All posts by AdamPressman

Leadership

How To Show The World You’re A Class-Act

Barry Davret
Dec 14, 2019

They control their impulses

A class-act never loses her cool. Like everyone else, she feels the initial impulse to lash out when attacked or engaged in emotionally charged situations. But she allows that impulse to pass, and somehow, in the aftermath, always comes a winner.Take a pause, consider the circumstances, and craft a response that de-escalates the situation. Sacrifice that burst of euphoria you experience from settling a score. Instead, aim for the longterm satisfaction of acting in a way that serves as model behavior for others to follow.

They act with integrity when it’s challenging to do so

Most of us act according to a set of morals and principles, even if we can’t articulate them. Do you live by those principles when it’s more convenient to make an exception?It’s easy to tell yourself, just this once, I don’t want to make enemies, or I need the money. The class act puts principle over personal gain. His peers will admire his decision and envy his ability to sacrifice reward, convenience, or acceptance to live by his values.

They show sportsmanship

Win or lose, act with graciousness towards your competitors. Don’t throw temper tantrums or belittle others when outcomes defy your expectations. And making excuses? Yeah, that’s poor sportsmanship too.It’s okay to recognize that someone performed better than you on a particular day or a particular project. Smile, compliment their effort and get on with your life.Like many other of these behaviors, the secret to good sportsmanship lies in the first rule. Ignore your initial impulse, take a deep breath, and think about what action will serve you best.

They stay above the fray

See yourself as a mediator rather than a combatant. A class-act never involves themselves in petty squabbles or even big ones. Instead, they play the role of peacemaker. They bring calm and clarity to tense situations.When you’re the one to get both sides to agree on a mutually acceptable outcome, your reputation soars. You win respect and admiration for acting in a way others wish they could in a similar situation.

They do classy things

I once received a handwritten note from a coach I had hired to help improve my sales skills. He wrote that he was honored to serve me. Also enclosed was a bar of my favorite dark chocolate. It cost him a few bucks and a few minutes of his time. It was one of the classiest things I’ve ever experienced.You don’t need to spend a lot of money. Pay attention to the little things that brighten the day of your friends and the people you serve. Take a few minutes of your time to add a personal touch to your interactions. That’s class.

They make people feel welcome

Have you ever felt tolerated but not welcomed? It sucks, doesn’t it? A class-act goes out of her way to make sure everyone feels like they’re the most important person at the table.Sure, it takes some charisma to pull this off. But a little bit of effort will get you 90% of the way there. Be gracious. Show genuine interest in others. Avoid playing favorites. Act as though you’re lucky they granted you an audience.

They defend the innocent

Years ago, I witnessed a situation at work that exemplified the kind of person I wanted to emulate. A Vice President, also a known bully, was berating one of his peers over something petty. Another Vice President stood up to defend the victim.Instead of engaging in a street fight, he praised the victim for his efforts, refuting the bully’s arguments without saying one disparaging word about him. He deprived the confrontation of fuel, making it difficult for the victimizer to reload their canons of vitriol.

They do kind things when nobody is looking

Why do rich folks donate obscene money to get their names on university buildings? It’s a sign of status. Is it a generous thing to do? Sure, but how many of them would give money if their donations were anonymous?A class-act never flaunts their good deeds. They do it as a matter of course. Compliment others not to get something, but to brighten their day. Go ahead and pick up a piece of trash on the floor, even if you’re alone.There’s nothing wrong with desiring recognition for your kind actions but think of it as a side-effect of a life dedicated to this principle. Do it enough, and others will notice.

For Your Body

Getting Over a Cold or the Flu?

Joseph Feuerstein, MD
Bottom Line Health

TRY THIS GET-WELL-QUICK RECOVERY PLAN

When you’re sidelined by the fever and head-to-toe body aches of the flu or even the endless sneezing and coughing of a cold, it’s tempting to want to get back to normal life at the first sign of feeling better. Wait! These illnesses take a toll on your body, and the flu, in particular, can set you up for serious complications. When flu turns deadly: While the flu itself can quickly lead to lethal respiratory failure if the lungs are overtaken by inflammation, complications of the flu, such as pneumonia or sepsis, are often the actual cause of death. In some cases, being run down from a bad cold can even set the stage for pneumonia. Whether you’re battling the flu or a cold, here’s a natural six-step recovery plan that will also help fortify you against serious complications:

• Get tested. If you’re sure you’ve got a cold, you might be able to tough it out on your own. But symptoms of the cold and flu can be similar. The distinguishing characteristics are typically the flu’s rapid onset and extreme fatigue, but both illnesses can cause headache, coughing and a runny nose. A fever is more common with the flu, but not everyone with the flu will run a fever.  That’s why if you’re not sure what’s causing your illness—especially if you’re over age 65…have had a heart attack or stroke…or have a chronic condition such as lung disease, diabetes or ­cancer—talk to your doctor about getting tested for the flu. Some nasal or throat swab tests can provide an answer in 30 minutes or less. If you do have the flu, your doctor may want to closely supervise your recovery—in some cases, with monitoring in a hospital if you’re frail and/or have a chronic health problem. Important: Don’t assume that a cold is harmless. If it improves but then worsens…lingers for more than 10 days without getting better…and/or causes fever that lasts for more than three days, consult your physician. This could signal a complication such as bronchitis or pneumonia. If you have a cold or the flu and experience shortness of breath, chest pain or a fever over 103°F, call your doctor or 911. Caution: Respiratory infections (particularly the flu) are linked to increased risk for heart ­attack­—especially in the week following a flu diagnosis.

• Stay “horizontal.” There’s a reason you’re tired and feverish and have no appetite. Your body is forcing you to stop all activity so that it can wage an all-out effort to fight the virus. In most cases, fever is an integral part of the process—it actually stimulates your immune system to work harder than normal. What you need is lots of sleep, fluids (see below) and bed rest! Don’t let a hectic schedule or guilt over missing obligations keep you from listening to your body. It usually takes about a week to get over a cold, but the flu can set you back for up to two weeks. It may take even longer if you were run down before getting sick or if you’re managing a chronic condition, such as lung disease or diabetes, that was already stressing your system. Important: When you must get up (to, say, go to the bathroom), do so in stages—sit up…swing your feet over the side of the bed…then stand for a few seconds before you start to walk. Prolonged bed rest can lower your blood pressure, which can cause dizziness and even fainting if you stand up too quickly. 

