The Laws of Negotiating By Brian Tracy

The Laws of Negotiating

By Brian Tracy

The Laws of Negotiating are closely related to economics. They are part and parcel of the same process. Both economics and negotiating are based on the fact that each person places different values on different things. Everyone behaves economically in the sense that they always strive to negotiate the very best situation or result for themselves in each situation.

The Universal Law of Negotiating

Everything is negotiable. All prices and terms are set by someone. They can therefore be changed by someone. Prices are a best-guess estimate of what the customer will pay. The cost of manufacturing and marketing a particular product or service often has very little to do with the price that is put on it. Don't be intimidated by written prices, assume that they are written in pencil and can be easily erased and replaced with something more favorable to you. The key is to ask.

The Law of Futurity

The purpose of negotiation is to enter into an agreement such that both parties have their needs satisfied and are motivated to fulfill their agreements and enter into further negotiations with the same party in the future.

The Law of Win-Win or No Deal

In a successful negotiation, both parties should be fully satisfied with the result and feel that they have each "won" or no deal should be made at all. When you are determined to achieve a win-win solution to a negotiation, and you are open, receptive, and flexible in your discussions, you will often discover a third alternative that neither party had considered initially but that is superior to what either of you might have though of on your own.

The Law of Unlimited Possibilities

You can always get a better deal if you know how. You never need to settle for less or feel dissatisfied with the result of any negotiation. If you want a better deal, ask for it. You will be quite astonished at the better deals you will get by simply asking for a lower price if you're buying and asking for a higher price if you're selling.

The Law of Timing

Timing is everything in a negotiation. Whenever possible, you must plan strategically and use the timing of the negotiation to your advantage. If you are in a hurry to close a deal, your ability to negotiate well on your own behalf diminishes dramatically. The person who allows himself or herself to be rushed will bet the worst bargain. You resolve 80 percent of the vital issues of any negotiation in the last 20 percent of the time allocated for the negotiation.

The Law of Terms

The terms of payment can be more important than the price in a negotiation. You can agree to almost any price if you can decide the terms. It is important to never accept the first offer no matter how good it sounds. Act a little disappointed when you hear the first offer, and then ask for time to think about it. Realize that no matter how good the first offer is, it usually means that you can get an even better deal if you are patient.

Action Exercise

Whenever possible, talk to someone who has negotiated the same sort of deal with the same person. Find out what the other person is likely to want and what he or she has agreed to in the past. Forewarned is forearmed!

Negotiation Skills in Sales

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Brian Tracy On Organizing Your Time

TIME MANAGEMENT

One day an expert In time management was speaking to a group of business students and, to drive home a point, used an illustration those students will never forget.

As he stood in front of the group of high powered overachievers he said, “Okay, time for a quiz”. Then he pulled out a one-gallon wide mouth jar and set it on the table in front of him. He then produced about a dozen fist sized rocks and carefully placed them, one at a time, into the jar. When the jar was filled to the top and no more rocks would fit inside, he asked, “Is this jar full”? Every one in the class said, “Yes”. The expert said “really”

He reached under the table and pulled out a bucket of gravel. Then he dumped some gravel in and shook the jar causing pieces of gravel to work themselves down into the space between the big rocks. He asked the group once more, “is the jar full?” By this time the class was on him. “probably not”. One of them answered.

“Good” he replied. HE reached under the table and brought out a bucket of sand. He started dumping the sand in the Jar and it went into all of the spaces left between the rocks & and the gravel. Once more he asked the Question, “Is this jar full?’. “No!” the class shouted. Once again he said “good”.

Then he grabbed a pitcher of water and began to pour it in until the jar was filled to the brim. Then he looked at the class and asked “What is the point of this illustration”? One eager beaver raised his hand and said, “The point is, no matter how full schedule is, if you try really hard you can always fit some more things in it”.

“No”, the speaker replied, “that’s not the point. The truth this illustration teaches us is: If you don’t put the big rocks in first, you’ll never get them in at all.”

What are the “Big Rocks” in your life?. Your children…. Your Loved ones….. Education….. Your dreams….. A worthy cause… Teaching or mentoring others….. Doing things that you love…. Time for your self….. Your health ……. Your significant other….

Remember to put these BIG ROCKS in first or you’all never get them in at all. If you sweat the little stuff (the gravel, the sand) then you’all fill your life with little things you worry about that don’t really matter, and you’all never have the real quality time you need to spend on the big important stuff (the big rocks)

Ask your self this question : ‘What are the ‘big rocks’ in my life? Then, put those in your jar first.

Source : Brian Tracy.com

5 Keys to Successful Seminar Promotion - By Jenny Hamby

You've booked a hotel meeting room and picked a seminar topic. Then it hits you: You have a lot of money on the line ... and no idea how to fill the seminar seats. Use these five tips to get started on the path of successful seminar promotion.

1. Target your best prospects.
The world is a big place, and you probably can't afford to reach everyone who could benefit from your seminar even once, much less multiple times.

To maximize your investment of time, money and creativity, identify the prospects who are most likely to benefit from -- and pay to attend -- your seminar. If you want to promote your event to several audiences, that's fine. Just be sure to invest the most attention marketing to your ideal prospects.

