From The Editor's Desk
August sees the celebration of women in the form of National Women's Day on 9 August 2008. The objective of the celebration is to recognize and pay tribute to women, the historical contribution that women have made and also to call attention to the existing challenges that women face.
Recognising the need for an event that would address exclusively women's issues, The Dealmaker Programmes Company created The Dealdiva™ programme. This unique course helps women recognise that being the fairer gender can be a huge advantage, rather than a disadvantage, particularly in business. The programme gives insight into the role intuition, behaviour and expertise play in getting what you want in business and personal deals.
You may remember (see the newsletter of February 2008), we featured an article on how poorly women fair in negotiations. Most women - even very successful women - are apprehensive and uncomfortable about negotiating, even when this impacts their personal and financial wellbeing. Now is the time to become a World Class Negotiating Diva! See the end of the newsletter for details on the next The Dealdiva™ programme.
In this month's Edition of the newsletter
- Due to the overwhelming response to last month's "Did You Know" article, we have decided to take a look at another fascinating culture
- Dr Hussein Cassim is The Dealguru™ Graduate starring in "The Real You" Interview section
- We feature a story that teaches us about the power of self belief
- "Bad Faith, Bribery And Other Interesting Dealmaking Dilemmas" is the name of this month's article from the Managing Director of Spectrum Solutions
- And finally, as we have come to the end of the "Introducing The Dealmaker Team" profiles, we have decided to trial a new section entitled "Tips On How You Can Improve Your Business", which outlines ideas on how to increase the profitability and productivity of your business. This month is all about branding.
Happy Women's Month - Portia Ngcobo
Did You Know?
In last month's Edition of the newsletter, we featured an article on how learning about other people's cultures can lead to increased social and business opportunities. We have had such a positive response to the Zulu culture article, that I will be introducing you to other cultures (as extracted from Terri Morrison and Wayne Conaway's book Kiss, Bow, or Shake Hands) for the next few months.
This month we bring you insights into the culture of the country with the second largest economy in the world (when measured on purchasing power parity), Japan.
Japan is a parliamentary democracy under a constitutional monarch. Power within the government resides mainly in the Prime Minister, the leader of the majority party of the Parliament.
In negotiation, the Japanese tend to rely more on their feelings than on facts because they are inclined to be subjective rather than objective. They also strive for consensus above anything else as group harmony is imperative. When it comes to decision making, the Japanese function as a group, with little or no personal recognition.
Tips On Doing Business In Japan
A poker face in the Japanese culture is of great use. They do not like strong public displays of emotion. If you show shock or anger during business negotiations they will believe that you lack self control and are questionable as a business partner. So, a show of emotions is a huge Do Not.
The younger members of your team should generally remain quiet and defer to their seniors during meetings. The Japanese like to convey information via a junior executive, for example, if their boss is not happy with your offer, the junior executive will be the one who will tell you.
The Japanese ask a lot of questions including information about your job, job title, your age, your responsibilities, the number of employees that report to you, etc. Japanese is a very complex language with many forms of address and honour. They need plenty of information in order to decide which form of address to use when speaking to you.
Negotiating And Selling
- Be punctual at all times. Tardiness is considered rude
- A Japanese response "I'll consider it" may actually mean "no"
- Hard sell techniques will fail in Japan, so find the points on which you and your Japanese counterparts agree and build upon those. A positive, persuasive presentation works better with the Japanese than a high pressure, confrontational approach
- Negotiations are begun at the executive level and thereafter continue at middle management
- Using a Japanese lawyer rather a Western one indicates a cooperative spirit
- Do not make accusations or refuse anything directly - be indirect
- At work Japanese are very serious so do not try and lighten things up with humour
- Age equals rank in Japan so show the greatest respect to the oldest members of the Japanese group with whom you are in contact
- Lastly, contracts are not perceived as final agreements. You or they may renegotiate.
I trust you have found this insight into the Japanese way of doing business and negotiating of interest. In next month's Edition of the newsletter we will introduce the culture of the country with the largest economy in the world, the United States of America.
Extracted from "Kiss, Bow, or Shake Hands" by Terri Morrison and Wayne Conaway
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"The Real You" InterviewInterview with Dr Hussein Cassim
Managing Director of Richester Foods
The Dealguru™ Graduate |
1. What was your first job and how much was your paycheck?
Salesman at a clothing store, I got paid R10 per day.
