a database with contact information such as email addresses, mailing addresses, or phone numbers. Then you can send friendly reminders, birthday greetings, or a monthly newsletter.

Social media is another great way to communicate with your customers on an almost daily basis. Keep in mind that this works better if you limit how many of your communications are actually advertisements.

Don’t forget to throw in messages that are either fun reminders or useful information.
2. Provide extra perks for your most loyal customers

One of the best—and perhaps one of the cheapest—ways to reward customer loyalty is to give extra perks to your most dependable customers. Whether it’s the ability to skip the line, special meet-and-greets, or immediate seating, customers love getting a little something extra.

By setting up a reward system for the most loyal, you not only encourage them to stick around, you also give an incentive for other customers to strive to reach that status.
3. Consider different payment plans

There are some businesses out there that are very seasonal and run into cash flow issues during certain times of the year.

For instance, a wedding shop usually receives most of their sales during the summer months when weddings are in full swing, but during the winter they struggle. One shop decided to offer a payment plan through which customers could start shopping in the winter, and pay a little throughout the months leading up to the wedding, rather than paying all at once.

This plan worked because it helped customers by giving them manageable monthly payments, and it helped the company by bringing in cash during an otherwise slow time of year. In fact, customers were so happy that they often referred the shop to others, and the business saw a nearly 400 percent increase in total sales.
4. Provide great customer service

While this seems like a given, it’s one tip that bears repeating because it’s so important. One survey showed that in 2013, 51 percent of customers ended their relationship with a business because they were unhappy with the service they were receiving.

Customers remember when they’re treated well, and they remember when they’re treated poorly. In either case, they usually tell their friends and family, and that can either mean more business for you or lost business opportunities.
5. Don’t rely too much on technology

Even in our technologically advanced society filled with text messages and emails, we still want the ability to interact with other human beings. Everyone can relate to the frustration of feeling stuck in an endless loop of automated prompts until we bang on the phone keys in hopes of reaching a real human. This is why it’s important to keep in mind that while automated phone systems may save money, highly trained customer service representatives build loyalty.
6. Offer a head start

If you want to start a customer loyalty program like coffee shops use, whereby customers buy a certain number of drinks to earn a free one, consider giving them a head start. This can be as simple as giving them the first two punches on the coffee card for free. If you give your customers a head start on the program, they’re more likely to stick around and finish it.
7. Don’t forget to smile

This is another item that seems obvious, but it’s important enough to keep being reminded of.

A study in the United Kingdom recorded the expressions used to greet customers as they entered a store, and then cross-checked with how much they spent in the store.

The study showed that shoppers who were greeted with a welcome and a smile spent up to 67 percent more than shoppers who were not greeted this way.

While it seems like a small detail, a friendly greeting obviously has important consequences.
8. Give customers a reason to be loyal

Many people believe that Apple has some of the most loyal fans out there. Customers go to great lengths to prove just how much they love the company, with bumper stickers, tattoos, and vehement arguments in favor of all the products.

Source: http://bplans.com

To Do or Not to Do: Tools for Succeeding in Business

It was Socrates who said, "Unless you do, you don't know."

This is particularly applicable for individuals looking to start, grow and succeed in their own business. "Doing" makes the intangible tangible. Real world application of entrepreneurial theory and concepts reinforce learning. It gives business development concepts a meaningful context. Most importantly, meaning is specific and relevant to individual objectives and goals.

How to Facilitate Doing |

Doing is best facilitated through a series of exercises that are engaging and thought provoking. From this process and through creative expression, ideas are documented and tested and outcomes are measured over time. The value of testing and measuring outcomes is not to grade, score or judge, but to acknowledge, celebrate and learn from tangible progress along the way.

Where to Begin |

One of the best places to begin doing when pursuing self-employment is to learn more about what's involved in running a business in relationship to one's own experiences and personality. Doing the following exercises makes this process tangible and measurable...

    10 Great Reasons to be in Business for Yourself
    10 Great Reasons Not to be in Business for Yourself
    Common Entrepreneurial Traits
    Common Entrepreneurial Mistakes
    Entrepreneurial Aptitude Index

What to do About It |

With an increased understanding of what it takes to succeed in business, the next step is to facilitate ideas about what type of business to create that would leverage personal experience and personality. Doing this unfolds easily through the following steps...

    What do I enjoy doing?
    What skills have I developed over time?
    How might my interests and skills combine in business?
    How would this business be structured?
    Who would buy from me and why?
    How would I reach them?
    What business idea best fits my objectives?

Celebrating Progress |

Simply doing the above steps moves the aspiring entrepreneur from the unknown into the familiar. Because if facilitates doing in a rational and logical sequence that leverages individual experience, knowledge and skills, it also helps to build confidence. In addition and because there is a tangible paper trail of rich ideas and an inventory of strengths and interests, doing in this way provides rich content to refer to and build upon as the entrepreneurial venture unfolds!

