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Effective Strategies for A Win-Win Negotiation

pexels.com Leaders like Michael Saltzstein are constantly engaged in some form of negotiation. They have to negotiate with customers, other businesses, or parties external to the organization. In many cases, they also have to participate in discussions with partners and team members. Negotiations have to be fair and well-balanced to ensure that both parties involved will benefit in the long run. This article explores some strategies that can help leaders encourage a win-win negotiation. Prepare and be knowledgeable . Before coming to the negotiating table, you must have reviewed all the information necessary for the discussion. Furthermore, it would be advantageous to have already identified the alternatives that are available for both your organization and the other side. This is only possible if proper research and analysis have been conducted. Set up multiple offers. A common mistake that has been committed time and again when it comes to negotiating is having only one offer on t...
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What business leaders are learning from the Coronavirus outbreak

Image source: businessinsider.com The onset of the Coronavirus or COVID-19 has been a shock to businesses throughout the country. Because of state-wide lockdowns and preventive measures, almost every business has had to adjust in one form or another in order to ensure the continuation of operations and secure the safety of employees. Unfortunately, not every business can operate under these new conditions. Michael Saltzstein predicts that this outbreak will force most businesses to adjust to a new reality. And while this outbreak will eventually pass, it shouldn’t stop business leaders from learning something new from this unique experience. Here are some lessons business leaders are learning from the pandemic. Business continuity plans were tested It’s hard to imagine a multinational corporation ceasing operations. That is until now. Seemingly large operations that may seem too big to stop had to grind into a halt. Businesses that have emergency continuity plans have...
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Michael Saltzstein On Insurance Policies Every Business Needs

  thebluediamondgallery.com Like every business owner, you want to scale your venture and eventually take it to the next level. But let's face it—business success is never guaranteed. Michael Saltzstein shares that even the wealthiest entrepreneurs bombed several projects over their years in business.  Does this mean you should give up your plans altogether? Of course, not! Although you can't eliminate all the risks your business faces, you can minimize potential damages through insurance protection. It protects you from severe financial losses. Depending on your policy, you could walk away from even the worst accidents, disasters, or lawsuits with minor damage. While there are dozens of business insurance policies, you might not need most of them, so don't blindly agree to everything your agent offers. Michael Saltzstein suggests looking into the following first: General Liability Insurance Depending on the nature of your business, most states will require commercial gener...
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