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Authentic Business Relationships Authentic Conversations About Difference Authentic Leadership Authentic Negotiating

A Different View of Deals & Negotiations

My guest today is Zoltan Istvan, who is a world leader in the field of Transhumanism. He’s also a vice presidential candidate for the Libertarian Party in 2020. I’m excited to have Zoltan on. He brings a different view of deals and negotiations, and how that plays out in the political realm.

More About Transhumanism

Transhumanism is a social movement. It contains many millions of people around the world that want to use science and technology to radically modify humans and the human experience. This can include anything from exoskeleton suits that will allow elderly or disabled people who have lost mobility to walk again, or chips implanted in either your brain or in your hand.

It can also include things like genetic editing, where we try to eliminate cancer through radical types of genetic therapies. Transhumanism is about applying radical science to human beings and our lives.

In 2016, Zoltan was nominated to run for as a Transhumansim presidential candidate. Zoltan believes that America actually received a science-based candidate really well. Although he acknowledges that the party never had a chance to win, they did get their message out, with over 100 million views of their content, 6th best of all candidates.

Deals & Negotiating in Politics & Journalism

Zoltan shares that he has several businesses and has been an entrepreneur for years. However, politics takes the cake in terms of deal-making. There are constant divisions, factions, and differences in opinion. If you want to be nominated as a candidate, you have to be able to combine factions, make deals, and bring people together.

The complexity of political deal-making in today’s divisive social atmosphere is intense. Zoltan noted that political deals often differ from business deals in that they tend to be less directly about money. Instead, they are about positioning and leverage.

The person who best masters compromise often ends up the winner.

Zoltan’s work in journalism required similar negotiation skills. When a journalist wants to create a story based on a certain person or group, it’s necessary to find ways to help people feel safe in revealing their truest selves. It really comes down to trust, and your ability to build trust with the other person as part of creating a deal together.

Building Trust as Part of Deal-Making

Because deals always involve people at some level, the power of trust cannot be overstated. No matter how amazing a deal might seem, it’s incredibly hard to get someone to put their signature on something if they don’t trust you.

In journalism, you have to be able to show someone that opening up to you and sharing their story is going to be better for them and their lives in the long run. And that can be a hard sell if trust has not been established.

So, politics and business share the same truth: Without some level of trust, it’s really hard to get a deal done.

Zoltan’s background includes reporting in a lot of war zones. As a result, he’s seen that generals and military commanders are very hesitant to speak with reporters. He had to prove that he would report the facts and create stories that were accurate. The modern, “click-bait” style reports that are common on social sites today do the exact opposite. They may be entertaining and compelling — but they do not build the sort of trust necessary to get to a deeper, bigger story.

Existential Risk & Transhumansim

Zoltan shares that transhumanism focuses quite strongly on the reality of existential risks in the world. There are plagues, health problems, and nuclear threats. He believes that reallocating government money into researching and addressing these existential threats is vital. In addition, it would be a foundational role for transhumanist political leaders in the future. This would clearly require a great deal of political deal-making. This would also involve the boundary-pushing science transhumanism is known for. Because of this, there are likely going to be conflicts with more conservative or traditional religious leaders.

For example, artificial wombs are reaching a place of viability that means they will be an option in the upcoming years. The Catholic Church has long held a position against abortion. Their perspective here will be interesting. What if they could see artificial wombs as an abortion alternative that allows a woman to opt-out of pregnancy while also protecting the babies life and making it possible for the child to be born full term and adopted?

Zoltan points out that innovations in science and technology almost always signal new deals on the horizon. From what will be accepted, to how something will be funded, produced, marketed, and used: deals are a necessity.

Building trust will continue to be a key element of allowing various sectors and factions to come together. This is necessary in order to create the best world for us all.

Listen in to the full episode here!

Corey Kupfer is an expert strategist, negotiator and dealmaker. He has more than 30 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author and professional speaker who is passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.

If you want to find out if you’re an authentic negotiator, take the Authentic Negotiating Success Quiz today!

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Authentic Conversations About Difference Authentic Deal-Making Authentic Leadership Authentic Negotiating Deal-Driven Growth

DealQuest’s BEST OF Leading Women in the RIA Industry

This week we bring to you a BEST OF episode. You’ll get to hear from some of the leading women in the RIA industry! Lisa Rapuano, Mindy Diamond, and Mary Ann Buchanon shared a wealth of knowledge. Listen in, and prepare to take notes!

