Saturday, February 11, 2012

Cold Calling is NOT Dead!

Over the past few years 'Cold-Calling' had become a favored activity of choice to generate Sales as it is believed you can contact large numbers of 'prospects' in a short space of time. BUT, I heard that 'Cold-Calling' is dead… I have to disagree and here's why;

I was recently at a Seminar when one of the business owners at my table said "cold-calling is dead". I asked what had replaced it, he had no answer, but to tell me it was a useless waste of time as "you make no sales, pointless exercise, time can be better spent"…

General definition of "Cold-Calling"; contacting prospective customers or clients, typically by phone, when the contacted was not expecting the call… This can be viewed as a low risk option [to the business selling]  for a business to try to generate sales of goods or service.

What I think it is;

Cold-Calling; A process by which to introduce yourself or your Business to another business or customer with the intent to share relevant information and gain permission to contact again. No selling there!

I have never viewed cold calling as being part of my job description and I have been in Sales for nearly 15 years… So what do I do?

Contacts

Research lists/build databases relevant to the project in hand. Get the appropriate contacts with-in the companies you want to break into. There have been posts where people will tell you Social Media is great for that. Yes, it will give you a name, but it wasn't given to you. Use mutual connections to get introduced properly, I'm dreadfully old fashioned, you can bulldozer your way in, but all that does is knock things over and ruffle feathers. Ask for introductions, it shows you care enough to 'ask', this also allows your connection to talk about you to the person you need to talk to..

Prepare the Prospect

Send email or letter information, general marketing information, a precise explanation of the business and what you offer, information on an offer that may be on at this time. Have a reason to contact this prospect/business. A blind "we sell x y z, would you like to buy x y z" just wont work… Remember this isn't "cold calling" as you know it…

Introduction Calls [used to be known as Cold Calling]

Once the information has been sent, give 3 working days for post and or the information to land on the appropriate desk. Then make 'the call'. I [where relevant] introduced yourself, the company, the product/service you are offering and gave the 'prospect' a chance to speak. This is known as scripts/scripting, a whole other blog! [My dad always told me use my mouth and ears in ratio]

There is no way you are going to sell oh I don't know, say Ice to an Eskimo unless you listen to him, listen and ask the right questions… You could find out he has a party coming up and needs a tonne more of the stuff We are now relationship building, even if they never buy from us, they will feel they know us and will therefore trust to pass us on as a recommendation.

The Science bit!

When 'prospecting', make sure you have avenues of possible future sales recorded. When I was an agent, the other sales agents on my team thought I was nuts, recording details not actually asked for by managers "extra work for yourself, good luck and no thanks".

Extra Work???

Was it really extra work? If I was doing my job correctly, no! Typically we work in front of our computer or with a clipboard with a spreadsheet of information; Company, Contact Name, Email, Number. I would have columns for information I need to record, contact if initial is wrong, new number, best time to call, etc…  So whats one more column? If they say no thank you, be prepared to ask for a another lead, time to tender, etc. seconds to gain information that could be priceless..

This is business development, eureka moment anyone? I know a business directly linked to me that has a business development day each week, the name has changed, but the activity is exactly the same as when they had 'cold-calling sessions'.

This revelation also turns the idea that 'cold-calling is dead' right on its head… If you perceive cold-calling to be a way to make sales, then yes, you may be going to work everyday faced with a litany of No, no, nil, NO, and no… See this as the business development opportunity that it is and prepare yourself to make connections, learn about the person/company on the other end of the phone. How "pointless" are these exercises?

Accept that if you chose this process to "make sales" then there will be more than one call involved [99% of the time]. A recent experience with one client showed; 40 business development [replaced the word 'cold'] calls got him one coffee meeting… Consider the fact that this is the first time the contacted person is hearing about you, your product/service and they will probably like a follow up or some other type of information [website, email, booklet].

Now, tomorrow when you are about to make that cold… Sorry business development call, think about who you are talking to, not what you are trying to sell. You never know your day may end on a brighter note!

Thanks to Tori Hawthorne / Bloggertone
http://bloggertone.com/sales/2012/02/09/cold-calling-is-not-dead/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+bloggertone+%28Bloggertone%29

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10 Things That Every American Should Know About The Federal Reserve

What would happen if the Federal Reserve was shut down permanently?  That is a question that CNBC asked recently, but unfortunately most Americans don't really think about the Fed much. Most Americans are content with believing that the Federal Reserve is just another stuffy government agency that sets our interest rates and that is watching out for the best interests of the American people.  But that is not the case at all.  The truth is that the Federal Reserve is a private banking cartel that has been designed to systematically destroy the value of our currency, drain the wealth of the American public and enslave the federal government to perpetually expanding debt.  During this election year, the economy is the number one issue that voters are concerned about.  But instead of endlessly blaming both political parties, the truth is that most of the blame should be placed at the feet of the Federal Reserve.  The Federal Reserve has more power over the performance of the U.S. economy than anyone else does.  The Federal Reserve controls the money supply, the Federal Reserve sets the interest rates and the Federal Reserve hands out bailouts to the big banks that absolutely dwarf anything that Congress ever did.  If the American people are ever going to learn what is really going on with our economy, then it is absolutely imperative that they get educated about the Federal Reserve.

The following are 10 things that every American should know about the Federal Reserve….

#1 The Federal Reserve System Is A Privately Owned Banking Cartel

The Federal Reserve is not a government agency.

The truth is that it is a privately owned central bank.  It is owned by the banks that are members of the Federal Reserve system.  We do not know how much of the system each bank owns, because that has never been disclosed to the American people.

The Federal Reserve openly admits that it is privately owned.  When it was defending itself against a Bloomberg request for information under the Freedom of Information Act, the Federal Reserve stated unequivocally in court that it was"not an agency" of the federal government and therefore not subject to the Freedom of Information Act.

