How To Negotiate Successfully

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For entrepreneurs and those who have already established a business, making deals is a mainstay of keeping your business going. The deals can take different forms, from simple acquiring of products or equipment to hiring workers, and even to forming partnerships with or buying other companies. There is a bit of an art to making deals, and one of the key elements to deal-making is negotiating. If you don’t know how to negotiate successfully, the whole deal can fall apart. So what does it take to be able to negotiate successfully? Here are a few tips to help you along.

1. Silence is golden
One thing to keep in mind is silence, which is one of the most powerful negotiating tools. The more you are silent, the more likely your opposition will be to expose themselves and provide you with the advantage. You won’t even need to jump at the chance; if you’re silent just a little longer, they will soon offer you whatever you want just to resolve the deal. The trick, however, is to know when to be silent.

2. Long-term
While at the negotiating table, think about the future and about how what you say can do can create a long-term relationship, and that long-term relationship can make future negotiations go easier and also make your business world better.

3. No
Don’t be afraid to say “no”. You want to be agreeable, but you go into a negotiation wanting certain things. Remember what you are wanting, and if you don’t seem to be getting it, say “no” as often as you have to until you get what want.

4. Ask
Don’t be afraid to ask for what you want. Be assertive and challenging. Everything is negotiable at the table. Being assertive means to say “no” (as above), and does not mean being aggressive. Let them know what you want in a non-threatening way. Challenging means to not take everything at face value to but think and decide for yourself and not just believe what others tell you.

5. Listen
Don’t talk too much. Instead, listen to your opposition, and understand their issues and point of view. Understand what is important to them, where they may be flexible, and what limits they may have. Then come up with an appropriate response.

6. Prepare
Don’t go into the negotiate not knowing anything about the situation. Review who the other company is and the background of the person you’ll be negotiating with. Review any similar deals the other company made in the past, what the terms were, etc. Study the other company’s competitors and what their offerings and prices are.

7. Professional and courteous
Keep the negotiations professional and courteous. In other words, “don’t be an asshole”, as the rule goes. You may need to work with the people again, so you want to foster a long-term relationship, and a professional, positive tone to the negotiations will help to close the deal.

8. Walk away
Be willing to walk away if you can’t close the deal satisfactorily. If you are willing to walk away, the other side will know that you are serious and for them to make concessions.

9. Give and get
Don’t give away something without getting something in return. If you don’t force them to give you something back, they will feel entitled to ask you for more.

10. Patience
Be patient. Don’t be in a hurry. You’re likely to make mistakes and leave money on the table if you rush. If the other person is a hurry and you aren’t, they’ll think you’re not under pressure to close the deal and will start making offers in order to get you to close the deal.

11. Optimism
If you have high expectations for the deal, you’ll get more out of it. Sellers should ask for more than they expect to get and buyers should offer less than they’re willing to pay. Those who aim higher often do better, as their optimism becomes a self-fulfilling prophecy.

These are just a few tips to help you negotiate successfully. You can find more tips here, here, here, here, and here.

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Strategies That Help Your Business Grow Faster Than You Imagined

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When you start your business, you naturally want it to grow and probably have made some sort of plans to help it grow. You probably think it will take some time for it to happen, which is only natural. It certainly won’t happen overnight. You’re probably thinking it will take a least a couple of years or so to see some noticeable growth. But you know, there are ways you can help your business to grow faster than you imagine it to take. So how can you do it? Here are a few tips and strategies to speed up your business’s growth.

1. The right people
Hire the right people. Hire those people who have the skills you need, who aren’t afraid to work, and who, most importantly, will back you up and help you achieve your goals.

2. Lower risks
They say that if you want to succeed, you need to not be afraid to take risks. That’s all well and good, but you don’t want to have too many risks. There are many things that can threaten a company, such as data theft, so be sure you have security in place. Also consider getting business insurance to cover your various assets, etc.

3. Adaptable
Things are always changing in the business world – technology, trends in the market, marketing strategies, etc. – so be willing and able to accept and adapt to the changes or you’ll be left behind.

4. Customers
Of course, your products and services are important to the success of your business, but more so are your customers and their experiences. What they experience will determine if they will return and what they tell others will determine if you will get new customers. So focus on giving your customers a happy, satisfying experience, and listen to what they say about you and how you might do better. Find ways to help keep your customers loyal, as well. Perhaps a reward program of some kind?

5. Sales
Find ways to increase your sales. How can you get more customers? What can you do better your marketing and advertising? How are your products or services? Do they need to be better?

6. Innovation & new products
Put your imagination to work and try coming up with new and unique products or services to boost your profits, and try to put them into new markets. You can also try developing new products for your existing market.

7. New markets
Are there some different markets you can expand your current products into? Perhaps your product might need a small adjustment or your packaging a minor change to fit into new markets.

8. Expand
Maybe new products and new markets aren’t working. In that case, try to expand your current products in your current market.

9. New location
You can try expanding your business, as well, by opening another location or even offering it as a franchise opportunity.