Meet Lisa Rapuano

When Lisa Rapuano was twenty-five years old, she managed to talk her way into an investment management position. A startup in Chapel Hill, NC hired her, and her interest in investments grew. The experience she gained at FSP unearthed a new passion for investment research, which quickly became her focus and paved the way for her future as a business leader.

A Market-Cooperative Business Model

Today, Lisa serves as the CFO of Facet Wealth. This is an RIA that focuses on people with less than a million dollars in investable assets. Their niche encompasses thirty-three million American households that have between $100k-$1M in investable financial assets.

She describes Facet Wealth’s business model as market-cooperative. That’s because they are driven by highly efficient, back-end technology that enables their financial advisors to provide a holistic customer experience to lower net worth clients. As a result, peripheral partnerships are developed with other RIAs that focus on more complex investment strategies.

Deals are a driving force behind Facet Wealth’s success. There are two primary types that they use to generate growth. The first is a referral partnership, where Facet pays for referrals if the prospective RIA partner signs a solicitation agreement with them. This offers Facet’s RIA partners a way to continually serve the segmented clients, while also freeing up capacity and resources to focus on their niche.

The second way is a revenue replacement opportunity. This is also a sequential deal where Facet signs an asset purchase agreement with an RIA to acquire certain of their client relationship. In these deals, Facet will agree to terms for how long the RIA’s revenue will be replaced after the client transitions to Facet. This provides a great home for their smaller clients as the RIA seller focuses on their larger clients.

Learn more about Facet Wealth, Lisa Rapuano, and RIA deals here.

Meet Mindy Diamond

Mindy Diamond is the CEO and founder of Diamond Consultants. She specializes in recruiting and placing financial advisors. Through Mindy’s work in the wealth management field, she has helped facilitate numerous deals between buyers and sellers. She is a true expert at identifying potential deals for her clients. In addition, she is excellent at identifying weak points when the deal partners aren’t a good match.

The Best Deals Require the Best Partners

In our interview, Mindy and I talked about what differentiates a good deal from a bad one. Mindy shares her strategies for identifying when a buyer is ready to buy. She also shares her thoughts on the ever-evolving financial advisor field. A facilitator like Mindy can simplify the sometimes confusing process of finding and closing a deal. She’s a powerful asset to have in your corner!

One of the major changes Mindy has identified in recent years is the industry’s move toward independence. Although this creates more possibilities and avenues for deal-making, it has also served to complicate the process. There are many more things to consider when structuring a deal now than there were ten years ago. Finding the right partner is critical. It’s a growing challenge with the ever-wider buffet of options available.

It is also important to look at the bigger picture. A deal can have immediate benefits, but sour over time. By looking past the instant gratification, you can get a better sense of how your deal will affect you in the long term. That long-term approach is an important aspect of the evaluation process; an experienced consultant like Mindy can help you with that process.

Learn more about Diamond Consultants, Mindy Diamond, and RIA deals here.

Meet Mary Ann Buchanan

Mary Ann is the CEO and co-founder of RIA Match. This is a service that helps pair RIA firm and practice buyers and sellers. Her company has more than five thousand clients all over the nation. Mary Ann is experienced in connecting her clients with the right deal partners. She truly understands why the numbers don’t always tell the full story. Mary Ann helps her client firms look past the financial appeal of a deal in order to see the many other important key factors that need to be considered.

RIA Matchmaking

During our interview, I spoke with Mary Ann about the role culture plays in making a good match between deal partners. We discuss some of the deals Mary Ann has made in her own business that have helped RIA Match accelerate its growth. She also shares some surprising statistics about the RIA industry. We were able to discuss the work her company does for its clients in areas like succession planning, mergers and acquisitions. She is truly an expert in the art and science of matching the right deal partners.

Mary Ann also gave a fantastic checklist of considerations and data points that RIA Match examines. This is a phenomenal list to keep in mind when you’re looking for your own deals. Consider things like geographic location, number of clients, what technology is being used, and what sort of growth trajectory you are looking for. Each of these come into play as things potential deal partner may want to know about your organization. That means these are things that you should consider to help evaluate if a deal is the right one for you.