In fact, if you want to find out that the Federal Reserve system is owned by the member banks, all you have to do is go to the Federal Reserve website….

The twelve regional Federal Reserve Banks, which were established by Congress as the operating arms of the nation's central banking system, are organized much like private corporations–possibly leading to some confusion about "ownership." For example, the Reserve Banks issue shares of stock to member banks. However, owning Reserve Bank stock is quite different from owning stock in a private company. The Reserve Banks are not operated for profit, and ownership of a certain amount of stock is, by law, a condition of membership in the System. The stock may not be sold, traded, or pledged as security for a loan; dividends are, by law, 6 percent per year.

Foreign governments and foreign banks do own significant ownership interests in the member banks that own the Federal Reserve system.  So it would be accurate to say that the Federal Reserve is partially foreign-owned.

But until the exact ownership shares of the Federal Reserve are revealed, we will never know to what extent the Fed is foreign-owned.

#2 The Federal Reserve System Is A Perpetual Debt Machine

As long as the Federal Reserve System exists, U.S. government debt will continue to go up and up and up.

This runs contrary to the conventional wisdom that Democrats and Republicans would have us believe, but unfortunately it is true.

The way our system works, whenever more money is created more debt is created as well.

For example, whenever the U.S. government wants to spend more money than it takes in (which happens constantly), it has to go ask the Federal Reserve for it.  The federal government gives U.S. Treasury bonds to the Federal Reserve, and the Federal Reserve gives the U.S. government "Federal Reserve Notes" in return.  Usually this is just done electronically.

So where does the Federal Reserve get the Federal Reserve Notes?

It just creates them out of thin air.

Wouldn't you like to be able to create money out of thin air?

Instead of issuing money directly, the U.S. government lets the Federal Reserve create it out of thin air and then the U.S. government borrows it.

Talk about stupid.

When this new debt is created, the amount of interest that the U.S. government will eventually pay on that debt is not also created.

So where will that money come from?

Well, eventually the U.S. government will have to go back to the Federal Reserve to get even more money to finance the ever expanding debt that it has gotten itself trapped into.

It is a debt spiral that is designed to go on perpetually.

You see, the reality is that the money supply is designed to constantly expand under the Federal Reserve system.  That is why we have all become accustomed to thinking of inflation as "normal".

So what does the Federal Reserve do with the U.S. Treasury bonds that it gets from the U.S. government?

Well, it sells them off to others.  There are lots of people out there that have made a ton of money by holding U.S. government debt.

In fiscal 2011, the U.S. government paid out 454 billion dollars just in interest on the national debt.

That is 454 billion dollars that was taken out of our pockets and put into the pockets of wealthy individuals and foreign governments around the globe.

The truth is that our current debt-based monetary system was designed by greedy bankers that wanted to make enormous profits by using the Federal Reserve as a tool to create money out of thin air and lend it to the U.S. government at interest.

And that plan is working quite well.

Most Americans today don't understand how any of this works, but many prominent Americans in the past did understand it.

For example, Thomas Edison was once quoted in the New York Times as saying the following….

That is to say, under the old way any time we wish to add to the national wealth we are compelled to add to the national debt.

Now, that is what Henry Ford wants to prevent. He thinks it is stupid, and so do I, that for the loan of $30,000,000 of their own money the people of the United States should be compelled to pay $66,000,000 — that is what it amounts to, with interest. People who will not turn a shovelful of dirt nor contribute a pound of material will collect more money from the United States than will the people who supply the material and do the work. That is the terrible thing about interest. In all our great bond issues the interest is always greater than the principal. All of the great public works cost more than twice the actual cost, on that account. Under the present system of doing business we simply add 120 to 150 per cent, to the stated cost.

But here is the point: If our nation can issue a dollar bond, it can issue a dollar bill. The element that makes the bond good makes the bill good.

We should have listened to men like Edison and Ford.

But we didn't.

And so we pay the price.

On July 1, 1914 (a few months after the Fed was created) the U.S. national debt was 2.9 billion dollars.

Today, it is more than more than 5000 times larger.

Yes, the perpetual debt machine is working quite well, and most Americans do not even realize what is happening.

#3 The Federal Reserve Has Destroyed More Than 96% Of The Value Of The U.S. Dollar

Did you know that the U.S. dollar has lost 96.2 percent of its value since 1900?  Of course almost all of that decline has happened since the Federal Reserve was created in 1913.

Because the money supply is designed to expand constantly, it is guaranteed that all of our dollars will constantly lose value.

Inflation is a "hidden tax" that continually robs us all of our wealth.  The Federal Reserve always says that it is "committed" to controlling inflation, but that never seems to work out so well.

And current Federal Reserve Chairman Ben Bernanke says that it is actually a good thing to have a little bit of inflation.  He plans to try to keep the inflation rate at about 2 percent in the coming years.

So what is so bad about 2 percent?  That doesn't sound so bad, does it?

Well, just consider the following excerpt from a recent Forbes article….

The Federal Reserve Open Market Committee (FOMC) has made it official:  After its latest two day meeting, it announced its goal to devalue the dollar by 33% over the next 20 years.  The debauch of the dollar will be even greater if the Fed exceeds its goal of a 2 percent per year increase in the price level.

#4 The Federal Reserve Can Bail Out Whoever It Wants To With No Accountability

The American people got so upset about the bailouts that Congress gave to the Wall Street banks and to the big automakers, but did you know that the biggest bailouts of all were given out by the Federal Reserve?

Thanks to a very limited audit of the Federal Reserve that Congress approved a while back, we learned that the Fed made trillions of dollars in secret bailout loans to the big Wall Street banks during the last financial crisis.  They even secretly loaned out hundreds of billions of dollars to foreign banks.

According to the results of the limited Fed audit mentioned above, a total of$16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010.

