The Ludicrous Factor

Who doesn’t wish to go back in time and tell their younger self all the things we have learned along the way of life that we WISHED we had known oh-so long ago? I recall one of my first sales gigs was a vacuum cleaner salesman for Kirby Vacuum. Door-to-door no less. I rode around all day with my demo-vac in a van full of people trained less than the first-timer in a hopeless MLM. I recall mostly my poor attitude, my lack of willingness to get rich off of the comical selling of vacuum cleaners in upper middle class neighborhoods full of vacuum cleaners. The first day of that sales gig would be “when” I’d go back and whisper whatever my resistant younger self could hear.

What would you tell your younger self and “when” would you go back? I would give my younger self a few tips. The first tip I would give is that Anything you are willing to offer someone else you must first offer it to yourself. In my many sales management tours I always talked to the sales force as if that one thing I had to say in the moment was the only thing they would ever remember of me or my knowledge. What I told them, I would of course go back and tell myself: A client can have anything they want (no matter what) as long as they are willing to pay for it. If I have to offer this to myself first before I can offer it to the client - what does that mean? It means in the world of Negotiations that the only thing that limits my deal-making is the edges of my absurdity.

It’s absurd enough to get in a van full of sales-pretenders, each armed with a vacuum cleaner. It’s more absurd to walk through a neighborhood you have never been to before and stroll around in the hot sun with your vacuum cleaner door-to-door with the hopes of selling those 5 vacuum cleaners you have to sell before they will start paying you. It’s absolutely absurd that some stranger would let you in their house, vacuum the underside of their bed and then write a check for 500 percent more than the vacuum cleaner costs you.

And of course - selling vacuum cleaners is not nearly as absurd as I wish to stretch my sales force, your sales force, myself or anyone else that REALLY wants to master the art of the deal, but it’s a start.

Resourceful Questions is the one thing I would spend endless days teaching my younger self if I could. The Art of Deal is almost completely about capturing, directing, redirecting and mastering someone’s attention. Where attention goes, energy flows is not just some flimsy metaphysical idiom - it’s pure science. In nearly every negotiation you will ever make - the person you are negotiating with (I call them my negotiating complement)is focused on what he’s suppose to get from you and how he’s supposed to do that. Even power negotiators sometimes get caught in this trap and as they do - their attention moves away from the absurd and toward the predictable where they will loose their shirt to the patently absurd negotiator.

Here is a guide (though you can certainly be more creative than me)to getting in character for the absurd negotiator: If you are Negotiating for a bag full of golf clubs - see if you can get your negotiating complement to throw in a golf-car, golf-course or trip on the golf-yacht. If you are ordering a burger from some nasty fast-food restaurant - ask them to cook the meat well done, toast the buns twice, have them grill your onions, pickles and request they put all your condiments in small containers instead of on the burger. If being blatantly absurd is too scary then just ask questions all the time to people until you realize they will tell you anything and let you say just about anything to them. Interview everyone you meet in your daily life if you get a chance. The arab sounding woman that is taking your drive-thru order - ask her how many hours of English she’s studied, where she studied it at and what the requirements are at “that” restaurant to be work the drive through in terms of basic english.

If you are braver than the drive-thru litmus test then lets step up the challenge to determine your maximum absurdity. Start by reading Sun Tzu’s The Art of War. Never let your complement determine the terrain where you Negotiate. The more absurd the location of the negotiation the better. One of the rules of N.L.P. is that people can consciously focus on 7 plus or minus 2 things at any given time. Your job is to fill up the buffer of your complement’s conscious mind with irrelevant things. As he drowns in the noise of Chucky Cheese restaurant where 6 different birthday parties are going on at the same time and struggles to maneuver you into a position where he thinks he can reach your business jugular vein, simply have your secretary or maid call your cell phone every 10 minutes. Always over or under dress for a negotiation. The Art of the Deal has almost nothing to do with the logic of a presentation. Deals are made and broken on the passion and fears of your complement. They either go for what you offer because of hope or dread.

True absurdity for a Negotiator means turning your complement’s “set” into a minor sub-set of your own negotiation. Most people are not trained as Negotiators - they just think they are Negotiators. Asking Resourceful Questions really just means getting the Complement to tip his hand completely. Once your complement gives you the very strategy to wrench the lion’s share of the Negotiation from him then all that is left is to decide how long to gloat before you rip it from his paws.

