Checklist When Buying Industrial Premises for Business Use

Industrial premises are very important because it has various uses. It can be used for storage, manufacturing and for the workplace. It is important that when buying a commercial property to use it for business, it is thoroughly checked. A background check prevents problems in safety and damages. Buying an industrial property may have underlying risks which are often undetected until you’ve purchased the property. Do a thorough check before going through with any sale.

When buying a property the first thing to check is the safety of the environment. Regardless if it is used for storage, manufacturing or office, it must have a building permit. Having a permit means it has passed the standards of safety especially on seismic requirements. These structures are usually large therefore it is heavy. It needs a lot of safety measures installed so that in case of emergency, the safety of employees as well as manufactured products is maintained.

From checking the safety of the place, the accessibility is also very important. When using the place for manufacturing, there should be enough space inside for tractors to move about in transporting materials. This is one way of making operations smooth and ensuring fast delivery time. Having a good road for travel is also important especially if the place is to be used for an office, outlet or manufacturing.

Checking for damages and things to repair is a must. This must clearly be reported by the agent or space owner before the contract of sale is signed. Buyers need to know such to ensure repairs are made before the place is used. Any damages can be unsafe for people working inside and it may potentially disrupt operation.

The space of the place must be enough depending on how it will be used. For instance, if it is a storage place it means there will be transportation of items done. The place therefore should give space for delivery trucks. If the place is to be used for an, office it should allow free movement of employees inside. Otherwise this can be very uncomfortable for people inside and problems and complaints may arise later on.

Be sure to also check that facilities such as lighting and water supply are complete. These are very basic amenities needed in a commercial space. Otherwise if there are problems in access to water and electricity no businessman would ever buy such property.

Big-League Customer Advises Bush-League Vendor

Sudden growth is rarely a smooth ride, especially for a boot-strapped venture. Well past their fifth year in business, one small custom manufacturer serendipitous developed a product that met a real need in a niche market populated by industry giants. The vendor’s new customers were used to buying from large, well-managed firms. As a custom manufacturer, this company had the freedom to focus on one customer per product. It wasn’t yet clear to them that they had entered into a phase of development where the signs of professional management would be taken for granted by customers. In this case study, a frustrated customer advises the vendor to learn how to manage their resources to simultaneously (and seamlessly) complete commitments made to past customers and start projects for new customers.

This is one in a series of case studies highlighting “Key Questions and Course-correcting Quotes” taken from 20 years of B2B customer insight projects. All names are fictitious, but the situations are real. Case studies paint a picture of how important it is to learn what your B2B customers think–but aren’t saying. These are real-world examples of how soliciting and acting on customer feedback has helped companies hold onto customers longer, grow relationships bigger and pick up new business faster.

Case study: Your Bootstraps Are Showing

Key Question (asked of a VP–the vendor’s chief contact in a 6-figure relationship):

VP: “This vendor’s president was badly criticized by customers who attended last year’s trade show. He changed how his company prioritizes customer issues. Do they now seem to be on the right track, or are they overlooking a blind spot that’s obvious to you?”

Course-correcting Quote:

“Their president has to get his organizational structure in place and build a senior management team. He has a bandwidth problem. On the one hand, he hasn’t delivered on all his outstanding obligations to his existing customers. On the other, he needs to make enough sales to keep his company afloat. They need to learn not to make contractual commitments for products that take resources away from their existing obligations. Reality for a small company like that is, you have to make the big sale. It takes a lot of discipline to not over-commit. They need to get a better handle on their existing staff’s capacity.”

My Client’s Quandary:

This $7 million vendor had a product that Fortune 50 companies were interested in, but the company was having growing pains. Their founder knew how to design and develop new products, but he didn’t have a lot of management training or experience. His senior managers were two of his buddies with the same technical background and lack of management experience. His company was at risk of being marginalized by a stronger competitor as soon as someone else developed a decent competing product.