The following is a list of loan recipients that was taken directly from page 131of the audit report….

Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion

So why haven't we heard more about this?

This is scandalous.

In addition, it turns out that the Fed paid enormous sums of money to the big Wall Street banks to help "administer" these nearly interest-free loans….

Not only did the Federal Reserve give 16.1 trillion dollars in nearly interest-free loans to the "too big to fail" banks, the Fed also paid them over 600 million dollars to help run the emergency lending program.  According to the GAO, the Federal Reserve shelled out an astounding $659.4 million in "fees" to the very financial institutions which caused the financial crisis in the first place.

Does reading that make you angry?

It should.

#5 The Federal Reserve Is Paying Banks Not To Lend Money

Did you know that the Federal Reserve is actually paying banks not to make loans?

It is true.

Section 128 of the Emergency Economic Stabilization Act of 2008 allows the Federal Reserve to pay interest on "excess reserves" that U.S. banks park at the Fed.

So the banks can just send their cash to the Fed and watch the money come rolling in risk-free.

So are many banks taking advantage of this?

You tell me.  Just check out the chart below.  The amount of "excess reserves" parked at the Fed has gone from nearly nothing to about 1.5 trillion dollarssince 2008….

But shouldn't the banks be lending the money to us so that we can start businesses and buy homes?

You would think that is how it is supposed to work.

Unfortunately, the Federal Reserve is not working for us.

The Federal Reserve is working for the big banks.

Sadly, most Americans have no idea what is going on.

Another example of this is the government debt carry trade.

Here is how it works.  The Federal Reserve lends gigantic piles of nearly interest-free cash to the big Wall Street banks, and in turn those banks use the money to buy up huge amounts of government debt.  Since the return on government debt is higher, the banks are able to make large profits very easily and with very little risk.

This scam was also explained in a recent article in the Guardian….

Consider this: we pretend that banks are private businesses that should be allowed to run their own affairs. But they are the biggest scroungers of public money of our time. Banks are lent vast sums of money by central banks at near-zero interest. They lend that money to us or back to the government at higher rates and rake in the difference by the billion. They don't even have to make clever investments to make huge profits.

That is a pretty good little scam they have got going, wouldn't you say?

#6 The Federal Reserve Creates Artificial Economic Bubbles That Are Extremely Damaging

By allowing a centralized authority such as the Federal Reserve to dictate interest rates, it creates an environment where financial bubbles can be created very easily.

Over the past several decades, we have seen bubble after bubble.  Most of these have been the result of the Federal Reserve keeping interest rates artificially low.  If the free market had been setting interest rates all this time, things would have never gotten so far out of hand.

For example, the housing crash would have never been so horrific if the Federal Reserve had not created such ideal conditions for a housing bubble in the first place.  But we allow the Fed to continue to make the same mistakes.

Right now, the Federal Reserve continues to set interest rates much, much lower than they should be.  This is causing a tremendous misallocation of economic resources, and there will be massive consequences for that down the line.

#7 The Federal Reserve System Is Dominated By The Big Wall Street Banks

Even since it was created, the Federal Reserve system has been dominated by the big Wall Street banks.

The following is from a previous article that I did about the Fed….

The New York representative is the only permanent member of the Federal Open Market Committee, while other regional banks rotate in 2 and 3 year intervals.  The former head of the New York Fed, Timothy Geithner, is now U.S. Treasury Secretary.  The truth is that the Federal Reserve Bank of New York has always been the most important of the regional Fed banks by far, and in turn the Federal Reserve Bank of New York has always been dominated by Wall Street and the major New York banks.

#8 It Is Not An Accident That We Saw The Personal Income Tax And The Federal Reserve System Both Come Into Existence In 1913

On February 3rd, 1913 the 16th Amendment to the U.S. Constitution was ratified.  Later that year, the United States Revenue Act of 1913 imposed a personal income tax on the American people and we have had one ever since.

Without a personal income tax, it is hard to have a central bank.  It takes a lot of money to finance all of the government debt that a central banking system creates.

It is no accident that the 16th Amendment was ratified in 1913 and the Federal Reserve system was also created in 1913.

They have a symbiotic relationship and they are designed to work together.

We could fill Congress with people that are committed to ending this oppressive system, but so

far we have chosen not to do that.

So our children and our grandchildren will face a lifetime of debt slavery because of us.

I am sure they will be thankful for that.

#9 The Current Federal Reserve Chairman, Ben Bernanke, Has A Nightmarish Track Record Of Incompetence

The mainstream media portrays Federal Reserve Chairman Ben Bernanke as a brilliant economist, but is that really the case?

Let's go to the videotape.

The following is an extended excerpt from an article that I published previously….

———-

In 2005, Bernanke said that we shouldn't worry because housing prices had never declined on a nationwide basis before and he said that he believed that the U.S. would continue to experience close to "full employment"….

"We've never had a decline in house prices on a nationwide basis. So, what I think what is more likely is that house prices will slow, maybe stabilize, might slow consumption spending a bit. I don't think it's gonna drive the economy too far from its full employment path, though."

In 2005, Bernanke also said that he believed that derivatives were perfectly safe and posed no danger to financial markets….

"With respect to their safety, derivatives, for the most part, are traded among very sophisticated financial institutions and individuals who have considerable incentive to understand them and to use them properly."

In 2006, Bernanke said that housing prices would probably keep rising….

"Housing markets are cooling a bit. Our expectation is that the decline in activity or the slowing in activity will be moderate, that house prices will probably continue to rise."

In 2007, Bernanke insisted that there was not a problem with subprime mortgages….

"At this juncture, however, the impact on the broader economy and financial markets of the problems in the subprime market seems likely to be contained. In particular, mortgages to prime borrowers and fixed-rate mortgages to all classes of borrowers continue to perform well, with low rates of delinquency."

