A Day In The Life Of A Wheeler Dealer

A day in the life of a wheeler dealer

In the final stages of business negotiations where even smaller contracts may be at stake, things can get very frustrating and time consuming, especially if something has been in the pipeline for a while.

It is important at this stage never to rush negotiations or overlook details as there is certain etiquette to be observed in the deal making stage:

·         Keep accurate notes of all meetings and clearly summarize all points agreed. This will help to minimize going back over old ground.

·         Agree time scales by when the contracts should be agreed, backed up by consequences if they are not met, such as delayed installation, clash of resources, stock not being guaranteed etc... Or simply stress the benefits that the customer can enjoy, as soon as things are sorted out.

·         Concede points slowly, even minor ones.

·         Never give a concession without receiving something in return.

·         Never call a person's bluff unless you have a winning hand.

·         Understand the customer's viewpoint before explaining your own.

·         Make sure you are dealing with people who have the authority to negotiate.

·         Let the customer win the points that mean the most to him, in return for you winning the issues that are most critical to you.

·         Keep your ego out of the way! More deals have been lost because of stubbornness and the inability to back down, when a little humility would have won the order.

·         Don’t give up, even if you seem to be locked in a stalemate situation.

Communicating the vision

A personal view, 

Pick the number one problem you have in your company. I bet you it’s “communication”.

At least that’s what we’ve found our number one problem to be. Communication - the race to beat the grapevine. That ever-present, always-speedy, and usually inaccurate grapevine. There always seems to be a tremendous “need to know”. If that need is not satisfied with timely, accurate and good information, it will be satisfied with rumors, half truths and worse.

But this “need to know” is not a bad thing. In fact, I believe it’s quite healthy. All of us devote a good proportion of our lives to work. We want to know what’s going on , how the company is doing, what changes are taking place, what results we’re getting, how what we’re doing has some meaning. I believe that it’s a good, healthy desire, this “need to know”. If it is properly satisfied, it can be a powerful tool to help form a strong, cohesive team that has a vision far higher than just an individual’s own particular job. Let me illustrate this with the following story.

A man was walking down the street one day and saw two bricklayers at work. One seemed disgruntled and unhappy; the other was working cheerfully away, seemingly enjoying his work. So the man went to the first bricklayer and asked what he was doing.

“Oh” he said, “I’m just putting these bricks down, slathering this stuff on them and putting more bricks on top of that, over and over, all day long”. The man went to the second bricklayer and asked him what he was doing. “Me?” he replied. “I saw the plans. I’m building a beautiful home. A family is going to live here and raise their kids here. And he went on cheerfully laying bricks.

When people don’t know what the vision of the company is, don’t know how the company is progressing, don’t know what is happening, then they are simply putting down bricks, slathering down bricks, slathering some stuff on them and then putting down more bricks, hour after boring hour, day after uninteresting day.

But, when the vision, progress and problems are shared, work takes on a new meaning. More importantly, they have a real understanding of what they can do to help achieve that vision. It’s amazing how much every person in the organization can add, once they know what the organization is trying to achieve and once everyone focuses on the same objectives. Personally, I call this concept “then power of 1000 minds”.

But it isn't something that just happens. Firstly, the leader(s) of the organization must think out and put into words exactly what the vision - or strategic objective - is. Then, this must be communicated to everyone, repeated and reinforced constantly.

If this is done well, the result is a lot of people “building a beautiful home” or in many cases “a great business”.

How to flow with resistance

Life flows easily when others go along with us and eagerly embrace our ideas. But when we meet opposition, we tend to fight resistance with more resistance, which leads to …….. more resistance and even resentment. Instead of stubbornly defending your idea like a dog with a bone, you can reduce the contention by using a more dynamic approach.

n    Once your idea is out on the table, consider it public domain. Try to put your agenda (and ego) aside and give up the need to “be right”. Instead, invite the creativity of others to help shape and refine the final outcome.

n    Don’t let what you perceive as an attack on your ideas because you forget that your goal is to gain support not defeat an enemy. Respect resisters by listening carefully to their points of view and responding without anger or defensiveness.

n    Identify the blocks. Ask: What do people oppose about the idea? Do they have concerns about the way it will impact them? Do they dislike the idea or the way you plan to carry it out? Do they need more information to feel comfortable before committing to the idea?

n    Be prepared to do additional footwork. You may need to put a new twist on your plan or gather more information to convince others that you've got the right idea. Sometimes our “devils advocates” can become our closest allies, once their doubts have been dispelled.

n    “If you can’t beat them, join them.” This doesn't mean sending up the white flag or sacrificing your ideas. It means using the synergy that comes from combining your ideas with others to find the best solution. Seek common interests that you can use to craft a common vision.

In most organizations, everyone is working toward the same ultimate goal, though they may be looking at it from different sides. In these cases, a blending of perspectives and a combination of solutions often work best for all concerned.

More thoughts on success

Success is often a matter of common sense applied to everyday life. The following is a list of success secrets taken from years of often painful learning.

n    Thank people. Never forget to say thank-you to anyone who has done you a favor, large or small. A written thank-you note is one of your most powerful success tools.

n    Show up. Often, nothing beats a face-to-face meeting. Do your best to communicate in person whenever possible.

n    Don’t delay. Don’t let small problems fester. Deal with today’s molehill before it turns into tomorrow’s mountain.

n    Master minutiae. While others are wasting their time, spend yours getting to know your industry inside out. It’ll pay off later.

n    Build credibility - Talk to experts in your field. They’re easier to contact than you may think.

n    Communicate your commitment. If you can’t show people you’re committed to your ideas, they won’t be willing to expend much energy towards helping you reach your goals.

n    Manage your time. Focus on what you need to accomplish. Distractions and interruptions may require your immediate attention throughout the day, but be sure not to lose sight of your overall goal.

n    Be kind. Don’t try to show people up; they’ll spend their time looking for ways to get even.

n    Cultivate allies. Don’t waste your time trying to convert doubters who will never see your point of view. Instead, work on developing strong supporters and identifying possible allies.

n    Results. Don’ let the “niceties” of life get in the way of results. Minding your manners is important, but remember that sometimes it’s necessary to get mad!!