What is the key to a prosperous partnership?
Many people out there dream of running their own business, right? But have you ever tried thinking how many out of them are able to fulfil their dreams. Only a few of them are able to accomplish their dreams; some are just able to reach halfway and things get over for them; while remaining dreams remain just a dream. People who seriously want to get into business and make their dreams come real true always ponder – what is the key behind successful partnership actually?
Through this post, we shall try to run through some of the key points that one should bear in mind before think about starting a new business:
Getting disappointed while negotiating
Over the past few years, many of you have been involved in numerous big and significant negotiations. Disappointment to negotiate well in any of those circumstances must have had some dreadful impacts on your businesses (I’m pretty sure).
There are some key tips that have definitely helped many successfully businessmen and driven them to reach the place where they have been pleased with the outcomes.
Joanna Shields of Bebo.com once quoted an impressive message of her dad:
“Your career is long and the business world is small. Always act with integrity. Never take the last dollar off the table.”
Fantastic advice, isn’t that?
Unfortunately, many of the aspiring businessmen never get a chance to pay heed. Most of them are estimated to get preoccupied in nigh term statistics, performance windfalls, and, indeed greediness. In economic times like the present, these pressures are amplified.
Many folks delve into business as a rivalry. In many cases it is (duh, henceforth the word “opponents”). Forlornly, we sometimes encompass the meaning of opponent to take in anyone sitting across the table from us. Every so often, that person who is sitting across the table is hypothetical our partner but we engage in totally dysfunctional competitive or regional conducts. Then ruthless things happen. What kinds of ruthless things? You know I’m going to disclose you.
Shields’ father further adds that: “You can every time grab a marginally better deal, but that cumulative dollar or bonanza is not worth generating a disparity that has an emotional impact on the relationship. You have to have the instinct to know when to say, ‘I’m going to make certain that we leave feeling like we’ve both done a great job.'”
New Hires and taking on the Wrong step
All businessmen hire people. I have a friend who lately gave an interview. He told me that he literally liked the management and the team members and he made up his mind to join them. Even the company management people liked in him too and made him a job offer.
After that HR role came in and they sent him the offer and it was pretty lower than what he was anticipating. They ensued to negotiate and did some nickel-and-dime stuff with him on all facets of his package – gross, additional benefit, signing additional benefit, moving allowance, and much more. Every part of the offer became an agonizing conciliation. It got so hurting that he called the recruiting manager. “I’m sorry but I’m not interested in taking this role any longer” .
Excerpts of the remaining conversation between them:
“What?? Why not? We thought you liked the role very much as well as the team and were too much willing to join.
He said, “I do. But I dislike the people you have discussing my compensation package. If that’s how I’m going to be dealt with, I’m pretty sure I don’t wish to be part of your organization.”
Finally, he decided not to join the company. By the way, my friend later on got to know the fact that the hiring manager had been moving under the force of gravity in regards to the individual negotiating the package. The manager evidently realized that why taking the last offer off the table is an awful idea.
Leave the money on the table as the goodwill and sense of fair-mindedness you form by doing so is worth substantially more than that dollar.
I’m requesting you to bear this principle in mind. Whether you’re negotiating a do or die deal, a new agreement, a new recruitment offer, or merely a rate adjustment, you need to keep one thing in mind that you will be working with these people after that episode. Definitely, you can be the star and save money for short term but if you think in terms of longer duration then I would say that you are constructing a poor status and ultimately no one will wish to work with or for you.