If you are still unsure which way is up on The Absurd Factor, then go rent a clown suit and sell your daughters Girl Scout cookies door-to-door in some strange neighborhood. It is all the places that our complements WONT go that makes us powerful as Negotiators.

I offer Intervention, Negotiation and Arbitration as personal services. If you wish to hear more Negotiation Tips you can listen to my Audio Tips on my website: http://www.yourownbestgood.com and of course you can email me if you wish at bruce@yourownbestgood.com

Negotiating Customer Agreements

Every business needs to negotiate agreements with customers. The prophet Amos wrote, “Do two walk together unless they agreed to do so?” (Amos 3:3 NIV). Some agreements are pretty basic, such as a customer placing $5.00 on the counter and walking off with two gallons of milk.

Not all agreements are so simple. Many require some type of negotiation. Keep these factors in mind as you negotiate with your customers:

  • First, realize your goal is not to squash the other person. Rather, you want to win, and winning is coming to an agreement that is beneficial to both parties. Jesus said, “For by your standard measure it will be measured to you in return” (Luke 6:38 NASB). If you force your position on others, you may win today, but your victory will last only as long as you maintain that advantage. Competitive games create a winner and loser, while negotiating should aim at creating two winners.
  • Second, develop a clear understanding of what you want. This may seem silly in the sense that you want sales generated out of successful negotiations, but knowing your priorities will help you stay focused. If cash flow is slow, you may offer a lower price in return for cash payments. Or you may lower the price in return for a long-term contract or higher volume. Also, if inventory is high, a price reduction may help move inventory and generate cash.
  • Third, you need to understand what your customer needs and wants. What are the payment terms, delivery schedules, quality, quantities, and pricing that works for your customers? When bargaining with Wal-Mart, price will be the key factor as they buy from the low cost supplier. Other customers may want you to store inventory and ship as needed. Each relationship will be different and establishing customer empathy is a key step in successful negotiating.
  • Fourth, be prepared. King Solomon wrote, “He who restrains his words has knowledge…” (Proverbs 17:27 NASB). When your preparation is thorough, you can use that knowledge effectively. For example, when a customer raises an issue, you need to be ready to explain the rational for your position. If a customer pushes back requesting a lower price, you need to know the pricing of the competition. If your price is excellent, you can communicate that to customers. For example, when a concern is expressed with the three-month lead time required to order a specialized machine, you need to explain why the time is needed and the benefits of waiting. If you can’t clearly justify your point with facts, you probably hold a weak position.
  • Fifth, prioritize your needs and wants. Nobody gets everything they want, but a need is something you must have. For example, suppose a customer wants to special order an item. Since you probably wouldn’t sell this item to another customer, you may need a 50% deposit. Your customer has a want and you have a need. On other regular purchases, you may want cash up front, but a credit-worthy customer may want extended terms. You want cash up front for regular purchases, but don’t necessarily need it (with credit-worthy customers). Being able to differentiate between “needs” and “wants” will help you negotiate better.
  • Sixth, ensure you build trust. A Psalmist wrote, “How blessed are those who keep justice…” (Psalm 106:3 NASB). Without trust, why should anyone do business with you? If you sense distrust, simply ask the question, “How can I validate my good faith?” Negotiating an agreement with a customer without trust is nearly impossible. For example, if you don’t trust someone to honor your invoice, would you do business?

When you take the step of planning and executing your customer negotiations, you will build relationships that will generate long-term business. When you stay focused as to what’s important and approach each discussion with a “how can we both win?” attitude, you will be well on your way toward successfully negotiation.

This article provided by ChristianBusinessDaily.com — The Online Network for Christians in Business. Your source for news, articles, and commentary from a biblical perspective.

Strategic Negotiations - Better Relationships - Better Deals

Are you getting the results you want from your sales organization? If not, it could be possible that your sales force’s negotiation skills need sharpening.

Negotiation is part of each step of the sales process, not a one-time event. It begins prior to the first sales call and ends with customer recognition of the value your product or service brought to his business. Successful negotiating, then, requires the right mindset, the right tactics and a keen understanding of the pitfalls along the road to closing the deal.

Representing the Sales Performance Journal, business journalist Jennifer LeClaire talked with Dan Ball, a Miller Heiman Sales Consultant based in Atlanta, Ga., who works with several Fortune 500 clients in the region. Ball shed some light on his successful approach to negotiating by communicating value every step along the way.

