If you’re in business, there’s a good chance that you will need to negotiate at some point. You might negotiate every day with clients during the sales process, or with vendors in trying to reach a price on raw material. Or, you might negotiate with these parties only occasionally. It might be as infrequent as a negotiation on a delinquent bill.

Whether you’re negotiating daily or occasionally, the key to success in negotiation is knowledge. Before you enter any negotiation, make sure you’ve mastered these areas:

1. Knowledge of the industry. By knowing about the industry you’re working in, you’ll be confident with prices that your competitors are charging. No prospect will be able to blindside you with "I’m going to go to your competitor if you don’t cut your price" if you know that you are the best price. Or, if your competitor does offer a lower price, but you offer better value, you can counter their objection.

2. Knowledge of trends. When you know the trends that are taking place, you’ll have the big picture view. Economic trends are a good example: If you know that the economy is about to improve, and your vendor’s prices will probably go up because more people are buying, you should buy and lock in now, negotiating hard for the lowest price. But there are other trends, too: Consumer attitudes; technological advancements; even political trends can impact your business down the road and thus should impact your negotiating today. Read up on trends by trend experts (Google "futurists" or "trend predictions" to get started).

3. Knowledge of customers. Knowing your customer really, really well will help you in both your customer-side negotiations and your vendor-side negotiations. What are your customers using your product or service for? What will they likely use it for in the future? How are consumer attitudes shifting? What opportunities does this present for you? Create a profile of your customer and modify it as you gain additional information.

4. Knowledge of the other side. This is one of the best ways to get your preferred result from a negotiation. The parties that you’re negotiating with have their own agendas, motivations, and ideal outcomes. When you know these, you can work the negotiation in your own favor. There is an excellent blog post about this on the blog The Customer Collective. In the blog post "Hidden Needs Drives Sales Negotiations", Dr. Jim Anderson outlines some of the important facts you MUST know about the person sitting across the negotiating table from you in order to improve the negotiation outcome for yourself. (Read the blog here).

It’s likely that the most successful negotiations you have will not come from great negotiating skill but rather from the knowledge you’ve collected. When you sit down to negotiate, the more power you have the more effective your negotiation will be.

Brought to by you by: Contemporary VA - Run your business instead of running in circles.

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Henry Ford’s real innovation was not the car. There were lots of people who were experimenting with the concept of "horseless carriages" at the time and inventors were trying to create small fuel-powered engines (compared to the large coal-powered ones that ran locomotives).

Henry Ford’s real innovation was a system. It was the ability to make a car quickly. Previously, wagons and carriages were made by a "carriage works" company where a team of builders would custom-construct a carriage for the owner. It was only natural when cars came along that carriage works companies would continue that same work on the horseless version.

But Ford created a system in which a few people, doing the same jobs over and over could mass produce high quality, inexpensive cars. It worked and Ford became the father of the American automotive industry.

There are other companies who have been successful by creating systems: McDonald’s Restaurant has turned everything into a system. You cook the fries for so many seconds. You flip the burgers so many times. You put the mustard and ketchup and onions on in a very specific pattern. It’s no surprise that we see McDonald’s Restaurants everywhere.

Wal-Mart, too, is all about systems. As consumers we don’t see it as much because we shop their at our own leisurely pace but, behind the scenes, a complex system of ordering and stocking shelves has turned the company into a supply chain system superstar.

If you look at any successful firm, whether it’s a corporate model or a franchise, has focused on developing systems. Your business will succeed when you focus on systems, too. Systems help to automate the things you do. Now, when I say "automate" it doesn’t necessarily mean that everything is done automatically for you. However, it does mean that you don’t have to think consciously about what to do next. Having a list pinned to your wall that is the step-by-step marketing system you use to find new leads, you’ve automated it because all you need to do is refer to the list, and do the next thing on it. (Eventually you can use software or employees to do some of those steps for you, but for now simply having the list will make a huge difference).

So, how do you create systems?

First, identify the various processes and procedures you use in your business: Marketing, sales, order fulfillment, customer follow-up, new product development, and more. Each one of these is a potential system.

Second, figure out what works. List the steps.

Third, create measurable goals around each step. (For example, if you create a system for your work on Twitter, you might include "Follow 10 people" as one step in your system).

Fourth, implement your system and succeed by doing the same thing over and over and over and over (and over and over, etc.).

You might not aspire to be the next Ford or McDonald’s or Wal-Mart, but even successful small businesses use systems and you’ll save money and time and run a more efficient company when you use systems.

Brought to by you by: Contemporary VA - Run your business instead of running in circles.

@ContemporaryVA on Twitter.  Follow the team to stay updated on business resources we deliver that cover strategies and tips, social media and more!

From time to time, BestBusinessExperts will feature a business that we think has got it together like the cool kid in school. We’ll give our thoughts, and maybe some suggestions for implementing the lessons in your business, but don’t miss our two disclaimers: #1) Every business is different and you will need to adapt rather than adopt. And, #2) These are opinions only and we are not affiliated with the businesses we feature here, nor do we benefit from this feature.

