Negotiating is a near-daily part of life for a small business owner.
In any given week, you might be negotiating with a job candidate you
hope to land, a retailer you hope will carry your product or another
entrepreneur with whom you hope to form a strategic partnership.
In short, negotiating is essential to small business success. But if
you’re negotiating with someone you hope to create a lasting
relationship with—whether that’s a client, a vendor or another business
owner—you can’t negotiate solely with an eye to what you want out of the
deal. You have to consider the other person’s interests, too, so
they’ll want to keep doing business with you. Here are some tips to help
you create “win-win” negotiations that leave everybody happy.
Before the negotiation….
Start by figuring out what you want. What’s your ideal result?
Next, consider what you’re willing to be flexible on and what is
non-negotiable. Maybe you can accept a lower price for your service, for
example, in exchange for better terms or faster payment. Never enter
into negotiation without considering what you are and are not willing to
give up.
Think through as many possible outcomes as you can. The better
you know the person or people you’re negotiating with, the easier this
will be because you will know their attitudes, history and goals better
than if you’re dealing with someone you’ve never negotiated with before.
Try to envision what might happen, what objections the other party may
have and what offers or counter-offers they may make.
Decide what your options are. If you can’t come to an agreement
that is satisfactory to both of you, what options do you have? Can you
regroup and schedule a future negotiation at a later date? Do you have
the power to force the other party to accept your terms? Even if you can
do this, what will the effect be on your future relationship?
During the negotiation…
Listen more than you talk. Often, we’re so busy planning our next
move or what we’re going to say next that we don’t listen to the other
person. This is especially common in stressful situations like
negotiation. Make it a point to actually listen to the other person and
consider what they are saying instead of rushing in with a response.
Be polite. Never let the other party force you to lose your cool.
If you feel you can’t continue in a productive fashion, see if you can
table the negotiation and continue at another time. Never give up more
than you want to just to “get it over with” or because you’re worn down
and tired.
Trust, but verify. Misunderstandings can easily arise during a
negotiation. Make sure someone is taking notes or otherwise recording
decisions. At the end of the negotiation, clarify the decisions made and
any next steps. As soon as possible after the negotiation, put the
agreement in writing.
Marketing plan series part 4
A common form of marketing plans
The composition of the marketing plan usually consists of:
1. General review of business performance (executive summary)
The review generally consists of:
- Data on annual sales revenue, for example ranging from 5 years ago to the present and projected next 5 years, broken down by product, unit price, the percentage increase and decline.
- Comments on the increase and decrease in sales in general.
2. Market Analysis
In this section discusses:
- General market analysis.
analysis of competitors’ sales.
own market share analysis and competitor.
analysis on market changes and their effects.
- Discussion of new products entering the market.
special reviews of new product sales
review of long products
analysis of strengths and weaknesses of each product
customer comments and distributors
3. The main problems and opportunities
- The main problems that exist and are expected to exist.
- Opportunities available now and expected.
4. Important issues
5. Determination of business objectives
- Strategic business objectives
- Operational business objectives
6. Determination of the main marketing strategy
- The target customer
- Target competitors
- The core strategy of marketing
7. The establishment of an integrated marketing and scheduling policies
-Promotion policies, pricing policies, advertising policies, the policy of product packaging, product development policy, human resource policy, distribution policy, policy research, policy experiments specific product.
8. Alternative plan
9. Evaluation techniques
The composition of the marketing plan usually consists of:
1. General review of business performance (executive summary)
The review generally consists of:
- Data on annual sales revenue, for example ranging from 5 years ago to the present and projected next 5 years, broken down by product, unit price, the percentage increase and decline.
- Comments on the increase and decrease in sales in general.
2. Market Analysis
In this section discusses:
- General market analysis.
analysis of competitors’ sales.
own market share analysis and competitor.
analysis on market changes and their effects.
- Discussion of new products entering the market.
special reviews of new product sales
review of long products
analysis of strengths and weaknesses of each product
customer comments and distributors
3. The main problems and opportunities
- The main problems that exist and are expected to exist.
- Opportunities available now and expected.