More immediately, the president would be facing his customers at an upcoming trade show. He had been badly pilloried a year earlier. Before risking that again, he wanted a customer relationship consultant to conduct deep-dive interviews with his customers and expose the themes and patterns that would clarify which decisions he needed to make.

Conclusion:

Several of his customers gave similar feedback. My recommendation: Acquire experienced outside talent to manage operational and customer-facing functions. He hired the experienced talent he needed, held onto his customers, attracted funding, grew the company to serve additional niche markets, and eventually found a strategic buyer. Honest feedback from his customers helped him find his way and achieve his vision.

I categorize projects as assessments, investigations, treasure hunts or rescue missions. This project was an investigation. The client’s question was “Why are our customers still angry with us?”

Some Information About Hair Extensions

Every woman desires for love and beauty. If possible, most of the women want to try different new looks so that they can be different all the time. How to achieve that easily? The answer is to purchase hair extensions. Most high quality hair extensions are quite expensive, so choosing an affordable extension is important to someone who wants to be fashionable but does not have enough money.

If you want to get your desired look, and also want to protect your hair, you can go with human hair extensions. These extensions can help your hair grow out and keep it shiny and smooth. Since human hair is not cheap, so it is important for you to take care of the extensions made of human hair. Unlike your natural hair, the extensions can not get nutrition and natural supply of moisturizer, so they will look dull and dirty if not being well-maintained. Girls all know that if they take care of the extensions, they can get their desired styles all the time.

How can you give adequate moisture to your brittle, dry and frizzy hair through an easy way? Here are some tips:

1. Do not pull off them when they are tangled. If the hair is really tangled, you can put leave-in conditioner on it and slowly entangle those locks with fingers or by using a wide tooth brush.

2. Apply alcohol free shampoo. Use a good quality, gentle shampoo that is suited for your hair type to protect the hair from getting dry, avoid the harsh styling products. When removing the dirt and build-up from the extensions, do use high quality shampoo.

3. Apply good quality conditioner after shampooing your hair. Make sure to apply a large amount of conditioner to the hair after washing it with the gentle shampoo. The conditioner can make the hair look soft and shiny.

Do apply conditioner about twice a week to keep the hair in good condition.

What benefits can you get from wearing hair extensions?

1. You can get thick and long hair instantly with using hair extensions. If you have thin, fine or limp hair, you can use extensions to add volume as well as length to your hair.

2. If you require a confidence-boosting look for a special occasion, then you can just weave the extensions into spectacular braids and enjoy yourself.

3. You can add highlights or desired colors very easily to the extensions ranging from mild to hot to get an extraordinary look.

To make the most of your extensions, you can get some advice from a local specialist. Make sure you ask how they will minimize the damage to your own hair when the extensions are removed.

Strategic Process for Site Planning

Real estate site selection can be a complex web of evaluating store attributes within a potential store trade area. The process utilizes both a science and an art to the overall selection process combining a number of factors that weigh on the viability of the location. Complicating the process is that each location has its own special attributes, which makes site selection more directional in nature as opposed to a cookie-cutter process. That being said, here are some key attributes that should be considered in the overall evaluation:

Traffic Counts – While these are clearly site specific (think of the difference between a rural site and an urban site), analyzing the traffic counts will help offer a predictability of volume. The key is to understand what the potential traffic patterns are for the site before one can look solely at traffic counts. If a road carries a number of cars, but that road does not feed well into the site, the traffic counts may be misinterpreted. Understand the natural flow into the site before assessing the traffic counts. One way to gain some perspective on how traffic counts mirror volumes is to compare existing site volumes with their traffic counts. Many operators jump right into new site selection without looking back at existing sites and creating a model based on their geographic areas. This may give you a more reliable predictive model for your future sites.

