Business Efforts - An Oxymoron??

We often read and hear references to business ethics. Undergraduate and post graduate courses dedicate large amounts of time and resources to the topic. However, if one were to ask the average consumer if he believed that most businesses were conducted in an ethical manner, we would predominately receive negative responses. Simply stated, ethics can be defined as doing the right thing, the moral thing, and treating others with honor and respect. Related to business, this concept would include several items, and when we evaluate how most businesses conducted business, we would often avoid referring to these practices as moral.

1. One of the necessities of being ethical is telling the truth. However, when we look at how businesses, services and products are often promoted, the truth is stretched rather thin. One example, of course is the mobile communications or cell phone industry. Each carrier runs ads trying to convince us how superior they are. However, since there are no legal requirements even for using terminology such as "4G," and each carrier handles their lines differently, there is often quite a bit of variation. For example, going strictly by its ads, one would believe that Verizon cellular service is nearly perfect. Its advertisements makes claims about the clarity of its calls, how few calls are dropped, its speed, etc. While that is the case in some areas, several of my friends on Verizon service experience dropped calls, etc., in various areas, while having excellent service in others. ATT Mobility claims its system is fastest, and in some areas it is. I use the system and have had wonderful experience, yet, I know others who have been extremely disappointed. Sprint customers have similar experiences, and I have had wonderful experience with Sprint's Air Card, which works well nearly everywhere I've used it. However, as good as it is, it is certainly not as quick as wired or WI-FI service. Every other service has its proponents, as well as its attackers. The issue is not which service is the best, but rather how the services promote themselves. While effective advertising is self promotional by definition, misleading ads are certainly not terribly ethical.

2. Have you ever gone into a store and purchased something, and the store quickly asks you if you'd like to purchase an Extended Warranty. While there is nothing wrong with offering this, nor with the stores making additional revenues doing so, have you ever been given a clear cut explanation of what is and is not covered, and the limitations. Remember, we are discussing ethics here!

3. Investment Advisers are another area of ethical concern. Is the individual an unbiased adviser, or is he simply a salesman disguising himself as an adviser? Both duties and functions are acceptable, but which is ethical?

4. In Real Estate, does the average buyer truly understand the difference between being represented by a Buyers Agent, a Brokers Agent, and a Sellers Agent? In New York State, for example, by law, prospective buyers must be given an Agency Agreement that explains each of these. Yet, if the average buyer truly understood the differences, one would think the vast majority would prefer using a Buyers Agent, whose loyalty is directly to the buyer. Is this an ethical dilemma?

There are so many situations in business where there is the opportunity for a business, product, or representative to opt to either prioritize ethical behavior, or to merely do what might be expedient and in the store (or business, product, or reps) best interest, rather than the customer (or buyer).  Many professions, including medicine, dentistry, real estate, investments, etc, have both implied, and written Codes of Ethics. However, the often fine - line between the rhetoric, etc, and the reality, brings us to question and often, wonder, if business ethics is another one of those oxymorons, such as military intelligence, moral politician, etc.

Intelligence is Often Far Different than Smarts!

As a general rule, many people considerate formal education to be evidence of someone being smart. While excelling in school, and successfully completing the prerequisites necessary for advanced degrees generally indicates intelligence, at least in that specific field of endeavor, it often does not correlate directly with someone necessarily being smart. However, unfortunately, many people automatically defer to these exceptionally educated, well achieved individuals, assuming their proficiency, expertise and achievement in their particular field of study translates over to other areas as well. While in some cases, intelligent individuals are also smart, it is not necessarily the case.
It is also true that there are many extremely smart people who lack formal education. To me, smart people are those who demonstrate an intuitive nature, and are perceptive enough to fully understand various sides of issues, and to "cut through" the rhetoric, and appreciate the ramifications of taking actions, or refraining from taking any action.

Some of the most innovative individuals, who have significantly influenced and/ or shaped our lives, do not possess that high a formal education. When Microsoft Founder Bill Gates attended Harvard as a pre - law student, he left after two years, to take a job as a programmer. When he approached the sophisticated, well - educated intellectuals at I.B.M. about purchasing his operating system for personal computers, they felt it was not in their best interests to do so, and rather "leased" his operating system. One can only imagine how the economic fortunes of both I.B.M. and Microsoft would have been drastically different, had I.B.M. made a different decision.