Sales Performance Journal: What is the proper mindset going into successful negotiations?

Dan Ball: You need to go in with the mindset of trying to maximize not only the value that you get out of the relationship, but also what the customer gets. You also need to go in knowing what your desired outcome is.

SPJ: How does the salesperson break the ice, so to speak? What is the best strategy for breaking down those walls of resistance or overcoming salesperson stereotypes at the onset?

DB: Have the best interests of the customer in mind–as well as your best interests. Make sure your product or service is a good fit and meets each buyer’s interest. Be sincere and remember, people buy because they believe what you’ve told them. As soon as you ship the product or perform the service, they consciously or subconsciously check back to see if they got what they paid for. Make sure they see the value in what you’ve sold.

One of the key things to remember is that negotiation is not an event in itself. It is a process made up of a series of meetings. Communicating the value of your products and services throughout the sales cycle can have a huge impact on negotiations. Negotiation actually begins prior to your first sales call, and doesn’t end until the customer has realized the value of the solution that he bought from you and its positive impact on his business.

SPJ: How do you create the perception that you are working with the buyer as opposed to against the buyer?

DB: Throughout the sales cycle you are trying to uncover the interests of the customers and what they are trying to fix or accomplish, or, in some cases, avoid. You are trying to understand the buyer’s personal and business drivers. The CEO is looking for something different than the production line manager. What are they tasked with? What are their goals? How are they measured? Cost will always be an issue but it certainly shouldn’t be the deciding factor.

SPJ: What are a couple of common negotiation pitfalls and how do you avoid them?

DB: Not understanding the business impact your products and services can make on the customer’s business. It’s a mistake to continue pushing product. You need to sell the business solution.

Delta recently went through negotiations with its pilots. The airline was trying to reduce pilots’ salary because it needed to cut costs to stay in business. On the other side, the pilots were looking at how pay cuts would impact not only their salary, but also their retirement package and other benefits. Both Delta and the pilots gave a little and got a little to preserve the pilots’ benefits and the airline’s future.

SPJ: When is positional bargaining, like haggling, appropriate and when is it a big mistake?

DB: Bargaining and haggling are pitfalls. The other party may come into an interaction with a strong demand or position. You can’t negotiate a position, but if you understand the drivers behind the position you can develop solutions during the negotiation for the underlying problems that are causing people to take that position. Discovering interests behind their position leads to finding common ground on which to agree.

SPJ: What types of issues cause people to take certain positions?

DB: It comes down to what they think the solution should look like and not being willing to look at alternatives. When people are going to buy a car, for instance, they go on the Internet and do research. They find out what is the manufacturer’s cost and add a margin. That’s what they are willing to pay. They have made an assumption as to how much profit they will allow the dealer to make on that sale. They take a position. But if they only buy the car on price, they may be surprised when the service department is poor. So the salesperson needs to understand and communicate the value he brings and justify his price based on his impact on the business.

SPJ: How does the salesperson protect against manipulation and control?

DB: First of all, recognize it for what it is and then deal with it as the tactic, as opposed to reacting to it. If a buyer is sitting behind a nice desk and he seats you in a chair across from him that’s eight inches lower than his, just tell him you are not comfortable there and move to another location so you can be eye level with him.

Then there’s the tactic where the buyer has a fading memory. They make an agreement and forget what they agreed to. You have to document everything and furnish these notes to all participants after every meeting. That way you have a written trail of what agreements were reached during every negotiation session.

SPJ: What do you do when you reach a stalemate? How do you unlock the negotiations when there are no agreeable options?

DB: That’s what you call your walk-away position. When you discover it is not going to be a good deal for you and the customer is not willing to consider alternatives, then just walk away from that bad business. Salespeople have a tendency to not want to lose any deal, no matter what the cost. That can cause you to write unprofitable business.

SPJ: How do you close the sale without coercion?

DB: Get in agreement on all points and simply ask for the business. We try to put together a package of options that meet the needs of both parties and get agreement on each one of those options. Get agreement on the easy things first–but make sure each individual agreement is contingent on coming to a final agreement on all the issues. Start by developing solutions to mutual interests first, and then go to the harder points. Then you can bring it home.

Miller Heiman has been a thought leader and innovator in the sales arena for almost thirty years, helping clients worldwide win high-value complex deals, protect and grow key accounts, manage talent and optimize sales strategies and operations.