Population Counts – Population count is the next logical indicator for your location. Not only do you want to look at the population count as it stands today – and is it enough to support a site – but also how has it been trending. Positive growth indicates a viable marketplace while negative trends may raise a red flag. In addition, gaining a better understanding of the ethnicity and socioeconomic trends in the trade area will offer a better snapshot into the merchandising mix that should be presented at the site.

Seasonality & Geographic Nuances – Determining whether the site is seasonal or not should factor into your analysis. Operators shouldn’t necessarily shy away from seasonal type stores but rather not be surprised by them after they open. Closely related to seasonality would be a trade area driver – i.e., a mall or theme park – that may positively or negatively impact your store’s performance. Monitoring these outside forces will tighten up your model. In addition, look for the non-seasonal enhancements or barriers to your site. A river that bisects your trade area, for instance, will effectively cut your traffic to the store no matter how close in proximity the homes are. Even certain companies can impact your site. A large manufacturing facility that releases a number of employees at the same time can cause bottlenecks in the traffic flow that will cause potential customers to avoid the area at these peak times.

Visibility – This may be more anecdotal than the other attributes but should still be a consideration. Judging whether the site is easily viewed from afar as opposed to a site that is hidden by overgrown trees should be a factor. Driving the site from all four directions allows for the owner to gain the perspective of potential customers as they approach the location. Other considerations would include that speed of the traffic as it approaches the potential site. If the traffic flow is traveling at too great a speed or drivers are distracted due to complicated traffic patterns, the opportunity to notice your location is diminished.

Competitors – Obviously, understanding the competition within the trading area is critical. I would approach this competitive evaluation in a three-fold fashion: a) gasoline, b) convenience store, and c) quick-service restaurants. Look at the competitive landscape in degrees of competition – meaning, some competition has greater negative impact than other competition. Ranking your competition based on this impact for all three categories will paint a more holistic overview. Keep in mind, that some competitors may impact only the gasoline while others may have a greater impact on convenience product sales. With the c-store industry creeping further and further into food-service, mapping the quick service restaurants in the trade area will give you a better indication of the viability of your food-service operation.

Location – Location, location, location. There are many factors that come into play when picking the best location. Is it a premier corner? What day part side of the street is the site? Is there easy ingress and egress in and out of the location? Are there divided highways in front of the location that make access more difficult? Is this an inside lot location and not even a corner? What is the length of the property frontage? There is a myriad of considerations for the actual site location that need to be evaluated in the context of the other attributes.

Let’s face it; there are a number of variables that come into play. While one cannot be certain that accurately depicting all of these attributes into a real estate site evaluation model can guarantee success, it will at least put you in a better risk aversion position. That is the science of it.

I have been around the block long enough to know that some stores simply defy their science and just work. The art of site selection is far harder to quantify than the science. While those stores are the anomaly, evaluating new locations by putting their attributes through the litmus test above, helps minimize the downside risk of opening an under performing location.

Make More Sales By Being Contrary

Here’s something I’ve been playing with, and my results have been pretty good, too.

A few months ago a friend was launching a big product with lots of cash prizes for the top affiliates. I knew there would be tons of affiliate competition, with every affiliate trying to out-do the others with bigger and better bonuses.

How to compete?

I decided not to.

Instead, I thought about what every affiliate’s bonus pages would look like: Highly polished, slick, professional, lots of graphics, videos, etc.

Odds are they would all start to look very much alike, right?

So I thought… what if I did something different?

What if my page looked like something you might get in the mail – black and white sales letter, using the Courier typewriter font, very old-school looking…

And what if, instead of a highly polished professional photo of myself, I used one where I just woke up? Or one where I just finished exercising, or just finished the yard work?

In other words, I looked like the guy next door and not some slick marketer.

Taking this thinking to the next level, I decided I didn’t want to spend time or money on creating a bonus. Everyone else was doing that, so why should I?

Instead, I would hold a live class. The homework would be to go over the program before class. Then in class we would implement, step-by-step, what was in the program. And I would record the whole thing, so people could just follow along.