Years ago, one of my best and favorite investment and financial clients was a wonderful man, who lacked any type of formal education. However, he truly had incredible "street smarts," and his "gut" was a better decider than all the degrees available. Few individuals had an eye for investing like this man, and his specific view that he referred to as being a "contrarian," worked so well for him, that his business was a huge success, and his investment portfolio well out-performed most others.

For more than forty years, radio audiences have been listening to J.Donald Imus (known by most of us as Imus), and his former, news sidekick, Charles McCord. What many do not realize, is that neither Imus nor McCord have any type of formal education, yet appear to have both an intuition and an understanding of issues far beyond most of us, including the "intelligencia."

I would urge people not to judge how smart someone is simply by their degrees, or their incomes, or their success in a particular venture. One can be very well - educated, make or have a lot of money, and have a successful business or occupation, without being particularly smart. I would rather listen to someone with common sense, true expertise (which is far different than a string of meaningless, unrelated experiences), and perception, than to someone who may be quite intelligent, yet lacks these important and essential qualities.

Why It's Important to Write Goals Down?

Most of us have repeatedly been instructed that it is necessary to have an essential dream, a personal vision, and create important and relevant goals, if we wish to be successful and to achieve. However, simply having goals is not enough, but rather it is necessary to have a mechanism in place to transform goals into reality, by taking action. Many studies indicate that the vast majority of individuals perform and achieve better when there is a visual aspect to their learning, commitment, habit and behavior. It is for this reason that most great achievers have dreams that they visualize and which motivate them, create goals and an action plan, and don't simply think about or try to memorize what they wish to do and how, but rather, put these goals down in writing and refer to them often and repeatedly. Brian Tracy stated, "Committing your goals to paper increases the likelihood of achieving them one- thousand percent."

1. Even the most important and far- reaching dream fails to yield results unless it motivates the dreamer to commit to specific goals, which he then designs an action plan to achieve. In order to optimize one's results, write the goals down, first in broad thoughts, and then in specifics. Explain in writing your reasons for why these goals are so important. Then put them in a priority order. Then put them down with a time table or timeline for when certain actions need to be taken, and why. Create this action plan in such a way that you think your ideas through thoroughly, and you decide upon a first or preferred course of action, as well as numerous alternative or contingency approaches to achieving your most essential goals. Commit to these thoroughly and review these notes and ideas on a very regular basis. This will both motivate and refresh you on your personal journey.

2. Never forget that you must believe in yourself in order to achieve these goals. In the majority of cases, a most effective tool is the use of affirmations. Affirmations must be personal positive statements regarding matters that are most important to you personally. They must always be stated in both the positive/ affirmative as well as in the present tense. For example, if you feel you need to become a better speaker to achieve your goals, an affirmation might be, "I am an enthusiastic, stimulating speaker that audiences enjoy listening to." Note that the statement is specific, positive and in the present tense. Try this with items that you feel you would like to personally pay more attention to, or get better at.

Most of us find visual learning the most effective. Some use this method in conjunction with others, while many find it to be their preferred methodology. Write down what you want to achieve and what you need to do.

What's Your Elevator Speech?

It is generally believed that the most meaningful single component that determines the potential strength of the American economy is related to the health of small business and small business people. This includes consultants, real estate professionals, accountants and CPA's, physicians and dentists, small law practices, salespersons, commissioned individuals such as stock brokers and insurance agents, etc. These are often highly competitive industries, where there is a need for an individual or small business person to differentiate himself, develop a personal niche, and maintain and develop the ability to effectively and seamlessly communicate why others should utilize his services. In other words, he develops an elevator speech, which in thirty seconds or less, whets the appetite of those around him, motivating them to ask more, and creating a mystique or aura where he sticks out in a positive and productive manner.

1. How do you interest others without appearing to simply trying to sell something? How do you make your message both compelling and interesting, showing a positive message where others not only listen and hear, but pay close attention and retain what the messenger is trying to convey? How is it possible for anyone to have an effective elevator speech unless he maintains a positive mental attitude combined with actual self - confidence? What do you say that differentiates you from the rest of the pack? Do you believe your own words? Are you capable of seamlessly promoting yourself in an impactful and meaningful manner?

