Archive for Negotiation

How do you have better conversations with people all over the world?

Communication is key to success. The world is more connected than ever before and sending an email is done in less than a minute. Even though communication has never been so instantaneous, you may still face some communication challenges.

By hiring a Comvort agency, you benefit from local teams positioned globally that have a wealth of experience communicating and dealing with your market.

Follow a few of Comvorts handy tips to overcome your specific cultural communication barriers:

The Swiss pursue non-aggressive, minimal bargaining methods, using their standards of quality as negation tools. This secures them good deals while maintaining a friendly business relationship.

In Hungary they hinge around unpredictable styles veering between co-operation and raising problems, before everyone talks at once to secure agreement on several points.

In the Netherlands, The Dutch corporate culture proceeds at an analytical pace without overt haggling or rushing, through which they lay solid factual foundations before establishing business consensus.

The Chinese use meetings as information gathering sessions, though final decisions are made elsewhere. They often play the ‘huge market’ card and fight for win-win solutions.

The Hong Kong business culture values time as highly as results and so eloquence is supported by quick concessions to close a deal faster.

omvort - Worldwide-international-communication

Australians prefer conducting business in a frank conversational style, to achieve friendly agreements reached through creative solutions and mutual comprise.

In Israel they are often highly logical. In business, they prefer direct approaches with clearly outlined proposals, before finalising deals supported by pragmatic conclusions.

In the UK they prefer to build up to professional matters, first establishing a rapport after and after that tend to stall while negotiating.

Professional Guest post by Agency OWB-UK.
Comvort Member since 2009.

*(Source: http://blog.hubspot.com/marketing/global-communication-tips)

Business books for 2016 – take your game to the next level

Thousands of business books are published every year. Many of them are a good read, but only some are really worth your while. Unfortunately, the daily entrepreneur is an extremely busy individual. Among all those employees and daily business responsibilities, finding time to read is nearly impossible. The key to success in today’s cut-throat business environment is all about motivation. There’s time for everything; all you need to do is stay organized. The following business books will offer you the drive you need to make a change and really take your company to new heights.

Lean Business Planning, by Tim Berry

Tim Berry is the founder of bplans.com and Palo Alto Software. He’s an outstanding entrepreneur and a guru of everything business related. In his book, Berry tries to make its readers understand that a business plan is NOT the key to success. It’s all about the planning itself and about the journey. Rather than focus all your attention on a single master plan for your start-up, consider a manageable plan that’s adaptable and easy to understand by your team.

Elon

Elon Musk, by Ashlee Vance

This book about the mind of a pioneer named Elon Musk, the founder of the famous SpaceX, PayPal and Tesla Motors. The author lets readers enter his genius mind, get inspired from his innovative ideas, and find a way to take their businesses to the next level too. In Elon Musk you’ll read about what it really takes for someone to become rich, and how far is one willing to go to make a change and have an impact on the future.

Mindsharing, by Lior Zoref

Mindsharing is an interesting business book about collective intelligence. It explores the idea of brainstorming and teamwork, and it emphasizes on the importance of working with a crowd to yield positive results. Why rely solely on your abilities when you can put together more than one brilliant brain to attain great success in business? According to the author, there’s an astounding amount of power in mind sharing. It can help you progress on both a personal and professional level; that’s because you’re constantly learning new things.

Work Rules, by Laszlo Bock

Laszlo Bock is the head of People Operations at Google. In this book, readers are taught about the great importance of hiring the best people for your business. Work Rules relies on data and research on the matter, and it attempts to prove that open-space work environments and happy employees are the key to a better company culture. If you think your employees need some motivation, or that you need some advice on how to be a better leader for your people, then you should definitely make time to check it out.

Work Rules Comvort

The Digital Marketer, by Larry Weber

Is your business operating in the advertising and marketing domain? Are you running out of ideas when it comes to developing new campaigns and retaining new customers? Well then you’re in luck. The Digital Marketer is a great book for business. It reveals some amazing tips about marketing strategies, and it offers a clear perspective of today’s most effective trends. Stop focusing on your brand and start centering your attention more on your customers. Find a way to pique their attention and they’ll want to know more your business too.

Boss Life, by Paul Downs

There are thousands of books out there “teaching” people how to make millions. Entrepreneurship is more than just about making money, living a glamorous life and giving commands. In Boss Life readers will learn that running a business is tough; and that the only way to success is honesty. The secret to having an efficient company is directly linked to an owner’s employees. The closer you are to your people, the better chances you have to thrive. Show them that you’re humane and they won’t hesitate to commit to you and your company.

Comvort reading reccomendations

Some books are life-changing, particularly those in the business domain. That’s because the best ones can really motivate us. They can persuade us to do more for yourselves and for your companies without useless compromises or bossy attitudes. The more open minded you are, the better chances you have to be heard, supported and listened to. Teamwork makes companies thrive, and thriving companies make good money. It’s a win-win!

Professional Guest post by Comvort collaborator Jason Phillips (LoveReading.co.uk!)