In case you’re wondering – it worked beautifully. My sales were a very decent 5 figure number, and my commissions were half that plus bonuses.

And one more thing – I cheated, too. I had my virtual assistant run the class for me. She got to learn some great new skills, and I put less than 2 hours into the entire project.

The takeaway: When you have a lot of competition, it’s time to stop directly competing and find another way.

If they are using tons of graphics and slick videos, you go with a 1980’s black and white typewriter look.

If they are offering bonus packages filled with 5, 10 or 20 products, you offer no products (I offered hold-your-hand training, which in my opinion is worth far more anyway.)

You get the idea.

Do you know what would work even better than that?

MAILING the actual letter. Yup. Talk about old school. If you collect real addresses of your BUYERS, you might consider doing this on big ticket items.

I know marketers who do this. They are few and far between, and they are KILLING it. They only mail to buyers, which greatly improves their conversions. They use a service to send out the mailers for them. And they make more on one of these mailings than most successful marketers earn in 6 months.

Which brings me to my second idea… if you don’t already have the mailing addresses for your buyers, start collecting those now.

When you have a sizable portion of them (at least 200, preferably 500) approach a marketer with a product your list would love. Make sure there is plenty of profit in that product. Take the sales letter, adapt it to a black and white mailer (cheap to produce) and send it to your buyers.

See what happens. Tweak, rinse and repeat.

You can easily DOUBLE your income using this method.

Know why? Again, because it’s contrary. It’s different. Almost no one is doing it.

Your customer gets maybe a half dozen pieces of mail in a day. Two are bills. Two are sales flyers from local businesses. One is a catalog.

And then there’s that mysterious white envelope. Yeah, it’s going to get opened. Yes, it’s going to get read.

The Cybercrimals

The mindset of an individual who would want to attack the computers and networks owned by others is, without question, criminal. The act of intruding upon another confidential personal or business information requires a pre-meditated and calculated act. Its purpose is to inflict financial or personal harm on others by stealing money, denying the use of their information or to gain illegal access to proprietary plans. The cybercriminal is totally cynical and strives to remain in the shadows.

People who attack the information assets of others are on the prowl for system weaknesses to exploit. The prime targets are unsuspecting individuals or businesses that are vulnerable to the attack modes chosen by cybercriminals. They are deceitful and seek the cloak of anonymity.

The true nature of someone who would access, use and exploit your private information is a mixed bag. His or her character is between that of a person who would enjoy searching through your personal items and an employee who would embezzle money from a corporation.

The focus of crackers and hackers is to use their specialized knowledge to encroach upon the private lives of people and organizations. Electronic thieves seek to take advantage of people who are without information needed to fight back and block them. Cyber criminals are true low-life.

Digital bandits are sociopaths who ply their trade without regard to the harmful effects they have on others and truly lack remorse. What’s particularly unsettling about felonious computer whizzes is that they are usually very intelligent. They are without a conscience and enjoy stealing and hurting others.

Computer crooks can be ranked on a scale from “less skilled” to “expert”. Anyone can download basic cracking software from the Internet. The real pros, however, study their targets over time in stealth mode. The highly skilled cracker plans and analyzes the victim to get the maximum effect.

Preying upon unsuspecting users is among the most disturbing behaviors of the PC and mainframe pirates. Most computer users are unaware of how many threats and vulnerabilities that they face when they power-up their computer or go online. Lawless computer users thrive on the ignorance of others.

So how do you fight those who would breach your personal data with the purpose of stealing or hurting you in a variety of different ways? Presume that the bad guys are trying to break into your system. Use your knowledge and security best practices to block them.