With a prestigious client list that includes Fortune 500 clients, Miller Heiman helps companies in virtually every major industry to build high performance sales teams that deliver consistent sustainable results to drive revenue through consulting and sales training.

Open a Dollar Store - How to Quickly Find a Store Full of Merchandise

The nature of small business is that some will fail to thrive. When that happens, the owner is generally eager to sell off the inventory as quickly and with as little effort as possible. Generally the goal is to just be done with everything associated with their business. They want to move on to new and different things with their life. When you open a dollar store this situation can present a great buying opportunity.

When these sell-off situations arise you are in the position to create a win-win for all involved. For you it is the opportunity to purchase essential products as below wholesale prices. For the seller it is the opportunity to make one sale that empties the store. When you open a dollar store these buying opportunities are always worth considering.

If you are just about to open a dollar store, moving the inventory from a closing store to your own soon-to-be-opened store is quick and easy to do. In one or two days you can have fully stocked store. And you should be able to obtain that entire inventory at a price that is significantly lower than wholesale.

If you have an existing store these buying opportunities create a chance to reduce cost of good sold while replenishing you inventory. When you open a dollar store begin looking for these stores and keep looking.

Whenever there is a buying opportunity you need to be among the first to know. As soon as you open a dollar store begin to network within the business community. Make sure that others in the business know that you are always interested in examining these opportunities. As they arise you will soon find that you are being contacted by sellers.

When you open a dollar store know that there are situation when you do not want to purchase the remaining inventory. If there liens against the inventory, all of the merchandise that sells well has been sold off, or the merchandise is very shop worn, in most cases you should avoid buying. It is no longer a win-win if you have warehouse full of merchandise that will not sell. However, in most cases these can be very good buying opportunities.

To Your Dollar Store Success!

Are you interested in owning your own Dollar Store?
Visit us at http://www.openingadollarstore.com for more information.

http://www.onlineauctionsmadesimple.net

Effective Tips on Good Business Negotiation

Negotiation is a big part of the business world. Every day, businessmen and women negotiate to close big deals. However, negotiation is also used to solve disputes between one or more parties. Negotiation is used to allow all parties involved feel that they have come out winning. The power to be a skilled negotiator is not something you are born with, it takes years of practice to hone this skill, and when perfected, you will have a certain power.

To become a skilled negotiator, there are several guidelines that one must follow in order to be successful. These guidelines have been proven to work with thousands of people around the world.

When you are the negotiator of one or more angry parties, avoid using the word negotiate. It makes that parties feel like they are settling and you will ultimately fail. Using positive statements such as Lets work things out or you may be interested in this…

Try not to use anything remotely close to negative terms, parties will grasp on to it and feel that they are being cheated. When you make a proposal that denotes positive words, more often than not, people will listen.

Before you start your negotiations, you need to sit down and look at both parties. Try to find a commonality between the two as a starting point. You need to set goals as to where you want the negotiations to go and set your priorities. You want to try and limit the amount of anger that will be brought to the table.

It is also important to try and figure out different scenarios that could lead to complications in your negotiations.

Any obstacles you can overturn before the negotiations begin will only assist you in completing your task sooner. You are negotiating to reach an equitable solution for both parties. It is crucial that you are prepared for anything when you go into negotiations.

When you enter into negotiations, state what your goals are right from the start. Do not make small talk, both parties are there to solve their dispute. When you do not start negotiating, it may appear that you are a weak negotiator. Having a clear and concise plan will ensure confidence.

It is important that you make all parties feel comfortable. If one person feels that you are not offering something to his advantage, he will start to feel resentful toward you. If you want the cooperation of everyone involved, you need to inform each person of the benefits of settling the negotiations. A good negotiator will listen to the viewpoint of each person and work from there.

Always be positive. Make sure that all parties work together and offer positive reinforcement by reciting past success stories. If parties in negotiations know that this strategy has worked in the past they may be more receptive to the idea.

Perhaps the most fundamental rule of negotiations is that you treat everyone with respect. Giving a gift to each party member as show of good faith will inevitably gain their respect. Have small plates of snacks available. People tend to get cranky when they are hungry. By treating others with respect you are being viewed the same.