2. Why is an elevator speech so important for someone to develop? This thirty second opportunity comes about often, not solely in an elevator, but in brief meetings in the supermarket, at cocktail parties, and in any social or business gathering? What is your brand, and why is your brand one that others should care about? How do you differentiate yourself? One example could relate to, for example, a real estate agent, who might be asked some version of the question relating to why one should use him rather than others. The individual who does not hem or haw, wax philosophical, get hung up on cliches or empty rhetoric, and simply claims he'll do the best job for them, will rarely attract much positive attention. However, on the other hand, the individual who clearly and without hesitation states emphatically that while there are many real estate agents available, and even confidently states that many of them do a decent job, avows confidently that they lack one key ingredient that he possesses. Therefore, each individual must ponder what makes him different, unique and someone others need!

Think about the impact of your elevator speech! Does it motivate others to care more, think more, and understand why you are someone they should seek out and do business with?

The Difference Between Ego & Excellence

One of the least understood behaviors is what most of us refer to as being egotistical. While some individuals voice much bravado and appear to be applauding themselves and patting themselves on the back continuously, someone with a truly healthy self image does not find that type of self praise necessary. The reality is that if someone speaks about achievements in order to demonstrate experience and expertise, and they were real achievements, that is not bragging, but if someone exhibits false bravado and overstates his achievements, then it is simply self promoting. Walt Whitman stated, "If you have done it, it ain't bragging."

1. There is often a huge difference between mere experience and true expertise. Just because someone has had some experience, it does not mean he has learned sufficiently from it, for it to provide some advantage or expertise. I'm sure we have all met people who appear to be egotistical, whose behavior ends up being more based on insecurity and the need for attention, applause, gratitude, etc., than it is related to any type of superior knowledge or expertise. For example, in politics, when a politician points to his record, it can either be a case of bragging, or true excellence. Was he actually the cause of the positive results? Were there actually any positive results at all? Especially as it relates to politics and politicians, there is often a distinct line that gets blurred between true achievement and excellence, versus falsely taking credit or distorting one's achievements. This is caused partly by convincing one's self that they were actually excellent and actually believing it, a desire to win and election, political spin, ego or false ego, or being delusional.

2. I have been involved in the event industry for well over thirty years. During that time, I have come across quite a number of people who thought of themselves as being event planners or event experts, while the reality was that they, at most, chaired a program, event or a committee, and perhaps got involved in certain aspects of the event planning process. Therefore, when it comes to event planners, while I can state that I will guarantee cost savings and superior event planning and superb results, that statement is not bragging but rather the facts based on my years of experience, my gained expertise and knowledge, and the results I have consistently achieved. On the other hand, it is bragging when someone who perhaps was involved in previous events but does not possess the prerequisites to be considered expert, claims to be an event expert.

Bragging is only offensive when it is untrue. Otherwise, it may be merely a recitation of the facts. In either case, however, it should be done with tact and without being offensive.

Why Salespeople are Created, & Not Born?

Becoming a proficient sales professional takes a commitment to excelling at the skills necessary to maximize results. Contrary to what some people say, almost no one is a "born salesperson," and most people need to learn and then hone the necessary skills. While many claim they have the "secret formula," the most effective way to be successful in sales, is to practice proper techniques. Excelling at sales can be compared to excelling at sports - - it requires first learning the proper and best techniques to get the desired results, and then practicing. Either fortunately or unfortunately, there is no short cut.

One cannot learn how to sell, merely by attending classes, reading, or observing others selling. While all of those are important in the orientation and training process, becoming good at sales requires practice and repetition. However, this becomes complicated because if an inexperienced, ill-trained, and unprepared individual attempts to sell before he is ready, often times he "blows" the opportunity with the individual he gave a less than ideal presentation to. For that reason, as well as others, it is essential to develop and use other training and practice methods and techniques.

The best way to be trained and to practice one's sales presentation is by "role playing." Role playing requires the assistance of a trained and proficient sales professional, to oversee the process, and to assure the technique being used is excellent. Just as a tennis player constantly practicing using poor form, or a golfer constantly repeating a less than ideal golf swing, or a baseball player practicing a bad swing, role playing practice is only effective if the technique used is good.

