4 things to do in your 20s
The defining decade. That is what Meg Jay calls it. The ages between twenty and thirty are crucial in a woman’s life. It gets confusing, and it never gets better. You make mistakes and realize who you do not want to be. It is also the age that you are supposed to build a career or business, grow it to success. Don’t forget family as well. Your biological clock starts ticking, and children start getting cuter. Your social circle changes and you go from young adult to a working mother and wife. All in the same number of years it took you to properly learn and write English. Well, there are some pointers that Meg Jay gives in her TED talk, “Why 30 is not the new 20”. The same were replicated in her book “The Defining Decade”, but I do not want to be a spoiler (unlike some GoT fans). Here, however, is a tease of what I picked up. Always invest in who you want to be It does not matter whether you recently graduated and are jobless, or whether you have this amazing opportunity to do what you love. Always keep growing and maturing into the general direction that you want to end up in. That means that you do not have to take that boring unpaid internship that does not really interest you. Keep collecting your identity capital. That way, when you are asked who you are, you can state what exactly influenced you to be yourself. There’s no need being a Scandal fan if you cannot really live it. What’s the fun in that? We’ve shared some more ideas were given in an earlier article. So, really, you have no one to blame but you. Those that are farthest from your reach are the most helpful Most people think we are who we spend time with. That may be true when it comes to shaping your character, but it’s not entirely true for career and business. The weakest ties can come in handy. Your cousin’s friend’s wife may just be the ideal person to get you that dream job. And no, it is not cheating the system if you are qualified for the job. It is called networking. And really, it’s no time to play niceties with your career. Be ruthless in getting those connections going. Extremely nice girls never get the corner office. You have to get your hands dirty (the good kind, though). Own your lifestyle So many people change who they are to fit into what society expects of them. Once you know who you are, do not cram yourself into someone’s box or hide your light. I’m sure we’ve all seen that meme of an orange piece fitting into a garlic bulb. The strongest words are expressed in the simplest of pictures. Once you get that job, express yourself. If you are a creative person, go ahead and do you, darling. Be that leader that you are in your church. If you are a night owl, take up night shifts. Customize your life to your own needs. Truth is, if you don’t, no one will care enough to do it for you. Never ever compare your life to anyone’s Not only is this insulting to God, it is also a lie. Especially on social media. People will only show you an amplified version of the best in their life. You don’t get to know if they are happy or not. Just keep at your gift, work on it, keep your head down and keep going, you know, like a shark. Your actions will speak for you. The whole point of this is, in your 20s, you get to make changes and set habits that may be hard to break. Use them well. You never know when winter would come.
“You create your own luck by working hard”: Lessons from international fragrance and body care brand, Malée
If you’re part of the SLA community, it’s likely that you have big dreams just like Zeze. Enormous dreams. Huge ones. The “I want to be Africa’s answer to L’Oreal” kinda dreams. That was Zeze’s dream for her healthy luxury fragrance and body care brand Malée, and over the last few years she has taken major steps to pursue that vision. Go girl. But how do you get to that point? How do you give yourself the right tips and stretch yourself? We know, it sounds quite overwhelming right? That’s why Zeze came to #SheHiveLondon to break to down for us, and lucky for you —we’ve got some of the best snippets from her talk. (By the way, nothing beats hearing all the gist for yourself in person —so try and make it to a #SheHive event near you, we’re in Lagos this October, so don’t dull yourself and get your ticket now). First of all, Zeze wouldn’t take no for an answer Even when pros like her college marketing professor told her that there was no real opportunity for a brand like Malée, it didn’t stop her. She was relentless from day 1, travelling across South Africa to find hotels that she could partner with to stock her brand, and giving them products on consignment. Zeze took a step of faith and learned the ropes as she went along, looking for every opportunity to get her high-end, value for money product into the hands of her customers. She also went to major trade shows in the beauty and fragrance industry, such as Top Drawer in order to meet potential retailers who could stock Malée in their stores. Looking back, Zeze knows that no experience goes to waste From working in the stockroom of Faith Shoes, she learned the ropes of retail and running the store. She reminded us to “count everything you know today as something that will prepare you for tomorrow”. We create luck by working hard, and within a few years her hard work began to pay off. Malée was featured on CNN in 2011, giving it some major exposure. But that was just the beginning. By 2011 Malée had won two awards, and by 2012 it was featured in one of the world-leading trend forecasting websites Trend Bible, confirming that Malée would be the next big thing. But building a successful business doesn’t come without its challenges In the same year, Zeze launched Malée’s first physical store and manufacturing facility to help other small businesses create new products. Shortly afterwards, she had to rethink her business model, and make some major changes. That included closing the retail store and manufacturing facility, which was difficult, but it was the right thing to do for Malée. It be like that sometimes; things change. Accepting that you don’t know it all is part of being a successful business woman, and it keeps you humble. Shortly afterwards, Zeze invited