• Consider taking elderberry and echinacea. Even though some people prefer to take a pharmaceutical such as oseltamivir (Tamiflu) for the flu, elderberry and echinacea are worth considering. While some modern research on these botanicals has been mixed, both have been used for centuries to ease cold and flu symptoms and a comprehensive 2017 study published in the Journal of Evidence-Based Complementary & Alternative Medicine found that elderberry and echinacea were effective against cold and flu viruses. The phytonutrients that give elderberry its deep black-purple color have been found to help stop virus cells from multiplying. Black elderberry extract is available in liquid, tablets, and lozenges. Sambucol, Black Elderberry is particularly effective. Echinacea purpurea (one of the various species of echinacea) has been shown to have immune-stimulating properties. It’s available in capsule, extract, and liquid form. Note: If you have allergies or asthma, be sure to check with your doctor before trying echinacea. Some cold and flu products, such as Gaia Herbs’ Quick Defense with Echinacea & Elderberry…and Solaray’s Echinacea & Elderberry, contain both herbs. A combination tea, Echinacea Plus Elderberry, is available from Traditional Medicinals. Also: To treat your fever, consider alternating the lowest possible dose of acetaminophen (Tylenol) and a nonsteroidal anti-inflammatory drug, such as ibuprofen (Motrin). This helps minimize the side effects of each medication. Zinc supplements have been shown to significantly reduce the length and severity of cold symptoms. For a cold, try zinc lozenges within 24 hours of the start of your symptoms and for the duration of the illness. 

• Drink more fluids than you think you need. You don’t have to force yourself to eat solid foods, but liquids are essential—and you may not realize how much water you’re losing when you’re sweating from a fever. This can lead to dehydration, another reason for dizziness when you go from lying to standing. My rule of thumb: Drink enough to make your urine clear. Listen to your body and stick with broth and other soups at first to avoid straining your digestive system.

• Spice up your chicken soup. To amp up the healing power of chicken soup, add immune-boosting, anti-inflammatory spices such as turmeric and ginger, along with garlic. Use as much as you can tolerate of each to taste. When you are ready for solid food, start with healthy starches such as oatmeal and whole-wheat toast. It takes more effort for your body to digest raw fruits and vegetables, so try to avoid them until you’ve recovered. 

•Pace your reentry. The common rule of thumb is to wait at least 24 hours after your fever is gone before returning to your usual activities, but that can be too soon. Whether it’s work, household chores or hobbies, the more physical activity that’s involved—even standing for long periods of time—the more gradual your return should be. As for resuming your exercise regimen, wait until you have gone back to your normal diet…and start with slow-to-moderate walking for 10 minutes. It could take a week or more to get back to your full workout schedule.

Top Cold and Flu Preventive

With its antioxidant and antimicrobial properties, the herbal remedy American ginseng (Panax quinquefolius) has strong research supporting its use as a cold and flu preventive. In a study involving nursing-home patients that was published in the Journal of the American Geriatrics Society, it reduced the risk for flu by 89% compared with a placebo. The study participants took 200-mg capsules twice daily of a product called Cold-FX, which is usually taken throughout the cold season. Important: For cold and flu prevention, it’s American ginseng that should be used, rather than Asian, Siberian or other ginseng varieties.

For Your Body

Exercise as a Couple and Double Your Results

Dr. John Raglin
Bottom Line Health

You know all about the motivational advantages to working out with an exercise buddy, but are they the same when the buddy is your spouse or life partner? The answer is yes and perhaps more so. Working out with your spouse or partner can strengthen your relationship along with your muscles. Here’s how to start off on the right foot.

Commit to an Exercise plan

Sticking with an exercise program isn’t easy. The average dropout rate is 50%, most often after just a few months. But exercising with your significant other can change that. I studied married people who joined a fitness program by themselves and as a couple. After 12 months, the couples had a better-than-90% adherence rate—that’s remarkably high when you consider average adherence is about 50% after 12 months for people joining without their spouse. Most interesting was that they didn’t need to be doing the exact same exercise program, provided they went to the gym together, so the issue of “he’s stronger than I am” or “I don’t like the same machines” doesn’t matter. You don’t have to work out side by side—you just have to make the commitment to exercise at the same time and place. For busy working couples, it even can create date-night closeness. It’s a terrific alternative to sitting silently in a movie. 

Keys for Exercise Success

Account for your differences. Most couples have different fitness ­levels, and you need to create a plan that accounts for those. If you’re working out with machines in a gym, it’s easy to simply go together for a set period of time or go to a class together. But if you want to go running or biking together and one of you can handle a greater pace and distance than the other, you’ll have to make accommodations. Try this: Agree to separate distance goals. Start off together at the same speed, but pick a point where the person with less stamina will stop and allow the other to continue or where the one who is in front will pause and wait for his/her partner. Hint: Make your route a repetitive loop that goes past your car or your home to make it convenient for one person to stop if needed. Don’t put yourselves in the position of having to navigate differences on the fly when one of you suddenly runs out of gas at the midway point of the route. 

Startups

Use The 1–50 Rule to Make Money Within the Next 24 Hours

By

Danny Forest, VNP in Entrepreneur’s Handbook

A fast and profitable way to launch new projects

I stopped counting how many products and services I’ve built that have made money from day one.I’m not talking huge money, but money nonetheless. What I’ve learned will change your mindset forever on how to approach new projects to test their viability.Here’s the method:

The 1–50 Rule

For any new project you’re thinking about starting, ask yourself:How can I build and launch this in ONE day and still deliver 50% of the results?We all have big ideas. Ideas that would take weeks, months, or even years to build. I have those at least once a week and, obviously, I can’t build them all.For example, I know a few people who want to start coaching other people but take months before they release their services. I did that in an hour or two using Magnifi.io.It takes only a few minutes and you can start coaching others right way. You set the price per minute. People can call you during your available hours or can book online appointments with you.What’s important in a coaching business? Bringing results for your clients. That’s it. That’s more than 50% of the results in less than a day’s work.You can charge any amount of money you want per minute. I was charging $5/minute, which amounts to $300/hour if fully booked for the hour.I’ll mention other examples below.

What makes the 1–50 Rule work?

1. It forces you to think outside the box

Are you scared of starting a project because it’s too ambitious?We’ve all been there.Maybe you decided to start with a Minimum Viable Product (MVP) but you really couldn’t figure out where to cut the development costs. If you’re thinking “development,” you’re already thinking too far.Start thinking about how can you cut the development of the product to one day. Stop saying it’s impossible and get ready to think differently.