You should:

1. Develop a security mindset
2. Assess your risks
3. Use complex passwords and phrases for your system(s)
4. Identify and eliminate common vulnerabilities
5. Routinely update software patches and fixes
6. Probe and test electronic systems
7. Use appropriate security-related hardware and software (e.g. anti-virus software, firewalls)
8. Lock your computer screen when you leave your work area
9. Encrypt and back up all of your data
10. Practice good cyber hygiene (e.g. avoid clicking on email links and attachments)
11. Avoid maintaining a persistent Internet connection

You can defend against those who would try to harm you using digital technology and the Internet. Obstruct the pathways that are followed by lawless information thieves.

Plans for Your Business Venture

Whatever the health and condition of your business venture, it will benefit from planning. Business planning of all types provides a road-map that guides the leadership team to successfully achieve business goals.

I’ve taught business plan writing for more than 10 years and I’ve also developed a one-day business plan writing workshop. As I see it, the process of business planning gives company leaders opportunities to see the big picture and remove “magical thinking” from the process. Business planning first reveals if the proposed goals are potentially viable and second, requires that we devise strategies that will make them a reality.

What your team wants to achieve will shape the plan that is written. For example, if the mission is to launch a start-up that will require significant outside investment, then the plan will include detailed financial projections. Additionally, marketing strategies that delve into customer acquisition, the competitive landscape, the logistics of the product or service launch, messaging and sales distribution, along with operational aspects such as manufacturing, staffing and quality control, must be thoroughly detailed.

Solopreneur consultants will focus heavily on marketing, in particular defining the target clients and client acquisition; providing services for which there is adequate demand; and appropriate pricing. Financial planning will focus on allocating the budget to support promotional strategies and marketing campaigns.

Whether the plan will be used to launch a big venture and attract outside investment money or open a boutique-style consulting service, include the following elements:

EXECUTIVE SUMMARY

Present the business mission statement here. Include as well the date the business was formed; the leadership team and other key management personnel; the credentials or experience that make you and the leadership team uniquely qualified to launch and successfully run the venture; the business legal structure (LLC, Sole Proprietor, or Corporation); the products and services; one or two key competitive advantages; a concise overview of sales projections; and the amount of capital needed if recruiting investors or obtaining bank financing is a goal.

BUSINESS DESCRIPTION

It’s traditional to present a brief description of your industry and its outlook, nationally and regionally. Give the details of your products and services and briefly discuss how they’ll be used by target customers. Identify whether the venture is B2B, B2C, or B2G. If the organization holds a patent, review the competitive advantages that it will convey. Have there been any technological advances that will help or hinder the enterprise? Divulge the details here.

MARKETING

This element is a big tent that encompasses sales, product or service distribution, competitors, advertising, social media, PR, networking, branding, customer acquisition and pricing. Plans written for a small organization will spotlight the role of marketing because for Solopreneurs, success hinges on identifying and reaching paying clients, as well as pricing the services advantageously.

FINANCE

Whether you’re wealthy enough to self-finance or the venture is small and not especially demanding of capital investment, the leadership team nevertheless needs to know with a reasonable degree of certainty how much money will be required to achieve important goals.

The plan might be written to support financing for the acquisition of new office space, additional staffing, or manufacturing equipment. Bank loans typically require a business plan to demonstrate how the investment money would be used and how the organization will generate funds for loan repayment.

If the goal is to attract investors, they’ll need to be convinced by the projected sales revenue figures (as will the bank), so they’ll know when their investment will be repaid and when to expect profits if they are made co-owners of the business. A break-even analysis, projected income statement, projected cash-flow statement and projected balance sheet are required by those who will need significant money.

OPERATIONS

How will day-to-day business processes function? Tell it here, along with providing the organizational chart, the business location, the method of producing that which you sell (if you are, for example, a freelance book editor or graphic designer, you produce the service yourself), your usual sub-contractors (if you are a special events organizer, who are your preferred caterer, florist and limo service?) and quality control methods. This element is about logistics.

