tag:blogger.com,1999:blog-1430892898589850992024-03-13T07:48:42.703-05:00The WieseLaw Contract Studio BlogThe Value of Your Business Is The Net Total of its deals.WieseLawhttp://www.blogger.com/profile/08779056353979216220noreply@blogger.comBlogger100125tag:blogger.com,1999:blog-143089289858985099.post-64835609836918211992014-02-28T09:06:00.001-06:002014-02-28T09:06:10.096-06:00Ten Things We Learned from Path to the Entreprenati by Pace Klein
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<div class="MsoNormal">
<i style="mso-bidi-font-style: normal;">Path to the
Entreprenati </i>is a fictional story of a mentor and mentee duo that eloquently
ties in a business angle. It takes you to the streets of Lyon and Paris and
brings you way back to the time of the Knights Templar. It’s a quick read
that’s packed with good advice for anyone who wants to be more than just an
entrepreneur.</div>
<div class="MsoNormal">
<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Here are the top 10 things we learned from the book:<o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
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<!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="mso-bidi-font-family: Cambria; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">1.<span style="font: 7.0pt "Times New Roman";">
</span></span></span></i></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">The Entreprenati believe in their ability to
forge their own path to bring themselves to success.<o:p></o:p></i></b></div>
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<br /></div>
<div class="MsoNormal" style="margin-left: .5in;">
You know the famous Henry Ford
quote “whether you think you can, or you think you can’t – you’re right.”
Entreprenati subscribe to the same belief in business and in life. <o:p></o:p></div>
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<br /></div>
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<!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="mso-bidi-font-family: Cambria; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">2.<span style="font: 7.0pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">The promise of a journey of a thousand miles
ends with a single nonstep.</i><o:p></o:p></b></div>
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<br /></div>
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Not making a decision is a decision
in and of itself, and the longer you go without taking your first step, the
longer you put off reaching your personal success.<o:p></o:p></div>
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<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="mso-bidi-font-family: Cambria; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">3.<span style="font: 7.0pt "Times New Roman";">
</span></span></span></i></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">Figure out what you suck at early, then be
proud of sucking at it.<o:p></o:p></i></b></div>
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<br /></div>
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In other words, know your strengths
and weaknesses. Do what is worth your time doing and delegate the rest.<o:p></o:p></div>
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<br /></div>
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</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">If you think it’s great not to make any
mistakes, you’re seriously mistaken.</i><o:p></o:p></b></div>
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<br /></div>
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Mistakes aren’t good and they’re
not bad. If you make too many, that’s dangerous. But if you don’t make enough,
you’re not taking enough chances.<o:p></o:p></div>
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<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="mso-bidi-font-family: Cambria; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">5.<span style="font: 7.0pt "Times New Roman";">
</span></span></span></i></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">Don’t let your employees be your own
appendages.<o:p></o:p></i></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in;">
If you micro-manage or train your
employees to be just like you, your company will be stunted. There’s no growth
or imagination when you have a bunch of mini replicas operating the business. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
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</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">If you want to be on top, head straight to
the bottom first.</i><o:p></o:p></b></div>
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<br /></div>
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If you surround yourself with
successful entrepreneurial people, you’ll slowly start to become like them.
Keep rubbing shoulders with people “above” you and you’ll start to make your
way to the top. Just be careful to never be at the very top, lest you find
yourself at an educational standstill. <o:p></o:p></div>
<div class="MsoNormal" style="margin-left: .5in;">
<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="mso-bidi-font-family: Cambria; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">7.<span style="font: 7.0pt "Times New Roman";">
</span></span></span></i></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">True innovation requires the willingness to
experiment in ways that fail more than they succeed.<o:p></o:p></i></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in;">
If you’re not willing to fail then you’re
not willing to succeed. It’s as simple as that.<o:p></o:p></div>
<div class="MsoNormal" style="margin-left: .5in;">
<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><span style="mso-bidi-font-family: Cambria; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">8.<span style="font: 7.0pt "Times New Roman";">
</span></span></span></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">You must remain a child of the universe, for
there aren’t any Entreprenati among the grownups.</i><o:p></o:p></b></div>
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<br /></div>
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The secret to life entrepreneurs is
to be lifelong learners. It’s important to stay curious and keep questioning.<o:p></o:p></div>
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<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
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</span></span></span></i></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;">Every advancement starts with a simple “what
if?”<o:p></o:p></i></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in;">
Innovation happens when you’re at a
standstill for whatever reason and you ask yourself or your team, “what if we
did this?” and “what if we did that?” That’s where the magic happens. <o:p></o:p></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoListParagraph" style="mso-list: l0 level1 lfo1; text-indent: -.25in;">
<!--[if !supportLists]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="mso-bidi-font-family: Cambria; mso-bidi-theme-font: minor-latin; mso-fareast-font-family: Cambria; mso-fareast-theme-font: minor-latin;"><span style="mso-list: Ignore;">10.<span style="font: 7.0pt "Times New Roman";"> </span></span></span></i></b><!--[endif]--><b style="mso-bidi-font-weight: normal;"><i style="mso-bidi-font-style: normal;"><span style="mso-spacerun: yes;"> </span>Business books don’t have to read like