2. You can actually fit the 1–50 Rule into your schedule

I hear so many people say that they don’t have the time to implement their big ideas. Well, it’s likely true. Their ideas are too big to be accomplished by traditional methods.When you figure out a way to build your idea in one day and yield 50% of the results, suddenly the schedule doesn’t seem so tight anymore.

3. You can bring immense value to people with just 50% of the results

I’m a software engineer by trade. I do appreciate a well-crafted, bug-free software. But you know what I appreciate more? Helping as many people as efficiently as possible, and sometimes that comes at the cost of imperfection.

4. You can be profitable much faster than you think

When you launch a product in one day, you save a tremendous amount on development cost and can start generating money right away.Most of my 1–50 products have been profitable from day 1 without much marketing effort. In the coaching app mentioned above, Magnifi.io, they feature your profile in the categories you should be in. People who use the app are already looking for coaching, like people search for books on Amazon.

How you can apply the 1–50 Rule for your projects

Here’s a 5-step process for using the rule for your next ambitious project.

Step 1: Define what 100% of the results mean for your project

Be as clear as possible on that. Use quantifiable metrics:I want my users to make at least $100/month writing one hour a day five times a week.I want my users to learn one new skill every month.I want my users to achieve 80% of the goals they set for themselves every month.I want my users to get 50% more views on their articles.Try to limit it to one or two quantifiable metrics at most. What is the real value you bring to your users with the product or service?

Step 2: Define what tasks and actions need to be done to get to 100% of the results

How is the product or service going to get built? Is it a course, a website, a spreadsheet template, a custom-built software, a physical product, a service, something else?What are its components? How many web pages? What are they? How many worksheets? What are they? What material do you need to build the product? Do I need a community?What action steps do you need to take? Can you do this alone? Do you need freelancers? Do you need to go to the store and buy material? Do you need to contact anyone?

Step 3: Rate how critical each task and action is to the intended result using a percentage

For each of the components from step 2, figure out how much each contributes to reaching the desired results. Spend a good amount of time on this.If we use the coaching example, 100 percent of the results means helping your customers reach the goals you set together.Here’s how one might break it down (there’s no right or wrong):1%: Create a home page for a website1%: Create a contact page for a website1%: Integrate a payment system on the website1%: Set up an email provider1%: Set up a customer database1%: Set up a calendar1%: Sign up for a video call software (or use phone if operating within the same country)5%: Strategic planning60%: Do the calls27%: Follow up with your clientI’m greatly simplifying everything here, but looking at this, you can understand how overwhelming it may seem at first until you realize that most of the tasks don’t bring you closer to the results.Find solutions that take care of the barriers to entry, which typically don’t bring results. In that example, Magnifi.io takes care of all of the above except for the last three. That’s your job! 🙂

Step 4: Combine the tasks and actions leading to about 50% of the results

To use another example, if I want my users to get 50% more views on their articles, what components deliver roughly 50% of the results?The headline is always the number one thing to focus on to get more views. The product, therefore, needs a good way to craft better headlines.

Step 5: Figure out which existing tools you can use for each task and action, and how to combine them to achieve 50% of the results.

This is very important. Don’t re-invent the wheel if you don’t need to! There are so many great tools out there to make products and services really quick.By combining the above tools, you can create many different types of products and services in less than a day.

Step 6: Use your mailing list, friends, local events, and social networks to promote the new product or service.

Most products or services you’ll create in a single day won’t have a very high price tag. A mailing list, however small, should bring you some sales. On your next newsletter, casually mention your new offering after you add value to them for free.You can also show it to your friends. They may not buy but they can spread the word for you and give you testimonials. Word of mouth is still incredibly powerful. Try to show people one-on-one for a more personal interaction.You can promote on social media but always remember that people buy from people. Anything that looks like an ad will not work. Make it a story.An overlooked way to sell is the join local events and mastermind groups. Inevitably, you’ll talk about yourself and what you do. Many times people will be curious and ask for more. Many are genuinely helpful and will either buy your product or help spread the word.

More examples to get you started

Create an email course

A few people I know created a course that was distributed solely by using email. It consisted of sending one important lesson every day for 30 days. This can easily be done using Mailerlite, Mailchimp or any mailing list product. If you have the content already, putting the product together should take no time at all. If you don’t have the content already, well, you’ve got a day between each email!Depending on your “renown,” you can charge anywhere from $30 to $300 for such a course. If you make a single sale that day, you’ll already make $30. But what’s nice about an email course is that you’ll continue making money after its release, constantly increasing its value.

Create a paid newsletter

Niklas Göke started a paid newsletter called Empty Your Cup using Substack. Within an hour, you can get it running , start building a list, and send emails. You can use Patreon in a similar way also, like Shannon Ashley did here.Nik charges $5/month for it and signed up many people. This takes much less than 24 hours to get running and can bring you good recurring revenues.Similarly, Shannon charges $5 or up to $20 per month for it.

Create an eBook from content you’ve already written

My first three books were put together in less than a day because the content was already written. I used Scrivener to take the best content from some of my most popular articles and I created books out of it. I published on Amazon Kindle and each book was approved within 24 hours.Using Amazon Kindle, you can promote your book for free for a short period of time so you can gather invaluable reviews. Once you have a few reviews, the sales can pick up decently enough. If you do things right, selling 100 copies within a month is certainly doable, and the more reviews you gather, the easier it becomes to sell.

Create spreadsheet templates

My productivity tools are Airtable templates. They are worth something because they are organized in ways that save people time. And many people are not creative or knowledgeable enough to get them started from scratch.I was charging $100 for the whole package and sold over 10 of them within the first week. Implementing these templates took me about 7 hours in total, so that’s worth more than $100/hour and they keep making me more for months after.

Conclusion

The 1–50 Rule is about releasing a product built in one day that provides 50% of the value to the user, then scaling from there.This approach accomplishes two amazing things:You receive early feedback from your users; andSome money to help you bring it to the next level.With baby steps, you can reach 100% results while getting both money and valuable feedback from your early adopters.So, next time you think of another big and ambitious project, think about the 1–50 Rule. Think outside the box and figure out what tools you can combine in creative ways to build your product or service. Using the 1–50 Rule, you can start making profits within less than 24 hours.It’s time to outpace your competition and try the 1–50 Rule out for your next project!You can do this!