10. License
Consider licensing your products. It helps you lower risks and you can also get money from sales and use of your product, brand name, etc.

11. Alliances
Form an alliance or partnership with similar companies as a way to expand your business quickly.

12. Diversify
Try to diversify what you offer. Sell complimentary products or services. Teach classes. Be a paid speaker. There are different things you can do.

13. Internet
The internet has much to offer in terms of helping growth. You can sell things online and you can do marketing and promotion, and many other things, so don’t overlook it.

These are just some of the things you can do to help your business grow and grow fast. There are many more, and you can find some of them here, here, here, here, here and here.

Stand out from the crowd and aggressively grow your business with Aggressive Growth Marketing. The Growth Marketing Agency that provides Growth Hacking Marketing, Social Media, Guest Blogging, Email Marketing and growth focused Digital Marketing Agency services. Call 020 7692 8960 to discuss your needs today.

Business Lessons Learned From Steve Jobs

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People who are just starting out at something, whether it’s to learn a skill of some sort or to do something like start a business, they are often recommended to go to someone experienced in the area to learn how to do it or just to get advice. For those who are involved in the business world, there are many experienced and successful business people you can go to for advice. One that is sure to come to mind and have some useful insight is Apple’s turtleneck-wearing founder and rival to Bill Gates, the late Steve Jobs. What sort of advice might he have to share with budding entrepreneurs?

1. Innovative
Be innovative. Many successful business leaders will tell you this, not just Steve Jobs. According to Jobs, “Innovation distinguishes between a leader and a follower.” Jobs often attempted to marry both art and technology to his products to create new and innovative things.

2. Right and left
Most people tend to be right-brain (emotional and creative) thinkers or left-brain (analytical and critical) thinkers, but Steve Jobs recommends being both in order to deal with both technological and human components of a business While technology tends to be focused more on analytical and critical thinking, Jobs often relied on the creative and emotional aspects of his right brain to solve problems and create an emotional connection with his products.

3. Foresight and confidence
A true business leader has both foresight and confidence. Jobs was a true visionary in his field and set high standards others can only hope to meet. He was one to not get caught up in corporate bureaucracy and would often make intuitive decisions instead, having a knack for knowing what consumers wanted despite what the data might say. He was confident in his beliefs and what he was doing and had the foresight to see what people would want.

4. Focus on product and user experience
Instead of overwhelming the market with a wide assortment of products, Steve Jobs and Apple offer a limited range of products, enabling them to focus on making their products better and providing the best user experience they can to their customers. Jobs would often reject many product ideas and designs if he didn’t think they were right; he had no qualms about saying “no.”

5. Embody your brand
Apple is a brand that is beloved by millions of people and is practically a pop culture in itself. The same can pretty much be said for Steve Jobs, who embodied many of the qualities associated with his brand: innovative, cutting-edge, and design-savvy. An entrepreneur must embody the qualities of their brand, leaving no disconnect between their images.

6. Passion
There must be passion in all that you do. “You’ve got to find what you love,” Jobs has said. “And that is as true for your work as it is for your lovers.” If you don’t love what you do, you will not put your heart into it, and you will not produce the best that you can.

7. Right people
Hire the right people. Surround yourself with the best people you can find who can do what you can’t. Steve Jobs made sure to hire the best and would demand their best, and fired anyone who didn’t live up to expectations.

8. Involved
Be involved with your company. Get involved in every facet of it so you have direct, hands-on knowledge of what exactly is going on in your company.

These are just some of the many lessons the late, great Steve Jobs could teach in regards to business. You can find more enlightening examples here, here, here, and here.

Stand out from the crowd and aggressively grow your business with Aggressive Growth Marketing. The Growth Marketing Agency that provides Growth Hacking Marketing, Social Media, Guest Blogging, Email Marketing and growth focused Digital Marketing Agency services. Call 020 7692 8960 to discuss your needs today.

How To Be An Agile Business In A Fast-Paced, Ever-Changing World

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It’s no secret that the world is an ever-changing place. Things never stay the same. Society evolves. Climate changes. Technology evolves. Trends come and go. The world has become a fast-paced place, as well, as more and more demands are put on our time, and technology advances to let us do things quicker and easier. It can be hard for a person to keep up with it all, and it can certainly be hard for a business to keep up. That’s why people, and businesses, need to be more agile and flexible in order to adapt. But let’s focus on the business aspect, for now. How does a business become agile enough to handle this fast-paced, ever-changing world?

  1. Focus

It’s easy to get bogged down with all the priorities and demands put on us. Don’t get overwhelmed. Make a list of what the top three or four things that are most important to get done, and focus on them. As you complete one, add another to your list.

  1. Communicate

Unless your colleagues and employees know what your goals are, they are likely to not get where you want them to be and your goals won’t be met. Give them a clear vision of what you want the future to look like so they can better make decisions to help you reach that future.

  1. Unexpected

“Expect the unexpected.” Make a plan for any possible eventualities that may arise. Make your budget and processes flexible enough to accommodate any changes that may happen. If you do that, your business can quickly handle any unexpected events.