Leon Edward helps people improve in Goal Setting, Success, Leadership, Self-Improvement, Happiness, Stress Reduction and more through his articles, blogs, reports on line and self-help success roladex-on-line . Visit his Self-Improvement Blogs, Articles and ebooks online at http://www.AwesomeSuccess.org

Leon Edward also helps people improve IQ, focus, memory, concentration, creativity, speed reading, public speaking , time management and reducing stress. Download his IQ Mind Brain Memory Self-Help library at his website http://www.IQMindBrainLibrary.com

Leon Edward Helps people to start, grow and maximize online business income with training articles, reviews, marketing log… ideas and opportunities. Download his FREE Report - How to Find A Solid Home Business Opportunity without Getting Scammed! - Find online business training articles, an internet business in a box, FREE Content , starting a business free ideas, residual internet income opportunities at his website http://www.HomeBusinessIT.com

The ABC Of Negotiation - The Three Golden Rules To Become A Negotiator Over Night

In my 30 years doing negotiations at all levels, I realise that these three rules are really what matter for achieving great results in any type of negotiations. The wonderful thing about these three golden rules is that even unskilled negotiators can win big time using these rules. They are the ABC of negotiation.

1) Aim Big 2) Be Patient 3) Concede Small

1) Aim Big

This is the realm of Aspiration, Arnold Toynbee once said: “It is a paradoxical but profoundly true and important principle of life that the most likely way to reach a goal is to be aiming not at that goal itself but at some more ambitious goal beyond it.”

I visited an Antique shop with my wife the other day and we fancied a great looking Victorian coffee table that was in mint condition.

The price tag was £499 and my wife was dying to buy it, the sales man noticed her attachment to the table and naturally wouldn’t budge on the price.

I said to him very politely that I am very embarrassed by the situation and that all what I have in my pocket is £90 pounds and no credit cards.

the sales man was shocked but appreciated my “openness” with him and said “you couldn’t make it £200 pounds.. (notice the concession he made.. for next golden rule).

I took my wife aside to ask if she has any money on her while she knew what I was doing..

I went back to the sales man and said my wife has only £20 on her and offered him all what we have which is £110 in total…

to my surprise he accepted while my wife was pleasantly in shock.

Obviously I can give you hundreds of examples on this golden rule, but I hope you got the point.

Poor negotiators are shy to ask or to aspire for stunning results. Remember you can always ask and the worst that could happen is that you get a NO, but more often than not the other party will want to continue if he saw that you are “genuine” and “polite”.

Try this rule when you buy a new car. First decide which car, study the price, determine how much you will pay (planning) and then, take the money in cash with you on the last day of the month and show it to the sales man “humbly” explaining that this is all you have for this beautiful car.

Just make sure that what you are paying him is around 20% less than the asking price. I promise you, you will get the car you dreamt off all this time and at a great price.

2) Be Patient

Have you heard of the expression "the 11Th hour?" And "All good things come to those who wait".

In most negotiations big concessions happen in the last few hours regardless of how long the negotiation has taken.

The more you bring the sales man or the buyer to his deadline without you conceding too much (The next golden rule) the more concessions will be given at the end.

Being patient till the end is what differentiates "the boys from the men and the girls from the women."

Top negotiators with no exceptions are patient, they play on the changing circumstances that will favour them in the end. This is one of Nature’s most sacred laws… things will change.

A Chinese proverb may be helpful here “if you wait patiently by the side of the river, the corpse of your enemy will pass you by”.

3) Concede small

You need to negotiate with the Russians one day to understand this golden rule.

The concession pattern tells a “patient” negotiator so much about his opponent’s situation and negotiation style.

The salesman in the antique shop went from £499 to £200, he reduced the price by 60% in the first go.. Is there more concessions to come? You may ask… of course there is.

What about the sales man situation? You could safely assume that the article in question couldn’t have cost him more than third of what he is asking for and that my £90 offer was still making him little profit or he wouldn’t have continued the negotiation.

A reasonable return for him would in this case be 50% and hence my £110 offer was what he would be comfortable with albeit not a great deal for him.

If the sales man said from the outset that he couldn’t go less than £400 which is a reduction of 20% as the first concession… how much you think I could have settled this for?

The answer would be around £190. Why? Going by the “third cost rule” for his industry, the table would have cost him about £130, adding 50% makes around £190 pounds.

Do you get the point?

There you go, the ABC of negotiation: Aim Big, Be Patient, Concede small and good luck

Would you like more information about strategy, negotiation and training?

Please visit my website for more articles on negotiations, strategy, leadership and much more.

Sun Tzu the Art of War Strategy & Negotiation Training

Please keep visiting for more information and articles as I build them up and perhaps one day we will meet at one of your company conferences, if you invite me to speak of course!!