In 2008, Bernanke said that a recession was not coming….

"The Federal Reserve is not currently forecasting a recession."

A few months before Fannie Mae and Freddie Mac collapsed, Bernanke insisted that they were totally secure….

"The GSEs are adequately capitalized. They are in no danger of failing."

For many more examples that demonstrate the absolutely nightmarish track record of Federal Reserve Chairman Ben Bernanke, please see the following articles….

*"Say What? 30 Ben Bernanke Quotes That Are So Stupid That You Won't Know Whether To Laugh Or Cry"

*"Is Ben Bernanke A Liar, A Lunatic Or Is He Just Completely And Totally Incompetent?"

But after being wrong over and over and over, Barack Obama still nominated Ben Bernanke for another term as Chairman of the Fed.

———-

#10 The Federal Reserve Has Become Way Too Powerful

The Federal Reserve is the most undemocratic institution in America.

The Federal Reserve has become so powerful that it is now known as "the fourth branch of government", but there are less checks and balances on the Fed than there are on the other three branches.

The Federal Reserve runs the U.S. economy but it is not accountable to the American people.  We can't vote those that run the Fed out of office if we do not like what they do.

Yes, the president appoints those that run the Fed, but he also knows that if he does not tread lightly he won't get the money from the big Wall Street banks that he needs for his next election.

Thankfully, there are a few members of Congress that are complaining about how much power the Fed has.  For example, Ron Paul once told MSNBC that he believes that the Federal Reserve is now actually more powerful than Congress…..

"The regulations should be on the Federal Reserve. We should have transparency of the Federal Reserve. They can create trillions of dollars to bail out their friends, and we don't even have any transparency of this. They're more powerful than the Congress."

As members of Congress such as Ron Paul have started to shed some light on the activities of the Federal Reserve, that has caused many in the mainstream media to come to the defense of the Fed.

For example, a recent CNBC article entitled "If The Federal Reserve Is Abolished, What Then?" makes it sound like there is absolutely no other rational alternative to having the Federal Reserve run our economy.

But this is not what our founders intended.

The founders did not intend for a private banking cartel to issue our money and set our interest rates for us.

According to Article I, Section 8 of the U.S. Constitution, the U.S. Congress has been given the responsibility to "coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures".

So why is the Federal Reserve doing it?

But the CNBC article mentioned above makes it sound like the sky would fall if control of the currency was handed back over to the American people.

At one point, the article asks the following question….

"How would the U.S. economy then function? Something has to take its place, right?"

No, the truth is that we don't need anyone to "manage" our economy.

The U.S. Treasury could be in charge of issuing our currency and the free market could set our interest rates.

We don't need to have a centrally-planned economy.

We aren't China.

And it goes against everything that our founders believed to be running up so much government debt.

For example, Thomas Jefferson once declared that if he could add just one more amendment to the U.S. Constitution it would be a ban on all government borrowing….

I wish it were possible to obtain a single amendment to our Constitution. I would be willing to depend on that alone for the reduction of the administration of our government to the genuine principles of its Constitution; I mean an additional article, taking from the federal government the power of borrowing.

Oh, how things would have been different if we had only listened to Thomas Jefferson.

Please share this article with as many people as you can.  These are things that every American should know about the Federal Reserve, and we need to educate the American people about the Fed while there is still time.

Thanks to The Economic Collapse Blog / Yolo Hub
http://www.yolohub.com/economy/10-things-that-every-american-should-know-about-the-federal-reserve

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Senior Executives, Not HR, Are Key To The Selection Of Talent

In their book, The Talent Advantage, Alan Weiss and Nancy MacKay make the comment "…winning the war for talent starts at the top with the CEO; CEO is the brand for attracting, recruiting, retaining world-class talent in your industry; CEO is the exemplar for striving for extraordinary leadership; CEO must play a lead role in building a leadership talent pool for competitive advantage; CEO is key to holding senior executives accountable for attracting, recruiting, developing, and retaining top talent; CEO must partner with HR to align talent management strategically…." Obviously they think that senior executives are key in the selection of talent.

I am sure Weiss and MacKay are happy with the recent results of a January 2012 survey of 562 senior managers and executives by AMA Enterprise. That survey found that fifty-five percent of survey respondents named senior executives as most responsible for identifying high-potential employees. In addition to senior executives the survey also found "…others identified in the survey as responsible for identifying high-potential employees were managers (52 percent) and directors (44 percent). HR staffs were identified by 33 percent of respondents as playing a role in spotting high-potential employees. Training and development (T&D) staffs (11 percent) play a relatively minor role."

The small percent of respondents identifying HR as a necessary component in identifying talent is also anticipated by Weiss and MacKay. Their first chapter is subtitled "Human Resources is to Talent Search as Airplane Food is to Fine Dining." They go onto list 10 reasons that talent selection should not be delegated to HR. These include:

  1.    Lack of business acumen and financial literacy.
  2.     Lack of understanding of strategic plan and business priorities.
  3.     Lack of understanding of the skills, behaviors, and experience required for each role.
  4.     Lack of relationships with internal top talent.
  5.     Lack of relationships with external top talent.
  6.     Lack of accountability for business results.
  7.     Lack of decision making authority.
  8.     Lack of industry knowledge and key recruiting trends.
  9.     Lack of sales and marketing expertise.
  10.     HR as a staff function.

The survey also showed that only a minority of organizations place the whole responsibility for talent selection in the hands of human resources. This list and this survey are a clarion call to HR and echoes frequent complaints about HR.

There are however companies in which HR is heavily involved with talent selection. We would like to hear from you. How have your overcome this damning list? Or have you?

