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Podcasts The Miller Mindset

The Miller Mindset: The Art of the Negotiation Mindset

The Miller Mindset: Episode # 0019

Welcome to “The Miller Mindset”, a weekly podcast where we explore the power of positive thinking and its impact on our lives. Join me, Chris Miller, as we dive into such topics as goal- setting, overcoming obstacles, and developing a growth mindset. If you’re looking to improve your life and reach your full potential, then this podcast is for you. Don’t miss an episode. Be sure to subscribe today! On today’s show, we will be exploring how our mindset can play a huge role in the decision-making process. So let’s get into it.

Watch Episode 19 on YouTube Now!

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Have you ever found yourself struggling to make a decision, feeling stuck in analysis paralysis? We’ve all been there, but did you know that our mindset is the lens through which we view the world? It shapes our thoughts and beliefs, ultimately influencing the decisions we make in our lives.

Our minds are almost never completely made up, after all, and through negotiation, a no can easily become a yes. Think about your kid when you take them to a store. How often did they ask for something, and you said no, but then they asked again a couple of more times and you bought it for them? That is negotiation. It is ingrained in the fabric of our being.

Children certainly aren’t going to school, listening to tapes, or reading books like “The Art of The Deal” by Donald Trump. They’re simply born with the understanding that they can win us over, and they often do. Negotiations can be tricky however, but with the right mindset, you can come out on top in your negotiations just as well as you kids do with you.

First and foremost, it’s important to have an open mindset, ready to listen and to learn from your opponent in the negotiation. This means that you need to believe that you can improve and learn from your opponent’s and your own mistakes and miscalculations along the journey, and make no mistake about it; negotiation is a journey of discovery and action.

In negotiations, being open to feedback and having a willingness to adapt your strategy as needed makes all the difference. It also means not letting setbacks discourage you, but rather seeing them as the opportunities that they really are. Remember this. . . in negotiations, everything is a learning experience. Everything, and all information exchanged along the way is an opportunity to close.

Alec Baldwin did a fantastic performance in the movie “Glenn Gary, Glenn Ross” back in 1992. I don’t know if you’re familiar with it, but that movie had some terrific performances from Jack Lemmon, Ed Harris, Alan Arkin, and Al Pacino as well. In the movie, which is also a great book by the way, Baldwin makes a long rant about closing, right after he starts off with “The Good News is You’re Fired. The Bad News is all of you’ve got one week to try and regain your jobs…”. If you haven’t seen the movie, I would encourage you to check it out.

This moment that Baldwin shares with us is a perfect example of closing. He goes on and on about the ABCs (Always Be Closing) of sales, and I like it because his entire speech is a negotiation and closing tactic. His goal, of course, is to turn things around in that office and get it producing again. His solution, and the purpose of the “sale” he is trying to make with his negotiation is to put fear into their hearts that they will soon be out of work.

The brilliance of it is in the approach that it is inevitable because it has already happened. It is in the past. So what can they do?

Along this journey, they oppose and object. Jack Lemmon actually says “The Leads Are Weak.”, to which Baldwin scoffs at him and tells him he is weak. The negotiation goes on, as he dismantles all objections and excuses, putting them firmly in the grips of hopelessness. But then, reluctantly, and certainly seeming to be against his wishes, he gives them a small glimmer of hope. A single chance. A small opportunity for redemption. He closes the deal, and they get it. They buy the whole enchilada that he’s selling. That was an example of a good negotiation.

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Another fantastic approach in negotiations is with a win-win mindset. This means looking for ways to create value for both parties involved, rather than just focusing on your own interests. When you approach negotiations in this way, you build trust and rapport with the other party, which can lead to more successful outcomes in the long run.

Sticking with the movie theme that I apparently have going here, have you ever seen the movie “The Founder” with Michael Keaton? This is another terrific film, and itn it Keaton plays Ray Kroc who essentially stole the McDonalds business right out from under the original owners. How did he do it though?

He did it through creating a win-win scenario to gain their trust. He told them, let me run the franchises for you, and I’ll devote my own time, and money to putting a McDonalds on every corner. He wins. They win.

