Being a Business MAN

Character - a value-driven professional

• add value to customers and the people we work with

• See Yourself as an economic investment on the open market

  • give people a great return on their investment

• see youself as a hero on a mission, not a victim

  • A hero rises up and succeeds against all challenges and oppressors
  • Learn and get better, keep fighting
    • Those who journey the farthest will arrive with the most strength.

• remain calm and de-escalate drama

  • react a little under the level of drama a situation deserves

• accept feedback from you trust

  • Choose people who have your best interests at heart
  • Shedule meetigns in a repeating routine
  • establish a routine set of questions
    • have U seen me act unprofessionally?
    • Have U noticed that I've been missing sth?
    • What am I doing that I can improve upon?

• know the right way to engage in conflict

  • conflict is not wrong; it's the by-product of progress
  • try to remain calm and reasonalbe as you engage in conflict
  • make statements that affirm and respect, even as you confront
  • make the goal to move in a positive direction by collaborating with whomever you are talking with about benefiting them and their career

• want to be trusted and respected more than liked

  • Clear expectations
    • focuses on the big picture, what's the goal of the team as a whole?
  • Let them know and keep them accountability in a daily stand-up meeting
  • Rewards for good performance
    • once you explain the big picture and set clear individual expectations, affirm the team is doing a good job, and challenge and support them to close performance gaps

• they take action to make those ideas happen

  • make real things happen in the real world. they do not let their best life get stuck in their imaginations

• they live in clarity

  • we just don't wanna do the thing we need to do, and so we choose confusion to avoid responsibility

    • consufion is often our desire to avoid conflict and our unwillingness to take action

  • If I were a different person, looking at my life from the outside, what would be the obvious right action to take?

    • people pleasing, losing face, or fear if I do the right thing

• growth mindset and optimism

how a business really works like an airplane

• the body: overhead - the cost of doing business that is not related to product, marketing, or sales

  • monitor the creeping expense of overhead

    • question whether money is spent in the direct effort to make more money

    • have to be lean, light, and efficient everywhere

  • salaries, medical, rent, office supplies

  • keep overhead as light as possible

• the wings: products and services

  • everything you sell

  • sell the products that are profitable and in demand

• the engine: Marketing

  • a marketing budget
  • a sales team

• Fuel: Capital and cash flow

  • enough cash to operate your business
  • accessible money in the bank is fuel in a business
    • ask ourselves how this decision will affect cash flow in every decision

• Keep the business flying

  • resistant to adding costs to overhead
  • reports that reveal whether marketing and sales efforts are performing effectively
  • profit margins are high enough
  • increasing the efficiencyof production, sales, and marketing

communication

negotiation - Trust a proven process

• Always know whether you are in a competitive or collaborative negotiation

  • Know what kind of negotiation mode the person you are negotiating with is in

  • A competitive negotiator will not stop until they are sure you have lost

    • they aren't interested in understanding what I wanted, only in getting what they wanted
    • creating a false bottom to the negotiation
    • make sure to let them know you won't be able to go any further and that's when they will feel as though they have won
    • I let them know this was a lot of money and I would have to make a significant sacrifice to make it happen

• find out if there is anything you can offer your counterpart as a way of making the deal more satisfying and bringing it to a close

  • understand that a negotiation is about more than just numbers; it's about bringing somebody satisfaction at the end of the deal
    • list "other benefits"
  • ask yourself what other factors could be in play

• make the opening offer on the table for the rest of the conversation

  • having information that adjusts the gravity of the negotiation

• Diversify your interest in an opportunity before you start negotiating to avoid being emotionally hooked

  • split your interest, you gain leveraging power and also realize a scarcity mindset could cost you

Successful Negotiation

• TODO

• reference

  • Successful Negotiation

reference

• [Business Made Simple]
• HBR Guide to Negotiating
• Negotiation strategies
• Improving Communication Skills
• Success