Startups

This Is What It Takes to Go from $0 to $1 Million in Less Than One Year

I came across an individual who figured out how to start a successful business from zero multiple times.No resources, no capital, no investors.His name is Michael Sherman, a Long Island native. He launched his latest business LetterDash in July 2018. One year later, he says his business is on track to pull in over $100,000 in revenue in July 2019.Previously, he started a handful of other businesses, including Qualified Impressions, which reached $2M per year before decline, Penalty Be Gone, $500,000 before decline, and Great Agencies, $100,000 per year.I was intrigued to know what his process looks like: what, exactly, does he do to build these companies?So I reached out, and picked his brain over a chat. Here’s what he said.

Michael Sherman’s Story

By
Stephen Moore in Entrepreneur’s Handbook

Michael Sherman, CEO of LetterDashWhen I ask Michael to define what he does, he says that he’s not sure what to call his “profession.”Before becoming what he is today, he gave the 9–5 a shot — about 10 times.His résumé of jobs is varied. In no particular order, he has done door-to-door sales selling vacuums, worked at Home Depot and McDonalds, became a licensed investment banker, tried his hand at computer tech, and even became a licensed bartender.His education is no different. Michael transferred in and out of a total of five different universities before finally graduating, and that was all after dropping out of high school.Nothing gave him the excitement or passion he craved. So he took a different path — entrepreneurship — and never looked back.Each business Michael built achieved a healthy profit — and he did that with nothing more than his brain, a laptop, and a couple of Google Ads coupons.His latest company, LetterDash, an on-demand legal letter sending service, just turned one year old. Michael shared some of the financial figures from the year so far —July 7, 2018 — spent $18; generated a single lead; generated $4,000 during month 1.August — about $11,000.January — about $56,000.May 2019 — about $79,000.June 2019 — about $105,000.July 2019 — Over $100,000 (final numbers aren’t in yet).But Michael has gained far more than just money from LetterDash. The experience has been full of learning, and below he shares the lessons you can learn from his journey.

1. Don’t Rush to Raise Capital

When he started LetterDash, he didn’t need or want to raise capital. He explained that raising capital only adds layers of complications and pressure.“These pressures come in many forms — pressure to grow fast, pressure to hire, pressure to put up numbers.”And this pressure can lead to bad decisions, he warns.In the end, he started the business with a bank account of zero, no framework, and no plan.There was nothing but an idea. He says that all you need in the early days is the commitment to grow from there.

2. Don’t Rush Into Development

Michael learned this lesson the hard way. He invested heavily in building software applications for previous companies and all of the businesses failed miserably.He had learned that the software produced was never the problem. The problem was that he had focused solely on his vision and on how it would be executed, before figuring out who the software was for.In the case of LetterDash, he says that the software they would have developed would have automated the interactions between the client, LetterDash, and the attorney.But now that the company is up and running, he sees that it would have been completely useless, and was able to dedicate resources elsewhere.His advice?“Get customers first, build your software later. It’s cool to say you have software, it’s much cooler to say you have revenue from paying customers.”

3. Start Small …and Boring

Getting to a million is never easy. It might be easy for the Elon Musks of the world, those with deep connections and vast resources, who can spend millions in advertising and infrastructure.For all the Michael Shermans out there, it’s easier said than done.He said his approach to building LetterDash was boring and straightforward.“We spent about 15 minutes of keyword research using the Google Ads Keyword Tool. There was enough search volume being reported to warrant the green light and test the idea. We came up with a business name, found a cheap .co domain and threw up a very basic, yet credible looking website.”This is a point worth emphasizing. The purpose of the website is to generate leads and validate demand. If both of these are ticked, there is scope to build bigger down the line.“We spent about $100 on web development. We found a Google Ads coupon, I believe it was $100 free for spending $25, we put together a barebones ad campaign and started sending traffic to the site. Twenty-four hours later, we received our first client request. A week later, we had a dozen requests.”This was the indicator he was looking for, and he was now ready to hire some attorneys and begin scaling.

4. You Need to Obsessively Tweak

“There wasn’t a single action or moment that led to success or the $1M in revenue. I’d say there might have literally been a million little tweaks and ideas tested along the way.”Michael says that as they received customer feedback, they began to analyze the success of the letters being sent out by one attorney to another. As they went through responses to the attorneys’ letters, they continuously tested newideas.“We’re constantly tweaking and optimizing the letterheads, the shipping method, the packaging, the presentation, even the language used by the attorneys in the letters.”That same customer feedback led to the formulation of new products and ancillary services that significantly boosted company revenue, without having to worry about new user acquisition costs.“Listening to the customers, what they want and what they need after the primary service was delivered has been key.”

5. Invest in Customer Success

Customers are everything. Their feedback and word of mouth are critical to expanding your client base, and in being able to improve and expand your service.With LetterDash, customer service has played a major role in the growth of the company.“The many 18 hour workdays and time we spent focusing on each tiny thing to make sure the customer was blown away by the service have all been a major factor in our explosive growth and ability to reach that $1M milestone,” says Michael.The biggest lesson here is to focus on customers’ feedback and to use it to improve your service. You must always be focused on making sure every customer is a satisfied one, even when in reality that likely cannot be achieved.

“My Advice Is Nothing Unique”

You might have noticed that the advice Michael offers is nothing unique. You’ve likely seen a lot of it before. And that’s exactly the point. As he said himself, it’s boring and straightforward.But this means it’s replicable. It’s a process that anyone can follow to achieve similar successes.The key takeaway here for entrepreneurs is this: Don’t focus or obsess on anything other than validating demand for your product or solution. In the end, nothing else matters if you don’t have a market.

Leadership

6 hostage negotiation techniques that will get you what you want

July 1, 2019

Eric Barker

This article originally appeared at Barking Up the Wrong Tree.


These are the techniques that FBI hostage negotiation professionals use to get information and achieve results. Photo: Fort Bragg via FlickrHow does hostage negotiation get people to change their minds? The Behavioral Change Stairway Model was developed by the FBI’s hostage negotiation unit, and it shows the 5 steps to getting someone else to see your point of view and change what they’re doing. It’s not something that only works with barricaded criminals wielding assault rifles — it applies to most any form of disagreement.

There are five steps:

  1. Active Listening: Listen to their side and make them aware you’re listening.
  2. Empathy: You get an understanding of where they’re coming from and how they feel.
  3. Rapport: Empathy is what you feel. Rapport is when they feel it back. They start to trust you.
  4. Influence: Now that they trust you, you’ve earned the right to work on problem-solving with them and recommend a course of action.
  5. Behavioral Change: They act. (And maybe come out with their hands up.)

The problem is, you’re probably screwing it up.