Later on, things changed, but he had established the trust, by that point which allowed him the opportunity to, as they say in baseball, “swing for the fences.”

So, how can you ensure that your negotiation skills beat your opponents’? Here are 2 sure-fire ways to do it.

Number 1. Do your research.

Be prepared and know as much as you can about the other party’s interests, needs, and priorities. This will give you a better understanding of where they’re coming from and what they’re looking for. Knowledge is power, and if you know what they want, you can find a way to get what you want by helping them achieve it.

Number 2. Practice active listening.

This means really paying attention to what the other party is saying, and asking questions to clarify their position. When objections come up, recognize them for what they are, opportunities to close the deal. They are telling you what they need. Listen to them in these moments, and find a way to work with it. By doing this, you can find common ground and come up with solutions that work for both parties.

I’ll give you an example of how I used these 2 principals to close a $12MM deal through the art of a win-win closing scenario several years ago. I was in charge of a sales group for a tax tracking firm, and one of the salespeople on my team had been working with one particular bank for more than 2 years and had never closed the deal. I read about this as I was reading through the logs and I asked her about it. She told me they couldn’t get budget approval through their Board of Directors. OK. That’s understandable. But why are they still talking with her 2 year later? I thought there had to be a reason, but she couldn’t answer that so I said, “Get them on the phone.”

So we conferenced with the VP and the head of mortgage loans for the Bank and I interrupted the conversation at one point to ask, “Can I just ask, what the heck are we even still talking for?”

The silence was deafening. But then it ended. The prospect said, “Well I love your product and think it would be perfect for us. I just can’t get the rest of them to see what I see.”

Boom! There it was; the opening I needed to close this deal. It was right there the whole time. She could have closed it up a year ago if she had kept an open mind and listened for the clues. He told me what he needed. He needed the other Board Members to see the benefit, and she hadn’t built the value to demonstrate $12MM worth of benefit to them. She missed it, and that can happen, but I didn’t miss it. I immediately jumped on that opportunity and I asked him what his largest pain point that our product would address for him would be. He told me and then I asked if we could re-write this deal to just service that one set of problem loans, could he get it done? That would give him the proof he needed to get approval for the whole department win the next budget meeting came up.

He loved the idea, saw it as a win for the bank, and told me he could approve that deal on his own because he had signature authority up to the $1MM we were negotiating for. We closed the deal with a new million dollar contract on the books, and a very happy new client. He closed the deal with security for his bank and less stress on his team, plus, he now had the ammunition he would need to secure budget approval for his department in the next meeting. Win-Win. The following fall, he sent us a signed agreement for the full $12MM, right on schedule, and with a big thank you.

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Conclusion

Well, that’s our show for today folks. I hope you enjoyed the show today, and perhaps even got something useful out of it. Remember, negotiations are all about mindset. If you approach them with an open and win-win mindset, and you do your research and you incorporate active listening, you’ll be well on your way to success in your future negotiations.

If you feel you’ve enjoyed the show, please do leave me a comment, and don’t forget to subscribe as well so you don’t miss a thing. You can also see this episode in blog form if you like, and sign up to receive email alerts when new episodes are released at themillermindset.com. Until then, I’m Chris Miller, reminding you to always keep smiling.

On the Next Episode:

Next time, on The Miller Mindset, we’ll be be talking about how to overcome limiting beliefs that set back business growth. Plus I’ll give you 5 steps to keep your head in the game. That’s next Tuesday, August 15th at 2pm EST; so Don’t miss it.

Want more Episodes of The Miller Mindset.

Subscribe to our Episode Alerts here.

Also, check out:

The Miller Mindset: Resilience, a Mindset of Growth!

Episode 17 – Mindset of Resilience: https://www.themillerfirms.com/podcasts/the-miller-mindset-resilience-a-mindset-of-growth/https://www.themillerfirms.com/podcasts/the-miller-mindset-resilience-a-mindset-of-growth/

Episode 16 – Mindset for Impact Growth: https://www.themillerfirms.com/podcasts/the-miller-mindset-know-your-mindsets-impact-on-growth-performance/

Episode 13 – Overcoming Your Fears to Live Your Dreams

Episode 12 – Unlocking Long-Term Business Growth made with an Adaptable Mindset

Episode 11 – Perseverance Mindset: 1 Simple Trick to Make You More Effective in Negotiations

Episode 10 – The Power of the Mind: Training Your Brain

Episode 9 – 3 Steps to Overcome Procrastination with the Right Mindset

Schedule an Appointment to speak with Chris Miller and discuss ways you can improve your mindset and grow as a business leader. Pick a time that works for your schedule now: Access Chris’ Calendar.