The Alternative Investment Fund Regulations

What is an Alternative Investment Fund (AIF)

AIF is an Alternative Investment Fund Regulations privately pooled investment vehicle which collects funds from investors, whether Indian or foreign, for investing it in accordance with a defined investment policy for the benefit of its investors. AIF may be in the form of a trust or a company or a limited liability partnership or a body corporate.

Why AIF

AIF Regulations endeavor to extend the perimeter of regulation to unregulated funds with a view to ensuring systemic stability, increasing market efficiency, encouraging the formation of new capital and consumer protection.

Who are not covered

Currently, the AIF Regulations do not apply to mutual funds, collective investment schemes, family trusts, ESOP and other employee welfare trusts, holding companies, special purpose vehicles, funds managed by securitisation or reconstruction companies and any such pool of funds which is directly regulated by any other regulator in India.

Categories of AIFs

An AIF needs to seek registration broadly under one of the 3 categories –

Category I AIF: The following are covered under Category I

1. Funds investing in start-up or early stage ventures or social ventures or SMEs or infrastructure

2. Other sectors or areas which the government or regulators consider as socially or economically desirable including the Venture Capital Funds

3. AIFs with positive spillover effects on the economy, for which certain incentives or concessions might be considered by SEBI or Government of India or other regulators in India

Category II AIF: The following are covered under Category II

1. AIFs for which no specific incentives or concessions are given by the government or any other Regulator

2. Which shall not undertake leverage other than to meet day-to-day operational requirements as permitted in these Regulations

3. Which shall include Private Equity Funds, Debt Funds, Fund of Funds and such other funds that are not classified as category I or III

Category III AIF: The following get covered under Category III

1. The AIFs including hedge funds which trade with a view to making short term returns;

2. Which employ diverse or complex trading strategies

3. Which may employ leverage including through investment in listed or unlisted derivatives

Applicability of AIF Regulations to Real Estate Funds

After knowing what an AIF is and its broad categories, we analyse whether AIF Regulations are applicable to the Real Estate Funds

Firstly AIF has to seek registration under AIF Regulations under one of the three categories stated above. Therefore if a Fund does not fall under any of the three categories stated above, then it will not seek the registration with SEBI.

If we look at the Category 1, registration is required by funds which invest in start-up or early stage ventures or social ventures or SMEs or infrastructure

If we look at the definition of infrastructure, Explanation to Regulation 2 (m) states that Infrastructure shall be as defined by the Government of India from time to time.

And in the normal parlance, the term typically refers to the technical structures that support a society, such as roads, water supply, sewers, electrical grids,

telecommunications, and so forth, and can be defined as “the physical components of interrelated systems providing commodities and services essential to enable, sustain, or enhance societal living conditions.

Therefore infrastructure does not include the real estate or construction activity since this activity deals in investing in land, developing the land by way of construction of flats, townships and other residential and commercial projects.

But if the real estate fund carries on certain projects for a social purpose like purchasing land for charity etc.; then the fund may be covered under social venture funds.

The clause further states that ‘or other sectors or areas which the government or regulators consider as socially or economically desirable and such other Alternative Investment Funds as may be specified;’

The AIF Regulations have been notified just a few days back and till date, no other AIF funds have been specified in the Category 1 by the Government. Further what the government or regulators consider as socially and economically viable is a very broad concept. However, till the Government specifically comes out with specific inclusions under Category 1; a Real Estate Fund will not be covered under Category 1 and therefore would not require Registration.

Further, the clause also states that – Alternative Investment Funds which are generally perceived to have positive spillover effects on economy and for which the Board or Government of India or other regulators in India might consider providing incentives or concessions will bee included

By adding these lines to the Category 1, SEBI has made the category 1 very vague and open to dispute and litigations since what SEBI intends with positive spillover effects on the economy is not defined or clarified. Different people or organizations may have a different opinion on this which would lead to unnecessary litigations and hardships to business owners. However, till any clarity comes on this, the business owners need to take a cautious approach to the decision of seeking Registration under AIF Regulations.