4. Important issues
5. Determination of business objectives
- Strategic business objectives
- Operational business objectives
6. Determination of the main marketing strategy
- The target customer
- Target competitors
- The core strategy of marketing
7. The establishment of an integrated marketing and scheduling policies
-Promotion policies, pricing policies, advertising policies, the policy of product packaging, product development policy, human resource policy, distribution policy, policy research, policy experiments specific product.
8. Alternative plan
9. Evaluation techniques
Marketing plan series part 3
What should be prepared as a support for supporting the process of making a marketing plan?
There are some initial activities that should be done to keep things running smoothly and complete.
1. Data collection
Marketing plan will not be good if we do not prepare in advance all relevant data in its business activities.
Typically, data that must be present are:
- Balance sheet losses / gains of business ranging from 5 years ago to the present and projected business next 5 years along with the percentage increase and decrease from time to time. This data was obtained from the company itself.
- Data on total market volume and a list of competitors with all their products are similar with our company’s products.
- Competitors’ sales volume, market share, their activities in promotion and marketing of the following strengths and weaknesses.
- List of important events in the past and will come in the economic, political and others.
- List of new competitors into the competition with his own company.
- Database of customer comment on all marketing activities for materials that have to be corrected.
2. Make a list of problems and opportunities.
- Make a list of problems related to product and company today and the possibility of developing these problems in the future.
- Make a list of opportunities or opportunities that exist now and likely to be developed in the future.
- Make a list of urgent matters that affect the smooth marketing.
3. Set business goals
- Set a long-term business objectives carefully.
- Set the medium-term business goals and short-term.
4. Define the main target marketing
- Establish the objectives the main users of your product.
- Specify the target where the competitors will try captured market share.
- Specify the core strategy of marketing.
5. Plan for integrated marketing activities and work schedules.
- Create ideas and advertising schedule and cost plan.
- Make a plan of promotional activities and its plan costs.
- Create analysis of your products and competitors’ prices in order to establish a new pricing policy.
- Make an analysis on the influence of product packaging, or packaging of products that will be created as well as make comparisons with competitors’ products.
- Make an analysis of activity and performance of existing distributors concerning sales activity by product.
- Specify the need for research and development to seek input on product, sales and promotions aktirfitas comments along with the plan costs.
There are some initial activities that should be done to keep things running smoothly and complete.
1. Data collection
Marketing plan will not be good if we do not prepare in advance all relevant data in its business activities.
Typically, data that must be present are:
- Balance sheet losses / gains of business ranging from 5 years ago to the present and projected business next 5 years along with the percentage increase and decrease from time to time. This data was obtained from the company itself.
- Data on total market volume and a list of competitors with all their products are similar with our company’s products.
- Competitors’ sales volume, market share, their activities in promotion and marketing of the following strengths and weaknesses.
- List of important events in the past and will come in the economic, political and others.
- List of new competitors into the competition with his own company.
- Database of customer comment on all marketing activities for materials that have to be corrected.
2. Make a list of problems and opportunities.
- Make a list of problems related to product and company today and the possibility of developing these problems in the future.
- Make a list of opportunities or opportunities that exist now and likely to be developed in the future.
- Make a list of urgent matters that affect the smooth marketing.
3. Set business goals
- Set a long-term business objectives carefully.
- Set the medium-term business goals and short-term.
4. Define the main target marketing
- Establish the objectives the main users of your product.
- Specify the target where the competitors will try captured market share.
- Specify the core strategy of marketing.
5. Plan for integrated marketing activities and work schedules.
- Create ideas and advertising schedule and cost plan.
- Make a plan of promotional activities and its plan costs.
- Create analysis of your products and competitors’ prices in order to establish a new pricing policy.
- Make an analysis on the influence of product packaging, or packaging of products that will be created as well as make comparisons with competitors’ products.
- Make an analysis of activity and performance of existing distributors concerning sales activity by product.
- Specify the need for research and development to seek input on product, sales and promotions aktirfitas comments along with the plan costs.
Marketing plan series part 2
Who is concerned in the process of marketing plan?
The process of making a marketing plan involving all levels of staff in the company. So not true when only given to those marketing people only. In fact, all work units to the highest levels of the company must be involved, so they can produce a marketing plan on time and be able to sharpen the marketing behavior of firms in existing markets. In the process of making a marketing plan, known as a top-down process, ie setting the direction and the target company from top management to marketing plans are translated into a unit by unit underneath.