Learn more about RIA Match, Mary Ann Buchanon, and RIA deals here.

Corey Kupfer is an expert strategist, negotiator and dealmaker. He has more than 30 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author and professional speaker who is passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.

If you want to find out if you’re an authentic negotiator, take the Authentic Negotiating Success Quiz today!

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Authentic Business Relationships Authentic Conversations About Difference Authentic Deal-Making Authentic Leadership Authentic Negotiating Deal-Driven Growth

Finding Valuable Deals that are Worth Pursuing

I am so excited to share this DealQuest episode with you! Stephanie Scheller is the founder of Grow Disrupt, a San Antonio-based training organization for small businesses, and an accomplished speaker who has been behind-the-scenes with more than 2500 companies in the past five years to analyze & address their sales, marketing & systems! Her wealth of knowledge is especially useful when it comes to finding valuable deals that are worth pursuing!

Stephanie is a TEDx speaker, a Forbes 30 under 30 nominee, a 2019 New York Life Woman of the year Nominee, a two-time best-selling author, an entrepreneur, a coach and a trainer and dedicated to teaching the same skills that allowed her to build her business from scratch and walk away from her corporate job in less than five months. It is abundantly clear why I’m so excited to have her as a guest!

Grow Disrupt: Decreasing Overwhelm with Connections

Stephanie notes that when it comes to business, there are so many experts and self-proclaimed “gurus” out there. It’s very challenging to find people who actually give good information that is currently working.

A lot of small businesses get stuck. They get bad information, and then they get so overwhelmed with trying to either use that information, or find a new person with better information, that eventually they just kind of give up on follow through. We all know that doesn’t work if you’re going to run a business. You’ve got to have business skills as well as technical skills and you know like

So my goal was to be a gatekeeper so people could come to me and get connected with solid industry leaders that could really provide the guidance they needed. Eventually, Grow Disrupt turned to events as their medium of choice; they would bring in the people who not only know what they’re doing, but also know how to break it down in a way that makes sense. It’s vital that these guests can provide strategies and information that will work inside multiple businesses; global application is key!

Finding Valuable Deals

This may not seem like the ideal time to be knee-deep in the events industry! Stephanie shares that Grow Disrupt adapts as needed.

Right now, for example, they’re doing a lot of events online. Because they’ve positioned themselves as a brand that people can connect with, they’ve been able to make the pivot and continue serving their ideal clientele. This has been made simpler because Stephanie is a connector; she isn’t just signing contracts and creating growth for herself. Instead, she’s making deals that are based on trust and that grow from relationships.

As a connector myself, I know what a great skill this is when it comes to making deals. Before a transaction can occur, a relationship has to be made!

(Speaking of the event industry, you can go all the way back to episode three of the DealQuest Podcast to hear my interview with Ramon Ray if you want more information about deals and events!)

When Stephanie creates events and brings in experts, she tends to focus first and foremost on what her audience needs. They’re looking to accelerate their growth, shorten the learning curve, and uncover problems they don’t even know they have. By connecting with the experts that Stephanie brings them into contact with, they are able to identify what they most need to work on next. Often, these are problems that they have been unable to identify themselves, which means they’ve often put time and resources into trying to fix the wrong things!

Stephanie shares a great example she recently discovered in a violin lesson (I’d invite you to listen in to the full episode to hear about that real life example of fixing all the wrong things!)

Desperate Deals

Stephanie shares that one of the keys to deal-making is that you can’t be negotiating from a place of desperation.

When you’re just trying to get sales going,you tend to be desperate for the deal to go through. But here’s the thing: this deal is not going to save your business.

When you’re making deals from a desperate place, what you’re going to end up getting is a deal that’s not in your best interest. Stabilizing your sales funnel and using marketing to drive leads into that funnel will allow you the space you need to really negotiate and make deals from a place of power.

I love that Stephanie talked about this; something I talk about in my negotiating book is that if you’re in a place of scarcity, desperation, or fear, you’re going to be making wrong decisions. Great deals don’t come from a bad place!

Stephanie also mentioned some big ideas about taking a paycheck and getting a profit distribution from your business.

That ties in so well with last week’s episode, where Mike Michalowicz shared about his work with Profit First and Fix This Next.

