Money Is Not Always the Most Important Issue in Negotiations

In many deals and negotiations, much time is spent on price. One side negotiating for the highest amount they can receive and the other negotiating just as hard to keep the number as small as possible. And while I won’t say this isn’t important, because it certainly is, often the actual dollar amount may not be the most important issue on the table, and sometimes even when it is the most important, there are other variables that are equally important or almost as important that can be major influences in the final outcome. We have all heard stories of the person who refuses to settle for a large amount of cash, because what the person really wants is for the other party or side to admit to wrongdoing and apologize. For a person such as this, the principle of the thing really is the most important, and money does not matter. There are other circumstances where issues other than money will make or break negotiations and in the end can be the factors in making better deals.

I have seen episodes of “Shark Tank” on television where the Sharks offered to purchase the name, or the entire business, and then license the idea out to other manufacturers and so forth, and besides the initial cash offering, provide a continual royalty to the seller for life on all profits the idea makes. Some people have accepted such an offer, and others have refused because they wanted to remain a part of the business they helped create. While selling everything and accepting a continual royalty very well might have made them rich, it was not enough. For some people, being a part of the businesses growth and daily activities was more important that just making money. These people were willing to walk away to find other resources and continue their dream, which was not necessarily money, but the pursuit of their creation.

At other times, things other than cash can turn out to be worth many more times that which is anticipated. Any one who has ever watched “I Love Lucy” reruns on television added to the net worth of Lucy and Desi, or their estate after they were gone. During the negotiations for the show, Lucy and Desi negotiated for the right to rebroadcast the shows at a future date. At the time reruns were virtually unknown, because who would want to see a TV show more than once? The rights seemed worthless to the network, so the readily agreed to that part of the deal. An issue that wasn’t money sure made Lucy and Desi a lot of it.

There are many things that can be negotiated other than money. That’s often what expanding the pie is all about. The creative negotiator will keep money in mind, but look for the other issues to negotiate the best deal possible.

Presentations – 3 Fail Save Tips

Many people say they would prefer to go to the dentist and have a drilling without anaesthetic, be locked in a box full of spiders or sky dive with the person they would most like not to be with rather than make a presentation.

Of course we all have phobias and things we convince ourselves we can’t do. Mine is picking up the telephone to sell and I’m sure you can tell from the language I use that I have a set of assumptions about ‘selling’ and more importantly the likely outcome. In short, fear of rejection.

And it’s the same with presentations. You may be talking to a number of different people (internal v external) in a number of different circumstances (formal v informal) to deliver a number of different outcomes (information v commitment).

It may, of course, just be to entertain but this is usually the realm of more experienced speakers.

So, fear of presenting is not a trivial issue. Here are 3 Fails Safe Tips.

1. Take the Angst out of it

• What’s going through your mind here?
o I haven’t done it before;
o I have done it before and I didn’t feel it went well
o People were so patronising with their feedback.
o Actually I didn’t want to ask them!
• So what’s likely to be overwhelming you at the moment? It’s your emotion isn’t it?
• And we all know that we are our own worst critics. Do you have some one or something – say a parent or parrot – on your shoulder – saying don’t, can’t, failure, you’ve done it before and it was rubbish!
• So do all of us! So park this stuff.
• Think positive. Be a footballer and imagine scoring the winning goal.
• People coming up to you and saying:
o That was something I’ve been struggling with for ages – thank you for helping me out;
o I really enjoyed the energy and commitment you put in to your presentation;
o I could never do that – tell me what I need to do to be like you.
• This can be really difficult, but in addition to practising your presentation in front of the mirror and recording it, you really ought to trial it in front of somebody who you know will give you constructive feedback.