Apart from top down, bottom-up process is also known, namely the implementation of the business objectives of the unit within the company and submitted to the supervisor for examination and approval. In this process, employees are given the flexibility to maximize the experience and ability in preparing marketing plans.
Most companies use a combination of both to consider the desire for corporate leaders toward a target, so the whole to support the business objectives and aligned with their program in marketing plan and based on mutual consent.
The selection system is highly dependent on the maturity of the perpetrators of the business units as well as the size of the company.
Marketing plans can be good if everyone involved comply with and discipline to what is already established and carry it out so that what is conceived to be true was expected.
Marketing plan should be developed by each unit of the smallest territories in the marketing department, even a salesman should have mastered the process of making a marketing plan for the area which it is responsible. Therefore, this article is useful for all personnel involved in sales activities.
The process of making a marketing plan involving all levels of staff in the company. So not true when only given to those marketing people only. In fact, all work units to the highest levels of the company must be involved, so they can produce a marketing plan on time and be able to sharpen the marketing behavior of firms in existing markets. In the process of making a marketing plan, known as a top-down process, ie setting the direction and the target company from top management to marketing plans are translated into a unit by unit underneath.
Apart from top down, bottom-up process is also known, namely the implementation of the business objectives of the unit within the company and submitted to the supervisor for examination and approval. In this process, employees are given the flexibility to maximize the experience and ability in preparing marketing plans.
Most companies use a combination of both to consider the desire for corporate leaders toward a target, so the whole to support the business objectives and aligned with their program in marketing plan and based on mutual consent.
The selection system is highly dependent on the maturity of the perpetrators of the business units as well as the size of the company.
Marketing plans can be good if everyone involved comply with and discipline to what is already established and carry it out so that what is conceived to be true was expected.
Marketing plan should be developed by each unit of the smallest territories in the marketing department, even a salesman should have mastered the process of making a marketing plan for the area which it is responsible. Therefore, this article is useful for all personnel involved in sales activities.
Marketing plan series part 1
My experience in the business world shows that many companies ignore
making a good marketing plan and really could be applied. Most of them
think that without a detailed marketing plan, they could sell their
products well. At a certain point, when facing various difficulties in
evaluating sales, forecasting, competing with other products, then they
realize the importance of marketing plans.
These articles (a series of marketing plan articles) is written for everyone and part of a company that wants to make an improvement must be able to identify the advantages, disadvantages, and issues clearly to their company, company must make a good marketing plan and can be applied. A good marketing plan and fully capable can reflect the mobilization of the entire company, so the company can plan the provision of financial support and other necessary things.
I accidentally entered some of the theories from marketing experts that can enrich our insight, and who knows the theory can bemodified to your company’s interests.
The growing era of global trade and competition among companies become increasingly tight and sharp, every company has to enhance the competitiveness of companies by making an accurate marketing plan, efficient, effective and strategic. It is increasingly apparent prosecuted because of declining economic conditions in this country which results in lower purchasing power – people more think more thoroughly and careful in spending their money.
This article series presents a marketing plan step by step process of developing the perfect marketing plan based on experience. By reading this article, company officials are expected to gather feedback and insights that can support them in their policy and steps to maintain and if possible to develop products or services they offer.
These articles (a series of marketing plan articles) is written for everyone and part of a company that wants to make an improvement must be able to identify the advantages, disadvantages, and issues clearly to their company, company must make a good marketing plan and can be applied. A good marketing plan and fully capable can reflect the mobilization of the entire company, so the company can plan the provision of financial support and other necessary things.
I accidentally entered some of the theories from marketing experts that can enrich our insight, and who knows the theory can bemodified to your company’s interests.
The growing era of global trade and competition among companies become increasingly tight and sharp, every company has to enhance the competitiveness of companies by making an accurate marketing plan, efficient, effective and strategic. It is increasingly apparent prosecuted because of declining economic conditions in this country which results in lower purchasing power – people more think more thoroughly and careful in spending their money.
This article series presents a marketing plan step by step process of developing the perfect marketing plan based on experience. By reading this article, company officials are expected to gather feedback and insights that can support them in their policy and steps to maintain and if possible to develop products or services they offer.