Leverage Organic Growth With Deals

If you’re doing it right, you have organic growth from your sales and marketing as the base. And then you leverage that growth with deals. You’re able to use your organic success to enhance your negotiating position, which enables you to release the desperation of “needing” the deal.

Making deals from a place of strength also makes it more likely that you’ll be able to create ongoing relationships. The best way to do this is to start with a continuation of each relationship in mind. This requires honesty. Ideally you’re entering into deals that further your business without threatening to overwhelm it. Ideally, you don’t want a single deal to comprise more than 25% of your business, because you have to recognize that there are hundreds of reasons that that deal could end. Things change, clients’ needs change, the economy changes, your connection leaves the company. Too many companies become complacent and overly reliant upon one or two really large clients. Then if you lose them, you risk losing your business.

I completely agree with Stephanie’s thinking here. I’ve been in business for 35 years, and I feel like we do great work for people. We rarely have any issues with clients. However, we still lose clients for other reasons; by reducing our reliance on a small handful of clients, we strengthen our overall business and approach.

Stephanie shared about a contact that was making $250,000 a year from three clients. With no warning, she lost two of them overnight. It wasn’t anything she did “wrong”; they were bringing it in house because they got acquired by a larger company. Her business had relied on three contracts; they were good deals, but she could have lost everything by over relying on them and ignoring organic sales and marketing that would have enabled her to have more diversity within her business.

To learn more about leveraging deals while organically growing your business, listen in to the whole episode here! You can also learn more about Stephanie over on her site, www.growdisrupt.com.

Corey Kupfer is an expert strategist, negotiator and dealmaker. He has more than 30 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author and professional speaker who is passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.

If you want to find out if you’re an authentic negotiator, take the Authentic Negotiating Success Quiz today!

Categories
Authentic Business Relationships Authentic Conversations About Difference Authentic Deal-Making Authentic Leadership Authentic Negotiating Deal-Driven Growth

Key Decisions During Challenging Times

In this week’s episode, I break down the key decisions that we all need to make in these challenging times. The insights I offer on this topic come out of my own experience in dealing with challenging times in the past. For instance, coming through previous recessions and Superstorm Sandy.

Leadership Opportunities

As entrepreneurs and business leaders, I think we all have an opportunity to really look closely at two key decision points. The first one is:

Are we going to let these challenging times of crises get us down and derail key decisions?
Will we allow them to adversely impact us in terms of our mental state, our spiritual state, or our emotional state? Or are we going to find a way to rally?

During difficult times, it’s imperative that we stay positive and look for opportunities to excel. That may mean we need to pivot in our businesses, or use this time to develop new offerings for our clients. At an absolute minimum, it means we need to find new ways to stay in contact with clients by finding our own space of attraction and service.

If we don’t do that, we can easily end up in a place of fear and scarcity.

I’m sure we’ve all seen examples of leaders who have rallied, and leaders who have floundered. In fact, both things are happening in the extremes right now. And of course you know certain people in between; treading water and getting by. You get decide what kind of leader you will be! You can make key decisions that will allow you to grow, even through difficulty.

The Power of Positive Entrepreneurs

What I love about entrepreneurs is that, in general, I find them to be generally more positive and optimistic than many other types of people.

They are used to being innovative and finding creative ways to make things happen! And it could be that optimism comes more easily in times of crisis because they’re in control to a greater degree than those who work for others. Being an entrepreneur is different because you have so much agency. Instead of wondering if you’re going to get laid off from a job, you’re able to gear up and create change. But you an only do so if you’re maintaining a positive mindset!

As a business owner, what you’re dealing with is your business. You have the power to make changes or pivot as you see fit. And entrepreneurs clearly take advantage of this ability! In every down time, there are always companies that come out of it stronger than before. Why?

Because they are empowered to create changes and adapt.

Some businesses will use the crisis to figure out how to become more efficient, how to make different offers, and how to produce products that are more appealing to their clients. Some of the most successful companies throughout history, going all the way back to the Great Depression and beyond, have been formed out of downtimes in the economy.

It all starts with whether you look at everything as an opportunity. You can choose to approach this challenge with an open mind, equipping yourself to not only survive, but to thrive.

Stand Strong

Are you constantly asking yourself how you’re going to put the best spin on this?

Are you searching for how you’re going to use this time most effectively?

