Business

Valuable lessons to apply to your business thinking

ONE of my favourite books is the Seven Habits of Highly Effective People by the late Steven Covey.

I've found the book and the habits discussed of enormous value over the years.

The habits are:

  • Being proactive
  • Putting first things first
  • Beginning with the end in mind
  • Thinking win-win
  • First seeking to understand before being understood
  • Synergising
  • Sharpening the saw

While these are all excellent habits, three in particular I use when entering into any negotiation.

Yes, there is a system and process, but these form the basis of the way forward.

1: Begin with the end In mind

2: First seek to understand before being understood

3: Think win win

Let's break these up.

Firstly "begin with the end in mind".

Dr Covey talks about your life. At the end of your time, what did your life look like, what did you contribute, how many have you helped and what value did you add to others?

There are also great business lessons here, as it ties directly to your ethics, as enduring success is about your character.

From a negotiation point of view, the approach here is to go into the negotiation with a clear view of the outcome or result you want to achieve, again with an ethical belief system.

I would also think of what the outcome could look like for the person opposite you at the table - is it positive or negative?

Depending on the next two, the result may actually surprise you.

Secondly, "first seek to understand before being understood". I can't tell you how many times this rule has resulted in successful negotiations for me, often with a better outcome than I'd originally thought.

Ask questions and find out what they want from the deal. By listening to what they are looking to achieve will often bring out the true reasons they are at the table. This will also build trust as you show a genuine care of their needs and wants.

Lastly, "thinking win-win". This is the ultimate in successful negotiations, because everyone is happy. No one loses - all parties move forward with a clear conscience, and a greater understanding of the respective businesses.

These transactions are always more profitable, long term, for all involved.

Topics:  business, opinion



Nine males, one female; divers watch turtles get frisky

Mating season ends this month.

One female, nine males, this is all part of nature for turtles

Unlike: the Facebook scam targeting Bundy businesses

ALARM BELLS: Cool Bananas co-owner Sharlene Gemming managed to avoid the phishing trap. Photo: Eliza Goetze / NewsMail

Scammers are targetting local cafes on Facebook

WHERE ARE THEIR PARENTS? Teen thugs terrorise streets of CBD

Kids as young as 10 banned from Macca's, throwing rocks at cars

Local Partners

WATCH: Justin Bieber grabbed in Germany

A video has emerged of singer Justin Bieber being attacked

Why The Wrong Girl is right for Jessica Marais

Jessica Marais and Ian Meadows in a scene from the TV series The Wrong Girl.

ACTOR makes the sometimes awkward character her own in new comedy.

What's on the small screen this week

Jessica Marais in a scene from the TV series The Wrong Girl.

A NEW romantic comedy debuts while footy codes ramp up for finals.

Airbourne talk drop bears, beer and taxes

Airbourne have a new album coming out and a new tour on the way.  Photo Contributed

Airbourne release album for the aussie battler

Pippa Middleton had 3000 private photos stolen

Author Pippa Middleton

Author's account hacked to access 3000 private photos

Gruen star discovers the body's limits in new hit TV show

Todd Sampson tries out MMA fighting during TV series BodyHack.

Gruen star pushes the limits in new TV series

Developers boost confidence in Bundaberg property market

Slow and steady growth has always been Bundaberg’s way

Property 200m from ocean selling for just over $100K

BEACHCOMBER PARK: Work has started on a new $19.2 million development at Toogoom.

The estate's developer is offering huge discounts for early buyers.

UPDATE: Former rodeo champ's sale rained out, now back on

Larkhill local Ken Consiglio is having an auction of most of the things on his property.

'People kept showing up and we had to turn them away'

First stages of $25 million housing development underway

New development on Madsen Rd - The Springs.

The blocks of land are much bigger than usual

Couple build their own 'tiny house' for $45k

Holly Bowen and Oli Bucher built their "tiny house" themselves, only hiring a plumber and an electrician. Photo/supplied

The house, which is built on a trailer and can be towed.

Rocky proves prime real estate in latest REIQ report

Kas Woch sold this Wood St home in Depot Hill for $107,000 in August.

A new investor's market as Rocky house prices hit lowest in state