What you’re doing wrong

In all likelihood you usually skip the first three steps. You start at 4 (Influence) and expect the other person to immediately go to 5 (Behavioral Change).And that never works.Saying “Here’s why I’m right and you’re wrong” might be effective if people were fundamentally rational.But they’re not.From my interview with former head of FBI international hostage negotiation, Chris Voss:…business negotiations try to pretend that emotions don’t exist. What’s your best alternative to a negotiated agreement, or ‘BATNA’?  That’s to try to be completely unemotional and rational, which is a fiction about negotiation. Human beings are incapable of being rational, regardless… So instead of pretending emotions don’t exist in negotiations, hostage negotiators have actually designed an approach that takes emotions fully into account and uses them to influence situations, which is the reality of the way all negotiations go…The most critical step in the Behavioral Change Staircase is actually the first part: active listening. The other steps all follow from it. But most people are terrible at listening. Here’s Chris again: If while you’re making your argument, the only time the other side is silent is because they’re thinking about their own argument, they’ve got a voice in their head that’s talking to them. They’re not listening to you. When they’re making their argument to you, you’re thinking about your argument, that’s the voice in your head that’s talking to you. So it’s very much like dealing with a schizophrenic. If your first objective in the negotiation, instead of making your argument, is to hear the other side out, that’s the only way you can quiet the voice in the other guy’s mind. But most people don’t do that. They don’t walk into a negotiation wanting to hear what the other side has to say. They walk into a negotiation wanting to make an argument. They don’t pay attention to emotions and they don’t listen. The basics of active listening are pretty straightforward:

  1. Listen to what they say. Don’t interrupt, disagree or “evaluate.”
  2. Nod your head, and make brief acknowledging comments like “yes” and “uh-huh.”
  3. Without being awkward, repeat back the gist of what they just said, from their frame of reference.
  4. Inquire. Ask questions that show you’ve been paying attention and that move the discussion forward.

So what six techniques do FBI hostage negotiation professionals use to take it to the next level?

1. Ask open-ended questions

You don’t want yes/no answers, you want them to open up. Via Crisis Negotiations, Fourth Edition: Managing Critical Incidents and Hostage Situations in Law Enforcement and Corrections: A good open-ended question would be “Sounds like a tough deal. Tell me how it all happened.” It is non-judgmental, shows interest, and is likely to lead to more information about the man’s situation. A poor response would be “Do you have a gun? What kind? How many bullets do you have?” because it forces the man into one-word answers, gives the impression that the negotiator is more interested in the gun than the man, and communicates a sense of urgency that will build rather than defuse tension.

2. Effective pauses

Pausing is powerful. Use it for emphasis, to encourage someone to keep talking or to defuse things when people get emotional. Gary Noesner, author of Stalling for Time: My Life as an FBI Hostage Negotiator has said: Eventually, even the most emotionally overwrought subjects will find it difficult to sustain a one-sided argument, and they again will return to meaningful dialogue with negotiators. Thus, by remaining silent at the right times, negotiators actually can move the overall negotiation process forward.

3. Minimal Encouragers

Brief statements to let the person know you’re listening and to keep them talking. Gary Noesner: Even relatively simple phrases, such as “yes,” “O.K.,” or “I see,” effectively convey that a negotiator is paying attention to the subject. These responses will encourage the subject to continue talking and gradually relinquish more control of the situation to the negotiator.

4. Mirroring

Repeating the last word or phrase the person said to show you’re listening and engaged. Yes, it’s that simple — just repeat the last word or two: Gary Noesner: For example, a subject may declare, “I’m sick and tired of being pushed around,” to which the negotiator can respond, “Feel pushed, huh?”

5. Paraphrasing

Repeating what the other person is saying back to them in your own words. This powerfully shows you really do understand and aren’t merely parroting. From my interview with the former head of FBI international hostage negotiation, Chris Voss: The idea is to really listen to what the other side is saying and feed it back to them. It’s kind of a discovery process for both sides. First of all, you’re trying to discover what’s important to them, and secondly, you’re trying to help them hear what they’re saying to find out if what they are saying makes sense to them.

6. Emotional Labeling

Give their feelings a name. It shows you’re identifying with how they feel. Don’t comment on the validity of the feelings — they could be totally crazy — but show them you understand. Via Crisis Negotiations, Fourth Edition: Managing Critical Incidents and Hostage Situations in Law Enforcement and Corrections: A good use of emotional labeling would be “You sound pretty hurt about being left. It doesn’t seem fair.” because it recognizes the feelings without judging them. It is a good Additive Empathetic response because it identifies the hurt that underlies the anger the woman feels and adds the idea of justice to the actor’s message, an idea that can lead to other ways of getting justice. A poor response would be “You don’t need to feel that way. If he was messing around on you, he was not worth the energy.” It is judgmental. It tells the subject how not to feel. It minimizes the subject’s feelings, which are a major part of who she is. It is Subtractive Empathy. Curious to learn more? To get my exclusive full interview with the former head of FBI hostage negotiation Chris Voss (where he explains the two words that tell you a negotiation is going very badly) join my free weekly newsletter. Click here. Join over 140,000 readers. Get a free weekly update via email here.


For Your Body

How to Stop a Stroke Before It Happens

Feeling perfectly healthy? Chances are, your doctor still orders certain tests—called “screening tests”—that check for conditions such as colon cancer or osteoporosis that might be lurking and could be treated.So why not a screening test for stroke risk?We know that people living in the US have nearly 800,000 strokes each year and that 80% to 90% of those strokes are caused by blood clots. Many of these strokes originate from clogged carotid arteries—large arteries in the neck that feed blood to your brain. Like the arteries that feed your heart, these can be narrowed by plaque buildup as you age.

This may surprise you: There is a test that can detect such blockages. It’s a simple ultrasound of your neck that costs about $70 to $300 (depending on where you live) and sometimes is covered by insurance.However, no major medical group advises checking the carotid arteries of all adults—due to concerns that many questionable results will turn out to be wrong, leading to needless worry, costly follow-up testing and risky surgeries.But some medical groups, such as the Society for Vascular Surgery, the American Heart Association and the American Stroke Association, think it makes sense to test certain people who are at increased risk for a stroke from a clogged carotid artery.

The danger: Without testing, too many people, while clinically asymptomatic, will unknowingly suffer one or more symptomless “silent strokes”—small, repeated insults to the brain caused by inadequate blood flow, which over time can lead to decline in cognitive function. Unsuspecting people with blockages also may ignore signs oftransient ischemic attacks, or TIAs (also known as “ministrokes”)—brief attacks that produce passing stroke symptoms that may last only for a few minutes, such as weakness of an arm or leg, brief loss of vision or difficulties speaking. Ministrokes can be the precursor to a bigger and permanently damaging stroke. Still other people will get no warning before a stroke that leaves them disabled or dead, further adding rationale for the screening test.