You have to understand that if you’re in a place of fear or scarcity or lack, if you’re sort of shutting down and letting things affect you, it is going to impact your business. Mindset is everything. If you focus on scarcity, you are more likely to have that come into your life. Choosing to stay positive is one of the most key decisions you can make.

When you focus on positive ways to serve your clients, serve humanity, serve people, you empower yourself.

If you focus on making a difference, being there, and supporting others in these times — that will shine through. And you’ll make an impact on not only your own life, but the lives of others.

Because honestly, whether you worry about it or not, it’s going to be what it’s going to be. So much is outside of your control. When we can get to the point where we are only focusing on the things that we can actually do something about, and not worrying about those that are outside of our control, that’s when we have the opportunity to be in our best position.

So that’s the first fundamental decision you have to make. But you’re not in it alone!

To help leaders in maintaining this positive outlook, I’m bringing entrepreneurs and business leaders together on Zoom calls where we can support each other. The goal is to maintain a positive energy, keep a growth mindset, and share best practices and while in community. The previous calls have been really amazing, and I would encourage you to join us if you haven’t yet!

Key Decisions Include How You Will Serve Others

The second big decision that I want you all to think about is this:

Are you looking for positive ways to serve?
Really consider: are you finding ways of just being there as human beings for each other? How are you actively supporting others in ways that are unrelated to making money or building your business?

And how are you serving your clients and being a resource to them, while also continuing to get paid a fair value for your services?

We all want to be people who make a difference in other people’s lives. It’s vital that we do so in ways that are fair and in keeping with our morals,values, and highest ideals. In these times, especially if you’re facing scarcity, fear, or worry about money, your decisions can get clouded by need.

I know what it’s like to sleep on an air mattress in my office, because I gave up my apartment during the 2008 recession. I know what it’s like to go into $325,000 of debt trying to make it all happen. These are hard times for many businesses, and I understand all too well what that feels like.

But what I also knew in that time was that it was vital to handle my business with character and in alignment to my true values. This is vital; no matter how hard it is, you must act on principle and maintain your core values.

So, how are we going to carry ourselves in these challenging times?

If we have an opportunity to still be in business and sell services and products, are we going to be gouging prices?

Or are we going to charge a fair price, are we going to actively look for ways to be of service? Can we look for ways to still uphold our value for the services that we’re providing, but also accommodate our client’s needs?

Let’s Talk Deals

There are going to be a lot of deals to be had in any kind of down economy. And we each have a choice: you can leverage and take advantage of somebody, or choose to be fair with somebody.

Because yes, there are the “distressed assets” – whether it’s property or business valuations that are tanking – and people who are afraid and may even feel desperate. Some investors will jump on the chance to leverage short-term profit. But others will operate from a place of integrity, a place of character and balance an appropriate adjustment in price and terms with a longer term view that takes into account relationships, valuing talent and fairness under the circumstances.

If you’re entering into a deal, you must consider your legacy and reputation. Not from a place of ego, but from a place of building the kind of business that you can be proud of once this crisis has passed. Certain key decisions regarding deals can leave you worse off down the road if you don’t consider values and relationships.

Be very sensitive about taking advantage of others in the business world; don’t be someone who leverages people’s misfortunes for your own gain.

Remember, most deals are either the start, or the continuation of, a business relationship.

A company might take a deal in the short run, because they’re desperate. They need the money. But if you demoralize everyone involved, is that deal going to work out for you in the long run? Probably not. It’s not going to work out as well as if you had done it the right way.

There’s a difference between right-sizing a deal, and trying to leverage somebody’s misfortune just because you know they don’t have options.
There are ways to structure deals where you can respect both party’s risks. For example, you might commit to a purchase price based upon today’s valuation, which may be down from yesterday’s. But you could also give the ability of the seller to earn some upside if, over the next number of years, the business comes back to where it was.

Then you’re paying for revenue and profits that you will get, but only if you get them, and the deal works out fairly. This is far preferable to trying to leverage somebody at the bottom, and then keeping all the advantage of the upside for yourself.

Long Term Relationships

Doing an honorable deal in times of crisis increases the odds of the seller (and the seller’s team) becoming good employees or minority partners, depending upon how the deal is structured. It makes it more likely you’ll have a deal that will work in the long term. Just from a pure business point of view, it makes sense.