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Aug, Tue, 2023

Podcasts The Miller Mindset

The Miller Mindset: 1 Cool Tip for Happy Decision Making!

The Miller Mindset: Episode # 0018

Welcome to “The Miller Mindset”, a weekly podcast where we explore the power of positive thinking and its impact on our lives. Join me, Chris Miller, as we dive into such topics as goal- setting, overcoming obstacles, and developing a growth mindset. If you’re looking to improve your life and reach your full potential, then this podcast is for you. Don’t miss an episode. Be sure to subscribe today! On today’s show, we will be discussing the role of your mindset in your decision making process. So let’s get into it.

Watch Episode 18 on YouTube Now!

Don’t forget to subscribe and like!

Have you ever found yourself struggling to make a decision? It can be difficult to weigh the pros and cons, and sometimes we get stuck in analysis paralysis. But did you know that your mindset can play a huge role in this process?

Our mindset is the lens through which we view the world. It shapes our thoughts and our beliefs, ultimately influencing the decisions we make for the better or the worse in our lives. If we have a positive mindset, we are more likely to make decisions that align with our values and bring us happiness. On the other hand, a negative mindset can lead to decisions that are based on fear or self-doubt, and ultimately leave us feeling unsatisfied.

The way we think about ourselves and the world around us can significantly impact the quality of our lives. When we have a positive mindset, we tend to make decisions that bring us closer to our goals and aspirations, and that ultimately leads toward happiness. For example, if you have a positive mindset, you may decide to pursue a career that you are passionate about, even if it means taking a risk and stepping outside of your comfort zone. This decision may be challenging at first, but ultimately, it brings you fulfillment and joy.

Let’s talk about pursuing your passion as an example. When you approach life with positivity, you may feel more confident and willing to take risks. This can lead to pursuing a passion, whether it’s a hobby or a career. By following your heart, you may find yourself feeling fulfilled and happy, even during challenging times. For example, if you have always dreamt of becoming a writer, a positive mindset may give you the courage to take the first step and start writing. As you continue to cultivate a positive outlook, you may find yourself enjoying the journey and feeling grateful for the opportunity to pursue your passion.

Another example can be found when choosing our friends and cultivating meaningful relationships with others. Positive thinking can also help you build and maintain positive relationships with others. Plus, when you interact with others on a positive level, you will notice that you and the group you hang out and associate with are all going to get onto the same level. Anyone and everyone else in your group who isn’t on that level will also either rise to meet it or find there own way out of it in favor of a group more in tune with whatever mindset they want to stay within. When you approach interactions with an open mind and a willingness to connect, you will find that like-minded people will be drawn to you, and vice versa. This can lead to deeper and more fulfilling relationships with friends, family, and romantic partners in the long run, and in general just having a better time when getting together. By focusing on the positive aspects of others and avoiding negativity whenever it shows up, you can create a self-nurturing environment that will support your well-being and overall happiness.

Success is No Accident

Whatever you want in life, you can get it with the right mindset, training, and direction.

Our program will help you earn $10,000+/month in the first 60 Days. Find out more at: TheMillerFirms.com/Coaching

On the other hand, if we have a negative mindset, we may make decisions that are based on self-doubt and fear. For instance, you may decide not to apply for a job that you really want because you fear rejection or failure. Or maybe you decide not to attend an event or buy a particular business tool, software, or training program that you know will boost your business but you are unsure of your ability to put it to work for you or in your business. This decision may actually serve to hold you back, and can have disastrous effects on both your business and your personal earnings. In the long run, decisions like these can lead to feelings of regret and unfulfillment, as well as doubt in yourself and your ability to accomplish things.