Should You Get Scanned?

While guidelines from medical groups vary, many doctors—including myself—say that you should consider a potentially lifesaving scan of your carotid arteries if one or more of the following apply to you…

• A “bruit” in your neck is detected by your doctor. This abnormal sound, detected by a stethoscope during a routine physical exam, can indicate a narrowed artery—especially when it’s accompanied by other stroke risk factors, such as high blood pressure. Note: Your doctor should listen for a bruit on both sides of your neck. In some cases, patients actually can hear a “whooshing” sound in their ears.• You are over age 65and have multiple stroke risk factors, such as smoking, elevated cholesterol, high blood pressure and/or diagnosed coronary artery disease.

• You have been diagnosed with peripheral artery disease (PAD). This narrowing of the leg arteries can cause leg pain, particularly when walking. If the arteries feeding your limbs are clogged with plaque, the arteries in your neck may be, too.

• You have worrisome results from an ankle-brachial index test. With this test, your doctor compares your blood pressure readings at your ankle and upper arm. The test can indicate PAD, so it’s recommended for people with suspicious symptoms in their legs, including pain, numbness or weakness, but also is sometimes used as a broader screening tool for artery health.

• You have had symptoms of a ministroke. This might include weakness or numbness on one side of your body or slurred speech. Even if the symptoms lasted for just a minute or two, they are serious. People who have a ministroke are at high risk for a bigger stroke, most often in the first few days, but also in the months and years ahead. If you have possible ministroke symptoms in the future: Treat them as a medical emergency, and call 911 right away.

Important: If you decide, in consultation with your doctor, to get a carotid ultrasound, make sure that you get the gold-standard test, called a carotid duplex ultrasound, from a laboratory accredited by the Intersocietal Accreditation Commission (IAC). The test, which requires no preparation, can take up to 30 to 60 minutes. You will be asked to wear loose-fitting clothing that allows the technician to access your neck. If there is significant plaque in a carotid artery, the lab report should say how extensive the blockage is and describe the characteristics of the plaque in a way that will help your doctor assess your risks.

You have worrisome results from an ankle-brachial index test. With this test, your doctor compares your blood pressure readings at your ankle and upper arm. The test can indicate PAD, so it’s recommended for people with suspicious symptoms in their legs, including pain, numbness or weakness, but also is sometimes used as a broader screening tool for artery health.

• You have had symptoms of a ministroke. This might include weakness or numbness on one side of your body or slurred speech. Even if the symptoms lasted for just a minute or two, they are serious. People who have a ministroke are at high risk for a bigger stroke, most often in the first few days, but also in the months and years ahead. If you have possible ministroke symptoms in the future: Treat them as a medical emergency, and call 911 right away.

Important: If you decide, in consultation with your doctor, to get a carotid ultrasound, make sure that you get the gold-standard test, called a carotid duplex ultrasound, from a laboratory accredited by the Intersocietal Accreditation Commission (IAC). The test, which requires no preparation, can take up to 30 to 60 minutes. You will be asked to wear loose-fitting clothing that allows the technician to access your neck. If there is significant plaque in a carotid artery, the lab report should say how extensive the blockage is and describe the characteristics of the plaque in a way that will help your doctor assess your risks.

What’s Next?

If your carotid scan shows no significant blockage, continue taking steps to lower your stroke risk—control blood pressure and cholesterol, maintain a healthy body weight and don’t smoke.What if your carotid testing indicates trouble? Here are the rules of thumb…

•If less than 50% to 60% of your artery is blockedand you have no symptoms, you will likely be advised to continue or add medications that reduce your stroke risk, such as a statin for high cholesterol, aspirin to reduce clotting and medication to lower your blood pressure. If you smoke, you will have a powerful new reason to quit.

• If your blockage is 60% or more but you have no symptoms, surgery (called a carotid endarterectomy)to remove the plaque may be needed, depending on the severity of the narrowing and the character of the plaque…or if there has been increased narrowing over time. If surgery is not indicated, drugs and lifestyle changes are recommended, and scanning should be repeated every six to 12 months to watch for progression.

• If you have a blockage of 50% to 99%and symptoms, the choices are clearer. Unless you have a condition, such as severe, noncorrectable coronary artery disease, heart failure or severe chronic obstructive pulmonary disease (COPD), that makes such procedures too risky, endarterectomy or a stent to open your clogged artery likely will be offered. Stenting is considered more appropriate for symptomatic patients who are too high risk for endarterectomy.

Caution: These procedures can reduce your long-term stroke risk, but they both carry risks of causing an immediate stroke or death by dislodging plaque and sending it to your brain.

My advice: If you are considering one of these procedures, look for a highly experienced surgeon and hospital—and ask for their complication rates. With a top-notch team, stroke or death rates following endarterectomy or stenting should be no more than 2% to 3% for asymptomatic patients…and no more than 5% to 6% for symptomatic patients.

Source: Bruce A. Perler, MD, MBA,a practicing vascular surgeon at Johns Hopkins Medicine and the Julius H. Jacobson II, MD, Endowed Chair in Vascular Surgery at Johns Hopkins University School of Medicine, both in Baltimore. Dr. Perler is author of nearly 200 peer-reviewed medical journal articles and textbook chapters and has edited several textbooks, including Rutherford’s Vascular Surgery and Endovascular Therapy. Date: March 1, 2019 Publication: Bottom Line HealthMeasureMeasure

For Your Body

For Relief from Common Aches and Pains, Change the Way You Sleep

Whether you like to curl up on your side or sprawl flat out on your stomach, you probably have a favorite sleeping position. But did you know that if you suffer from common aches and pains, this familiar position might be aggravating your pain?Here’s how to adapt your preferred sleeping style for pain relief and bettersleep…

Neck Pain

Back-sleeping is often said to be the best position for neck pain. But back–sleeping can actually increase neck discomfort when using a pillow that’s too thick (which causes the head to flex forward) or too thin (which causes the head to flex backward).For back-sleepers: Be sure to use a pillow that keeps the neck in a neutral position, in line with the spine. When viewed from the side, the ear should be in line with the shoulders or slightly above them.For side-sleepers: Add a thin pillow or rolled-up bath towel between the neck and the mattress in addition to your regular pillow to provide neck support and prevent the spine from bending to either side.For stomach-sleepers:This position is the worst for neck pain because you’ll need to turn your head to one side or the other, which puts strain on the neck. It’s best to try another position, if possible.