Category II AIF

Now we examine whether a Real Estate Fund falls under the Category II AIF

If we look at the funds covered by Category II above, they

1. Shall not fall in Category I and III

2. Shall not undertake leverage or borrowing other than to meet day-to- day operational requirements and as permitted by these regulations;

3. Shall be funded such as private equity funds or debt funds for which no specific incentives or concessions are given by the government or any other Regulator

For Real Estate Fund under Category I, we notice that at present it does not fall under Category I and it also does not fall under Category III since these are basically hedge funds. Further, no specific incentives or concessions are given by the Government to the Real Estate Sector. Therefore if we look at the applicability of Real Estate Fund under Category II, these funds may fall under the Category II AIFs if they do not take leverage or borrowing except for short-term requirements.

Impact of AIF on the Real Estate Funds

Under these Regulations, the minimum investment amount has to be Rs 1 crore from each investor. Therefore attracting the funds from the investors would become tough for the real estate funds, who used to raise amounts as less as INR 1 million from the investors. Now they would need to find high-value investors though this is not the only challenge that lies ahead for those raising domestic corpuses. They now also have to invest 2.5% of the corpus or Rs 5 crore, whichever is lower, to ensure that the managing company’s risk is aligned with that of the investor. Moreover, a single investment in a company or a project cannot exceed 25% of the entire corpus.

Further a Real Estate Fund registered in the form of an LLP also would be covered under the AIF Regulations. In an LLP Structure, since the investors are also partners, the risk to the rights of the investors being misused is very minimum. Therefore applying the AIF Regulations to the LLP Structure would reduce the flexibility available to such a Structure.

Conclusion

If we look at the AIF Regulations from a short term perspective, in light of the difficult fund raising environment today, the higher ticket size for investors could potentially throw up some challenges and could in a manner constrict the growth of the asset class, but clearly, in the long run, these regulations appear to have an element of maturity to play a pivotal role in the development and shaping up of the future of alternate asset class in India. It is also clear that alternative investments are more sophisticated and risky as compared to investments in equity and debt and till market matures it is advisable that only HNIs and well informed investors make an investment in this asset class and once the market matures it is made open to all. In the long run, we may see more investments in the Alternative asset class (in terms of quantum and maturity) due to the increased investor confidence in these funds.

The Secret of Successful Negotiation

Your best work is done before you get to the negotiation table.

The area of negotiation that most affects the outcome is the part you have most control over – the preparation. Research has shown that the best prepared negotiator is the one most likely to get the best outcome.

Preparation that gives you a head start on your opponent can be achieved by anyone willing to spend the time. Here’s nine factors you should prepare.

1. Know the ‘pie’ – fixed or variable

‘Fixed pie’ negotiations are those where the only way I can get a better outcome is to get you to accept a lesser outcome. These never result in a win-win outcome. ‘Growing the pie’ negotiations include variables that creative negotiators use to create high perceived value for the other side at little cost to them. Thinking creatively can even allow you to turn a fixed pie into a variable one. Perhaps the asset (a motor vehicle) is fixed, but you could add variables like payment terms, advanced servicing. The salary might be fixed, but flexibility of hours could add significant value for some candidates.

2. Know the impact

Will the outcome of this negotiation impact on any other current or possible future negotiations with the other party? You don’t want to compromise any negotiations going on now or set precedents that might disadvantage you at some time in the future.

3. Know which side is under the most time pressure

The side under the most time pressure has the greatest incentive to be flexible and may be prepared to give more as the deadline gets closer. If the other side is under the most pressure, your advantage grows daily. If the time pressure is on you, be aware this is a weakness and that if the other side becomes aware of it they will use it.

4. Know the relationship

Is this a one-off negotiation or are there likely to be future dealings? Is the relationship important to you? If the answer is yes, is it important enough for you to be more generous with your offer(s)? If the answer is no, will this change your approach and tactics?