The first step in role playing is that one, first assume the part of the customer or client, and that the experienced, proficient sales professional present to him, while one attempts to make it difficult for the professional. After repetition, discussion, and practice, the roles should be reversed, and the new person should now do the presenting to the seasoned individual. It is essential to realize that this is not a one- time role playing practice session, but must be repeated on an ongoing basis, initially multiple times per day, then daily, then perhaps weekly, etc. Even the most seasoned professional must role play on a regular basis, in order to assure that he has not developed habits that weakens his performance. If one thinks about it, that is why actors use writers and directors - - to guide them to their optimal performance.

The first step is to effectively learn everything necessary to sell either the product or service. That includes necessary technical information, introductions, script, listening skills, consultative selling techniques, etc. I recommend reading my numerous online articles (particularly on Ezinearticles.com)  on these topics to assure success. Then, one must learn how to answer and overcome any possible objections. For a review of that techniques, one can review my previously published article on Ezine articles. An effective salesperson also develops the techniques and skills needed to successfully use the fall-back strategy of knowing how to recreate need and give yourself another opportunity.

After all that is learned, re-learned, practiced and re-practiced using role playing effectively, and one is confident in his abilities and techniques, then "a salesperson is born."

What Can & Should Be Negotiated, & What's The Best Approach?

As a professional negotiator, who for more than three decades has negotiated hundreds of hotel and venue contracts, as well as numerous business contracts of a variety of different types, I have often been asked what can one negotiate, and why is negotiating meaningful. While this would require a far more extensive discussion to fully explore, the simple answer is that almost everything is, in fact negotiable (particularly under the correct set of circumstances and conditions), and that quality negotiations are very often the difference between a successful or less satisfying result. While this is true regarding many different aspects of our lives and activities, it is often most readily obvious when it comes to events and event planning, as well as real estate transactions, and politics! Unless the entire process of planning an event is negotiated properly, the result will generally be less than optimal! Observe whether a real estate professional possesses true negotiating skill, because it may represent thousands of dollars (how well, for example, can he negotiate for his own fee/ commission, because if he can't do that, how will he negotiate for you?), and evaluate the attitude and personality of a politician, especially from the perspective of whether you would consider im trustworthy, upfront, and whether you would want to deal with that individual. 

1. In my experience, I have found that a quality, professional negotiator will save an organization a significant amount of time, aggravation and wasted resources. When negotiations are done correctly, not only should an organization save far more money than what they are paying for the negotiator's services, but they should be able to count on the professional to make a series of meaningful recommendations that should provide more value, enhance marketing efforts, and locate additional areas of significant efficiencies. My personal policy is that I often guarantee my clients a savings that will exceed the fee I charge by a significant percentage.

2. Many individuals negotiate, but only a quality professional negotiator will get an optimum deal made. Great negotiations come from had work and effort, an enormous amount of homework and research, emphasis on developing relationships based on mutual respect and integrity, attention to details, needs analysis, and knowing what can be asked for, and what cannot. I equate it to someone that wants to purchase a home. If someone really wants a house, he must know what other comparable properties go for, and then, whether he wants to be in a position to perhaps receive and entertain a counter - offer. If someone is only willing to pay a particular figure with no flexibility, then little strategy is needed. But, when someone wants the house and is somewhat flexible, he must be certain that his offer balances his ability to get a great deal, with a realistic possibility of at least receiving a counter - offer. If the offer is too little, the seller may merely consider it not to be serious, or even worse, insulting. That's why an essential duty of a professional realtor is to be a quality negotiator. If someone is unrealistic in demands when negotiating with a hotel, the long term result is generally less than optimal.

Not everyone is a great negotiator. Not even every professional negotiator is! Before hiring a negotiator, you must feel confortable and confident in his abilities and performance. Great negotiators ask questions, but spend far more time listening than talking! In essence, the art of the deal, in terms of negotiating, is to not look at the process, from the standpoint of beating an opponent, but rather coming up with a strategy, which makes both sides feel they got what they needed, while getting yourself the best possible deal/ terms possible. That is the true, Art of the Deal, and I refer to it, as win - win negotiating!