5 Tips to Get Your Salary Back up to Market Value

It is a sad fact of life than many employers will not offer a salary increase unless you ask for it. Larger firms may offer regular, inflationary increases but this will not be the significant gesture that your hard work deserves. Provided you have been consistently working hard and have been with the company for a while then the following tips should help you achieve the raise you deserve.

Negotiating a pay rise Comvort Blog

  1. Know the right time to ask for a raise

Once you have worked at a company for a while you will come to understand your boss’s moods and when might be the best time to approach regarding this sensitive subject. Provided you have not recently messed up and the company is doing well you should request a meeting with your boss to discuss your current work and pay. Never spring this subject on them.

If you’re planning to negotiate, make sure to do it properly. Assess your options and don’t go overboard; negotiate for what’s rightfully yours. For example, if you’re been with the company for 3 years, then you are entitled to a raise. Start the negotiation with an emphasis on the main reasons you deserve to receive more money. Provided that have the right arguments you have the best chances of getting that 3% raise. Show them that you’re valuable and they won’t risk losing you.

  1. Focus on your industry

It is essential to know how much other people within your industry are being paid. It is not likely that your boss will dramatically increase your salary if you are already being paid the going rate for your position. Your HR department may be able to assist with this or one of the many websites which offer pay comparisons.

Knowing how much similar positions are worth across the industry is a good starting point. From there you need to look at what you do which is above and beyond the normal call of duty. These factors should be listed so that you can refer to them in a meeting. If you have been with the company for a long time or it has been a long time since you had a raise it is essential to make a note of this information and use it in your meeting. Keep copies of your research to support where you are getting your figures from. It is also imperative to collect information together regarding specific projects and have this to hand for your meeting.

  1. Never threaten and always have a back-up

The worst thing you can do when asking for a raise is threaten to leave. This looks unprofessional and may also leave you in a position. If you really need to use this approach you should ensure you have a new job offer lined up first. It is essential to consider your boss’s response and reasoning and then to prepare a back-up plan to fight this contingency. One scenario may simply involve your boss saying no to a raise. It is perfectly acceptable to ask why this is and when a more appropriate time would be. Whatever your boss’s response you will be able to take a note of his words and document proof in order to call a new meeting in another two or three months.

  1. Stick to the truth

It is imperative to have solid facts and to tell the truth when negotiating a raise. If you do not you will be caught out and the raise refused or your boss will find out later. Either way this will not make for a comfortable working relationship.

Equally if you feel you are worth an extra $5,000 but are not sure the company will go that high you still need to ask and back up your request with evidence. If you as for less you may get it but you will never know if you could have got what you are worth and you will remain with the feeling of being underpaid.

No guns Comvort Blog

  1. Value and emotional connection

It can be very beneficial when requesting a raise to point out to your boss the value which you bring to the company. Your value will be in your knowledge of the work processes and can even be a reflection of the cost of extensively training a replacement. Facts are essential to back up any claim. You need your boss to have empathy for your request and this means they should relate to you. Any request meeting should start with how grateful you are for the employment and what the company has done for you so far. It can also be useful to hint at your excitement regarding the future of the company and you within that future.

Professional Guest post by Jason Phillips and TheGapPartnership.com!

Believing these 9 myths about negotiation prevents you from growing

People who are not used to negotiations are afraid to negotiate because they’re influenced by several common myths of the trade. These are ingrained and widespread, yet this doesn’t mean they’re true. Believing unfounded allegations and claims with no meaning can stop you from growing in business. Nobody knows everything at the bargaining table, and this is a fact. But you must learn to mold your demands, expectations, and needs in order to close a successful deal. Here are 9 myths you might want to avoid though.

1. Negotiation is about winning or losing

This is probably the most common myth about negotiations. A lot of people wrongfully assume that bargaining for something is about winning or losing, and that there’s no other alternative. Well, there is and it is called a win-win solution. Successful deals can happen even when all the parties involved compromise to reach an agreement.

Tips 9 Myths

2. Negotiation is a natural-born skill

False! It can’t be a natural-born skill. Negotiation is a skill that has to be learned in order to be mastered. The more you bargain with people and close deals (good ones and bad ones) the higher chances to have to gain experience and become a professional. A lot of people wrongfully presume that excellent negotiators are born and not made. They’re wrong! One needs years and years of practice before they can master this art.

3. Negotiators must be aggressive to win

Another myth that has been debunked over and over again; aggressiveness can help and it is often used by business people to take charge and intimidate opponents, but this is not the best approach to use when you want to win in negotiation. An assertive attitude can backfire. It could have many negative effects, thus convincing opponents to disagree and even walk away from a negotiation.

4. Lying can help you get out of a challenging situation

Believe it or not, a lot of people lie in business. This practice is used when an opponent has questions for you that you can’t answer. Making stuff up and bragging with unreal achievements has negative effects in the long term. Telling lies, or resorting to some other unethical negotiation strategies, will eventually make an opponent lose trust. Why should you put your credibility and reputation in jeopardy when you can just be honest?

