Negotiating in business requires a blend of strategy and empathy, and to uncover the most effective tactics, we’ve gathered insights from CEOs and founders. From strategizing the timing of negotiation responses to listening and addressing mutual needs, discover the top tips these experts recommend for successful business negotiations.
Strategize Timing of Negotiation Responses Timing plays a significant role in achieving favorable outcomes in business negotiations. Alongside adjusting your price offers and counteroffers, strategically managing the timing of your responses is key. Counter-offering too fast can give the impression that you’re not earnest about the pricing. Taking a moment to provide a thoughtful reply demonstrates that each incremental change in the negotiation matters to you. Even if you are willing to agree to their terms eventually, showing deliberation can make the other party feel more content with the agreement once it’s finalized. A swift reply might come off as dismissive, as though the negotiation holds little value for you. When a deadline approaches, the party more in need of the deal tends to concede more. This is evident in scenarios like gym memberships being cheaper in December than in January, when there’s a surge in interest due to New Year’s resolutions. If you’re the one facing a deadline, it’s crucial not to let the other party dictate the pace of the negotiation. Create a sense of urgency, perhaps by mentioning discussions with alternative suppliers or buyers, inducing a fear of missing out (FOMO) in them. - Michael E. Farah, Founder, Realtor and Real Estate Attorney, The Farah Law Firm, P.C. Foster Mutual Understanding and Compromise From experience, I’ve found that the key to effective negotiation is to really understand where the other side is coming from. Rather than focusing solely on your own objectives, take the time to listen and empathize with the other party’s concerns and priorities. By approaching negotiations with a collaborative mindset, you can work towards finding mutually beneficial solutions that foster long-term partnerships. Transparency, honesty, and a willingness to compromise are essential ingredients for successful negotiations in any business relationship. - Cody Jensen, CEO & Founder, Searchbloom Employ the FFF Negotiation Technique One unique tip I’ve found effective in negotiating business relationships is the FFF technique, which stands for “Feel, Felt, Found.” This approach involves empathizing with the other party by acknowledging their feelings (“I understand how you feel”), sharing a similar experience you or someone else has felt (“Many of our clients have felt the same way”), and then transitioning to what you have found or discovered (“However, what we have found is…”). By employing this technique, I’ve been able to validate the other party’s emotions, establish common ground, and then gently guide the conversation towards a favorable resolution. This approach not only fosters empathy and rapport but also empowers me to steer negotiations towards mutually beneficial outcomes. - Jonathan Rosenfeld, Owner and Attorney, Rosenfeld Injury Lawyers Adopt a Cooperative Win-Win Strategy The truth is that, in business, people are more prone to take a selfish approach when it comes to negotiating. However, what makes this approach counterproductive is the fact that it is important to maintain a positive reputation, especially if the business relationships that have been built on trust are to be sustained. In my experience as a business leader, I have learned that the key to winning at negotiation is being ready to reach a compromise that is more favorable for both parties. What this means is that one would have to realize that the whole point of negotiating is not just that they get what they want, and the other party gets to walk away unsatisfied, which would result in a win-lose situation. No, the goal is to find the middle ground where both parties would win and be satisfied. Therefore, one tip I would recommend for effective negotiation in business is to take a more cooperative approach that is more focused on ensuring that both parties win, as opposed to being too competitive, which would most likely make you appear uncooperative. The truth is, by being cooperative and showing an interest in seeing that both parties walk away from the negotiation having reached a compromise that leaves them equally satisfied, you would also get the other party to become more reasonable and open to reaching a compromise that does not hurt your work relationship and the reputation of the business. - Andrew Johnson, General Manager, National Drug Helpline Prioritize Genuine Connections and Trust In business relationships, one tip for effective negotiation is to emphasize the importance of establishing genuine connections. Instead of regarding negotiations merely as transactions, prioritize gaining an understanding of the opposing party’s viewpoint and cultivating an environment of trust and mutual respect. By placing integrity above all else and putting relationships first, you establish a solid groundwork for enduring collaboration and achievement. Within the travel industry, the establishment of genuine relationships with suppliers, customers, and partners has proven to be crucial for obtaining advantageous agreements, resolving disputes, and accomplishing common goals. In the end, the benefits of investing in relationships extend beyond short-term gains, resulting in enduring partnerships that yield favorable results for all participants. - Anam Barkan, Travel Enthusiast, Director Marketing and Founder, Zoyago Manage Emotions with Emotional Intelligence Keep emotions in check. Negotiation is an art where understanding and managing your emotions can give you an edge. Emotional intelligence allows you to remain focused, understand the perspective of the party opposite you, and find a mutually beneficial solution. It’s about communicating effectively and being empathetic toward others’ needs while staunchly advocating for your own. This balance fosters respect and often leads to successful negotiations. - Andrew Pickett, Founder and Lead Trial Attorney, Andrew Pickett Law
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In a rapidly evolving job market, we sought insights from professionals across various fields to predict which roles might decline in the coming years. From the diminishing role of travel agents to the waning demand for print journalism, here are five perspectives on the careers that could phase out from 2024 onward.