What’s Your 2015 Growth Strategy?
Are you ready to grow your small business in 2015? I’m glad to report
that most small business owners feel the same way. A whopping 87
percent of privately held companies with sales under $5 million have
growth strategies planned for 2015, reports the recently released 2015
Pepperdine Private Capital Markets Project (PPCMP) Survey.
In addition to being optimistic about their own growth strategy, most business owners are optimistic about the economic outlook in general. Nearly two-thirds (65 percent) believe that growth opportunities for business will increase over the next 12 months, and more than one-third (35 percent) think that general business conditions will improve over the next year.
But while small businesses are eager to grow, those with sales under $5 million have fewer resources in terms of people and money to do so. Just 46 percent say have the resources they need to execute their growth plans, compared to 66 percent of businesses with sales over $5 million. Perhaps that’s one reason why more than half of the businesses surveyed (53 percent) plan to hire additional workers in the next 12 months.
What skills and experience are business owners looking for in their new employees? The biggest need is for sales and marketing skills (57 percent of entrepreneurs are seeking these) followed by skilled labor (45 percent) and customer service (36 percent).
Of course, there are still plenty of businesses not planning to hire. Among these, 51 percent say “economic uncertainty” is the number-one reason they’re holding back.
Small business owners also seem to be holding back from seeking financing. Of those who did seek financing in the past year, nearly half (47 percent) wanted less than $100,000 in capital. For those who did seek financing, bank loans were the number-one source they approached, followed by grants and credit unions. The success rate of those seeking bank loans was respectable, with 69 percent saying they obtained the capital they needed after approaching an average of 2.4 financing sources.
Is a lack of capital or staff holding you back from achieving your business goals? Putting your dreams on hold isn’t the only choice. Here are some options to consider:
Can you use freelancers, outside contractors or temporary workers to staff up and down as needed, cutting your overhead costs compared to hiring employees?
Can you partner with another small business to achieve your goals, such as by sharing salespeople or manufacturing facilities to launch a new product line?
Can you barter with other businesses or join a barter association in order to get the products and services you need without a large cash outlay?
If you’ve got growth plans for your business this year that you can’t achieve with your current level of capital, now is the time to seek the financing you need to achieve your goals. You’ll never know until you try!
In addition to being optimistic about their own growth strategy, most business owners are optimistic about the economic outlook in general. Nearly two-thirds (65 percent) believe that growth opportunities for business will increase over the next 12 months, and more than one-third (35 percent) think that general business conditions will improve over the next year.
But while small businesses are eager to grow, those with sales under $5 million have fewer resources in terms of people and money to do so. Just 46 percent say have the resources they need to execute their growth plans, compared to 66 percent of businesses with sales over $5 million. Perhaps that’s one reason why more than half of the businesses surveyed (53 percent) plan to hire additional workers in the next 12 months.
What skills and experience are business owners looking for in their new employees? The biggest need is for sales and marketing skills (57 percent of entrepreneurs are seeking these) followed by skilled labor (45 percent) and customer service (36 percent).
Of course, there are still plenty of businesses not planning to hire. Among these, 51 percent say “economic uncertainty” is the number-one reason they’re holding back.
Small business owners also seem to be holding back from seeking financing. Of those who did seek financing in the past year, nearly half (47 percent) wanted less than $100,000 in capital. For those who did seek financing, bank loans were the number-one source they approached, followed by grants and credit unions. The success rate of those seeking bank loans was respectable, with 69 percent saying they obtained the capital they needed after approaching an average of 2.4 financing sources.
Is a lack of capital or staff holding you back from achieving your business goals? Putting your dreams on hold isn’t the only choice. Here are some options to consider:
Can you use freelancers, outside contractors or temporary workers to staff up and down as needed, cutting your overhead costs compared to hiring employees?
Can you partner with another small business to achieve your goals, such as by sharing salespeople or manufacturing facilities to launch a new product line?
Can you barter with other businesses or join a barter association in order to get the products and services you need without a large cash outlay?
If you’ve got growth plans for your business this year that you can’t achieve with your current level of capital, now is the time to seek the financing you need to achieve your goals. You’ll never know until you try!
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