Business negotiations are fraught with opportunities to become stressful experiences. In this series, we’ll discuss five guiding principles on how best to negotiate agreements. The first principle is to clearly define your desired outcome from the transaction. Recently, Rod needed to hire a new videographer. He examined his budget and considered the maximum value he could afford to pay. Even ...
In the 1970s, there was a popular book called The Peter Principle by Laurence Peter. The premise of the book was that successful people often receive promotions until they’re finally promoted to a level of incompetence. The most common application of this principle is in sales. After many great salespeople have success, they often assume their next step is to ...
Jeremiah 21 tells the story of Zedekiah, king of Judah. Frightened of the approaching Babylonian army, the king asks the prophet Jeremiah to intercede with God. Although he had disregarded God’s prior direction to submit to the Babylonians, Zedekiah wants God to repel the invaders. But Jeremiah is compelled to speak God’s truth. God will not bless Zedekiah’s request, but ...
In this series we’re discussing seven keys to successful business startups. The sixth key is to know the condition of your business. The owner of a chain of retail stores hired my consulting practice years ago to help their struggling business. This was a $5 million a year operation, yet, when I asked for financial information, they had no answers. ...
In this series, we’re discussing seven keys to successful business startups. The fifth key to success is to trust God rather than lenders for your funding. If God desires you to start a business, He has the ability to fund it in multiple and creative ways. Assuming that you need to borrow money, before exploring other possibilities, leaves God out ...
In this series we’re discussing seven keys to successful business startups. The fourth key is counting the cost. As a commercial lender, very few budding entrepreneurs came to me with an actual budget for their new business idea. Yet, one of the most common reasons for business failure is being undercapitalized and overextended. Most entrepreneurs are overly optimistic about how ...
In this series, we’re discussing seven keys to successful startups. The third key is to under promise and over deliver. Trust is the backbone of commerce. Many new entrepreneurs undermine trust by not being reliable. For the first meeting with a new client, try showing up early. Then, at that meeting, make a commitment to provide your next step or ...
In this series we’re discussing seven keys to successful startup businesses. The second key to success is deciding how you will set yourself apart from any competition. Years ago, I helped launch a coffeehouse. We could have competed by having better or cheaper coffee, but we set ourselves apart by focusing on building community and being a convenient location for ...
Years ago, Dean purchased his father’s company and took over the day-to-day leadership. Dean shared with me his fears about whether he would be able to lead his father’s company as successfully as his father. He also expressed fear that the wealth he was coming into might tempt him into actions he would later regret. Fortunately, Dean overcame his fear ...
A common fear in business is the fear of rejection. Many people avoid making sales calls out of a fear of rejection. Avoidance seems to be a common approach to addressing possible rejection. Author and speaker, Jia Jiang, however, took a different approach. Jia performed a 100-day rejection experiment where he sought out rejection each day for 100 days. He ...
Equipping Others to Do Work Differently
