Question: In almost every area of managing my business, I feel confident about my abilities, except one: negotiating. Whenever I have to negotiate terms of a deal, I get so nervous I feel like passing out, and my throat gets so dry I can hardly speak. What do you suggest?
Answer: Well, of course, you can always hire someone else to do the dirty work for you … but since this can get expensive, there might be another solution.
Do it in writing. You can either mail, fax, or e-mail your terms and conditions.
Research suggests that if you’re not in face-to-face negotiations, you get more comfortable and will actually overstate your needs. So when you sit down to write your demands, just be careful to be clear and explicit and whatever you do, don’t seem timid or apologetic. Because you’re not in visual contact, it’s less likely that things can get contentious. Take advantage of that situation.
Be careful to be professional. If you’re e-mailing, resist the temptation to be less formal. You will want to keep things on a high level of communication, so represent yourself as you would if writing a letter of agreement.
Also, try to keep your inflections unemotional. In other words, try not to sound arrogant or angry. You have a big advantage when you put your terms in writing, which you don’t have when you meet in person: If you don’t like what you’ve said, you can change it before it does any damage!
Q: When working at home, not only do I get lonely for another person’s companionship, I can mentally shut down. Please send help!
A: If you were an author, this would be called “writer’s block.” There are several things you can do to jumpstart your creativity. Here are a few:
? Ask stupid questions. They’re usually the ones that spark the smartest answers.
? Stay put. No matter how much you want to, don’t take a break yet. Force yourself to stay at your desk for at least a certain number of hours, especially when you’re on a deadline. Make taking a walk or running errands your reward. You’d be surprised at how good you’ll feel to get out after you’ve accomplished your goal.
? Don’t edit yourself. Often you’ll come up with the best ideas, and then try to talk yourself out of them. Go with the flow. At least give yourself the chance to express some creativity and see where it takes you, before killing an idea.
Q: My mother has her own real estate business. For years, her dream was that my brother and I would join the “family” business when we graduated. But neither of us share her vision. We have other plans. What should we do?
A: Follow your own dreams. It won’t do either you or your mom any good if you do something you dislike doing. Often, parents who have their own businesses believe that it’s a great legacy for their kids to have. But they forget that their children might have their own legacy to build.
To make it easier on mom, you and your brother should get very organized. Start putting together your business plan, plan out how much money you’ll need and where you’re going to get it from (besides mom’s checkbook!), and if you can, start it up without her knowledge. Then, after you have had a few successes, you can let her know about it.
Don’t underestimate how much your mother might appreciate your entrepreneurial spirit and drive. Since she’s an entrepreneur herself, it would be hard for her not to appreciate, respect and take pride in your accomplishments!
Q: Our business sells most of its products by direct mail. A few years ago, it was simply a matter of sending out marketing information and getting back orders through the mail. Now, it seems we are more dependent upon the phones receiving or making sales calls, and faxing in and out orders, as well as orders via e-mail. We are in desperate need of a more sophisticated phone system. Where do we begin to look?
A: Traditional PBX (private branch exchange) systems can get very expensive, maybe $12,000 or more for installation, plus a monthly charge. PBX is quite effective for a growing business, but if you’re not ready to take such a big plunge, you might want to investigate a PC-based PBX system that can offer many of the same features plus some new ones, for a lot less.
There is also an “appliance” PBX system, which might be easier and cheaper to install but may not have all of the features that a PC-based system would have.
But before spending money on any new phone system, price out your current system for about 20 months, and then do some comparison shopping.
One to look into is AltiServe, from AltiGen Communications, which starts at about $3,500 and can be used with Windows NT. You can reach them at www.altigen.com. Another one for a smaller office (less than eight people) is called Voysys Corp. www.voysy.com.
Q: We’re in the formative years of a new home-based business. I knew that money would be tight for a while, but after our last year, I’m getting tired of scrimping and saving. Should I go back to work for someone else? Sometimes it just seems easier.
A: That’s always an option. But it’s too early to throw in the towel yet. Maybe you just need a little boost.
You know, when you’re “the boss,” there are some things you can do to treat yourself without spending a lot of money.
Take a day off … Why not, you deserve it. And while you’re at it, take one day each week off for yourself. After all, it will give you a spark and make you feel like you’re getting paid for a vacation day.
Combine business with pleasure. Whenever you can, take a vacation where you can also spend some time working. This way you can probably charge the trip to your company and take it as a tax write-off.
Moonlight. That sounds ironic because you’re already working for yourself. But maybe you can spend some of your “free” time working in a related field as a consultant and make some extra spending cash.
These are just a few tips … I’m sure you get the idea. Brainstorm, and you’ll come up with more ways to cheer yourself on.
Lorraine Spurge is a personal finance advisor, author and business news commentator. She can be reached at (818) 705-3740 or by e-mail at [email protected].