Low-Back Pain

Many people say that their backs feel better when they sleep on their backs, particularly if they use a pillow or two to slightly elevate the knees. But side-sleeping often feels more natural.For side-sleepers: Lie on one side in a “stacked” position, with your shoulders, knees and hips in up-and-down alignment and knees slightly bent. Helpful: Place a pillow between your knees. This helps to prevent the top leg from rolling over the bottom, which can twist the spine.For stomach-sleepers: This position can strain your lower back. However, if you find it difficult to try the positions above, place a pillow under your stomach to reduce excessive spinal extension.

Knee Pain

With knee pain, back-sleeping can be painful because the knees are extended all night…but side-sleeping can cause irritation where the knees touch.For back-sleepers: Try placing a pillow under the knees to prevent them from overstraightening. Note: This position can be painful for some people.For side-sleepers: Sleep with a pillow between your knees or use cloth knee pads (such as those that volleyball players wear), turning them sideways so that the area where the knees touch is well padded.For stomach-sleepers: This position can put painful pressure on your knees. But if it’s tough for you to switch to one of the above positions, put a pillow under your stomach to take some pressure off the knees.

Hip Pain

For back- or stomach-sleepers: People with arthritis-related hip pain often have more pain when sleeping on their back or stomach. It’s best to try side-sleeping (see below). However, a small pillow under the knees (when lying on your back) or under the stomach (when lying on your stomach) may provide some relief.For side-sleepers: Side-sleeping is usually best for arthritis-related hip pain. Helpful: Keep your knees slightly bent and use a pillow (a body pillow works well) between the knees and thighs to keep the hip in a more neutral position. If lying on one side is more painful than the other, switch sides.

You Can Change How You Sleep

When you get into bed, start in the position in which you would like to sleep. Then spend about a minute visualizing yourself staying in this position for the night. If you wake up and are out of position, calmly go back to the position you are trying to change to. In most cases, good progress can be made in four to six weeks, but it’s something you’ll need to keep working on—it’s easy to fall back into old habits.

Source: Matthew O’Rourke, PT, DPT, CSCS, OMT, adjunct professor of physical therapy at Simmons University in Boston and a physical therapist in the outpatient clinic at Lahey Hospital & Medical Center in Burlington, Massachusetts. Date: March 1, 2019 Publication: Bottom Line HealthMeasureMeasure

For Your Body

7 Smart Ways to Control Nighttime Eating

Staring into the fridge again? Whether you’re trying to lose weight or simply not gain any, nighttime snacking can spell disaster. In fact, the calories we eat at night may play a more significant role in weight gain than the ones we eat at breakfast and lunch simply because of how the body works.A Japanese study found that, in a perfect world, we should stop eating two hours before going to bed. While that might work in Japan, the American lifestyle often means staying up late, past 11 pm or even midnight because of work deadlines or social demands, and you may want a snack at night.Willpower weakens as you get fatigued, so having a strategy to deal with nighttime noshing is key. Here’s advice from Stephen P. Gullo, PhD, a health psychologist who has specialized in weight control for four decades.

FIRST, SET THE GROUND RULES

Don’t mistake sleepiness for hunger. In the hours after dinner, as your body moves into sleep mode, there’s no more need for food. But if instead of going to bed, you stay up to read a book, watch TV or pay bills, you may feel the urge to eat. Acknowledge that this snack attack isn’t true hunger because you’ve probably already eaten enough for the day. Satisfy the urge with a glass of water or a cup of caffeine-free herbal tea. If you make it so hot or cold that you can only sip it, you can trick yourself into feeling full.

Identify your snacking patterns. Many evening activities lend themselves to mindless or mood-triggered eating. You may munch as you watch TV or pay those bills, not noticing as the food disappears. Or perhaps you’re anxious about the day’s events, so you eat to forget your troubles. Separate mood from food, and find other ways to express emotions, such as journaling, calling a friend or distracting yourself with a novel. It also helps to acknowledge your “food genes.” Are you wired for sweets or for salty foods? Be especially mindful of the tastes you typically crave—you’ll want to avoid these triggers when making snack choices. For instance, one cookie won’t satisfy someone with a sweet tooth, but one salty chip might. Don’t feel guilty about your likes—just work with them.Reality check: Think historically, not just calorically. For one week, write down what and how much you eat at night…and what you’re doing and how you’re feeling as you snack. Then, to change your habits, plan your snack schedule in advance, listing healthful foods in your journal and what time you will eat them. Eating meals with a definite structure may also help squash nighttime temptation. Having small amounts four or five times a day optimizes metabolic efficiency and keeps blood sugar stable. Result? Less hunger and mindless eating.

Make a “no-shopping” list. To keep food out of mind, keep it out of house. When nighttime cravings kick in, people rarely rush out to the store to buy them—they satisfy their cravings with what’s already on hand. Do you keep your kitchen stocked with favorite snacks? This opens the door to constant temptation. Availability creates craving, and variety stimulates consumption. It’s easier to resist just once…when you’re at the supermarket.Smart: On your shopping list, include a separate section for foods you won’t buy. Review your shopping cart before you hit the checkout line and put back anything on that list. Make a point of creating a shopping list of healthy options—if berries and carrots aren’t written down, you may not remember to buy them.

Eat a better dinner. Make this meal high in protein—eggs, white meat (turkey or chicken) or seafood—and vegetables that are low in starch and sugar. Avoid high-starch foods such as potatoes, rice, corn and pasta (as well as pizza and burritos). They stimulate insulin production, which causes the body to store more calories as fat—and nighttime is when you’re most vulnerable to fat storage. If you’re going to eat high-starch foods, have them at lunch. On the other hand, don’t confuse a light dinner with a small dinner—you can have a large volume of shrimp and green beans, for instance.

WHEN HUNGER STRIKES, SNACK SMARTER

It’s hard to go cold turkey with nighttime noshing, but it’s possible to snack smarter if you can’t shake the habit completely. And sometimes you’re truly hungry because you forgot to eat or have to work late and can’t focus without food. That’s fine—as long as you stick mostly to healthful foods and reasonable portions. Yet it’s all too easy to overindulge. You might be too distracted to notice how much you’re nibbling, so eat mindfully.