Thanks to Michael Haberman / Omega HR Solutions / Omega HR Solutions, Inc.
http://omegahrsolutions.com/2012/02/senior-executives-not-hr-are-key-to-the-selection-of-talent.html

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3-D Negotiation: Powerful Tools For Changing The Game In Your Most Important Deals (Your Coach In A Box) By David Lax, James Sebenius

3-D Negotiation: Powerful Tools for Changing the Game in Your Most Important Deals (Your Coach in a Box)

3-D Negotiation: Powerful Tools For Changing The Game In Your Most Important Deals (Your Coach In A Box) By David Lax, James Sebenius

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Stuck in a win-win versus win-lose debate, most negotiation books focus on face-to-face tactics. Yet table tactics are only the first dimension of Lax and Sebenius's pathbreaking 3-D Negotiation approach, developed from their decades of doing deals and analyzing great dealmakers. Moves in their second dimension deal design systematically unlock economic and non-economic value by creatively structuring agreements.

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Packed with practical steps and cases, 3-D NEGOTIATION demonstrates how superior setup moves plus insightful deal designs can enable you to reach remarkable agreements at the table, unattainable by standard tactics.

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  • Published on: 2007-06-29
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—Daniel Vasella, MD, Chairman and CEO, Novartis AG, Switzerland

"[The] 3-D approach is in use at many levels of the Estée Lauder Companies with excellent results. This down-to-earth book is packed with striking examples . . ."

—William Lauder, CEO, the Estée Lauder Companies

"At last, practical advice on how to overcome obstacles that prevent us from getting to yes."

—Roger Fisher, coauthor of Getting to Yes

"3-D Negotiation is a brilliant and rigorous exposition of key bargaining strategy techniques from two masters of negotiation. . . . I have used their advice to great success in the complex health care environment

—Paul F. Levy, CEO, Beth Israel Deaconess Medical Center, Boston

"3-D Negotiation is simply the most sophisticated and practical guide to negotiation ever written. Its many fascinating case studies show you exactly how to apply its powerful method."

—Mathias Doëpfner, CEO, Axel Springer, one of Europe's top media companies

About the Author
David A. Lax is a principal of Lax Sebenius LLC, a negotiation strategy firm. James K. Sebenius is a principal of Lax Sebenius LLC, a negotiation strategy firm. Sebenuis is also the Gordan Donaldson Professor of Business Administration and Director of the Negotiation Roundtable at Harvard Business School.

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Most helpful customer reviews

17 of 17 people found the following review helpful.
53-D Negotiation in a 1-D World
By Michael A. Lally
3-D Negotiation: Powerful Tools to Change the Game in Your Most Important Deals by David A. Lax and James K. Sebenius is not the book for Gordon Gekko types, practiced in the simple tactics of win-lose haggling. This book is the The Art of War for deal making. Like Sun Tzu for strategy, 3-D Negotiation is the primer on creating deals with lasting value. Anyone that has ever bought, sold, or traded anything will gain something with even the most cursory read of this work.

3-D Negotiation is a book that will become dog-eared, highlighted, notated, and underlined. This is a reference that you will return to again and again. It is very clearly written in a way that is accessible to everyone. Each point is illustrated with a relevant and detailed real-world (and often personal) example from the authors.

The authors are both graduates of Harvard Business School, co-founders of Harvard's Negotiation Roundtable and developed the executive program on strategic negotiation at the Business School. They have decade's worth of deal-making experience and analysis between them.

Lax and Sebenius take a contrarian approach to much of the current thinking and teaching on negotiation. They seek to move us away from the familiar win-win and win-lose tactical approaches and help us understand negotiation along the following dimensions:

* 1-D: At the Table - tactics

* 2-D: Design Value Creating Deals - getting "below the surface to uncover the sources of economic and non-economic value.

* 3-D: Away from the table - the setup - setting the table - "ensuring that the right parties have been approached, in the right sequence, to deal with the right issues that engage the right set of interests, at the right table..., at the right time, under the right expectations, and facing the right consequences of walking away if there is no deal."

This book focuses heavily on the deal design and setup dimensions. Throughout, the authors reinforce the concept that roadblocks in any one dimension may often be solved in another dimension. The focus is on crafting deals that create long-lasting value for all sides.

3-D Negotiation goes well beyond simply waiting for the other side to talk first once you are all sitting together at a table. Negotiation takes work. It takes planning. It takes analysis and research. And most of all you have to listen. If you are serious about learning the craft of deal design that creates lasting value, Lax and Sebenius are here to help.

The authors have created a comprehensive methodology to deal making. To start, they recommend you complete a 3-D barriers audit "to determine what stands between you and the deal you want." An audit consists of the following exercises:

* Assess the barriers to the setup

* Create a detailed "map" of everyone involved, their roles, their full interests and their best no-deal options

* Plan the sequence of events and process choices

* Analyze and understand all the barriers to deal design

* Analyze and understand any "tactical and interpersonal barriers"

They offer the following recommendation: "to help organize the elements of your strategy, map backward from your target deal to the deal/no-deal balance that will most likely induce [the other parties] to make this choice, and then make your way back to the current situation. This enables you to determine the actions you must now take to face them with the right deal/no-deal balance."

As a helpful exercise, they recommend writing the victory speech for your counterparts. The speech should include the reasons "why the agreement they made with you is smart, fair, reasonable, and better than the alternative."

Once you have the end clearly in focus you can then work backward to "craft a 3-D strategy". A 3-D strategy is "aligned combination of moves away from the table, at the drawing board, and at the table in which you":

* Set up the right negotiation

* Design value-creating deals

* Stress problem-solving tactics

In closing, I've had the opportunity to use some of the ideas offered in this book during recent negotiations with a potential vendor. We created a 3-D strategy after we looked at all the players and their no-deal options. We understood as many of the barriers as possible. We quickly identified the ZOPA (zone of possible agreement) and have been living in that zone trying to iron out all the details.) I've found myself picking this book up from time to time and leafing through it. Every time I do, I pull something useful out of it. Their methodology works. We are successfully building a solid partnership that creates and ensures value for both parties for years to come.