2. In one sentence, describe your current job to a five year old
I sell sweets.
3. What has been the proudest moment of your life?
When my children were born.
4. Where is the most interesting place you have ever visited? Why?
Bombay, India. I can't believe that so many people live together, in peace and harmony, and there are no accidents on the roads, even with so much traffic.
5. What is the most interesting thing you have ever seen? Why?
Childbirth - the miracle of life happening in front of my eyes...
6. What is the biggest lie you tell yourself?
I am on a diet (no, this is not a mistake!)
(Editor's note: we see no reason for Hussein to be on diet!)
7. If you were an ice cream flavour, which flavour would you be?
Strawberry - full of flavour, alive with colour and everyone's favourite.
8. If you were a superhero, who would you be? Why?
Superman - I hate traffic and waste too much time travelling, so flying would be great!
9. What is the best advice a grand parent ever gave you?
Hard work never killed anyone.
10. What is the best advice a business mentor gave you? Who was the mentor?
Never give away anything without getting something in return - Kim Meredith
(Editor's note: Kim is flattered as she thinks you are an awesome Dealmaker)
11. If you were President for one day, what law would you put in place?
Capital Punishment.
12. If you were given the opportunity to have dinner with one person, alive or dead, who would you choose and why?
The Prophet Muhammed (PBUH) - he is the most influential human being in the history of mankind in my opinion.
Interesting insights into the mind of a Candy Man!
Tips On How You Can Improve Your Business: Branding
Our planned new feature is designed to highlight tips on how you to improve the performance of your business. This month we focus on the importance of branding.
Under promise and over deliver. Ever heard that one before? It's one of the many myths that have been taught in business, or so says Rick Barrera, a leading branding expert. Barrera has come up with a new line: over promise and over deliver, as elucidated in his article entitled Over-Promise Your Way to the Top.
Under-promising can be your one-way ticket to oblivion. Because consumers and businesses are moving at warp speed these days, they won't slow down long enough to fully understand your under-promise. To grab their attention, says Barrera, you must over-promise.
By over-promising, do not make promises on things you can't deliver. Instead, you must make an outrageous claim on which you can deliver. Most companies already have such capabilities, which is why their current customers do business with them.
Here are a few examples that have done just that.
- An American Girl over-promises by offering girls dolls that will utterly enchant... and then over-delivers by giving each doll a fascinating biography
- Google over-promises by offering everything a customer would want to find on the Web... and then over-delivers with an average search time of 0.2 seconds
- Hummer over-promises a driving experience that's "like nothing else"... and then over-delivers with an attention-grabbing design, extra comfort and a built-in Hummer community
So how can you create your own over-promise?
1. Start by examining your vision for your company.
Why did you start your company in the first place? What was missing in the marketplace that you vowed to fix on behalf of your customers? The essence of a brand can be drawn from a business founder's original thoughts.
2. What is your product or service's single most important attribute?
What makes it unique? What one word do customers think about or feel when they hear your company's name? Volvo means safety. Lexus means luxury. What does your product mean?
3. Ask your customers why they buy your products.
Then ask them why they don't buy your competitors' products. In the chasm between these two answers, you'll find a beacon that points to what your over-promise should be.
4. Ask non-customers why they don't buy your products or services.
Then ask why they buy your competitors' products. This pair of questions will give you insight into the misperceptions they have about your product or company, or will point you toward serious shortcomings in your offerings.
5. What emotions do your customers feel when they use your products?
Why do customers pay a premium for a Hummer, a Lexus or an American Girl doll? It's because of the way it makes them feel or because of the way it makes others feel about them. These are powerful brand-building insights you must consider when you're crafting your over-promise.
Once you've done your research and have brainstormed some potential over-promises for your brand, be sure to test them with your customers and your potential customers for effectiveness in both their ability to grab attention and to accurately reflect the actual brand experience.
Over-Promise Your Way to the Top by Rick Barrera as extracted from www.enterpeneur.com (edited)
This Edition's Story
In The Limits Of Our Success We're Often Our Own Worse Enemy
More than fifty years ago, on 6 May 1954, Roger Bannister broke the Four-Minute Mile Barrier. For thousands of years, people believed that it was impossible for humans to run the mile in less than four minutes - some even suggested that it was scientifically impossible to achieve. But Roger Bannister wasn't one of them.