Owning your own business can be tremendously rewarding! Particularly when it fits who you are with what you do well.

Source: http://www.buzgate.org

How Entrepreneurs Can Make Luck Work

Every entrepreneur has heard that success requires the right combination of skill, experience, timing, and luck. But that last, intangible piece of the formula has always been tricky. “He just had a run of bad luck” explains away an excusable business failure, while the opposite expression serves as backhanded compliment from a jealous competitor.

This concept of luck is outdated, however, says David McRaney, author of the You Are Not So Smart books and podcast series. “We have predefined luck in our culture as some sort of fairy dust: a magical, ethereal, nonrational thing. But that is a prescientific understanding of luck that no longer applies,” he says.

Over the past decade, some observers have begun to understand luck not as a random, uncontrollable phenomenon but more as a behavior that happy, successful people employ, whether consciously or subconsciously.

The update comes courtesy of British psychologist Richard Wiseman, who studies lucky and unlucky people as part of his research as a professor of the public understanding of psychology at the University of Hertfordshire. His goal is to isolate the traits that lucky people possess and demystify them so that everyone can emulate them.

So what exactly is luck—and how does it apply to entrepreneurs?

People who consider themselves lucky have a way of dealing with chaos and complexity that unlucky people do not, Wiseman says. And chaos and complexity are two things in abundance in any startup business.

Lucky people, he says, are particularly good at noticing and capitalizing on opportunities as they arise. They act on gut feelings and hunches, but only after honing their intuition.

Unlucky sorts, by contrast, tend to be narrowly focused and goal-oriented. If there are new opportunities that arise while they’re pursuing something else, they’re more likely to ignore them than to jump on them.

This ability to change gears, revamp business plans, and ditch ideas that aren’t working out is something that successful chief executive officers have described to me repeatedly over the years. Nearly every mature business owner has a story or two about how an original idea had to be revised or scrapped along the road to finding one that works. But rather than despairing or freezing when one model is proven wrong, these individuals quickly recalibrate and redirect their efforts.

Another trait of the lucky, persistence, has long been associated with entrepreneurial success. “There are people who do things over and over again, and even if they fail 200 times, they keep going forward,” McRaney says. The ability to scramble over a heap of past failures may be the biggest luck factor of all.

Source: http://www.businessweek.com

Vacations are a MUST for the Self Employed

I've just returned from a 20-day vacation to Yosemite, Sequoia and Kings Canyon National Parks.

It's impossible to describe the sheer terror of finally deciding to take more than a week's vacation. Would my business crumble? Would I miss logging on each morning to get my email? Would my clients remember me when I returned?? Would I miss a new business opportunity while I was gone?

It all started rather simply: three different opportunities for speaking engagements came up in California, and so close to one another that it seemed silly NOT to go to California and do presentations. My husband casually suggested, "Why don't we both go, then take some time for a vacation while we're out there?" It seemed reasonable enough.

In the past, I'd take a week-long vacation a few times a year, and my business had survived. But 20 days away from my office? It took a bit of getting used to.

But let me tell you a secret: starting the very first day, I never once had a interest in finding an internet café and checking my email. Not once did I feel like I had to pick up phone messages and return phone calls. It was shocking that I could so easily leave it all behind. It was heaven!

Vacations are mandatory for self-employed people. When you do your annual budgeting for your business, schedule in enough revenue so that you can afford the cost of the vacations as well as the cost of not earning money for the weeks you're away.

Why? Because we all need a break from our businesses, from the high-energy involvement, from the stress, from the stuck places. You need time to pay attention to yourself, to those you love, and to do the other things you enjoy. You need a place to clear your head and step away from the everyday busy-ness of your business.

After 20 days away, I'm refreshed. While hiking in Yosemite, I made some major strategy decisions about the direction of my business for the next five years, without even really thinking about my business consciously. I allowed my sub-conscious to process all the questions and decisions I had to make about my business, then allowed the answers to slowly bubble to the surface while I walked, sat, talked, and took photos of lovely nature scenes.

Now that I’m back in my office, I feel a rush of energy, and a great clarity of thinking. I'm also keeping in touch with the slow, calm, peaceful feelings I felt each day I was away, and am bringing them back into my daily business life.

So, when is your next vacation??

Source: http://www.passionforbusiness.com

How to Find the Right Business Partner for Success

Because of the expenses, time, and effort that come along with single-handedly opening a company, it is extremely beneficial to seek out a business partner who can help shoulder at least half of the weight. Seeking out a business partner does not mean you are not capable enough to open a business on your own; instead, it simply means that you are looking for someone to complement you and your idea in order to help it grow into a viable business.