11 of 11 people found the following review helpful.
5Taking negotiation beyond us vs. them...
By Thomas Duff
Most books on negotiation that I've read focus on the tactics you use when you're face-to-face with the opponent. But what if you take a step back and shape the negotiation before you even show up? That's the general direction of 3-D Negotiation: Powerful Tools to Change the Game in Your Most Important Deals by David A. Lax and James K. Sebenius. I can see where this would give you a step up in numerous situations...

Contents:
Part 1 - Overview: Negotiate in Three Dimensions; Do a 3-D Audit of Barriers to Agreement; Craft a 3-D Strategy to Overcome the Barriers
Part 2 - Set Up the Right Negotiation: Get All the Parties Right; Get All the Interests Right; Get the No-Deal Options Right; Get the Sequence and Basic Process Choices Right
Part 3 - Design Value-Creating Deals: Move "Northeast"; Dovetail Differences; Make Lasting Deals; Negotiate the Spirit of the Deal
Part 4 - Stress Problem-Solving Tactics: Shape Perceptions to Claim Value; Solve Joint Problems to Create and Claim Value
Part 5 - 3-D Strategies in Practice: Map Backward to Craft a 3-D Strategy; Think Strategically, Act Opportunistically
Notes; Authors' Note; Index; About the Authors

Lax and Sebenius have extensive experience in working with corporations negotiating multi-million dollar deals, and from that base they have evolved the idea of 3-D negotiation. Basically, you need to look at your deal-making in a multidimensional way instead of just trying to hammer the side across the table. In some cases, this may mean that the party you're trying to do the deal with isn't even the right customer you should be approaching. Or perhaps the no-deal option of the other side is still better than what you have to offer. What then? These guidelines, if followed, can make your time at the table much more productive, and allow both sides to come away with what they need and/or want in the deal.

The authors don't completely ignore the strategy of what plays out when the parties are face-to-face. Such things as understanding the Zone Of Possible Agreement (ZOPA) and being aware of the reciprocity factor will keep you from giving up too much too soon. But keeping the deal from quickly becoming a value-claiming effort can lead to possibilities that aren't necessarily envisioned up front. There are plenty of examples from real companies and real deals so that you can see how it works in real life...

An excellent read that will allow you to look at your next deal as more than a win-lose proposition...

14 of 15 people found the following review helpful.
4Insightful & essential
By Adam Neiman
As a very fast-moving entrepreneur, I have to negotiate constantly. I'm always on the lookout for good ideas to improve the deals I make. Frankly, I don't need yet another book proclaiming that "win-win" is the answer or, alternatively, that everything "starts with no." Obviously "no" has its role and you're looking for an agreement that works for everyone and that makes others want to keep on dealing with you. But I'm getting a little tired of negotiation books with these obvious messages. So, when I picked up 3-D Negotiation, I realized that it represents something different. Not
just war stories and platitudes, but a very practical approach, clearly expressed and based on a lot of experience. The authors stress the importance of the right "setup" moves away from the table before you even begin the process at the table. They offer lots of examples to clarify what they mean. This book is a standout.

http://astore.amazon.com/amazon-book-books-20/detail/1596591013

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127 Hours Directed By Danny Boyle

127 Hours

127 Hours Directed By Danny Boyle

List Price: $29.98
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Product Description

From Academy Award®-winning director Danny Boyle (Slumdog Millionaire) comes the powerfully uplifting true story of one man's struggle to survive against mountainous odds. Aron Ralston (James Franco) has a passion for all things outdoors. But when a falling boulder traps him in a remote Utah canyon, a thrill-seeker's adventure becomes the challenge of a lifetime. Over the next five days, Ralston embarks on a remarkable personal journey in which he relies on the memories of family and friends--as well as his own courage and ingenuity--to turn adversity into triumph!

Product Details
  • Amazon Sales Rank: #9135 in DVD
  • Brand: Twentieth Century Fox
  • Released on: 2011-03-01
  • Rating: R (Restricted)
  • Aspect ratio: 1.85:1
  • Number of discs: 1
  • Formats: AC-3, Color, Dolby, Dubbed, DVD, Subtitled, Widescreen, NTSC
  • Original language: English, Spanish
  • Subtitled in: English, French, Spanish
  • Dubbed in: French, Spanish
  • Dimensions: .0 pounds
  • Running time: 94 minutes
Editorial Reviews

Amazon.com
Aron Ralston (played by James Franco) is traipsing alone through Utah's Canyonlands National Park, minding his own sweet-natured, loosey-goosey business, when an errant step drops him into a crevasse. That in itself wouldn't be so bad if he hadn't managed to get his right hand stuck between a heavy boulder and the side of the cavern--a cavern that will be his grave, if he doesn't figure out how to get himself out. Danny Boyle's film of this real-life 2003 incident builds up to what we all know is going to happen: Ralston must sever his arm between his elbow and wrist, after a few long, lonely days of avoiding the idea. (Superb casual line delivery by Franco: "So I found this great tourniquet….") Because this is a film by the director of Slumdog Millionaire and Trainspotting, we can expect a barrage of visual high jinks, despite the fact that this story would seem to be a simple tale of a man stuck in the desert. Boyle deploys flashbacks and fantasies to fill up the screen, plus he gets some mileage out of Ralston's video camera--and, of course, this director can't resist juicing the soundtrack with pop tunes, from Sigur Rós to Edith Piaf to Slumdog composer A.R. Rahman. Maybe Boyle is simply hyperactive, or maybe he's really onto something about what would happen inside the mind of a man left in extremis for an extended period (who wouldn't have a few Boyle-esque hallucinations, under the circumstances?). The cumulative effect is overbearing, but Franco's performance is spirited and endearing--he makes Ralston sufficiently "of life" that you definitely don't want to see this goofball soul be lost. --Robert Horton

Customer Reviews

Most helpful customer reviews

71 of 84 people found the following review helpful.
5A Powerful, Impactful Story
By thornhillatthemovies.com
"127 Hours", director Danny Boyle's ("Trainspotting", "28 Days Later") follow-up to "Slumdog Millionaire" is a near great film. I honestly can't tell you the last time I was so moved by a piece of celluloid. "127" has created both pleasant and nightmarish memories, memories that will stay with me for many, many years to come.