In my line of work, I meet people all of the time who are afraid to purchase something that they know will help them. Usually they say something to effect that they know that thing will help them get where they want to go, or maybe that it will get them there faster, but that they can’t afford it or the timing isn’t right for them. Now, I’m a business analyst and consultant as well as a business owner and a salesman, so I look at these sort of statements from multiple angles almost automatically and make an evaluation of the pros and the cons toward any situation I am faced with. And it is worth mentioning that I have heard these same excuses and negative mindset influences coming up in these situations over and over again for years, sometimes in relation to buying something from me, and sometimes in relation to buying something from someone else. But I know something they often don’t know, and that’s that our mindset can be changed when we look at things from different angles.

It’s essential to recognize that our mindset is not fixed, and we can work to develop a more positive outlook on life and toward situations like these. By focusing on our strengths and accomplishments, practicing gratitude, and challenging negative self-talk, we can shift our mindset to one that is more positive and empowering. This, in turn, can lead to decisions that are aligned with our core values and aspirations, and that bring us happiness and fulfillment in life. Let’s look at this purchase scenario from a different perspective for a moment. Let’s just say that the cost is $1,999, which most things out there today seem to be priced at. Sometimes the thing they are looking at is more, and sometimes it is less, but the concept applies the same. Often, these people spend their brain power and their energy so focused on the negative mindsets that they fail to see the upsides to the choice they have been presented with. Choice is a fantastic gift to be presented with. Choice means options, and options ensure positive outcomes. So if we look at it from a choice transaction standpoint, we can really evaluate the decision process to find the right move.

On one hand, there is the argument to be made that the price is expensive and if they were to purchase it, they would have less money to pay other things they need to pay for as well. This is a singular mindset, purely transactional, and with a closed mindset mentality. In short, negative by nature.

On the other hand, there is also an argument to be made that the purchase would speed the time it takes them to learn or find a solution, or implement something that would increase their business sooner than they can achieve it without the product. A good example is a training program. Training programs exist to help us get to where we want to go faster, not to impart some miraculous wisdom that we cannot figure out on our own through time, work, and trial and error. They are simply a means of getting there faster and more directly. I know this because I have personally built many training programs over the years to help my own clients with some of the hurdles they have faced. But I’m getting off the point.

The point is, that by choosing to take the leap and make the decision to purchase that product which will help them build, streamline, or simply figure some critical step out faster than they can through trial and error, they are often making positive decisions that will get them through the tough hurdles, start bringing more customers and clients to them, shorten their workload and timeframe needed to implement, and bring in more sales and more revenue for their business which directly challenges the idea of the transaction because the cost is inconsequential in the long run if they are more active and bring in more money to offset the cost of that product in the end. This is a mindset of expanded thinking. It is one of openness and forethought. In short, positive by nature.

So how can we ensure that we are making decisions that align with our values and bring us happiness? Here’s a cool tip:

#1 – Before making a decision, ask yourself if you have looked at the decision from multiple angles.

Are you keeping your mindset open and expanded to all of the possibilities? If the answer is yes, then go for it! If not, and you find yourself looking at the decision purely with a transactional or closed off and negative mindset, take a step back and reconsider the decision first so you don’t inadvertently do yourself a disservice. You may be right not to do it, or you may not be. In either case, this simple exercise can help you see all of the angles, stay true to yourself, and make decisions that bring you closer to your goals.

Looking for a Good Start in Business?

Conclusion

Well, that’s our show for today folks. I hope you enjoyed the show today, and perhaps even got something useful out of it. Remember, your mindset plays a crucial role in your decision making process. By adopting a positive mindset and staying true to your values, you can make decisions that bring you happiness and fulfillment.

If you feel you enjoyed the show, please do leave me a comment, and don’t forget to subscribe as well so you don’t miss a thing. You can also see this episode in blog form if you like, and sign up to receive email alerts when new episodes are released at themillermindset.com. Until then, I’m Chris Miller, reminding you to always keep smiling.

On the Next Episode:

Next time, on The Miller Mindset, we’ll be be talking about the importance your mindset plays in negotiations. Plus I’ll give you 2 tips to ensure negotiation skills beat your opponents’. That’s next Tuesday, August 8th at 2pm EST; so Don’t miss it.