But it’s more than business.

I happen to believe that when we’re out of alignment, even if our actions initially make us more money in the short run, we create problems for ourselves in the long run. Don’t get me wrong: It’s absolutely the time to look for opportunities.

But you have to consider how you’re going to take advantage of those opportunities. Are you going to do so in a way that honors your values?

Key Decisions Provide Both Opportunity and Challenge

So this is our opportunity. This is our challenge. How are we going to stay in a positive mindset while we seek opportunities that are aligned, while also being mindful not to take advantage of people? How are we going to serve others? You can listen in to more of my thoughts on this over on the podcast.

I want to say I’m here as a resource. If anybody’s struggling, or anybody wants to talk through a few things, let’s connect. If you’re wondering: How do I take advantage of opportunities in this market without doing it in a way that’s not aligned? Reach out. I’m here for you.

Earlier I mentioned the Zoom calls, which are free; please join us there. They are going to bring the community together, help us stay aligned with our values, and help us make key decisions and stay positive in these challenging times.

Corey Kupfer is an expert strategist, negotiator and dealmaker. He has more than 30 years of professional deal-making and negotiating experience. Corey is a successful entrepreneur, attorney, consultant, author and professional speaker who is passionate about deal-driven growth. He is also the creator and host of the DealQuest Podcast.

If you want to find out if you’re an authentic negotiator, take the Authentic Negotiating Success Quiz today!

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Authentic Conversations About Difference

3 Simple And Effective Steps To Dominate Negotiations

Kevin Kruse from Forbes interviewed me about the nuances of Clarity, Detachment and Equlibrium and how authentic negotiating differs from traditional negotiating. I pointed out that even sophisticated people often go into multi-million dollar negotiations without the level of clarity that they should, and certainly without the level of clarity that I work with them on.

Think about my bottom line example:

“Okay, so 10 million is your bottom line.”

“Yeah, that’s my bottom line.”

Okay, so let’s assume we get a deal that meets every other one of your criteria. But the money, instead of 10 million dollars, is $9,999,999.99. And usually the client’s first reaction is, “Come on Corey, that’s kind of ridiculous. It’s just a penny less.”

Well what about a penny less than that, and a penny less than that, and a penny less than that? It’s not a penny less, or not a penny more, or not a day more.

Read the entire interview and learn more about my thoughts on negotiating here.

Corey Kupfer is an expert strategist, negotiator and dealmaker with more than 30 years of professional deal-making and negotiating experience. He is a successful entrepreneur, attorney, consultant, author and professional speaker. He is also the creator and host of the Fueling Deals Podcast.

If you want to find out if you’re an authentic negotiator, take the Authentic Negotiating Success Quiz today!

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Authentic Conversations About Difference

Three Negotiation Keys to Leadership Success

There are three keys to true negotiating success. If you master these three keys, not only will you have much more success in negotiating but you will be able to apply them to be a more effective leader. The three keys are Clarity, Detachment and Equilibrium (CDE) and they are the fundamental framework of Authentic Negotiating.

Clarity: Authentic negotiators know what will and won’t work for them on every significant term and what their true bottom line is – from a place of clarity, not ego. In addition to doing the external preparation, there is a body of internal work that great negotiators do to get aligned and clear on their true objectives.

Detachment: Authentic negotiators can walk away from a negotiation with no hesitation – not from a place of anger or upset, but from a place of detachment with no judgment or hard feelings. They have a preference that the deal gets done or they wouldn’t be taking the time to negotiate but they understand that the only thing worse than not getting a deal done is doing a bad deal and they trust that – whatever the outcomes – it’s for the best.

Equilibrium: Authentic negotiators don’t let emotions dictate their actions, instead they maintain equilibrium during the heat of tough negotiation to stay present and preserve their clarity and detachment. They develop the tools and practices that support them in not getting triggered or thrown off even during heated negotiations or in the face of manipulative tactics.

Read the rest of my article and tips at greatleadershipbydan.

Corey Kupfer is an expert strategist, negotiator and dealmaker with more than 30 years of professional deal-making and negotiating experience. He is a successful entrepreneur, attorney, consultant, author and professional speaker who is passionate about deal-driven growth. He is also the creator and host of the Fueling Deals Podcast.