5. Know the other side

Is their negotiation style primarily competitive or cooperative? How likely are they to try to bluff? If you haven’t negotiated with them before, is there someone else you know who has that you can talk to? Is there anything you can find out about them that they might not expect you to know? Anything you can do to compromise their confidence in their preparation is a useful tactical tool.

6. Know what they know

Research yourself. Find out what they know about you. Don’t let them spring any surprises on you.

7. Know some accepted authorities

Facts and figures are so often misrepresented in negotiations, nobody takes the other side’s word. Try to find some authorities that you will both accept as reference points.

8. Know your ‘negotiable’

Build a list of all the negotiating issues you are prepared to bring to the table. Priorities them. Try to build a similar prioritized list for the other side. Issues which appear lower on your list but higher on theirs are the ones that you will get most value for when bargaining. Determine what will be your starting point and your bottom limit. Be as precise as you can.

If you cannot priorities a list for the other side in your preparation, try to determine their priorities in your preamble discussion with them before you start putting offers on the table. If appropriate, try to have a pre-negotiation discussion with them where no one would be making any commitments; you would just be getting to understand each other better to help you create the highest-value offers.

9. Know your alternatives

The side who is most able to walk away from a negotiation will negotiate strongest. You can only do this if you have an equivalent alternative to negotiate with. If you don’t, and this party is your best or only option, then do you have a Plan B to offer them if all else fails?

All the latest studies have shown that preparation and planning are the keys to success in negotiation. Sides that prepare and know precisely their goals in a negation always do better than those who go in ‘hoping for the best’. Those who set specific timelines do better than those who are more flexible. Many things happen in a negotiation that you don’t have control over; but your preparation is not one of them. Everyone is busy; but using that as an excuse is a mistake. Walk in best prepared – and walk out most satisfied.

Package Forwarding Service

As far as international shipping is concerned, you have many options. But one of the best options is hiring a good package forwarding service. Let’s take an example Suppose you reside in Australia or UK, and you want to buy an item from eBay or Amazon. In this case, you have to use a package forwarding service. This service will help you save a lot of money, as you won’t need to pay high shipping charges. it’s not difficult to use such service. Read on to know more.

Registration

First of all, you need to choose a package forwarding site. Once you have a good and reliable provider, your next step is to sign up to get an account. By signing up, you will receive a forwarding address. You will use this address to meet your shipping and shopping needs from time to time.

Make sure you check everything carefully before signing up. The shipping cost shouldn’t be too high. Aside from this, you need to find out about other services offered by the provider, such as package consolidation, repackaging and fees, just to name a few. it’s very important that you take all these things into consideration or you will regret your decision later on.

Address details

As far as entering your address is concerned, you can use the same address you saved at the time of signing up for the first time. Once you have chosen the address, you can go ahead and place your order. This way you won’t have to type your address each time you place a new order. Next, you should wait for the delivery of the package from the seller to your address.

Package handling

Now, you need to make arrangements for your parcel handling like repacking. Another option that you can consider is package consolidation. When you place orders with many retailers, you can try out this option. You can save a lot of money with package consolidation. However, you need to keep in mind that choosing this option may add to the custom duty for some countries. In this case, what you need to do is get the package sent separately instead of paying high custom duty.

Shipping fee

Keep in mind that you will have to pay the international shipping fee if you want to get the package at your doorstep. Once you have paid the shipping, the package will be yours.

Important things to consider

You may want to prefer a forwarder that charges no membership fee
Remember: lower shipping fee can’t be translated to reduced total amount
For package delivery in tax-free states, you can save more.
Consider the membership fees
Make sure there are no hidden fees, such as storage fees
Don’t place your order for prohibited items as they won’t be forwarded

Long story short, if you are going to choose a package forwarding service in the near future, we suggest that you consider the advice given in this article. This will save you a lot of headache down the road.