Today’s Brilliant Business: 1-800-Got-Junk.

The short story: If you have garbage, you call them up and they will haul it away. Like an on-call garbage truck.

The differentiator: Unlike the sweaty, dirty, perennially angry municipal workers who throw my empty garbage cans back into my driveway with enough force to wake the dead, the Got Junk team are clean and professional and uber-helpful.

Their strengths, and how your company can adapt these principles:

1. They fill a need – people who need stuff hauled away but have too much for (or don’t want to wait until) garbage day, and who don’t want to load it themselves into a friend’s truck. Examine the niche market you serve. Are you really hitting a need or are you suffering from the "same-as" syndrome. If you look exactly like your competitors, your success will be diminished.
2. They have a brand that is loud and clear and simple to remember… and ubiquitous! It is easy to get a big, complicated brand that has a clever slogan and a vision statement and a mission statement and an elevator pitch and a USP, etc. These can be valuable. But they can also be too much. 1-800-GOT-JUNK says it all, just in its name.
3. Their website is incredibly easy to use and very engaging. (Visit the "Junk Genie" as a great example of an interactive engagement). How "sticky" is your site? Do you make it easy (and perhaps even entertaining) for your customers to click around? Can they get answers to their questions?
4. Their franchise model ensures that they expand sensibly without over-extending themselves. Do you have a growth plan for your business? How risky is it? Yes, franchising does mean that you give up some profits and some control, but it also means that you probably don’t have to over-extend yourself as you grow.
5. They are active in the communities they serve by cleaning up community spaces. Does your company have philanthropic activities that are related to what you do? The Got-Junk people do relatively little marketing and instead use their community involvement and word of mouth to do their speaking for them. This is a great example of giving back to "pay forward" into your business.

1-800-GOT-JUNK is a compelling business model with a clear value proposition, which makes it a great example of a Brilliant Business.

Contemporary VA

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Organizations are on a constant quest to understand themselves and the marketplace and how the two should relate. There are numerous tools and strategies that they can use to put them on the right path to success.

Business performance experts Kepner-Tregoe are strategic thinkers who have developed a list of 9 "driving forces" that influence a business. (In fact, DRIVING FORCE® is a registered trademark of Kepner-Tregoe and readers should visit this page on their site for an overview: http://www.kepner-tregoe.com/resolve/strategy-formulation.cfm).

These forces represent not only the focus of the business and the way they do business, but it can also inform how they approach future opportunities.

Their driving forces include:

• Products/Services Offered. Businesses that focus on products usually work within a specific line and rarely depart from it. Most products share similarities.
• Markets Served. Businesses that focus on serving specific markets might offer different products but all are aimed at the needs of the market.
• Low-cost production. When a business focuses on low cost production, it gains advantages through efficiency. Success might be seen not by raising prices but by lowering costs.
• Operations capability. Organizations that can create robust products or deliver robust services efficiently have this as their main focus. Note, while similar to low-cost production, operations capability has a greater focus on processes than on cost.
• Method of sale/distribution. Here, a unique and/or proven method of transacting or delivering to the client is what sets the business apart.
• Technology. Many businesses adopt technology in their practices but technology leaders fit into this category by creating and defining technology.
• Natural resources. As the name suggests, organizations that work with natural resources – as producers or distributors – will have this as their main focus.
• Return/profit. These are organizations that willingly switch from one business to another and from one industry to another, depending on where they see trends improving or declining.

Of course, this is just a brief overview and Kepner-Tregoe would go into far more detail. However, for many businesses, they just need a starting place that says "where are we now?" and "where are we going to go?". This analysis helps to answer both of those questions.

Businesses that can figure out what their main focus is from the above list can use that insight to help them decide what to do next. For example, if a business is driven by the market they serve, they may find that they should survey the market to discover what it is looking for and then fill that need. Or if a business is driven by its unique method of sale, it should avoid chasing other markets or exploring other products or services unless it can be transacted using that sales methodology.

These questions – "Where are we now?" and "Where are we going to go?" – are big questions and not easy to answer in an afternoon board meeting. But knowing the DRIVING FORCES® and using it to inspire the discussion can help businesses to start to answer these questions.

Contemporary VA

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** Lance Edwards is living proof of his mantra that you don’t have to "graduate" from single family to multifamily – you can start with multifamily; using none of your own money and not dealing with tenants and toilets.  For FREE information visit www.ApartmentWealthMachine.com **

Once you have made the decision to start doing multifamily property deals, you might find the whole process a little intimidating.  It does not need to be.  It is simply a matter of following your MAPS.  MAPS stand for Mindset Accountability Practice and Showing Up.

Your mindset can be your greatest asset or your greatest liability when it comes to putting together multifamily deals.  The linguistics you use are the most powerful lever you have on your mind.  For instance, if you think of yourself as a survivor, you are mentally relying on adversity to be successful.  