  1. Innovation

It’s ok to have an occasional innovative new products or services, but to truly keep up with new changes, continuous innovation is key. Keep tweaking your products so they are always enhanced and improved.

  1. Motivation

Give your workers motivation to work, and not just for money. They like to know what they do makes a difference, so regularly tell them what your greater purpose for the business is and let them be involved directly in it.

  1. Autonomy

Your business will not be quick or agile if people keep having to come to you for decisions. Give them autonomy to make decisions on their own so they have control over their own work.

  1. Watch

Keep an eye out on the market and make note of changes in technology, trends, customer needs, competitor moves, supplier markets, etc. Anticipate what might happen next and look for opportunities to pursue. Continually adapt to any changes you need to in order to keep up.

  1. Learn

Good leaders are always learning new things, new skills, in order to adapt to changes. A good idea is to go to leaders outside your industry circle to learn from. Also, go outside your comfort zone and push your limits to learn new things, and don’t be afraid to fail.

These are just a few ideas to help your business be agile in a fast-paced, changing world. You can find more information here, here, here, and here. The main thing to remember, though, is to know that things are always changing and to always be willing and able to adapt to change.

 

Stand out from the crowd and aggressively grow your business with Aggressive Growth Marketing. The Growth Marketing Agency that provides Growth Hacking Marketing, Social Media, Guest Blogging, Email Marketing and growth focused Digital Marketing Agency services. Call 020 7692 8960 to discuss your needs today.

A Deep Dive Into Various Stages Of Business Growth

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Business growth is something all business owners aspire to achieve. Growing the business means a greater opportunity for success, especially for small businesses. Yet there is more to understand about business growth than just what the term sounds like, and if you truly want your attempts at business growth to succeed, you need to have a good understanding of the concept, such as the various stages of business growth. Yes, there are stages to it. For small businesses, there are generally five stages to keep in mind. Hopefully, the following deep dive into the various stages will help you understand business growth better.

  1. Foundation/Existence

This is the stage where you have first started your business and are trying to make it a viable one. You are, at this stage, focused mainly on getting enough of a monthly cash flow coming in that you can break even. This is normal for many companies that are just starting out, but many companies that have been around for years also continue to struggle to break even. Businesses here need to be focused on creating a consistent monthly cash flow so they can eventually move out of this stage and make profits.

There will also be some challenges and opportunities concerning customers. The main challenge will be creating a product or service that people will want. The opportunities will be in finding different ways to draw in customers. Focus on getting customers, both to pay you and to bring in more customers, so you can move forward.

  1. Survival

If you have reached this stage, you will have managed to stop breaking even every month and begun to make a profit. You are ready to begin getting an ROI, which means you’re set to expand what you did in Stage 1 and work towards meeting a set profit requirement (a requirement, not a goal).

Your challenge at this stage will be to make a profit; i.e., your revenue is greater than your costs. But more than that, it must be a sustainable profit. Succeed, and you will have a self-sustaining business, which can provide many opportunities, such as working for yourself full-time without worry, the ability to hire staff and give them a living, and the chance to meet new customers and other people in your industry.

  1. Success

Can your business sustain itself without owner intervention? If, so, congratulations! You’ve finally made a self-sustaining business. What next? You can continue the success you have or try to rapidly grow your business into a large corporation. The choice is yours to make.

Your challenge is to do more than merely survive. You want to find new avenues of income to give you a profit margin that will let you put funds back into the business. If you do things right, you have the opportunity to fund future growth, or you can detach yourself from the business, appoint managers to oversee things, and use the money for other things, like a new business venture.

  1. Rapid Growth

Congratulations! If you’ve done things right in Stage 3, you’ve entered the exciting period of rapid growth, when your business begins to really take off and can potentially become a large company.

The trick, though, will be to make sure your growth doesn’t outpace your assets, resources, and systems.

Your challenge is to have enough funds to invest in growth while keeping a stable cash flow. You will choose wisely what projects you should invest in and which to avoid. Invest in people and systematizing processes while avoiding things that worked at the start but are no longer needed. Done right, you have the opportunity to reach the big leagues, but even if you don’t, you will have still accomplished incredible growth and become a big name in your industry, which can lead to more opportunities.

  1. Maturity

Congratulations, you’ve reached the final stage. With your rapid growth, you have the chance now to offer related products or services to your existing customers, or to even expand into new markets. You need to do this because eventually, you will reach the point where there is no longer an opportunity for rapid growth and you will need to come up with a way to deal with slowing growth and a stable company. You have the opportunity, as said, to diversify with new products or services, or even buy another business. Or you can just fine-tune what you have in order to deal with the inevitable changes to come in your industry.

You can learn more about the different stages by visiting this article, this article, or this article, as well as this article and this article.

Stand out from the crowd and aggressively grow your business with Aggressive Growth Marketing. The Growth Marketing Agency that provides Growth Hacking Marketing, Social Media, Guest Blogging, Email Marketing and growth focused Digital Marketing Agency services. Call 020 7692 8960 to discuss your needs today.