Bannister overcame this "impossible" barrier, not only through physical training, but also by constantly rehearsing breaking the Four-Minute Mile Barrier in his mind. And he did it with so much emotional intensity that it became an unquestioned command to his subconscious to produce the result.
Bannister, like most great achievers, had the ability to psyche himself up to the point where he had no doubt in his mind that he would SUCCEED, even though no one before him had done so. With enough emotional intensity and repetition, we too can make ourselves "believe" something as real... even if it hasn't yet occurred!
One of the amazing things about Bannister's breakthrough effort was the effect it had on other runners. Within a year of the Four-Minute Mile Barrier being broken, 37 other runners also broke it... and a further year later, 300 runners had done the same thing! Bannister was able to show them that with the POWER OF BELIEF they too could achieve what he did.
Many of the barriers and obstacles that keep us from being successful come from within. We create LIMITS for ourselves and don't think it's possible to go beyond those LIMITS. To overcome them, we need to BELIEVE we can succeed... and constantly reinforce that belief.
What are some of the things you dream will someday come true? Believe it will happen and be COMMITTED to making it happen!
Extracted from www.brainseth.com (edited)
Guest Article
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Bad Faith, Bribery And Other Interesting Dealmaking Dilemmas
By Kim Meredith, Managing Director of Spectrum Solutions |
dealmaker: a person skilled in using instinct, processes and expertise
in primarily negotiation, selling and communication,
and able to leverage or adjust the balance of power
to bring closure to transactions that usually benefit all parties
(© The Dealmaker Programmes Company)
So, did it work? Have you improved the quality of the deals you are doing? Are you making more money yet?
For those of you that are reading this and have no idea what I am talking about, allow me to bring you up to speed. In my last article I made the statement that each and every one of us is born with dealmaking skills but that most of us start to lose these skills in conforming to "the system" during primary school. I also proposed that you practice one important element in order to get your dealmaking skills re-started. My recommendation was this: the next time someone wants something from you, ask yourself the following question: "what can I get in return for giving this person what they want?". I suggested you stop giving things away for nothing and start trading - just like a four to eight year old child instinctively does (at this age they still haven't lost the dealmaking skills with which they were born). I did caution against trying this with your loved ones (!), but boldly stated, in fact guaranteed, that just asking for something in return - trading - would set you on the path to being a better dealmaker.
Something For Something
The statement I made was bold - it had to be! This essential first step is what it takes to begin your journey towards being a more skilled dealmaker. I have never heard an expert dealmaker or negotiator say that asking for something in return is "acting in bad faith". I have never read a book on negotiation or business deals that says trading is "bad faith". I have, however, often heard unskilled dealmakers make this statement. Now, you might be feeling a little uncomfortable at this stage about asking for something in return for a discount or favour or whatever it is that someone else wants to get from you. I discussed briefly in the last article the saying "give to get", but have you ever come across the expression "quid pro quo"? If you don't already know, you may guess that this is Latin - and you would be right - and you may also guess that it means "an eye for an eye" or something similar. Again you would be right. The direct translation of "quid pro quo" is commonly accepted as "something for something". This is a concept with which good dealmakers are perfectly comfortable. It certainly helped the ancient Romans hang on to their conquered territories for many a century. But how do you feel about getting "something for something"? If it makes you feel uncomfortable, you need to work on your trading mindset.
Bad Faith
Let's explore "bad faith" further. As I have said, "bad faith" is something into which only unskilled dealmakers seem to buy. Here are a few definitions of "bad faith" from the Web:
- The fraudulent deception of another person; the intentional or malicious refusal to perform some duty or contractual obligation www.answers.com
- Opposite of good faith, implying or involving actual or constructive fraud or intent to deceive in order to gain some advantage www.leanlegal.com
- Bad faith indicates an intentionally dishonest act where legal or contractual obligations are not fulfilled. It is done with the purpose of deceiving and misleading someone into an agreement www.attorneykennugent.com
- "Actual intent" to mislead or deceive www.crfonline.org
Now, isn't this interesting? Nowhere is there a definition of "bad faith" as "expecting something in return for giving something" - ie: trading. So from where does this thinking come? My theory is that it emanates from the 1970's trade union negotiations in the UK where, typically, the unions would make outrageous salary and benefit demands, management would counter with demands for increased productivity or reductions in the workforce and the unions would bellow "bad faith!". This sure caught on in the circles of poor negotiators! Stop thinking about trading as "bad faith" and you will improve your dealmaking abilities overnight. Trading is quid quo pro, "bad faith" is the actual intent to mislead or deceive.