5. Being nice means you are naïve

There’s no such thing as naiveté in business. And yet there are people who believe that nice guys end up last. That’s not the case. A kind, optimistic and positive attitude at the negotiation table doesn’t exude innocence; it says a lot about a person’s character. He/she may be nice on the outside, but likability can’t be translated into stupidity. Let’s not judge people after first appearances!

6. Negotiation is about winning more money

No, it’s not! Unfortunately, many still believe that walking to a business negotiation is all about getting more money than your opponent. Negotiating also means giving non-financial things up to get non-financial incentives in return; certain companies would rather end a deal with a mutual collaboration, a long-term partnership rather than receive more money, walk away and never speak to that company again.

Tips 9 Myths negotiation

7. Win-win deals are for losers

Associating win-win deals with loss is a mistake. In fact, a mutual agreement can bring a lot more benefits than a win-lose. Some companies want to negotiate in the hopes of building connections; In this case win-win deals means that you compromised but have invested in a long-term cooperation that could help you become more famous and improve bottom line.

8. Negotiation has clear rules one must follow

There’s no exact recipe for success in business negotiations. Yes, there are strategies one may choose to use, but most of the time people go with their gut. They act on an instinct, although they do with poise, determination and professionalism. It is important to enter meetings prepared; but success is not guaranteed of you adhere to the rules without adapting to a given scenario.

9. Negotiating is simple/difficult

Some people dread negotiations, others love them. In either case, you are never advised to take things for granted. A negotiation may seem easy/difficult on the outside, but prior to jumping in make sure you are prepared with facts. That’s all you need to succeed. Making assumptions can have a lot of negative effects. A certain deal may appear easy to close; be careful and whatever you do, don’t lose your temper.

 

Professional post By Jason Phillips and TheGapPartnership.com!

Wrong words that can ruin your whole negotiation process

Have you ever been in the middle of a negotiation which appears to be going well, only to find the whole procedure suddenly stalls and spins out of control? Often, the answer to this is simpler than you think. There are certain keywords which invoke emotions, often changing a person’s mindset. The following words are all trigger words, and some might actually ruin your negotiation if you’re not being careful.

uring negotiations

Need

“Need” is a fairly unassuming word used regularly in our everyday conversations. The problem in a negotiation is that it starts a thinking process in the other party. “Need” might have been used to show that this is a priority. It brings an image of essential to survive. This can lead to the following question – what if you do not have or get it, does this mean you cannot survive. Ultimately, if you cannot survive you are dead. That certainly bits a new spin on the debate! Suddenly, your negotiation may become stressful with a serious emotional element, and it is no longer possible to make clear business decisions.

“Understand”

The best intentions can start with wanting the other party to “understand” what you are suggesting and how it can improve life for everyone. The problem arises as you spend a lengthy amount of time going through the concepts and ideas, hoping they will understand. In a very good meeting, opponents and collaborators may completely grasp and support your ideas. In an average meeting they might end up more confused than they were in the beginning.

Instead of being able to make a decision they will need to research or get further advice. This means no decision is made and the meeting was a waste of time. If the meeting has gone really badly, the other party will now claim to understand and may do so. In the process, they have thought of ten or twenty objections and issues with your suggestion. Suddenly, you are much worse off than before the meeting.

The issue here is that providing too much information will inevitably lead to objections, these can create a stalemate situation. The more you try to get them to understand the more the natural human reaction of ‘digging your feet in’ happens. A good negotiator will paint a vision of the future and appeal to fruitful emotions to make a decision.

wrong words during a negotiation
“No”

Believe it or not, “no” is not a word you want to say over and over again in a negotiation. “No, we don’t need this”, “No, this is non-negotiable”, “Our final answer is no”. By stressing out on the importance of this word, you create tension. A negative vibe will materialize, and the whole meeting can end badly. It’s best to avoid the word, or at least work around it. “We’re not declining your offer; we’re just taking some time to reconsider it”. Maintain a professional attitude, because you have better chances of creating a mutual agreement.

Negotiation is a skill

You will need to learn to create a vision of the future in the other party, not with facts and figures but with emotion. The emphasis needs to be on positive words, allowing them to see the solution to their problem. Avoid muddling them with words, tactics and explanations. Focusing on the problem will never assist in resolving it. You must ensure they can see your vision for fixing the issues, and give them a clear course of action to take.

All decisions are fundamentally made by ‘seeing’. To make a decision we need to be able to mentally see the solution. It is an everyday occurrence. In our daily lives, we frequently see the answer to a problem; we have a moment of clarity and can see the right path to take. They are all images in our head. To successfully close a business negotiation there should be plenty of references to seeing things; this creates the link to remind the mind that it is capable if envisioning the solution. With the other party now looking in the same direction as you, focused on a fantastic vision of the future you will have completed your job. The details are not important; the results will speak for themselves.

Professional post by Jason Phillips and TheGapPartnership.com!