Aron Ralston (James Franco) quickly grabs some supplies and heads out to his favorite spot, the canyons near Moab, Utah. As soon as the sun rises, he jumps on a mountain bike and heads out to explore and enjoy the great outdoors, heading to a spot some twenty miles away. He crosses paths with two young women, Kristi (Kate Mara) and Megan (Amber Tamblyn) and agrees to show them the way to their destination. Once there, they swim and dive and have fun. After a few hours, they head on to complete their individual journeys. As Aron navigates a narrow crevasse, a small boulder comes loose, causing him to fall and wedging his arm between the wall and the boulder. He can't budge it and becomes worried at the sight of some streaks of blood. Aron takes stock and has very limited food, some water, stretchy cord, a camera, a video camera and a dull knife. Before leaving for the trip, he wasn't able to find his Swiss Army knife, so he is left with a dull give-away promotional knife. He tries to chip away at the sandstone, to move the rock, but doesn't make any progress. Over the next five days and twenty hours, Aron has to figure out how to use the limited supplies he has to survive until he can be rescued. Or, on the other hand, he has to figure out if and how he can get out of this situation on his own.

Boyle starts the film by masterfully depicting why Aron, and others like him, are so eager to escape the city, eager to mountain bike in the wilderness, eager to climb rock formations, eager to backpack. When he meets the two women, they even remark about how they don't feel like they figured into Aron's day. Aron is the type of guy who actively looks for adventure and makes decisions on the spur of the moment. This is why he agrees to spend time with the young women, setting his schedule back half a day.

As soon as Aron gets trapped, Boyle has to do something to give us more details into the adventurer's history. He has to make us care about this man and he can't really do that by keeping us only with Aron for the rest of the film. As Ralston tries to assess his situation, a memory surfaces and this gives Boyle the opportunity to show us a brief part of his past. The technique Boyle uses seems more suited for films made in the late '60s. And normally, this would drive me crazy. But in this situation, these moments work, primarily because they are pretty brief. They also move back and forth between more real and more imagined settings. For instance, Aron remembers a moment he and his dad shared during his childhood. They sit on an old couch in the family home, talking. Then his dad is gone and young Aron is still sitting on the couch, but the couch now sits in the crevasse Aron is trapped in, the sand and rock walls surrounding the furniture, visible to the side.

Boyle introduces us to Aron's father (Treat Williams) and mother (Kate Burton) and the love of his life, Rana (Clemence Poesy). These moments, though brief, helps to give us insight into Aron's character and life. Because they are so brief, it is surprising that we feel we know Aron and his family so well. We really get a feeling for him and come to care for him.

A lot of the credit for the success of this film lies with Franco. For much of the relatively short running time, Franco is the only person on screen and this would only serve to amplify any poorly acted moment, any false characterization, any thing that doesn't ring true. From the first moment he is on screen, we start to understand him. He is most happy when he is explaining what some stretch of wilderness is, the history of a cavern, earning some bit of solitude to compensate for any minute of time he is forced to spend cooped up in the city. In this element, he finds peace and revels in every moment.

When he meets Kristi and Megan, Franco's smile helps us recognize he simply wants to have a good time. Sex isn't a part of the equation, he wants to share some moments with like personalities. Later, when he is trapped and has a lot of time to think, he remembers back to some moments in his life. When we return to him, Franco's demeanor and facial expressions seem to be an honest portrayal of how the young man would react. And make us feel he is really remembering these moments.

When Aron finally realizes what he has to do, Franco shows us the horror of this realization and the pain of this decision.

THE moment is both necessary and extremely difficult to watch. It is necessary because it is a part of the story. But so many other filmmakers would shy away from a frank depiction of this moment. Boyle doesn't. Without it, the story would be nowhere near as impactful. Because of it, you might have nightmares. It would be gruesome enough, hard enough to watch if he had found his Swiss Army knife. But without it... I just shudder thinking about it again.

The film ends with a coda giving us an update on Aron Ralston's life. During the moments before this, I started to tear up because he was going to be okay, because he was going to make it, something I already knew given he wrote the book this film is based on, but I was still extremely moved. And the last few moments give us a glimpse of the real Ralston and all of the people affected by this incident. Because of everything Boyle and Franco are able to accomplish throughout the film, I was extremely moved by these brief images.

Best of all, Boyle ends the film, presents this coda, in a way stylistically in tune with the rest of the journey and all of those memory flashbacks/

"127 Hours" is a great piece of filmmaking. You need to see it. You can always close your eyes if that scene becomes too much for you.

26 of 30 people found the following review helpful.
4Resourcefulness And Perseverance--A Harrowing, Yet Life Affirming, Struggle For Survival
By K. Harris
From the macabre paranoia of "Shallow Grave" to the comedic debauchery of "Trainspotting" to the disturbing creepiness of "28 Days Later" to the fanciful romanticism of "Slumdog Millionaire," director Danny Boyle has made kinetic films that really connect to the viewer at a visceral level. Very much a visual stylist, Boyle uses every tool at his disposal--quick cut editing, frantic camera movement, fantasy sequences, jarring music--to really delve into the emotional core of whatever story he is telling. At first glance, "127 Hours" would seem an odd follow-up to the Oscar winning "Slumdog." Stripped down to the most primal level, "127 Hours" is one of the simplest, most straightforward narratives you're likely to encounter. And yet, through the technical bells and whistles and an earnest James Franco performance, you are immersed in a world of madness, desperation, perseverance, hope, struggle and ultimately survival. And there is no denying that this very matter-of-fact tale packs a punch!

