Tips for Successful Negotiations

We’ve heard a lot about the importance of “deals” lately, especially with the political rise of President-elect Trump.

A release from The Negotiation Institute promoting the upcoming Women’s Insight on the Art of Negotiation (WIN) Summit offers five critical tips for success:

1. Always remember: the cost of asking is lower than the cost of not asking.
We understand that it can be nerve racking to enter into a negotiation with a superior, but it usually pays off. As Wayne Gretzky famously said, “You miss 100% of the shots you don’t take.” So how does this apply to negotiations? Essentially, if you don’t ask for it nobody will. Whether it is for a higher salary, more vacation days, or a better assignment, negotiate for your yourself. You want something, then ask for it!
2. Know what the other side has to offer and make your requests accordingly.
In other words: be reasonable. While it is smart to ask for a little more than you expect to get, don’t start your negotiation asking for way more than you could possibly expect to receive. If you know your company’s budget, ask for a salary increase within that amount. If you want a few more vacation days, don’t ask for two months paid leave so you can backpack around Europe. Have high expectations, but not so high that your request is out of the realm of possibilities.
3. Know what the job requires. Asking for more also means more work, make sure you prepare for your new responsibilities.
Just like you should know what your company can reasonably provide, you should also know what are your capabilities. We all want that raise or promotion, but we are not all necessarily qualified for it. If you negotiate for a job or assignment that you cannot successfully complete, it will damage your credibility in your next negotiation.
4. Always aim to do what is best for yourself and for the group, it leads to a more successful outcome negotiation.
We all enter into negotiations trying to get exactly what we want. However, it is important to remember that the other person or group has the same mindset. Therefore, your goal should be to achieve the best possible outcome for everyone involved. Ask for what you want, but be ready to make some concessions. If the other side is angered by how the negotiation is going, they not agree to anything at all.
5. Negotiation doesn’t just happen at the roundtable, all aspects of life and work can be a negotiated. 
You might think that you only negotiate at work, and that you only learned to do it as an adult. However, it is likely that you’ve actually been negotiating your entire life. As a kid you bargained with your parents to let you eat an extra piece of cake or stay up an hour later. In college you negotiated with your roommates about living space rules. When you got married you negotiated with your spouse about all aspects of your wedding. As a parent you negotiated with your child to get them to go to school or go to bed. So, take skills that you’ve learned from these negotiations and apply them to work. You just might be an expert negotiator and just not know it yet!

Razor Sharp: Roanoke Barber Rex Ottinger Reflects on a Lifetime of Memories

Roanoke barber Rex Otttinger has seen it all – a steady stream of loyal customers, an unruly flood and leaner times during the long-hair trend of the 1970s.

And feel free to sleep in his chair, but interruptions like phones and TV are no-nos at this barber shop. In fact, Ottinger has never had a phone in the store – and never will.

Read about this Huntington County success story in the new BizVoice.

Hoosier Farm Families Earn Bicentennial Honor from State

It’s not every day someone presents a sheepskin deed signed by a past President of the United States. Linda (Saltzman) McCall sent this image to me of her family’s farm deed, signed by James Monroe. She said she’s pleasantly surprised by the shape it’s in considering it hung in the family’s home, enduring myriad temperature fluctuations through the years.

Saltzman and her family were one of four that received Hoosier Homestead Bicentennial Awards from the Indiana State Department of Agriculture last summer – an honor reserved for those whose families have had a farm in the state for at least 200 years.

Read the article about the honorees in the latest edition of BizVoice.

Experience Eli Lilly’s Humble Beginnings at Indiana Historical Society

If you haven’t been to an Indiana Historical Society “You Are There” exhibit, you need to rethink some things. They are always artfully done and make for an incredibly engaging way to learn history.

The new “Eli Lilly at the Beginning” experience is no different. I visited the facility in November for a “Getting to Know” feature in BizVoice (stay tuned for the January/February 2017 edition). Actor Mark McNees was quite knowledgeable, both in and out of character as Col. Lilly, and helped me see Lilly in a way I hadn’t before. Like many central Indiana natives, I’ve always heard about the company and its impact on the pharmaceutical industry — and its dedication to philanthropy — but I was admittedly ignorant about its founder and his humble beginnings. This experience allows visitors to interact with not only Lilly, but his first employees (he only had three) and his son, J.K.

He developed his lab in 1876 in what is the heart of today’s downtown Indianapolis. But the industry climate was quite treacherous.

“In the papers, they called Indiana the dumping ground for bad pharmaceuticals,” McNees explained. “So they were what we call patent medicines – not patents like Lilly would have today – patents were like snake oils. So anybody could say ‘I came up with this hair elixir’ and all you needed to advertise in the paper was a testimonial.

“A lot of times they would go to a family member, who’d say, ‘I tried Uncle Joe’s hair tonic and I grew hair,’” he adds. “So they would sell it through wagons or stores. There was zero regulation at the time. Also, people were making medicines incorrectly and often killing people. We dealt with things like belladonna (deadly night shade), opium, strychnine, things like that.”

McNees relayed that Lilly grew his business largely because of his reputation for quality and consistency.

For more on the experience, which is scheduled to run until January 2018, visit the IHS web site.