four of the smartest people she knew to South Africa to give her what felt like her own personal Business School crash course. Ladies, this point is key —build on your strengths but also make sure you’ve filled major skills gaps, there’s nothing wrong with needing a bit of help. A true mogul never stays down for long After two years of hustling hard to bring Malée into the UK, it will now be stocked at some of the largest, most influential retailers: Harvey Nichols and Fenwick. A good hustle isn’t enough to get your products in stores though, you also need a unique product, and for Malée, their high-quality, healthy, authentic African-inspired range is what made all the difference. Get to know desperation Sounds crazy right? Get to know desperation, so that you can ignore it. Too many times we let desperation drive us to making the wrong choices. Being able to tell when desperation is driving you instead of passion and common sense will save you time, money, and maybe some tears too. Stay inspired and completely focused on your goal: that is what will sustain you when things get really tough. We couldn’t leave this post without talking about the CA$H Capital is one of the major things on any entrepreneur’s mind, after all there’s a lot we can do with money. We all dream of getting that magical cheque that will sort everything out, but Zeze suggests it’s best to start with what you have now. Save all that you can, be smart with your money and even if you can only make one product, one is enough to sell and test whether people actually want to buy your stuff. One sale might just lead to someone pre-ordering a large quantity, but you never know unless you try. It’s called bootstrapping my friend, and most times, having limited resources actually helps us to make better choices.
Starting a Business: The Very First Step
Ready to be an entrepreneur but confused about where to start? Do you want to wake up every day doing something you love? Are you ready to be your own boss? Call the shots? If you answered yes to any of those questions, then you just might be ready to be an entrepreneur. But wait…do you know the first step in starting your own business? Before you run out and buy a $5,000 domain name, read this free guide to get you started down the path to financial freedom and personal fulfilment. This free guide walks you through the very first step in starting your own business: coming up with an awesome idea that sells. In this guide, you will find: Soul searching questions to help you pin down a business idea that is the right fit for you The main criteria used to judge a good business idea Stories and advice from women just like yourself Business ideas you can start today The secret ingredient that all great ideas have in common No one ever said starting a business was going to be easy, but it can be extremely rewarding. Make sure you start off on the right foot by downloading this free guide today. It walks you through the first step every entrepreneur needs to know before embarking on their exciting journey! Don’t delay! Get your copy today. So how do you download this free guide? Easy – just fill out the form below to join our community and get access to this guide and AWESOME weekly content. [ninja_form id=21]
Pricing as a start-up: Where do you begin?
You finally registered that business or online store, and already considering setting up packaging. Or maybe your website is up and running and you’re ready to pull out all stops to get your marketing underway. But there’s just one thing missing, how much should your products or services cost? Pricing isn’t easy; there are several factors to consider. You don’t want to seem too expensive and therefore alienate your target market. But you also don’t want to price it so low that it connotes less quality or cheapness. So what’s a girl to do? We all know that end at the end of the day, you’d want to cover your production costs and still make a profit. Because we all know those red bottoms won’t buy themselves. However, pricing has to be based on the value transferred to customers for using your product or service. Consider the cost of production and make comparisons between your prices and that of competitors. A general rule of thumb is to use the 10% rule by using the customer’s derived value and adding 10% to it. Got it? Good. Let’s explore some more. Know your customers/clients The better you understand your customers’ needs, the more accurate your pricing will be. Looking to your competitors for a pricing comparison should be based on the assumption that their pricing is ideal. Your competitors may be over or even under charging. So it’s still important to do a personal cost analysis and figure out the pricing that works best for you. Is your pricing above or below theirs? Does location, staff, size of the company, quantity, and quality of the products come into play? These are all worthwhile questions you should ask when looking to your for answers. “Profit is not something to add on in the end, it’s something to plan for in the beginning” – Megan Auman Price sensitivity It is important to note that clients and customers will only pay more if they have the assurance of value. So don’t be scared to test out several different prices at the beginning. It’s the same when you walk into a boutique, see a dress and instantly know it would be far cheaper at a regular clothing store. But because it’s an exotic brand, you believe it is of better quality and therefore, worth the high price. This is where price sensitivity comes into play. Price sensitivity is the degree to which the price of a dress in this analogy, affects the customers’ willingness to buy it. I like to call it the fine line between “too good to be true” and “dirt cheap” and therefore a bargain. You do this by offering a different price, typically with a 5% difference, to individual customers for the same service or product. The general idea is that if you aren’t getting pushback from at least 20% of your customers, then you’re on the right track. Also, it is important to note that there is less price sensitivity when the product is unique and hard to find. So make sure to distinguish yourself from competitors in a