mentoring characteristics

Michael Ruge – Business Consulting & Mentoring for Your Business

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A deal maker who gets things done. As an “entrepreneur” have created several, successful enterprises. As an “intrapreneur” have advised and lent my consulting expertise to all sizes of corporations and entities. Work directly with you and/or your team through a wide range of consulting services for your business. Together, we will work to accomplish your goals, from website reviews, on-site sales training and business consulting.

I live my life by my standards and my way, attacking challenges as they come up. A good-natured, happy, peaceful man, always willing to help. The guiding light for my family and loved ones, friends and clients. I am an adventurer, a world traveler, a seeker of new limits.

My clients vary from individuals to large corporations. Let me be your personal advisory board or your inspiration and guide.Together we can build the right result for your needs.

Advising can take place in person, or by phone. Therefore, wherever you are located, you can get the benefit of my wisdom and wide range of business experience.

For more information and/or if you have questions or are ready to schedule your consulting session, please email me or use the short form below.

 

 

Deal Making Basics

Deal-Making: The Basics Explained

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Here are some deal-making tips for negotiating your way to a smooth sale:

Always have a balanced commitment.

Both parties need to be equal and build loyalty and equity within the relationship bank account. Every time you do something, ask your prospect to do something of the same or even greater value toward making that commitment of working with you.

Depending on the situation, here is an example of what you can say to your prospect, “After our meeting, I’m going to ask your organization to sign a letter of intent.” This means, in the beginning stages of the business relationship, you should give your contract, terms and conditions in a document. Also, make sure to include potentially challenging clauses and then ask for the prospect’s input.

Directly ask for leadership.

There is a good chance your prospect likes to give orders. You can ask your prospect, “What do you think we should do next?” If for some reason you have not had your chance, you can say something like this to your prospect, “Which one of your team members, Susan, Bill or Joe, would you like for me to continue this conversation with?” You must specify the names of the team members. If you don’t say specific names, you will not get the proper result you are looking for.

Here are some things you should avoid and never do when it comes to deal-making:

Make guarantees that you’re unsure about.

You can always give a written copy of something instead of a verbal overview that could be misunderstood.

You should ignore early signs of unevenness between your business’s culture and your prospect’s business and culture.For example, your business sells the most expensive office equipment available while your prospect’s business sells the cheapest.

Those are some basic hands-on tips to follow when it comes to deal-making and negotiating. I hope these ideas and suggestions help you with your business’s sale process.

Business Deal Making

Six Key Steps to Masterful Deal Making

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Here are 6 key steps to masterful business deal-making:

1. Know your value.

Make sure that you understand what you or your offer can do for the other party. This means researching all the potential benefits and ways that your idea, product or service could help them.

It is important and well worth it when the other party knows that you understand their needs and have their best interests. If your argument is lacking in any way, it is up to you to figure out how to modify it so that it can serve the needs of your target audience.

2. Personal Relationships.

This is a very important key to deal making. You learn about them and they learn about you. Relationship management is the key to showing the other party who you are as a person, what you can do, where your values stand and how the deal at hand will benefit everyone involved.

From then on, handshakes are offered and agreements are signed. Deals can close easily and quickly because people have gotten to know and trust you, making them comfortable to do business with you.

3. Getting others on board with you.

This can be difficult, especially when there are many people involved. It is very to convey and articulate your vision of the outcome in such a way that the other party will desire that very same outcome.

As you present your position, the “WIIFM’ Factor – “what’s in it for me” – must be made clear to the other party.

4. Be Humble.

Always respect the other people involved in your deal-making no matter what. You have to be humble, but firm to broker a deal effectively.

It’s important to be honest and fair about the negotiation. Keep your intentions genuine. People need to know that you have the ability and desire to perform your task.

5. Finesse.

Problem-solving with a twist. Almost every deal, big and small, takes finesse. This is where natural abilityand skill meet. This is where you get to have fun and allow your personality to shine. It means being able to explore different angles and try the somewhat crazy.

6. Have Swagger.

Swagger is an attitude implemented through finesse. Swagger is about having an authoritative disposition and demeanour without being arrogant. It’s also about knowing how good you are and what you are capable of without being pretentious.

When it comes to deal-making, your swagger should emit confidence and fearlessness. If you are successful with your swagger, you’ll walk away with what you want.

Remember, deal-making is an art. Follow these six key steps outlined above and in due time, you will be a deal-making master.