Travel Agents’ Diminishing Role Due to technology, travelers are becoming much more independent when it comes to booking their travel and accommodations, so there is a high chance that the career path for travel agents is likely to become restricted in the future. For travel agents to stay relevant, they need to ramp up their customer service and add value to build loyalty and trust that will ensure travelers keep using their services to book flights and accommodations in the future. - Leah Lambart, Career & Interview Coach, Relaunch Me Bank Tellers Becoming Obsolete Traditional bank tellers will likely phase out from 2024 onward. The expansion of online banking and financial technologies has changed how we interact with our finances, encouraging a shift toward digital transactions. This transition means fewer people visit physical bank branches, reducing the need for tellers. My prediction is not just based on technological trends but also on observing customer behavior toward favoring convenience and speed in transactions, which digital platforms better facilitate. - Ace Zhuo, Business Development Director (Sales and Marketing), Tech & Finance Expert, TradingFXVPS Retail Store Managers’ Decline A professional position or career trajectory that I foresee becoming obsolete starting in 2024 is that of conventional retail store managers. Due to the proliferation of e-commerce platforms and the growing prevalence of online purchasing, traditional retail establishments are encountering formidable obstacles in their efforts to maintain competitiveness. An increasing number of consumers have begun to favor the variety and convenience of online shopping, which has resulted in a decrease in customer visits to physical retail establishments and sales. Furthermore, technological advancements have empowered retailers to optimize processes and mechanize specific duties, thereby diminishing the necessity for conventional store managers. Consequently, it is my conviction that the waning demand for conventional retail store managers will persist over the forthcoming years, culminating in the obsolescence of this professional trajectory in favor of retail positions that are more heavily reliant on digital technologies. - Jerry Theobald, Owner & Real Estate Enthusiast, AZ’s Best Pool Service & Repair LLC Cashiers Replaced by Automation It is my opinion that with the advent of automated checkout, cashiers who currently work in traditional storefronts are likely to become things of the past. I recently went to a supermarket, where I noticed a significant trend toward more self-checkout kiosks. Automated checkout systems will likely revolutionize the retail industry and potentially make traditional cashier jobs obsolete. - Zoe Miller, Strategic Business Leader & Market Analyst, Tea Time Facts Print Journalism’s Waning Demand As per my understanding, digital media continues to dominate, and the traditional roles in print journalism may phase out. With the audience favoring online platforms, the demand for print publications dwindles. The accessibility of digital news reduces the relevance of printed newspapers and magazines. This results in journalists transitioning to digital formats or multimedia storytelling to adapt to changing reader preferences and technological advancements. This shift shows the evolving landscape of media consumption, focusing on the importance of staying current with emerging trends to stay competitive in the field. - Dhari Alabdulhadi, CTO and Founder, Ubuy Kuwait In the pursuit of physical fitness and vitality, men often seek ways to enhance their muscle mass and energy levels. Testosterone, a crucial hormone in the male body, plays a pivotal role in regulating muscle growth, energy levels, and overall well-being. As men age, testosterone levels naturally decline, leading to potential decreases in muscle mass, energy, and libido. However, there are various strategies available to optimize testosterone levels and unlock peak performance. In this article, we’ll explore effective testosterone optimization strategies tailored to boost muscle mass and energy levels in men.