You may find that your event offers dozens of benefits to a wide variety of people. In this case, identifying your ideal prospects can make it easier to craft your message. Rather than trying to be everything to everyone, create promotional materials that speak to your ideal prospects. For example, your personal growth seminar could, technically, benefit every person you meet. But you might find that women over age 50 are your best candidates; address their needs, desires and concerns in your marketing materials.

2. Identify what your prospects are seeking.
Then make sure that your marketing message matches what they want. The better you're able to match your seminar content and description to what prospects want, the better your chances of filling seats.

You may find that your seminar is something that prospects should want; as the expert, you know that it delivers the ideal solution. Unfortunately, your prospects aren't aware that your training is what they want or need. They simply don't know what they don't know. Telling prospects about the core benefits of your event won't resonate, because they are actively looking for a different, perhaps secondary, benefit.

In this case, you need to meet prospects where they are and then show them why your seminar is the solution with the greatest potential. Figure out what frustrations your audience is having, what worries keep them up at night, and what goals they are pursuing. Use these concepts to create a powerful headline and introduction that captures their attention. Then use the rest of your sales letter or promotional message to show prospects how your seminar will help them -- and why they should register.

For example, let's say that your seminar will help participants heal emotional wounds from childhood. That promise would appeal to people who recognize that they have old emotional wounds and are actively seeking a way to heal. But people who don't have the awareness or desire to heal the past will be oblivious to your message.

One of the primary benefits of your training might be that by healing your old emotional wounds, you're able to become a better parent. If parents are one of your ideal groups of prospects, you could develop a marketing campaign around one of their top problems or their goal of becoming a better parent. By incorporating into your promotions the promise that they'll be able to better parent their children after participating in your seminar, you'll be able to more easily capture this group's attention and convince them that your event is relevant.

3. Contact prospects multiple times ... and in multiple ways.
Your prospects are bombarded with thousands of promotional messages each day. To stand out enough to attract attention and generate registrations, you can't make the mistake of sending out a promotion or two. Many promoters have done so in the past ... and then been puzzled and terribly disappointed when registrations numbers were low.

Instead, contact your prospects multiple times, including right up until your event. Also, use a variety of marketing tools. Although it's easy to rely on one type of promotion, such as email marketing, incorporating multiple media improves your chances of connecting with any particular individual.

For example, some prospects rarely read promotional emails. If you're using email blasts to fill your seminars, they will be ignored by this segment of your audience -- no matter how well they are written. Sending a direct mail letter or postcard allows you to reach out and touch email-avoiding prospects. As an added bonus, fewer promoters use direct mail, because it is more costly and complex to incorporate into your marketing mix. By using it, you'll stand out -- there is less competition in the mailbox than in the inbox.

4. Use enough marketing copy to make the sale.
One of the most common mistakes speakers, trainers and coaches make is to use marketing copy that is too brief and generalized. They think that the copy gives an accurate and clear description of what the event will deliver; however, they're too close to the material to see that the description isn't adequate. As a result, the message doesn't connect with the audience, and registration numbers stay low.

The most critical and often overlooked sections of copy include what you'll learn, who should attend, and how you'll benefit. The more detailed these sections are, the more compelling your copy will be. Prospects will be able to rapidly recognize their need for your program. And they'll quickly recognize that your seminar will be a smart investment of their time and money.

If you're writing your own marketing copy, be sure to have at least a few other people review your work. Ideally, you'll get input from members of your target audience. At the very least, request feedback from people who aren't familiar with your event. Ask for their honest input about where they get confused or disinterested, as well as what remaining questions or objections would prevent them from signing up.

5. Ask for help promoting your seminar.
The best source of prospective attendees for your seminars is your own database. But if your mailing list is small, your seminar marketing results will be limited. At some point, marketing becomes a numbers game; you have to reach more people to see the registration numbers you want.

One of the best ways to reach more people is to enlist the help of other companies or individuals. Seek out colleagues who already have relationships with your target audience, and ask them to be your affiliate. Offer them a commission for every person from their database who registers for your event. Or, if they are unable or unwilling to accept a commission, offer their subscribers a discount or an added bonus as incentive to help promote your event.

For the greatest impact with affiliate marketing, be prepared to give your affiliates the marketing materials they need to promote your event. Examples include email copy, banner ads, an online sales letter and an article to be included in their newsletter or posted to their blog. Also suggest a promotional schedule for your affiliates to follow, and follow up regularly to ensure that they are promoting your event as promised.

Promoting your own seminars and workshops can be a risky and nerve-wracking adventure, but also one that is profoundly rewarding. Use these five keys to create a solid foundation for your marketing program ... then keep going. The ways you can promote your events are limited only by your imagination.

About the Author:
Jenny Hamby is a Certified Guerrilla Marketer and direct-response copywriter who helps speakers, coaches and consultants fill seminar seats and make more money from their own seminars and workshops. Her on- and offline direct marketing campaigns have netted response rates as high as 84 percent -- on budgets as small as $125. For more free seminar marketing secrets, visit http://www.SeminarPromotionTips.com.

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