The Art of the Deal

In business, we focus on negotiation constantly.  What can I get for what I have?  If I offer this concession, will the deal close?  What's the least I have to give to get what I want?
You can't give away something without knowing what you're getting, right?

Our initial instinct is to protect what we have and see if we can get more.  More is good;
more customers, more salespeople, more real estate, more power.  Our success often comes at the expense of others.

What if we took a different approach?  What if you base your success on how much you give instead of how much you receive? 

Could you give that customer to a colleague knowing that they would probably be a better fit for each other?
Could you ship that order for free knowing it would help your customer be more profitable - without them asking for it?
Could you mentor salesperson on another team that competes with you?

The business world expects you to want something for the things you give. 

Take a different approach: differentiate yourself or your company by the story of your generosity.  Use your skills as a shining light to accelerate the growth of those around you.  Think long term relationships instead of short term gain.  Be okay with getting taking advantage of by some -- the ones you really want along for the ride will outweigh them.  Have your customers tell others of the great things you did for them because you gave more than expected.  Be indispensable at work because you always help your peers become successful.

The next time you need something, give more than you have to.  You're in it for the long haul, and by creating a culture of giving, you'll get more back than you expect the next time.

Integrity

As defined by Merriam-Webster: "The quality of being honest and having strong moral principles; moral uprightness."

Integrity is a powerful quality.  I argue we're born with it. With some, it gets whittled away little by little to nothing. With others, it is the one thing that is consistent throughout their lives.  Driving our decision-making, our world view, and our choices, it is something one can count as asset or a liability. 

Life is full of unknowns and variables, and it is often our integrity that guides us.

Integrity is why we choose to walk away from a bad deal.
Integrity is why we think beyond ourselves and how our actions affect the rest of the organization.
Integrity is why we don't force inventory on customers to make our quota.
Integrity is why we agree that commission should go to someone else.
Integrity is why we share information that may help others.
Integrity is why we fire bad customers.

When you deal with a customer, what drives you the most? Closing the deal at any cost or thinking about a future together?

When you compete with a co-worker for business, are you hiding information that results in more resources being used?

When you make a mistake, do you admit it freely or find ways to hide it or shift blame?

You drive through the crossroads of integrity every day in all of your business relationships.  You choose at these moments your success and your legacy. 

By choosing integrity, you choose to be surrounded by others who share that same view.

It is here where your customers find you irreplaceable and where you and you co-workers create a culture where work has meaning and purpose.

What Can You Stop Doing?

What are you going stop doing in your business this year?

We often get bogged down in big plans and initiatives, but we often forget to examine and cut loose the things dragging down our bottom line.

Things to consider stopping or cutting loose:

1) That failing business unit that's been unprofitable but you keep hoping it will turn around

2) That "hard-working" salesperson who has missed quota the last six months 

3) That policy that helps you avoid risk but makes it twice as hard for your customers to buy

4) That manager that keeps chasing away good employees because of his management style

5) That monthly management meeting that is heavy in spreadsheets and light on inspiration

6) That lack of trust in your front line employees 

Make the decision, pull the trigger, and let go of those things hindering your growth. 

Brown M&Ms

You may remember a story from the 1980s about Van Halen and browm M&Ms.

The story goes that the band demanded in their catering contract that no brown M&M we're allowed backstage.

This story has been re-told many times in the context of a ego-maniacal hair band abusing their power at the peak of their popularity.  However, this take is incorrect.

It turns out that Van Halen used this as barometer for how much the concert venue and promoter paid attention to their overall requirements.

Van Halen was one of the first bands of the Eighties that took concert production to the next level.  While other bands showed up with a couple tractor-trailers, they showed up with nineteen sometimes.
They knew they were dealing with a technical house of cards, and they needed to make sure that everyone was on the same page about the importance of all their requirements to have a successful and safe show.

We all have our "brown M&Ms" as customers.  It may be the price of orange juice at the supermarket, how quickly your order ships, or how long it takes your account manager to respond to issues.

As a supplier, you need to understand that your customers are evaluating every part of the business relationship.  A minor detail to you may be a major indicator to your customer.

You know the weak links in your business.  They don't exist on an island, thus the word "link".
It may be a process, a person, or a policy.  Address it today. 

The Power of Why

In many organizations, those that ask "Why?" are seen as "negative" or "not aligned". 

They become the squeaky wheels who seem to always derail meetings. (on a side note, most meetings stink and should be derailed-that's for another day)

"Why?" is one of the most powerful things that can come out of our mouths.  It is the basis for scientific thought.  Unless you don't want to apply any science to your business, I'm confused about the disdain for this question.

I find it humorous when those in charge try to apply the chain of command as a reason for not allowing "why" to exist.  Is your business a matter of life and death?  If not, then there is always room for questioning previous decision--especially if its in the service of growing the business or improving the story about the company.

"Why?" gets us to the heart of the matter.  It uncovers the true reason for a process.  It doesn't assume anything, just asks for more clarification.   It does, however, demand an answer.

Maybe those who seem annoyed by the question, either don't know (which may show vulnerability), don't like the loss of control, or are disappointed that they've been towing the line without asking "why?" themselves.

Top Down

There is plenty of advice and reinforcement out there about taking control of your career and destiny.  We are all learning that you need to make things happen versus waiting to be tapped on the shoulder for that promotion.

This is translating into unsanctioned meetings among work peers, trying to get things done, solving problems, and changing the work culture.

The problem occurs when this is the only way change happens.
Organizations have superiors/bosses/leaders for a reason: to make decisions and move things forward.

When a leadership or decision-making vacuum exists, and things are moving not forward, employees grow restless and frustrated.  Those ad hoc meetings may come up with solutions, but the final OK often lies up the chain of the command.

Decisions (even wrong ones) and change need to happen on a regular basis.  An organization is either growing and improving or is is contracting and decaying.  Status quo means leaders are failing to own decisions and fearful of putting their stamp on something new.

Yes, we know its up to us to improve our lot in life or to fix something we see needs fixing.  But we also know that a leadership strategy that includes taking the safe road doesn't inspire us nor does it give us a light at the end of the tunnel.  Its tiring, and if its about "grass roots", then what do we need our superiors for?

Corporate culture shaping from the bottom up is a great story, but so is visionary leadership that has us excited to get to work every day.

How Much More?

In business, more is typically synonymous with better.
Is more always better?

It depends.  Let's not confuse more attention, more focus, and more control with more customers, more products lines, and more expansion. 

A salesperson can chose to have more customers in her portfolio, or to focus on paying more attention to a smaller group of high quality customers.

A product manger can chose to have more product lines in his offering, or chose to the be the best at a smaller offering of products, creating more value for both his customers and his vendors.

A company can chose to expand into every market they see an inkling of competition, diluting its brand and confusing its customers, or it can be comfortable with its core customers and its market share in the service of keeping a more consistent and enduring identity.

In a world where the story of your brand is more important than ever, you need to decide how much more and what kind of more you want.