2017 Legislative Directory: Get the App and Be Ready on Day One!

The Legislative Directory app is more than an electronic version of our long-standing Legislative Directory handbook. Here are some of the app’s benefits:

  • Updated and ready to use on the first day of the legislative session
  • Real time updates to information throughout the session
  • Less expensive than the book, but contains the same information
  • Legislators’ contact info can be downloaded to your phone

You can order the app online now (order through the Indiana Chamber, not the app stores). The app is now available, and you will receive download links from us for your mobile device. (We’re updating the app as information comes in from legislators throughout the month so it’s ready when session begins.) Bulk app purchases are now available too; your company contact will receive all of the download links for distribution as needed.


2017 Legislative Directory (book)

Like to keep it old school? Understandable. You can still buy the book version of our valuable guide to the General Assembly. This helpful booklet contains all the contact information you need for all 150 state legislators: their committee and seat assignments, photos, biographies and much more.

Place your pre-order online now. The book is scheduled to ship in mid-January.

Thanks as always to our Legislative Directory app and book sponsors: The Corydon Group; Duke Energy; Indiana State University and Comcast.

Call (800) 824-6885 for more information.

Dynamic Duo: Edwin the Duck Creators Named 2016 Dynamic Leaders of the Year

If it looks like a duck, walks like a duck … it’s likely a duck – as the idiom conveys. However, if it syncs with mobile apps, teaches life lessons and takes the Internet of Things to a whole new level, it might be better described as a groundbreaking, transformational gadget the likes of which the children’s toy industry has never seen.

That was the hope when Don Inmon and Matt MacBeth, two innovators with minds for engineering and a collective desire to navigate the turbulent skies of the tech spectrum, developed pi lab and its flagship product – Edwin the Duck.

Edwin is a rubber duck that includes a Bluetooth speaker, a thermometer that gauges bath water, a night light that works in tandem with apps and much more, allowing children to follow along with interactive stories, play games and enjoy sing-alongs.

Tens of thousands of units have been sold (via online and brick and mortar stores like Amazon, Apple Store, Best Buy, Target and Toys ‘R Us) and are already in the hands of children around the globe.

Read the full story in BizVoice.

pi-lab

How Will the 2016 Elections Impact Labor and Employment Policy?

UWe’re all still recalibrating after last Tuesday’s election results. While the citizenry ponders what this means for the country and the issues dear to us, the impact on labor and employment policy is a top consideration for business-focused organizations like ours.

Harold P. Coxson of the law firm Ogletree Deakins articulated some thoughts in a blog post just after election night:

What do last night’s election results mean for labor and employment policy? In the first place, it means that Republicans will control the White House and both the House and Senate.

For another, it means that President-elect Trump will select the candidate for the current vacancy on the Supreme Court of the United States, as well as seats on the 12 federal circuit courts, only four of which remain under the control of judges appointed by Republican presidents.

It also means that President-elect Trump will fill the two vacancies on the National Labor Relations Board with two Republicans, thus switching majority control of the agency on his first days in office. The NLRB’s record of historic reversals of long-established labor law precedent in areas such as joint-employment, independent contractors, waivers of class and collective actions in arbitration agreements, “ambush” union elections and micro bargaining units will, over time, be reversed.

It means the appointment of other key policy positions throughout the federal labor agencies, including the Secretary of Labor, Solicitor of the U.S. Department of Labor, Assistant Secretary of Labor for Occupational Safety and Health, and Administrator of the Wage and Hour Division. They, in turn, will be expected to roll back or recall many of the controversial labor and employment regulations, such as the recently issued Part 541 overtime regulation, the Fair Pay and Safe Workplaces (government contractor “blacklisting”) executive order and implementing regulations, and the Labor-Management Reporting and Disclosure Act’s revised “persuader activity” regulations.

The election results also represent an opportunity for Congress to promulgate regulations and pass legislation that would represent responsible immigration policy on a path to earned legalization of undocumented workers and that would repeal and replace the Affordable Care Act (Obamacare).

As a result of last night’s elections, the Chairman of the Senate Health, Education, Labor and Pensions Committee will likely remain with Sen. Alexander (R-TN) rather than Sen. Bernie Sanders (I-VT). The House Education and the Workforce Committee will be chaired by Rep. Virginia Fox (R- NC) with Rep. Bobby Scott (D- VA) likely to remain as Ranking Democrat.

Whether the election results will bring about greater bipartisanship and less political acrimony and gridlock remains to be seen. However, with Republicans controlling the White House and Congress, those angry voters who complained that “nothing ever gets done in Washington” will expect better.

So What’s Going On With Obamacare?

NOTE: This video was recorded before Donald Trump’s election, which has likely changed the course of the Affordable Care Act going forward. But these comments are on the ACA as it now stands. 

Libertarian magazine Reason interviewed its features editor, Peter Suderman, about the status of the Affordable Care Act. He explains how the rising prices will impact consumers and taxpayers. Is this Obamacare’s “death spiral?”

Engage Indiana: Event Shines Light on Using Business for Good

logo-400Our BizVoice magazine has highlighted corporate social responsibility throughout 2016. Here are some of those articles to date:

Prominent speakers will also be on hand Nov. 18 in Indianapolis at the Engage Indiana event to discuss the benefits of effective community engagement and advocacy strategy on the bottom line. Find out more information and register online.