big way. The price would be worth it if the boutique is making just one dress per size. The exclusivity is almost like getting a custom-made dress. “The reason it seems as though price is all your customers care about, is because you haven’t given them anything else to care about”- Seth Godin Smaller versus bigger Giving customers a choice between several tiers in pricing helps establish how well your products/services are priced. Have you ever come across the low, middle, and high price offerings? This is called ‘Goldilocks Pricing’. With this, you get to choose between the inexpensive but not ideal and the expensive but full package. You then end up with the pricing that is just the right fit, like your very own Cinderella shoe. It typically has just enough features to get you started and is often the bestseller. More often than not, it’s a few steps away from that ‘premium’ package which you can upgrade to anytime. For instance, if you sell an 80-gram tub of shea butter for R60, then a 160-gram tub would cost 10% less than buying two 80-gram tubs. Chances are, the customer will go for the bigger tub which means more money for you, provided the production cost is not higher. Similarly, a “buy 3 products and get the cheapest one free” sale in a specific high-end product range/ service market will ensure that you still get your money’s worth. Make sure that you always capitalise on these opportunities by offering any extra features that come with the package. For example, 10% to upgrade to the premium package from a 7-day free trial. In summary, if your product or service is amazing, of standard quality and worth the price, customers will come flocking. Good luck!
Twitter Chat with Carmen Attikossie: Starting a fashion line with no money (Sept. 22nd)
Don’t miss another event! Join our community and always stay informed. Ready to plunge into entrepreneurship but you have no money? Interested in starting a fashion line but not sure where or how to start? Wondering how to build your company while completing your studies? If you answered yes to any of those questions, then you can’t miss this twitter chat. On Thursday September 22nd, we will be chatting with Togolese-American, Carmen Attikossie, founder of Cartik, an ethical fashion line. Follow She Leads Africa on twitter and use the hashtag #SLAChats to ask your questions and participate in the discussion. Topics that we’ll cover: How to take the plunge into entrepreneurship Getting your company started with little to no money Balancing your studies with a budding company What it means to have an ethical fashion line How to work with artisans, manufacturers and clients that are in various countries Twitter chat details: Date: Thursday September 22nd, 2016 Time: 1:00pm New York City// 6:00pm Lagos Location: Follow She Leads Africa on twitter and use the hashtag #SLAChats About Carmen Attikossie Carmen Attikossie recently graduated from St. Catherine’s University in St. Paul, Minnesota, USA with a degree in International Relations and French. She is the founder of Cartik, an ethical fashion/ social entrepreneurship brand that works with artisans in Ghana and her home country of Togo. Carmen has a deep passion for Africa’s economic development and is currently working on growing and expanding her company.
May the odds be in your favour, financially
Fans of the Hunger Games series will be familiar with the phrase, “May the odds be ever in your favour”. While most people may understand odds to mean luck, in truth, odds have nothing to do with luck. And not only can they be applied to a game of war, they can also be applied to real life. You see in mathematics, odds = probability and what is life but a sequence of numbers. Everything that exists is literally a number. From statistics which study behavioral patterns, population, litres, volume, distance, percentages, angles, probabilities, averages, binaries used in coding and so on. In the grand scheme of things, we’re all numbers, 1 in 5 million, 1 in 7 billion (you get the gist) and finance is the ultimate game of numbers. I’m neither a scientist or billionaire, but it’s pretty evident that those who acquire financial success aren’t necessarily the most cunning. They’re not the most brilliant or hardworking people on the planet either. Rather, they’re those who realized early the math of financial success and tilted the odds in their favor. So briefly, let us look at the basic advantages of the world’s richest: Born with great socioeconomic bearing Better looking or smarter than the average Attended good schools Charted their career according to the predicted needs Remained consistent Number 1 already rules out 90% of the world’s population. You see, according to UNICEF, only 10% of the world’s population fall into the category of being above average socioeconomically. Number 2 cancels out 75% of the world population. Only roughly about 25% or less of the world’s population are deemed to be above average intellectually and physically. Number 3 is more within your control. But it is linked to your socioeconomic bearing, intellectual abilities, and decisions made by your parents and guardians. That leaves number 4 & 5 which are actually 96% within your control. So forget what you think you’re good at (technology proves that the world is constantly changing) and what everyone is doing. Instead, look into what the future looks like. Think, what are the strongest sectors that will stand the test of time? What are the most financially sustainable sectors? And similar questions. Once you have figured what this is to you, factor in the skills that you possess. At this point, you’re probably saying “Wait! You said forget what you think you’re good at!” Yes, I meant like knowing how to make good hair or being great at drawing. Innate skills such as creativity, musical talent, numbers, patience, social skills and others are inherent and not easily learned. They are your talents. Now, with these points in mind, chart a future for yourself with timelines and remain consistent. Let’s face it, without the advantages above, the odds of you cashing out big time before 30 are a lot slimmer. So ladies, let’s manage our expectations and never give up!