Osama El-Kadi is an international negotiation and strategy Expert and motivational speaker

Copyright 2007 – Osama El-Kadi. All Rights Reserved Worldwide. Reprint Rights: You may reprint this article as long as you leave all of the links active, do not edit the article in any way, give author name credit and follow all of the EzineArticles terms of service for Publishers

Negotiation - The Skills, Goals And Tools You Need To Negotiate Effectively

Negotiating skills are a nonnegotiable requirement for success, but few people understand the structures, techniques and approaches available to them in an attempt to gain successful results. Effective negotiation means more than just getting what you want. It means arriving at a solution that satisfies all parties and creates future opportunities. Fine tune your communication style. Listening is a key part of effective communication. What is and is not said is key during negotiations and in building professional relationship. Establish an assertive approach, communicate in a clear fashion, remain professional, be patient, try to avoid aggressive behaviors . Neutralize objectives presented by the counterpart and negotiate with confidence.

Being aggressive means standing up for yourself in ways that violate the rights of others.
Aggressive behavior is typically punishing, hostile, blaming, and demanding. It can involve threats, name-calling, and even actual physical contact. It can also involve sarcasm, catty comments, gossip and “slips of the tongue.” Negotiation training will give you the crucial negotiation skill, strategies, tools and techniques you must have to effectively handle negotiations ranging from sales, contract, labor and business negotiations, to international negotiations involving business
and political conflict to all varieties of personal negotiations.

Negotiation Tips and Goals

1. Improve personal and professional profitability.
2. Achieve desired outcomes and create synergy while fostering relationships.
3. Maximize financial returns and value in negotiations.
4. Avoid being cheated.
5. Neutralize difficult negotiators and their tactics.
6. Enter into and conduct negotiations with confidence.
7. Know when and how to walk away from a negotiation.
8. Improve personal relationships with colleagues, clients and loved ones.
9. Build leadership and team building skills.
10. Turn cultural differences into assets rather than liabilities.
strategic thinking and planning is pivotal to your success in this business climate.

Letonio Franklin is an expert negotiator at Franklin Debt Relief in Chicago. Franklin Debt Relief uses debt negotiation and settlement to help relieve consumer debt burdens. FDR is a leading credit card debt relief company for consumers and businesses.

Business Debt Negotiation - Settling Your Business Debts

Business debt Negotiation has become more and more a popular option in recent years like the most successful debt solution in the market for any financial difficulties. People can apply for business debt negotiation or personal debt negotiation but one of the main problems nowadays is that the internet has lots of misinformation about these processes, causing people to distrust these programs, due to the huge amount of scams on the net.

- What is business debt negotiation?-

Business debt negotiation is a process by which businesses negotiate with their creditors to reduce the balance of their total amount of debt. Depending on the client’s circumstances, the creditors will decide what percentage the debt will be reduced to, the reduction can be as low as 40 to 50 percent. Once the creditor receives the funds the account will be zeroed out and your business will be debt free again.

- How does business debt negotiation affect the credit score? -

If you have been paying your debt on time and you are used to having your accounts current your credit score will surely be affected, and the business debt negotiation program will have a negative impact on your account, but there is one detail worth mentioning, before you attempt to apply for the business debt negotiation program, you see, before a creditor decides to see the possibility of accepting less than the complete balance as payment, your account must be in a delinquent state meaning that at least your business will have to be behind 3 months on monthly payments.

After your business has settled or negotiated every account and every deal has been paid then the account is closed and is reported as paid in full and the credit report will reflect a zero balance on each account. After that, each account of the credit report will begin to return to a number that is acceptable and eventually you will be able to obtain a mortgage, a car loan, or any other type of credit, once again. This happens generally a few months after finishing the whole process of the business debt negotiation.

- Is there any tax liability after applying the business debt negotiation program? -

When the creditor has already agreed to settle your account for less than the full amount, they are required by the IRS to report the canceled debt, if the amount of the forgiven debt is $550 or greater you may have to pay some taxes, although there is a possibility that you may not be required to do so if you can prove that you were “insolvent” at the time you finished settling your debts.

