Mike Figliuolo's Blog, page 2

Understanding Players and Positions in Negotiation

Understanding the players and their positions is going to help you look at how they’re coming at the deal and the points you should either push on or be willing to concede.

Having a good knowledge of the players and the positions they are going to take in any negotiation is going to set you up for success. There are four things you should consider about your opponent.

First, who’s involved in the negotiation and who ultimately makes the deal? 

Read the rest of this post at thoughtLEADERS, LLC: Leadership Training for the Real World.

When Innovation Talk Turns Toxic

Innovation thrives on meaning, but superficial innovation talk can lead to stress and fatigue, and thus less creativity, in a company culture.

Today’s post is by Alf Rehn, author of Innovation for the Fatigued. This is an archived post, originally published in 2020.

It is common knowledge that talking the talk is easier than walking the walk. What we still tend to miss is that sometimes, the talk can actually hinder the walk, and in my research I’ve found that this holds particularly true in the field of corporate innovation.

Read the rest of this post at thoughtLEADERS, LLC: Leadership Training for the Real World.

What does the term “executive presence” mean to you?

Our reader poll today asks: What does the term “executive presence” mean to you?

The person is a polished presenter who speaks with confidence – 15%
The person is a natural leader whom people gravitate toward – 52%
The person builds consensus and overcomes conflict easily – 16%
The person dresses well and projects a sense of status – 9%
Something else – 7%

Presence means gravitas.

Read the rest of this post at thoughtLEADERS, LLC: Leadership Training for the Real World.

Setting Up for Future Deals When Negotiating

 

Thinking through multiple deals and the sequence of those events can help you drive a lot more value out of your negotiations.

When you go through any negotiation process, you have to realize that this deal sets up future deals. Consider this negotiation’s impact on future negotiations. If you don’t, you potentially can make some huge mistakes. Every deal sets precedent for the next one in terms of the numbers, the terms you come to, as well as the tone of that negotiation.

Read the rest of this post at thoughtLEADERS, LLC: Leadership Training for the Real World.

Business Execution Lessons from the Kitchen

Today’s post is by Patrick Stroh, author of Business Strategy; Plan, Execute, Win! This is an archived post that was originally published in 2014.

After 20 plus years of life in corporate America, it was time for a bit of a sabbatical. Or maybe better said, it was time to knock some stuff off my bucket list. You know, that list of things that we’ve always said we’ll do someday, but “someday” gets further and further away and our life gets busier and busier and we just don’t seem to have the time, even though we know they are important endeavors.

Read the rest of this post at thoughtLEADERS, LLC: Leadership Training for the Real World.

What’s the most common reason someone on your team doesn’t get promoted?

Our reader poll today asks: What’s the most common reason someone on your team doesn’t get promoted?

There are no openings for them to fill – 58% Someone else gets the role – 11%They lack the skills to perform the role – 18%They have the skills but lack experience in similar roles – 3%They interview poorly – 3%Something else – 8%

Nowhere to go.

Read the rest of this post at thoughtLEADERS, LLC: Leadership Training for the Real World.

Changing your Approach in a Negotiation

Be willing to change your approach in a negotiation, but only do so when you fully understand the benefits and the risks of doing so.

During a negotiation, you can change your approach. You don’t have to maintain your initial approach or your initial position. You can change it at any time. Your opponent won’t maintain their approach or their position, so along the way, throughout the deal, determine your counteroffers and your approach and how it might change and how those changes might benefit your position.

Read the rest of this post at thoughtLEADERS, LLC: Leadership Training for the Real World.

Increase Diversity by Focusing on Talent

 

In staffing a new facility, by emphasizing talent rather than experience, we eliminated a major barrier to employment and increased our diversity. Can you take the same approach and have the same impact on your organization?

Today’s post is by Larry Sternberg, co-author of Managing to Make a Difference. This is an archived post, originally published in 2017.

Despite research concluding that experience is a poor predictor of professional success(1), in too many situations, organizations designate experience as an absolute “must have,” a ticket to admission, in the hiring process.

Read the rest of this post at thoughtLEADERS, LLC: Leadership Training for the Real World.

When you get a day off, how do you prefer to spend it?

Our reader poll today asks: When you get a day off, how do you prefer to spend it?

Catching up on personal projects and errands – 54%Resting and not doing much of anything – 30%Attending events with friends and family – 12%Doing volunteer work – 1%Something else – 4%

Taking care of (your own) business.

Read the rest of this post at thoughtLEADERS, LLC: Leadership Training for the Real World.

How to Assess What Happened in a Negotiation

Reflect on your negotiations to improve your performance in future rounds.

Throughout a negotiation, you should be assessing what’s happening. Track major negotiating points over time. See what’s a plus or a minus versus the last round of negotiations. If you go back to your initial goals and what the other party’s initial goals were, their must-haves, want-to-haves, nice-to-haves, and also evaluate it for your end, you can track where you’re making concessions over time.

Read the rest of this post at thoughtLEADERS, LLC: Leadership Training for the Real World.