5 unsexy business ideas to get you started
Quirky title, hey? You see, when many of us ladies venture into business, we often look for the cleanest, neatest and safest sort of ideas. However, on the flip side, the dirty, messy, riskier ventures have a tale of profit to tell. Consider some of the ones below. Farming Many young people are dropping suits and ties for muddy boots. Guess what, turns out farming is feeding the nation while raking in returns. You can consider mass farming of basic food like onions, tomatoes, fruits. You can also venture into unique vegetables especially with the current eating-healthy movement. If those options don’t rock your boat, consider growing fruit and flowers to export to Europe. A business that provides basic needs, that is food, shelter, clothing has a higher retention rate in the market. You can lease land next to a good source of water, hire a few hands to help and get a truck to take the produce to the market. Better still, you can make friends with a broker who would charge reasonable rates. Just as with all businesses, ensure the market is ready for you. Do your homework and talk to a few farmers to get a sense of the industry. Interesting enough, ventures such as pig farming, snail farming, and even maggot rearing have found their place. Definitely not an idea you probably had but for the record, it’s working. Here’s more proof that farming is the new cool. Running a school This is another brilliant idea that works due to the rising population. There’s already a gap, just bridge it. It could be in extra curriculum activities or mode of delivery. You could start off with a day care or kindergarten program and keep working on the next grades/classes as you go along. Most schools started off like this. Worth noting though, is that the running expenses of a school are high, especially once it grows full-blown. Whether with the little ones in nursery school, pre-teens or teens, some chaos is bound to happen. Also, be ready to deal with the parents. Still, the returns are good and with consistency, it’s worth a try. Recycling/waste management Most countries in Africa seem to have a garbage collection problem. Of course, except Rwanda (we’ve got a national cleaning day, so don’t crucify me yet!), Johannesburg and Mauritius. Generally, waste isn’t managed properly and the rising population in major cities can attest to this. This thought lends itself as a business opportunity for an entrepreneur thinking of a practical and profitable solution. When it comes to business, other than maximizing profit, solving a need creates further sustainability and passion for the business. If you are sick of all the littering and dirty neighbourhoods, then piece that plan together. Plus, you don’t need to roll out in the city only. Consider smaller towns with bustling activity. You may need to talk to local authorities such as city or town councils, negotiate landfill rates and invest in trucks, rolling carts, incinerators and casual labour. One word of caution though, a research on existing cartels involved in this job is advisable. This will give you an edge and help you avoid being maliciously ousted from the business. Manufacturing or importing human hair wigs and extensions Everyone I know who ventured into this business with a passion is smiling at the profits. You just need to identify the source of the hair, which could be India or China. For the record, Brazilian or Peruvian hair is just branded as such but most of it is from China. Read more about this here. There are several varieties but once you find a reliable source, especially a manufacturer with ready-made hair, all you’ll need is some branding. You can actually do this locally and place your product in the market. Engage in some rigorous advertising online, in beauty shops or salons and there goes another (hairy) business idea! Running a funeral home I’m not going to risk sounding morbid, so this point is going to be brief. This may not need much explanation. With life, comes the inevitable end. You’ll definitely need to be tough to do this as you’ll have to deal with emotional families and friends still coming to terms with the death of a loved one. Undoubtedly, you’ll need ample space to accommodate an embalming room disconnected from the main home. You’ll also need a storage room for client files, a meeting room and possibly a room displaying options of caskets. You’ll need qualified professionals, dressing tables and materials and recommended chemicals, powders, and creams to preserve the body. It is estimated that one can break even in two years in this kind of business.