Franco plays real-life adventurer Aron Ralston. In 2003, the reckless Ralston set off to explore Utah's Canyonlands National Park. No one knew where he is going and safety was secondary to fun in Ralston's blissed-out commune with nature. While negotiating a crevice, a boulder dislodged and trapped Ralston's arm stranding him in isolation within the earth. The film then documents Ralston's dilemma for the next 127 hours. With limited supplies and no mobility, Boyle makes the most of his claustrophobic environment by inviting us into Ralston's mind. And the primary success of "127 Hours" is that it really traps us within this confined space as well. We're there to the bitter end where survival and sacrifice meet at a crossroads.

In many ways, I wish people cold go into "127 Hours" with no expectations and forewarning of what is going to happen. I know that's naive. Ralston's tale is certainly public domain--reported on TV, the subject of books and news features. In fact, the entire film is marketed around the gruesome turning point in Ralston's struggle. This decisive act that spared Ralston's life is so harrowing and Boyle does not shy away from its unpleasantness. But the promise of this scene lingers over all that proceeds it. We are biding time for this ultimate act. We know what's going to happen and we know it's going to be graphic--everyone has told us so well in advance. But that sequence is so strong, it has come to define the entire movie. "127 Hours" has literally come to be described as "the movie where he......." (I, for my part, have resisted divulging this point--although you can read it everywhere else, including the product description and other reviews).

Franco does a great job making us root for Ralston. Impetuous and somewhat irresponsible, this thrill seeker didn't take the necessary precautions advisable. He thought he was immune to the dangers inherent in the mountain. But Franco makes him such a life force, you want him to be the victor over his poor decisions. His whip smart survival instinct keeps him alive and he never gives up. But as he faces mortality, he comes to understand his shortcomings and even faces visions of the future. His videotaped proclamations to his family are the emotional highpoint of "127 Hours." Franco is a physical actor and acquits himself well in the adventure scenes--but it is the immobile moments that showcase an interior to Franco that hasn't always been on full display in other films. Boyle takes full advantage of Franco and delivers one of the year's most effective human dramas. Stunning in its simplicity, "127 Hours" has an energy and vitality that make it stand out from the pack. KGHarris, 11/10.

18 of 22 people found the following review helpful.
4Resourcefulness And Perseverance--A Harrowing, Yet Life Affirming, Struggle For Survival
By K. Harris
From the macabre paranoia of "Shallow Grave" to the comedic debauchery of "Trainspotting" to the disturbing creepiness of "28 Days Later" to the fanciful romanticism of "Slumdog Millionaire," director Danny Boyle has made kinetic films that really connect to the viewer at a visceral level. Very much a visual stylist, Boyle uses every tool at his disposal--quick cut editing, frantic camera movement, fantasy sequences, jarring music--to really delve into the emotional core of whatever story he is telling. At first glance, "127 Hours" would seem an odd follow-up to the Oscar winning "Slumdog." Stripped down to the most primal level, "127 Hours" is one of the simplest, most straightforward narratives you're likely to encounter. And yet, through the technical bells and whistles and an earnest James Franco performance, you are immersed in a world of madness, desperation, perseverance, hope, struggle and ultimately survival. And there is no denying that this very matter-of-fact tale packs a punch!

Franco plays real-life adventurer Aron Ralston. In 2003, the reckless Ralston set off to explore Utah's Canyonlands National Park. No one knew where he is going and safety was secondary to fun in Ralston's blissed-out commune with nature. While negotiating a crevice, a boulder dislodged and trapped Ralston's arm stranding him in isolation within the earth. The film then documents Ralston's dilemma for the next 127 hours. With limited supplies and no mobility, Boyle makes the most of his claustrophobic environment by inviting us into Ralston's mind. And the primary success of "127 Hours" is that it really traps us within this confined space as well. We're there to the bitter end where survival and sacrifice meet at a crossroads.

In many ways, I wish people cold go into "127 Hours" with no expectations and forewarning of what is going to happen. I know that's naive. Ralston's tale is certainly public domain--reported on TV, the subject of books and news features. In fact, the entire film is marketed around the gruesome turning point in Ralston's struggle. This decisive act that spared Ralston's life is so harrowing and Boyle does not shy away from its unpleasantness. But the promise of this scene lingers over all that proceeds it. We are biding time for this ultimate act. We know what's going to happen and we know it's going to be graphic--everyone has told us so well in advance. But that sequence is so strong, it has come to define the entire movie. "127 Hours" has literally come to be described as "the movie where he......." (I, for my part, have resisted divulging this point--although you can read it everywhere else, including the product description and other reviews).

Franco does a great job making us root for Ralston. Impetuous and somewhat irresponsible, this thrill seeker didn't take the necessary precautions advisable. He thought he was immune to the dangers inherent in the mountain. But Franco makes him such a life force, you want him to be the victor over his poor decisions. His whip smart survival instinct keeps him alive and he never gives up. But as he faces mortality, he comes to understand his shortcomings and even faces visions of the future. His videotaped proclamations to his family are the emotional highpoint of "127 Hours." Franco is a physical actor and acquits himself well in the adventure scenes--but it is the immobile moments that showcase an interior to Franco that hasn't always been on full display in other films. Boyle takes full advantage of Franco and delivers one of the year's most effective human dramas. Stunning in its simplicity, "127 Hours" has an energy and vitality that make it stand out from the pack. KGHarris, 11/10.

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