Here is some advice for those businesses that are suffering from debt and are thinking about applying for the business debt negotiation program:

Do not wait until your business has gone bankrupt, because there are several ways of helping you with your debts, although bankruptcy may seem very useful, it is at first, but like any radical solution it also brings lots of side effects that you will have to carry for several years to come. It is not easy to make decisions being a business entrepreneur, that is why you should always look out for the professional counseling that the business debt negotiation program offers. After successfully finishing the program you can enjoy of the learning programs that the business debt negotiation program has that will help you make decisions regarding your business financial future and will guide you both through the debt free road.

We have different articles on interesting topics and experiences from current and former clients with our programs. Take a look at related topics of different situations on Business Debt Negotiation that people can fall into and how to keep yourself a debt free person.

Check these links to learn more:


http://www.curadebt.com/about.asp

http://www.curadebt.com/settlement/business-debt-negotiation/business-debt-settlement-negotiation.asp

Debbie White is a contributing writer to http://www.curadebt.com and is currently writing some special articles to guide businesses on how to manage debt and avoid bankruptcy. For Business Debt Information and Debt Help Consultation, call toll-free 1-877-850-3328.

Don’t Fall Into Dumb Buyer Syndrome “DBS”

Dumb Buyer Syndrome or “DBS”, as I coined with my employees, is a problem I have encountered many times in my many years as a business owner selling to other business owners. You can recognize them easily, they believe they are the expert negotiator who feels success is only achieved when the price is reduced. Any savvy business owner worth his or her salt knows that selecting the right vendor is less expensive and more important than selecting a vendor solely on the price.

If you were to conduct a Total Cost Analysis (the cost of using the product and/or service over it’s projected life span or length of your ownership) you will find in most cases the cheapest buy will probably be the most expensive. For example;

Car A is priced at $12,000 and Car B is priced at $18,000. Car A depreciates quicker and in 4 years it’s resale value is $6,000 and Car B in 4 years is valued at $12,000. The expenses required to maintain Car A over the 4 years is $2,000 and Car B is $600. Therefore after 4 years Car A cost you $14,000 less trade in at $6,000 = $8,000 and Car B after 4 years cost you $5,400 after trade in at $12,000.

What this simple example demonstrates is that Car B is the better valued car. It is cheaper over the life of ownership and you will probably enjoy a better quality and safer ride than Car A.

So when a potential customer wants to negotiate on price and not negotiate on value, in other words compare apples to apples, I call these buyers my DBS clients. In other words, I mark the price up higher than what I sell to other customers to let them feel powerful when they skillfully get my price down to what is usually higher than my smarter customers.

Don’t be a Dumb Buyer!

Ray MacNeil writes in his Blog daily for New Entrepreneurs and those people considering the move into Self-Employment. His blog can be found at: http://franchisefun.blogspot.com

Resolving Conflict

The disagreement between people is inevitable however if it’s not resolved it can lead to a complete breakdown in communication. You need to accept that the issues the other person has are real to them no matter how far from reality you think it is. You also need to both take away any personal aggression and avoid personal attacks as this will lead to failure to resolve things.

Below are a few suggestions that can help you resolve issues:-

1. Arrange a Neutral meeting place - If at all possible arrange the meeting in a mutually agreed location away from your office and indeed theirs. This will help to generate a balanced meeting. Ensure that you will not be disturbed and agree a time frame for discussion.

2. Use a facilitator/arbitrator - It may be useful to use/employ a facilitator when the problem seems to be irreconcilable without one. In which case ensure you use somebody who sets clear guidelines and gains your agreement that you are both committed to making this work.

2. Mutual respect – As you begin the meeting you must respect both yourself and the person you are having difficulties with. It is the problem that you want to resolve to allow you to work/be friendly with each other in the future.

2. Legitimate disagreement – You must accept disagreement as natural and inevitable and even potentially acknowledge the fact that disagreement can be positive to reach an improved solution to a situation.

3. Form a contract – You must contract to work on the issue for mutual resolution and mutual benefit.

Resolving disagreement is a scenario that needs a win-win resolution. Without this, one party will invariably walk away disgruntled and this could effect future business situations.

Marc Lockley has spent 20 years in UK National Press media sales most of which at senior levels. Now he has developed a coaching practice that centres around two main areas: negotiation and leadership.

He offers negotiation coaching both in business and your home life. Think of how much you could save and make negotiating the sale and purchase of your own house for example?

He offers coaching that truly develops your style, talents and skills. It is tailored to your requirements to help you get the best out of deals.

If you would like to find out more on how coaching can help you or your business then email marc@lockleyassociates.co.uk or look at his website http://www.lockleyassociates.co.uk