2. Attend to the Practicalities

• Having done the ‘hard’ work in shaping and preparing your presentation, on the day there are some practicalities you need to take control of.
• Yes, I mean take control of, because no matter how exquisite your speech preparation has been, there are some really practical issues if not addressed can literally destroy your presentation.
• So what might they be?
o Can people hear you? – do a sound check with the people at the back of the room;
o Lighting – are you visible for everybody in the room? Are you moving between light and dark patches?
o Are your slides visible to everybody? – are you getting in the way of people seeing the slides?
o Are the slides too busy?
o Are you using the slides as your script?
o If you want to facilitate people talking amongst them selves does the room layout support this?

3. Believe you’re the ‘Expert’ for the Day

• And of course you are.
• It doesn’t mean you know more than anybody else in the room – and if you don’t they’ll probably let you know.
• But if your presentation is well prepared with robust factual evidence then you’re on the high ground.
• If you want to express an opinion then make sure you label it clearly – my view is that…
• You can acknowledge different points of view – on the one hand/on the other hand.
• But don’t be wishy washy in terms of your outcome – express a view, evidence it and be prepared to learn!

4 Ways to Exhibit Confidence When Giving a Presentation

Imagine this is what will happen to you the next day. You are going to give a presentation to a group of people whom you have not met before. The presentation topic is something you are familiar with because this is not the first time you present this topic. As a result, you believe that you can do a good job to deliver this topic smoothly to your participants. On the day of your presentation, unexpected events happened. You have unconsciously used a wrong phrase to explain a concept and you participants spotted your mistake. You have just discovered a typographical error on one of your slides. You were challenged by one of your participants who disagreed with a point you made in your presentation. How would you react to these unexpected events?

Here is the truth. In all presentations, always expect the unexpected. If you were hesitant, your confidence level would go down immediately and this could affect the flow of your presentation. The question is what you could have done to maintain your confidence level notwithstanding these unexpected events. In this article, I am going to share with you 4 tips that could help you to exhibit your confidence when giving a presentation.

Dress appropriately

As a speaker and trainer, I do presentation on different topics, for example, tax training and personal development training. I have my own dress code for different types of training.

In my tax training, most participants will be working professionals. Hence, I will put on my business suit to make me look professional. This is always my way of building rapport with this group of participants and raising my credibility.

When it comes to my personal development training, I will dress differently. The reason is that my participants can come from all walks of life and it does not make sense to wear business suit. Instead, I tend to wear black shirt because studies have shown that black colour signals power and authority. Whenever I am in black, I feel strong and unstoppable, and this helps to boost my confidence level and prepare for the unexpected events during my presentation.

State clearly your purpose

Have you come across with speakers who are experts in their relevant fields but do not look confident when giving presentation? Based on my own research, I discovered a secret. That is, they do not have a clear purpose of giving the presentation. There is a saying that “the bigger the why, the easier the how”. What this means is that we must know why we are giving the presentation before doing it.

Here is what I do for my presentation. I will write down my purpose of giving that presentation. I will put myself into the shoes of the participants and ask this question – “Why should I listen to you?” Very often, what I have written down becomes part of the introduction of my presentation and this is another powerful technique of building rapport with my participants and maintaining my confidence level.

Learn to say “Yes”

I am not sure if you notice that we are surrounded by a lot of negative people and negative thoughts. I was told before that for each positive statement we made, there would be 14 negative statements before and after that. In my presentation, I do my best not to allow any negativity to be present because I know that it will affect my confidence level.

Here is what I do in my training. I encourage my participants to say “Yes” with me whenever opportunity arises. When saying “yes’, say with conviction and make sure that all the people in the training room can feel the positive energy. Positive energy in my view is clearly a booster of my confidence level.

Put on our listening ear

Here is my final tip – to put on our listening ear. As mentioned above, one of the unexpected events is that my participants do not agree with what I said in my presentation. Even though I feel strongly that I am right, I will remain silent and let my participants finish their point. I will listen carefully to what they say and handle the objection tactfully based on my business training. Sometimes it may be useful to handle such objection offline because the longer it drags on, the more negative energy will be built in the training room, resulting in a drop of my confidence level.

I hope you enjoy my sharing. Use these tips if they make sense to you and share with me your success stories in my website. I would love to hear from you.