If you want to find out if you’re an authentic negotiator, take the Authentic Negotiating Success Quiz today!

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Why Equilibrium is the Key to Achieving True Negotiating Success

Maintaining your cool and being in a state of equilibrium is a huge asset in a negotiation. When the other party loses it, you benefit by staying calm instead.

Most negotiating articles, books, training programs and other resources focus on techniques, tactics and counter-tactics. These, however, are often ineffective, manipulative and inauthentic and, even when good, are not the key to true negotiating success.

Authentic negotiating is the secret to true negotiating success and there are three keys to authentic negotiating:

Clarity: Authentic negotiators know what will and won’t work for them on every significant term, and what their true bottom line is – from a place of clarity, not ego.

Detachment: Authentic negotiators can walk away from a negotiation with no hesitation – not from a place of anger or upset, but from a place of detachment with no judgment or hard feelings.

Equilibrium: Authentic negotiators don’t let emotions dictate their actions. Instead, they maintain equilibrium during the heat of tough negotiation to stay present and preserve their clarity and detachment.

Read the rest of my article and tips at thoughtleadersllc.

Corey Kupfer is an expert strategist, negotiator and dealmaker with more than 30 years of professional deal-making and negotiating experience. He is a successful entrepreneur, attorney, consultant, author and professional speaker who is passionate about deal-driven growth. He is also the creator and host of the Fueling Deals Podcast.

If you want to find out if you’re an authentic negotiator, take the Authentic Negotiating Success Quiz today!

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Authentic Conversations About Difference

Edelman jumps into M&A

Edelman Financial Services, one of the advisory industry’s largest RIAs with over $17 billion in assets, is plunging into the crowded, competitive and capital-intensive M&A game.

“We’ve decided to engage in M&A activity,” says executive chairman Ric Edelman. “At our board meeting last week, we decided to do this for the first time ever.”

Backed by majority shareholder Hellman & Friedman, the private equity firm that has long been a major LPL Financial shareholder, Edelman Financial hopes to establish a national brand and become “America’s planning firm,” says Edelman, whose syndicated radio show, seminars and books drive the RIA’s brand.

The company’s board of directors concluded it was impossible to accomplish that goal with inorganic growth, according to Edelman.

The RIA’s CFO, Rene Chaze, will lead Edelman’s M&A and strategic alliance efforts, which will include several new hires. “We need more players on the field,” Chaze says. “We’re ramping up our capability and are going to be moving quickly in the [acquisitions] space.”

Read the full article on Financial-Planning.com.

Corey Kupfer is an expert strategist, negotiator and dealmaker with more than 30 years of professional deal-making and negotiating experience. He is a successful entrepreneur, attorney, consultant, author and professional speaker who is passionate about deal-driven growth. He is also the creator and host of the Fueling Deals Podcast.

If you want to find out if you’re an authentic negotiator, take the Authentic Negotiating Success Quiz today!

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Authentic Conversations About Difference

If You’re Self-Employed, Use These Strategies To Own Your Worth

If you’re self-employed, you face unique challenges when it comes to negotiating with your clients and partners. As challenging as it may be to walk into the boss’s office and ask for a raise, running your own business is even more complicated. “How do I know how to set my rate? ” is one of the most frequent questions I get from freelancers, contractors and entrepreneurs. When it’s a choice between signing a new client or meeting them at the discounted price they want, it may not feel like a choice at all.

Research and benchmarking are the obvious first step in determining how to price to price your services. This applies whether you’re a writer, a graphic designer, a career coach, a photographer, or really, anyone working in a creative field. The phrase “know your worth” is more than a rallying cry ; it’s important to actually know how much people in your market are paying for the services you offer. I’ve written previously about how to do the right research.

But owning your value goes deeper than simply setting your rates according to what others are doing. One thing I’m fond of saying to women is, “Ask yourself what a man would do in your situation. Better yet, ask a man.” Why? Because men are more likely to negotiate. So I decided to take my own advice by speaking with Corey Kupfer, the founder of Authentic Business Academy and author of “Authentic Negotiating: Clarity, Detachment, & Equilibrium — The Three Keys To True Negotiating Success & How To Achieve Them.” Kupfer is a professional negotiator with over thirty years of experience.