You can be a problem solver that thrives in spite of any challenge that comes along.  A problem solver is more empowering than the image of a survivor who is battling for existence.

Accountability will help to motivate you to accomplish the goals that you have set forth for yourself no matter how big or small they might be.  You need to decide what you are going to do and then tell someone of your next plan or step.  A commitment has then been made to someone and then when they have asked you if you have done what you committed to or not, you will be embarrassed to tell them no.   Pride and the fear of failure will keep you focused on your goals.

Practicing on how you will present your multifamily deals to potential investors will help you to overcome your fear of speaking to them.  Visualize a successful conversation where the investor wants to do the deal.  As you visual your call, try to experience the feeling of a successful call.  What will it would it sound like, feel like and smell like?  Try to incorporate all of your senses.

Imagine a successful call and get it into your subconscious.  Your subconscious does not know the difference between what is real and what is not real.  Once you have it tucked away in your subconscious, it will manifest and create the positive things before you do the call.  This will help drive you to make that call.  Fear can be a constructive and productive thing.

Showing Up is 80% of your success.  You may not have it all figured out by you are going to show up anyway.  You can make plans of course, but keep in mind that some of the best laid plans go out the window once the ball starts rolling.  Just show up.

Once you show up, everything else will change.  That is how things go in real estate.  If you do not show up for the multifamily deal, then someone else will and you get what is left behind.  Just remember that good things come to those who wait but only those things left behind by those who hustle!

So do not let the prospect of putting together your first multifamily deal overwhelm and intimidate you.  Use your Mindest Accountability Practice and Showing Up to encourage and empower you.  Your road to financial freedom has just begun!

Lance Edwards

Everywhere we turn there is new information about the recessing economy. Many analysts are now saying, though, that an upswing is not only inevitable, but it may come sooner than we expect.

What is the best way to take advantage of such an upswing? As boring as it may sound, keep doing what you’re doing!

If you are able to stay afloat during bad times by being a strong company with a strong concept, you will prosper during better economic times. For some companies, it will be better to alter some things. However, for most small business, it’s best to just keep going. If you must do something, try to increase your word of mouth advertising, because that is usually free. Check out Online Marketing Wizards for more information of ways to do this.

While it may seem counterintuitive to not change, it is a risky move to change at all. The truth is, if you’re staying afloat now, you must be doing something right. As a small business, you likely don’t have the resources to identify exactly what it is you are doing correctly and what is completely irrelevant. You don’t want to accidentally alter the thing that is allowing you to remain in business. As such, wait the upswing out, then change once things are back to normal.

If you are barely staying afloat during these bad times, you may be the exception to this rule. Perhaps you would do well to change some things, but perhaps not. Really analyze any decision you make, and be sure that you understand the full implications. After all, it is entirely possible to change the wrong thing, and doom your business. Barely surviving is better not surviving, in most cases.

Remember, we will consistently bring you the most recent, must-have information, so come back frequently. After all, we’re your Best Business Experts. You don’t want to miss what’s coming next.

Your Best Business Expert,

Lisa on behalf of Contemporary VA

www.contemporaryva.com

You don’t need me to tell you that it’s a rough market for businesses, both big and small. In fact, the last thing you want is for me to tell you. We can’t escape it; the news of the poor market conditions are everywhere. So, is there an escape? What do we do? We develop or redesign our strategic plans. Believe it or not, many small businesses (it might not be pushing it to say most, even) do not have a strategic plan. Generally, a business plan is what it takes to get started, and you’re off. Then, there isn’t time or a reason to draft one, right? Wrong! A strategic plan details…well, what does it detail? Any ideas? You guessed it, your strategy. A strategic plan identifies your goals, who you want to work with, what you want to provide to them, what the obstacles are, what advantages there are, and how you’re going to accopmlish your goals. Many people believe the best way to start is with a SWOT Analysis, and I agree. To do a SWOT Analysis, you take a look at the Strengths your company has, the Weaknesses of your company, the Opportunities that are waiting, and the Threats that may harm you chances of success. Then, you make a plan for taking advantage of the Strengths, ridding yourself of or decreasing the threat of Weaknesses, seizing and pursuing the Opportunities, and diminishing the Threats. Essentially, you develop a fully-informed strategy. A strategic plan doesn’t have to be lengthy, but yours might be. However, it is absolutely essential for success in business, especially when we face such a (gasp!) horrible market. The time investment to draft one is not all too considerable (depending on the size of your company), but the benefits are enormous. Think of your strategic plan as the headlights for your car. When you are on a curving highway, at night, you turn them on to illuminate the way. This market is that highway, and the strategic plan–or your headlights–can make your journey safer, faster, and more fun. Remember, we will consistently bring you the most recent, must-have information, so come back frequently. After all, we’re your Best Business Expert. You don’t want to miss what’s coming next. Your Best Business Expert, Lisa on behalf of Contemporary VA

www.contemporaryva.com