4 genius business tricks to steal from Genevieve Nnaji
It’s obvious to every Nigerian it-girl and our African sisters that ignoring Genevieve Nnaji’s pristine and effortless beauty is a bad idea. This is regardless of whether or not you watch her movies! Luckily, there’s a lot to learn from her streamlined, hyper-organized disposition. Even if we never completely get it, as we’re mere mortals. Have fancy dinners with a view Yes, you heard right. Head to some trendy island, club or restaurant for dinner. It should have an amazing view and probably stocked with successful, inspiring, rich and maybe good-looking people too. The food might be a little pricey, but it’s the connections you’re paying for. It’s called networking, girl! Somehow, these celebrities seem immune to the business problems that the rest of us mortals are afflicted with. From me to you, there’s a shameless networking routine that they follow. Don’t head on starting that business without connecting with the people who are going to be instrumental to your success. Take it all off… the make-up I mean This is debatable, but it feels even better to take the make-up all off sometimes. This is especially useful when the Nigerian heat perpetually threatens to melt it all off anyway. Genevieve gives us the no-makeup look often enough to keep us envious and wanting for more. Being a celebrity or even the owner of that unique start-up may be a good reason to have flapping eyelashes, gold-toned smoky eyes, and perfectly done nails… you know for the optics. But how about you shake things up a bit and get us all confused by actually getting down to work? Like, if you’re not doing anything lucrative besides getting your face done, what are you even doing? Be authentic. It’s all that matters. I am really eager to know the stories behind movies with impossible titles —who decided that “Blackberry Babes” was a good name for a movie? Okay, my argument is —why spend much money scouring for classics when you can watch an affordable ‘sub-standard’ movie? Here’s the thing, as an aspiring or already established business woman, you’ve got to be authentic, otherwise, you’ll ruin your own magic in no time. You’ve got no business copying every new or trending business idea. Be real, girl! Be unique! Talk less, unless of course, you’re telling us about what you do Traumatic consequences aside, being a little secretive is a necessity . Especially, if you’re involved in ventures that don’t feature story-telling as a requirement for practical reasons (like being an OAP or writer). If your business is not one of those, the least you can do is choose to give us short, simple, or playful dozes of your life every other time, just to add a little charm to your image. Minimize that icky feeling that comes with people knowing too much, too often about your business. In summary, all you need is to devote yourself to learning/mastering your craft, tirelessly networking, being authentic and a little tight-lipped when necessary. It’s pretty simple and practical.
What Jhene Aiko showed us about divorce in Nigeria
Remember the not-so-shocking end of Jhene Aiko’s marriage to her Nigerian husband, DotdaGenius? It really brought to the forefront how most Nigerians view divorce. The lessons to learn from this bitter and public divorce are numerous. Let’s look at what not to do when a relationship goes sour. Don’t ever feel the need to air your dirty laundry in public For absurd reasons like getting “support”, even if it’s from outsiders, people tend to share more than they should. Jhene Aiko sort of did this on social media after the divorce news broke. Rather than do this, how about settling the rift(s) with the other party without the prying eyes of people who may not really care? Especially as we all agree that there’s some sanctity to marriage. Your value kind of diminishes when you give third parties undue vested interests in your business. Infidelity Being in an unhappy marriage is better imagined, especially when a partner is cheating. But cheating to get back at the spouse is never the best solution to an already terrible situation. Playing the two-can-play-the-game revenge tactic is never the way to go. Rather than cheat, please girl, opt out! Fear Nigerian women have this inexplicable fear of divorce. This may have been fueled by the myth that kids from “broken homes” don’t make good homes themselves. Unfortunately, there is still a never-ending stigma associated with divorce. Nigerians have a way of labeling divorcees (especially women) as rude and not submissive. It’s always the woman’s fault. Making women feel this way because a marriage didn’t work, has made a lot of women stay in unhappy relationships “for the kids”. No one wants to be stereotyped unfairly. Starting over Marriage offers some form of validation for women in Nigeria, and maybe even other parts of Africa. It is believed that irrespective of what a woman achieves, she is nothing without a man. Owing to these beliefs, even otherwise strong women would rather stay in a loveless marriage while enduring being treated badly or even cheated on. In conclusion, Nigerian women need to realise that a divorce can never be the end of one’s life. Everyone is entitled to a new beginning and even after a divorce, there’s still hope. There you have it, ladies, it’s time to have a fresh outlook on love and relationships, and marriage.