Corey Kupfer is an expert strategist, negotiator and dealmaker with more than 30 years of professional deal-making and negotiating experience. He is a successful entrepreneur, attorney, consultant, author and professional speaker who is passionate about deal-driven growth. He is also the creator and host of the Fueling Deals Podcast.

If you want to find out if you’re an authentic negotiator, take the Authentic Negotiating Success Quiz today!

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Authentic Conversations About Difference Authentic Leadership

Is Fear Changing the Way You Do Business?

Are your fears and insecurities holding you back in business? Do you find yourself playing small and waiting for external validation before you can make your next move? If you are waiting for some sign that you are doing the right thing, then you need to take a deep breath and a step back.

Your mindset has a huge impact on the long-term success of your business. For me, I keep my mindset positive and focused with a physical reminder. I wear a bracelet with a token that has the word “freedom” engraved on it. I have not taken this off since I bought it three years ago from myintent.org. Freedom is my single highest value in life and it applies to multiple areas including everything from freedom for all people from oppression to freedom for me to create the life I want to live (it’s why I’m an entrepreneur), and the topic of this blog – freedom from fear or, at times, the freedom to face fear and have the courage to push through it.

There are some freedoms you need to work to attain. For example, I have freedom from the fear of financial insecurity not just because I run two successful businesses but, also, because I have done a lot of work related to my relationship with money and staying in abundance instead of scarcity. There are some freedoms you are given. For me that includes having freedom from fear of oppression for my sexuality, skin tone and gender because I am a cisgender straight white male but not necessarily culturally as there is still anti-Semitism and I am Jewish. I have worked and continue to work on breaking through fear in all areas of my life and am committed to using my financial stability and experience to help lift up others from a place of fear because I know what it feels like to be afraid and to come through it.

About six years ago, I was on an Entrepreneurs Organization forum retreat, and one of the things we did was rappel off cliffs. There I was hundreds of feet up with my peers, and I am there despite that I am afraid of heights. Not just afraid and uneasy; heights are a real phobia for me. I was there because every few years I force myself to do something that literally terrifies me as I refuse to be held back by fear.

After, mistakenly, waiting for several of my forum-mates to go first and letting the tension and fear build to almost unbearable levels, it was my turn. The first time I leaned back off the cliff and had to trust the rope would hold me as I went down that mountain, I was absolutely terrified. Anyone who can literally lean back off a cliff and not pass out from the fear has conquered a part of themselves that was limiting them but if you do it with something you have a phobia about, well … . I have done other things to push myself outside of my comfort zone. I’ve done ropes courses, zip lines and even jumped out of a perfectly good plane skydiving. I have even climbed a couple of hundred feet to a tiny platform and bungee jumped. Why do I keep putting myself in a position where I am frightened? Because I want to do something that breaks through those feelings of fear and then be able to call upon that in other parts of my life.

When I say break through the fear, I want you to understand that I’m still always afraid. The act of taking on my fear with a physical test, and then conquering that physical test, shows me that I can trust myself to not let my fear hold me back.

You may have fears around shifting the way you work being out of the office more, trusting others, delegating more, or of your own failure or success.. I’m going to encourage you to break through those fears. Because you can live the life you were meant to lead. I mean, I have done it, other people have done it. Why not you? There are situations in your life where you’ve had a fear of something and then you’ve done something to break through that fear and overcome it so call upon those times and apply that same courage in other parts of your life.

I use those times when I’m afraid of something in business and think back to those moments when I worked through my fears, leaning back off that cliff, leaping off that platform attached only to a bungee or jumping out of that plane. It gives me another level of confidence and not just on an intellectual level; there’s something visceral about it. If I can do those things, I can do anything.

If there’s any fear that comes up around making shifts in your business just listen, face the fear, visualize the freedom and use the experiences where you have had fears in the past and broke through them. Use the work you did on a physical challenge, for example, or other situation as the motivation to get the courage to make a change. When you do your level of success, satisfaction and happiness in business and life will increase exponentially!

Corey Kupfer is an expert strategist, negotiator and dealmaker with more than 30 years of professional deal-making and negotiating experience. He is a successful entrepreneur, attorney, consultant, author and professional speaker. He is also the creator and host of the Fueling Deals Podcast.

If you want to find out if you’re an authentic negotiator, take the Authentic Negotiating Success Quiz today!