It’s often said that two heads are better than one, and in the case of business, having a second mind to bounce ideas of off, to split the work with, and to network with will be priceless. Some of the most successful companies and brands around gained success because of the partnership it was founded on. But, just because you have two people leading the company does not mean automatic success. Just like solo business ventures, duo ventures fail. However, by narrowing down what you need in a business partner, you can ultimately find both business and partner success.

1. Resume

First things first, when it comes to finding the right partner for the job, take a look at their resume. Even if it isn’t a physical resume, think about their background. What is their specialty? What past business experience have they had? Have they been recommended? Have they burned any bridges?

In fact, it would be a wise move to perform a background check on them. As he or she could potentially be your partner in business, you do not want to be surprised by any illegal dealings or shady business deals they might have had in the past. If they have done business deals that were not exactly kosher, there is a good chance they might do the same with your business.

2. Location

When it comes to starting and growing a company, it is tremendously helpful to have a partner in the same location as you and the company. While it is theoretically possible to start a business with a partner who lives in other state or city, business meetings have to be done by video conferencing, emails, or business trips—all of which eat up valuable time, especially when every moment is precious to your company’s success. Being in the same city allows you both to work alongside each other and grow the business.

3. Vision

For a successful partnership it is crucial you both share the same values and goals for the business. Many business failures come from partners who had separate visions for the company, and spread the business too thin to survive. It is imperative to find someone who is as passionate as you are behind the idea, and wants to see it grow as much as you do.

4. Motivation

Starting a business is not an easy venture. It takes dedication, creativity, and most of all, motivation. Both of you need to have the ability to lift each other’s spirits when one of you is feeling overwhelmed or uninspired, because it will happen. There will be times when seemingly open doors will shut unexpectedly. Times when funding you thought was a for sure thing ends up disappearing. In these times of business crises it is invaluable to have a partner who can propel the business forward, even if it’s just in team morale. When your partner is at his or her wit’s end and vice versa, having a partner to pick up the slack will help to keep the business alive.

5. Balance

Partners desperately need to complement each other. In a sense, your strengths and weaknesses should be reversed (to a degree) in your business partner. While there will be characteristics you both share, it is important to find a partner who is strong in the areas you aren’t, and vice versa. Your best chance at success is to find a business partner who can both supplement and complement you.

Finding a business partner will take due diligence and time, but making the right choice instead of settling can take your business to levels you never even thought of.

Source: http://experts.allbusiness.com

How Young Entrepreneurs Are Using Personal Branding Coaches

Whether you’re launching a business or searching for a job, personal branding plays an in increasing role in success, especially on the Internet. It’s no longer an option on whether or not you have a personal brand; according to AVG Technologies, even toddlers now have a digital footprint.

To be successful online and in networking, you must take control of your personal brand, directing it to convey the messaging you desire. That’s where personal branding coaches come in, and young trendsetting entrepreneurs are using them more and more.

Though anyone can create social media profiles, blogs, and websites, personal branding is still a very technical marketing skill. It’s easy to get things very wrong, and it can sometimes be impossible to recover from a simple faux pas. A mistimed status, information posted on the wrong account, or a simple hashtag mistake can lead to disastrous backlash on the Internet.

In 2012, the Kmart Twitter account sent out thoughts and prayers regarding the Newton, CT school shooting. Unfortunately, someone with extra thumbs or an inappropriate marketing sense tagged the post with #Fab15Toys, a tag meant to market the retailer’s holiday toy sale. The Internet was understandably put off by the message, garnering several weeks of negative press for the retailer.

It’s easy to make simple branding mistakes that cause big waves in your network, and the possible mistakes aren’t even limited to social media posts. How you dress, what you say, where you go, who you associate with – the list is endless when it comes to opportunities to derail your personal marketing. Although a personal branding coach won’t follow you around every minute to ensure you don’t make mistakes, he or she will provide training and mentorship in marketing premises that can help you avoid disastrous branding faux pas.

Google branding or online marketing, and you’ll get millions of results. The amount of information regarding personal marketing is astounding, but much of it is incorrect, outdated, or not relevant to your unique situation. A coach helps you wade through the misconceptions of personal branding and identify information and tactics that are relevant to your goals.

Marketing is an ongoing endeavor, but many people lose interest or give up before reaping the rewards of strong personal branding. Building a personal brand takes discipline and an organized approach; maintaining that brand takes even more discipline.

Sometimes, a personal branding coach simply provides an unbiased second opinion. What sounds like a fantastic idea to you may be a terrible idea in practice, but your loved ones and friends may be too close to the situation to see that. Vice versa, what may be a good, but risky, idea could seem frightening to those close to you, who may not want to encourage you in something that isn’t a sure thing. A personal branding coach is trained to review the situation without bias, so personal feelings of protection or worry about you don’t impact his or her ability to offer advice about an idea.

Source: http://allbusiness.com