Understanding Testosterone Testosterone is a hormone primarily produced in the testicles and is responsible for regulating several bodily functions, including muscle mass, bone density, fat distribution, red blood cell production, and libido. It’s often referred to as the “male hormone,” although it’s present in both men and women, albeit in different concentrations. Testosterone Optimization Strategies 1. Balanced Diet A nutritious diet is fundamental for overall health and hormonal balance. Incorporating foods rich in essential nutrients like zinc, vitamin D, magnesium, and healthy fats supports testosterone production. Foods such as lean meats, fish, eggs, nuts, seeds, leafy greens, and fruits are excellent choices. 2. Weightlifting and Resistance Training Regular exercise, particularly resistance training and weightlifting, has been shown to increase testosterone levels. Compound exercises like squats, deadlifts, bench presses, and rows engage multiple muscle groups, stimulating testosterone production. Aim for a well-rounded workout routine that includes both strength training and cardiovascular exercise for optimal results. 3. High-Intensity Interval Training (HIIT) HIIT workouts involve short bursts of intense exercise followed by brief rest periods. This form of exercise has been found to elevate testosterone levels and boost metabolism, leading to enhanced muscle growth and fat loss. Incorporating HIIT sessions into your fitness regimen will help optimise testosterone levels while improving overall fitness. 4. Sufficient Sleep Adequate sleep is crucial for hormonal balance and overall health. Studies have shown that sleep deprivation significantly lowers testosterone levels, disrupts hormone production, and impairs muscle recovery.[1] Aim for 7–9 hours of quality sleep per night to support testosterone optimization and muscle growth. 5. Stress Management Chronic stress can elevate cortisol levels, which will interfere with testosterone production and muscle building. Incorporating stress-reduction techniques such as meditation, deep breathing exercises, yoga, or engaging in hobbies will help mitigate the negative effects of stress on hormone levels. 6. Limit Alcohol and Avoid Excessive Drinking Excessive alcohol consumption results in reduced testosterone levels in the blood [2] by disrupting hormone production and liver function. Limit alcohol intake to moderate levels or avoid it altogether to support testosterone optimization and overall health. 7. Natural Herbs and Remedies Several herbs and natural remedies have been traditionally used to support testosterone production and enhance male vitality. Some of these include: - Tribulus Terrestris: This herb has been used in traditional medicine to support male reproductive health and enhance libido. Studies suggest that it may also help boost testosterone levels, although more research is needed to confirm its effectiveness. [3] - Ashwagandha: Known as an adaptogenic herb, ashwagandha has been shown to help reduce stress and cortisol levels, which may indirectly support testosterone production. Additionally, some studies indicate that ashwagandha supplementation may lead to modest increases in testosterone levels. [4] - Fenugreek: Fenugreek seeds contain compounds that may help increase testosterone levels by inhibiting the enzymes that convert testosterone into estrogen. Emerging studies indicate that fenugreek supplementation may enhance men’s strength, libido, and overall testosterone levels. [5] - Tongkat Ali (Eurycoma longifolia): This herb is commonly used in traditional Southeast Asian medicine to promote male fertility and enhance libido. Research suggests that tongkat ali may help increase testosterone levels and improve muscle strength and endurance. [6] Finally, optimizing testosterone levels is essential for men seeking to enhance muscle mass, energy levels, and overall vitality. By incorporating a combination of balanced nutrition, regular exercise, adequate sleep, stress management techniques, and natural herbs and remedies, men can support healthy testosterone production and unlock their full physical potential. It’s essential to consult with a healthcare provider before implementing any testosterone optimization strategies to ensure safety and effectiveness. With dedication and a balanced plan, men can embark on a journey towards improved muscle growth, increased energy levels, and optimal well-being. Meet Our Contributor — Jay Armour Jay Armour is a certified Personal Trainer & Nutrition Coach specializing in weight management with over 16 years of experience helping thousands of clients reach their goals. Armed with this extensive knowledge and expertise, Jay rises above the myths and fads that saturate the fitness and nutrition landscape. Learn more about Jay’s work here. *Article References: 1. Leproult, R., & Van Cauter, E. (2011). Effect of 1 week of sleep restriction on testosterone levels in young healthy men. JAMA, 305(21), 2173–274. https://doi.org/10.1001/jama.2011.710 [2] Emanuele, M. A., & Emanuele, N. V. (1998). Alcohol’s effects on male reproduction. Alcohol health and research world, 22(3), 195–201. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6761906/ [3] Fernández-Lázaro, D., Fernandez-Lazaro, C. I., Seco-Calvo, J., Garrosa, E., Adams, D. P., & Mielgo-Ayuso, J. (2022). Effects of Tribulus terrestris L. on Sport and Health Biomarkers in Physically Active Adult Males: A Systematic Review. International journal of environmental research and public health, 19(15), 9533. https://doi.org/10.3390/ijerph19159533 [4] Lopresti, A. L., Drummond, P. D., & Smith, S. J. (2019). A Randomized, Double-Blind, Placebo-Controlled, Crossover Study Examining the Hormonal and Vitality Effects of Ashwagandha ( Withania somnifera) in Aging, Overweight Males. American journal of men’s health, 13(2), 1557988319835985. https://doi.org/10.1177/1557988319835985 [5] Wankhede, S., Mohan, V., & Thakurdesai, P. (2016). Beneficial effects of fenugreek glycoside supplementation in male subjects during resistance training: A randomized controlled pilot study. Journal of sport and health science, 5(2), 176–182. https://doi.org/10.1016/j.jshs.2014.09.005 [6] Leisegang, K., Finelli, R., Sikka, S. C., & Panner Selvam, M. K. (2022). Eurycoma longifolia (Jack) Improves Serum Total Testosterone in Men: A Systematic Review and Meta-Analysis of Clinical Trials. Medicina (Kaunas, Lithuania), 58(8), 1047. https://doi.org/10.3390/medicina58081047 |