Negotiate your way to financial success Part II: Negotiation mistakes and how to avoid them
In the last segment, we discussed the essential steps for negotiation. Of equal importance are things you should not do during negotiations. Mistakes during a negotiation can hinder its success. Don’t get emotional It is imperative that during negotiations you maintain a professional stance, even when you feel undermined. For example, bursting into tears and lamenting about the unfairness of an offer can prove counter-productive. Your tears won’t persuade your negotiation partners to give you a fair deal. Moreover, emotional persuasion will not help you win your negotiation partners’ respect. It will only get them to “pity” you. You never want to start a business relationship out of pity. Pity does not get you the deserved respect in the long run. Emotional outbursts during a negotiation will hurt its effectiveness and productivity. Tip: Rather than using emotional persuasion, use objective facts. Humanize the negotiation but do not personalize it. Don’t make unsupported assertions One could be tempted to make unsupported assertions when negotiations seem to go downhill. Don’t! Using fiction to support your bargaining point during negotiations will hurt your chances of success in that deal. Remember, you will likely be dealing with savvy business individuals who most probably have researched your assertion. They’ll definitely be able to spot a fictional assertion. There is nothing worse than being unethical during a negotiation and tarnishing your reputation in the business industry. News travel fast! Tip: Prior to a negotiation, gather as much hard data as possible to support your assertions. Where relevant data is unavailable, use comparable data. When using comparable data, be transparent with your business partners. Do not disguise the comparable data as one that speaks on the matter at hand. In the same light, don’t rely on spontaneous brilliance. Prepare! Do not make spontaneous decisions Do not feel pressured to make a decision on the spot. It is perfectly okay if your negotiations require a series of meetings before reaching a bargain. Tip: Ask for time to make a well-informed decision. Do not say “No” Yes! I really meant to say do not say “no” during negotiations. Never say “no” during a negotiation, even when declining an offer. Instead, positively decline the offer. You should be able to embed “no” into the kindest phrase your potential business partner has ever heard! For example, you have been recently offered a job with an unattractive salary. Rather than emailing the employer to say “Thank you, I have decided to decline your offer,” you could do it better. Consider calling and saying, “Thank you for the offer, I am excited about the position and the opportunities it will offer. However, after reviewing the compensation package, it would prove challenging to be able to meet my financial obligations. Nonetheless, I remain open to hearing about future opportunities that will match our mutual needs.” Such an approach will allow you to continue future conversations with your potential business partners, employers, or even schools. In fact, this approach helped a friend get more financial aid from a top law school. Tip: Bury your “no” in a positive statement. Make them feel good about your response so that they barely dwell on the fact that you just said “no”. Do not give an ultimatum During negotiations, your goal at all times should be to negotiate. Yes, simply negotiate. Avoid using an ultimatum during negotiations. It sends the wrong signal that you’re unwilling to further the negotiation discussions or find a win–win scenario. Moreover, an ultimatum will put your negotiation parties on the defensive. For example, saying “this is my best offer, take it or we have no deal” is wrong. It’ll likely to make the other party believe that a negotiation ends if your offer is not met. Never give the impression of foreclosing the possibility of finding a mutually acceptable bargain. Such aggressiveness will likely be counterproductive in achieving success. Tip: Rather than give an ultimatum, which focuses on the “I,” focus on the “we,”. Express your willingness to create value for all parties while also noting the need to meet a deadline. You may consider telling your negotiators that you would like to reach a decision by a certain deadline. Such timing should, however, be reasonable. This can help you pay attention to cultural nuances (as discussed below). Such an approach will allow all parties to focus on reaching an agreement within the stipulated timeframe. Do not ignore cultural nuances It is imperative to pay attention to cultural nuances during negotiations. This could play a vital role during the value-creation process. For example, direct eye contact with negotiation parties is strongly encouraged when dealing with US negotiators. This conveys sincerity and could enhance negotiations. In China, however, such a gesture could hinder a negotiation’s productivity. Direct eye contact is considered inappropriate or rude in China. Tip: Do not apply blanket tactics during negotiations. Research the negotiation parties and be sensitive to cultural idiosyncrasies. This will help you succeed in maximizing your negotiation potential. To summarize, avoiding these negotiation blunders will improve the likelihood of a successful negotiation. It would provide the ability to realize your desired outcome. If you would like insights on a particular topic, write to us! We are listening.