Sweetening The Deal
Another statement I have never heard from a skilled dealmaker or negotiator is that they give away something for nothing in order to "sweeten the deal". Once again, this is the domain of the unskilled. There exists a very naïve view that in giving the other party a "gift" of some sort, the relationship will be improved and the giver of the "gift" will get a better deal. If you want a better deal, trade your "gifts" for the concessions you want from the other party. Trade "gifts" for "gifts", so to speak. But keep it legal! I have heard too many tales about suppliers "giving" customers swimming pools or hunting trips or the like in exchange for the deal. We all know what happened to Schabir Shaik! "Sweeten the deal" by getting a deal with which all parties are satisfied!
Bribery vd Trading
I have been consulting in, and teaching, negotiation and dealmaking for many years and I am continuously asked to explain the difference between bribery and negotiation. Let's go back to children for the moment. When you want your six year old to get in the bath, he will usually start with delay tactics. Then he will change the subject, trying to distract you, but eventually he'll get to something like "I'll go bath if you give me ice cream tonight". Or you may even offer the ice cream to get him into the bath! Are you bribing him? By my definition, you are trading with him. For me, bribery is when you ask for or offer something that, should the law or your boss or your partner find out about, will land you in very hot water. The Concise Oxford Dictionary (10th Edition) defines a bribe as "dishonestly persuade someone to act in one's favour by a payment or other inducement". Where bribery starts and ends is a call you need to make in defining your trading parameters. All I know is that if it is going to get you into trouble, you shouldn't do it!
The Loved Ones
In the last article, and again in this one, I cautioned against trying to get something in return - or trading - with your loved ones. I have also said don't give "gifts". What about this advice when it comes to those you love? I am not suggesting that when you get home this evening and your partner wants you to hang up your clothing, you retort with "well if you take me out for dinner I'll hang up my clothes". You are far more likely to have an argument than get dinner! There are times - and loved ones are a case in point - when you may want to give something, or do something for somebody, out of the generosity of your heart. Go ahead and do it. Just be very careful of saying "I was being generous" when what you were really doing was avoiding trading and thus making a poor deal. Do not pretend, like a delegate did on a recent course, that you "love" all your customers and thus you can give things away to them without getting something in return!
Use the tips in this article. They will help you to not only improve the quality of your deals and make more money, but also to have more fun when you do deals. Enjoy!
Kim Meredith
Johannesburg
August 2007
The Dealmaker™ Programmes - Remaining Dates for 2008
With only a few programmes left for 2008, do not miss out on your chance to book a seat one of The Dealmaker™ Courses now! To register to attend a programme or to request further information, please email info@thedealmaker.com or call 011 440 0193.
The Dealcloser™ |
Venue |
01 & 02 October 2008 |
Johannesburg |
The Dealbuilder™ |
Venue |
16 & 17 September 2008 |
Johannesburg |
The Dealdiva™ - Women Only |
Venue |
11 & 12 November 2008 |
Johannesburg |
The Dealmaker™ |
Venue |
07 - 09 October 2008 |
Johannesburg |
The Dealmaker™ Follow-up |
Venue |
21 & 22 October 2008 |
Johannesburg |
The Dealguru™ - Executives Only |
Venue |
14 & 15 October 2008 |
Johannesburg |
Forthcoming Attraction
We made mention of The Dealdiva™ programme at the beginning of the newsletter. Here is some additional information.
The Dealdiva™ is a two day programme which has been developed for Women Only and addresses the negotiation challenges and obstacles women face on a daily basis. Recent research shows that women have allowed themselves to fall far behind their male counterparts in terms of dealmaking expertise. This programme is suitable for women with any level of business or negotiation experience who are looking to significantly enhance their skills.
Change your life now. To register for the programme or to request further details, email info@thedealmaker.com or call 011 440 0193 today.
Wishing you a wonderful month! - Portia Ngcobo |