Eat dinner—again. If you find yourself wanting to eat nonstop at night, your behavior is saying that you’re seeking greater volume and a longer eating time. For many, having a small sweet treat stimulates rather than satisfies the appetite, so a paltry-yet-calorie-dense smidgen of fudge only leads to frustration or, worse, acts as a trigger for eating more. Have a satisfying, high protein mini-meal instead. For people whose habit is to nibble all through the evening, having this extra meal, which takes some time to prepare and eat, will be much more satisfying than a snack that can be gobbled down in four spoonfuls, such as a diet pudding.Consider: An egg plus an extra egg-white (to add volume without too many calories) omelet with sautéed veggies…a shrimp cocktail with a green salad…homemade tuna salad made with a tablespoon of light mayo or no-fat plain Greek yogurt…or zucchini “pasta” with a tablespoon of fresh Parmesan cheese. Be sure that your favorites from these choices make it onto that shopping list above. And because foods placed at eye level in the front of the fridge will seem to call your name, put them there.

Choose wisely when a packaged snack is your only option. Caught at a convenience store on your way home or on the road? Shop for a premeasured high-protein snack that clocks in at about 100 calories. Choose a food low in carbs and sugar. A container of plain Greek yogurt with fresh fruit, a cheese stick, nuts, high-fiber crackers or a low-calorie ice cream or frozen yogurt bar are all acceptable choices. Do a reality check before choosing: Does the food satisfy or stimulate? For instance, if you know that once you eat a bag of salty crackers, you’ll be reaching for another one, firmly say to yourself, “That choice doesn’t work for me,” and pick something else. Also pay attention to packaging size. Look for single servings—no large bags or containers that encourage mindless overeating.

Close the kitchen. After you’ve had your last meal or smart snack, turn off your kitchen lights. People don’t like to go into a dark room, so this simple step can help keep you from going back to the fridge just one more time. Then go brush and floss your teeth—no one wants to floss twice in an evening!

Source: Stephen P. Gullo, PhD, psychologist and expert in the behavioral nutrition approach to weight loss, president of the Center for Health and Science, New York City, and author of The Thin Commandments Diet: The Ten No-Fail Strategies for Permanent Weight Loss

Startups

Planning Your Exit Should Begin When You Launch

Greg Shepard
GUEST WRITER
CTO of Pepperjam

 

Entrepreneurs may not want to think of their companies as “products,” but the truth is, the vast majority of successful startups end in acquisitions. In 2017, mergers and acquisitions accounted for 93 percent of the 809 venture capital-backed exits, yielding a total of $45.6 billion in disclosed exit value, according to the National Venture Capitalists Association’s 2018 NVCA Yearbook.
A recent Silicon Valley Bank survey revealed that more than half of today’s health and tech startups are “hoping for an acquisition.” But hope isn’t enough to make it happen. From the beginning, entrepreneurs need to think about the profiles of companies that might potentially acquire them, and align their strategies, team hires and products with these companies to build the right foundation for mutually beneficial acquisitions later on.
To achieve this alignment, entrepreneurs should start by creating the Ideal Customer Profile (ICP), Ideal Employee Profile (IEP) and the Ideal Buyer Profile (IBP). As operations develop, the next step is to develop partnerships with some of those potential acquirers — ideally, innovative companies likely to perceive the emerging startup’s worth and that might eventually consider buying the company. When it’s time to exit, those longer-term partners will rate the startup’s value higher than if the relationship just began at the bargaining table.

Establish your target audience.

At fast-paced startups, standard operating procedure for entrepreneurs is to take a “ready, fire, aim” approach instead of practicing “ready, aim, fire.” It might surprise many entrepreneurs to know that, according to research by Crunchbase, many exit opportunities come early — the overwhelming majority before a company’s series B funding.
The profile for your ideal customer is the person or entity that needs your product or service the most; your job is to determine what that prospect is not getting from your competitors, or the marketplace in general, and how you can best fill that void.
When thinking about employees, it’s important to determine — before you start the hiring process — what kind of training, experience and expertise your team will need to build and market your product most effectively. Hiring the right talent can be a huge draw for potential buyers, some of which purchase companies in order to acquire teams, a process commonly referred to as “acqui-hires.” According to the Huffington Post, Mark Zuckerberg told an audience in 2010 that “Facebook has not once bought a company for the company itself. We buy companies to get excellent people.”
Once you’ve nailed down the attributes of your ideal customers and employees, you will be better equipped to develop prospects for your optimal buyer pool. The key is to find companies that serve similar markets, so you can design your product and business model to address unmet needs within that customer base. If a company perceives the importance of that need but, for one reason or another, does not serve it, it could be much more likely to consider an acquisition in the future.

Partner with the right people.

Your company may offer an essential product or service that a potential buyer is missing, but it is also crucial for the two of you to be on the same page strategically, culturally and philosophically. Nearly 45 percent of respondents to a survey of corporations and startups by MassChallenge and Imaginatik cited “strategic fit” as the most important factor in success or failure of a startup relationship.
Disruptors should seek out companies that are truly driven by innovation — perhaps those that have already established or partnered with innovation labs or accelerators. Those types of organizational environments typically feel much less “corporate,” and leaders are often more receptive and open to collaboration with startups.
Entrepreneurs should also look outside of their own industries. Approximately 70 percent of all tech deals in 2016 involved buyers from outside the tech sector, according to management consulting firm BCG.
Before defining a shortlist of potential corporate partners, entrepreneurs need to ask themselves several questions: Where could my company fit in the larger organization? Will the company’s existing team be able to sell and service my product? Will its customer base see (and pay for) the added value of the product I’m offering? Aligning your startup to a partner based on these attributes will improve the likelihood of a potential acquisition — and, ultimately, your startup’s value — if that company moves forward with a purchase.

Reap what you sow.

Once you’ve found potential corporate partners and have raised your initial funding, spend the time really getting to know them. What is a given company’s standard of excellence? What exactly will it pay for, and how much will it pay? And, perhaps most importantly, what do you offer that your partner company can’t produce itself?
Although most interactions between startups and corporations traditionally begin at the negotiation table, corporate players increasingly recognize the benefits of earlier interactions. The MassChallenge and Imaginatik survey found that 67 percent of companies prefer working with startups in earlier stages, mainly “to explore new technologies and business models.” And it found that a full 82 percent of corporations view interactions with startups as “somewhat important” to “very important,” with 23 percent indicating that these interactions are “mission critical.” Innovation efforts are no longer on the fringe of most corporations.
Corporate partnerships are essential for forward-thinking young startups. During the most critical phase of development, startups can derive significant benefit from their partner’s resources, mentorship and insights. Building strong professional relationships between these organizations can also set the stage for a smooth transition if a merger or acquisition ultimately takes place.