business books.<o:p></o:p></i></b></div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in;">
It’s possible to read a book that
acts like fiction but gives you the tools to become a superb entrepreneur. <a href="http://www.amazon.com/Path-Entreprenati-Pace-Klein/dp/0985101008" target="_blank">See for yourself</a>.<o:p></o:p></div>
<div class="MsoNormal" style="margin-left: .5in;">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in;">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in;">
<i style="mso-bidi-font-style: normal;">What’s
your favorite business book? We’re always open to checking out new books.<o:p></o:p></i></div>
<!--EndFragment-->Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-78131694316685124642013-10-03T18:50:00.000-05:002013-10-03T18:52:35.275-05:00Getting Past a Deal Impasse<!--[if gte mso 9]><xml>
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<br />
<div class="MsoNormal" style="text-align: justify;">
<span class="Apple-style-span" style="font-family: 'Gill Sans MT';">Currently
the situation in Washington or with the Minnesota Orchestra is lose-lose.<span style="mso-spacerun: yes;"> </span>Since neither party has been investing in a
relationship with the other prior to this debacle, how do we now move
forward?<span style="mso-spacerun: yes;"> </span><b style="mso-bidi-font-weight: normal;">If I were an advisor to the principals involved I would suggest the
following:</b></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Gill Sans MT";">1.<span style="mso-spacerun: yes;"> </span>Have a <u>family</u> dinner party with the both
sides.<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Gill Sans MT";">2.<span style="mso-spacerun: yes;"> </span>At the party, share the following elements
that help close deals, which I have learned from doing deals over the past 25 years:<span style="mso-spacerun: yes;"> </span><o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<table border="1" cellpadding="0" cellspacing="0" class="MsoTableGrid" style="border-collapse: collapse; border: none; margin-left: 60.0pt; mso-border-alt: solid windowtext .5pt; mso-padding-alt: 0in 5.4pt 0in 5.4pt; mso-yfti-tbllook: 1184;">
<tbody>
<tr style="mso-yfti-firstrow: yes; mso-yfti-irow: 0;">
<td colspan="3" style="border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 359.1pt;" valign="top" width="359"><div align="center" class="MsoNormal" style="text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">Various elements that close deals<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 1;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 119.7pt;" valign="top" width="120"><div align="center" class="MsoNormal" style="line-height: 115%; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">90% - Attitude</span></b><b style="mso-bidi-font-weight: normal;"><span style="font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;"><o:p></o:p></span></b></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 119.7pt;" valign="top" width="120"><div class="MsoNormal" style="line-height: 115%; text-align: justify;">
<br /></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 119.7pt;" valign="top" width="120"><div class="MsoNormal" style="line-height: 115%; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">55% - People<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="height: 16.15pt; mso-yfti-irow: 2;">
<td style="border-top: none; border: solid windowtext 1.0pt; height: 16.15pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 119.7pt;" valign="top" width="120"><div align="center" class="MsoNormal" style="line-height: 115%; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">10% - Tactics<o:p></o:p></span></b></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 16.15pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 119.7pt;" valign="top" width="120"><div class="MsoNormal" style="line-height: 115%; text-align: justify;">
<br /></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; height: 16.15pt; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 119.7pt;" valign="top" width="120"><div class="MsoNormal" style="line-height: 115%; text-align: justify;">
<b style="mso-bidi-font-weight: normal;"><span style="color: #c00000; font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">37% - Process<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 3;">
<td style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 119.7pt;" valign="top" width="120"><div class="MsoNormal" style="line-height: 115%; text-align: justify;">
<br /></div>
</td>
<td style="border-bottom: solid windowtext 1.0pt; border-left: none; border-right: solid windowtext 1.0pt; border-top: none; mso-border-alt: solid windowtext .5pt; mso-border-left-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 119.7pt;" valign="top" width="120"><div class="MsoNormal" style="line-height: 115%; text-align: justify;">
<br /></div>
</td>
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<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">8% - Substance<o:p></o:p></span></b></div>
</td>
</tr>
<tr style="mso-yfti-irow: 4; mso-yfti-lastrow: yes;">
<td colspan="3" style="border-top: none; border: solid windowtext 1.0pt; mso-border-alt: solid windowtext .5pt; mso-border-top-alt: solid windowtext .5pt; padding: 0in 5.4pt 0in 5.4pt; width: 359.1pt;" valign="top" width="359"><div class="MsoNormal" style="line-height: 115%; text-align: justify;">
<br /></div>
<div align="center" class="MsoNormal" style="line-height: 115%; text-align: center;">
<b style="mso-bidi-font-weight: normal;"><span style="font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">= Successful outcomes<o:p></o:p></span></b></div>
</td>
</tr>
</tbody></table>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in; text-align: justify;">
<span style="font-family: "Gill Sans MT";">These elements are also confirmed in Stuart
Diamond’s great book called <i style="mso-bidi-font-style: normal;"><u><a href="http://www.gettingmore.com/" target="_blank">Getting More.</a></u></i><o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in; text-align: justify;">
<span style="font-family: "Gill Sans MT";">When doing deals, most parties focus on <i style="mso-bidi-font-style: normal;">tactics </i>and the <i style="mso-bidi-font-style: normal;">substance</i>.<span style="mso-spacerun: yes;"> </span>These are the two
least effective elements to focus on when closing a deal.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>This
is further complicated when the parties are working through the press.<span style="mso-spacerun: yes;"> </span>Once the press is involved the tactics and
substance elements reported are not even accurate and they start to inflame
each side’s ego. <span style="mso-spacerun: yes;"> </span>This in turn causes an
almost complete shut down of possibilities.<span style="mso-spacerun: yes;">
</span><o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Gill Sans MT";">3.<span style="mso-spacerun: yes;"> </span>After sharing these elements with the parties,
I would have them work together on a quick and simple common challenge (a
vanilla<span style="mso-spacerun: yes;"> </span>issue we all agree upon) that
has nothing to do with the current issue.<span style="mso-spacerun: yes;">
</span>This will cause the parties to feel a collective mind shift toward possibility; <o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="text-align: justify;">
<span style="font-family: "Gill Sans MT";">4.<span style="mso-spacerun: yes;"> </span><span style="mso-spacerun: yes;"> </span>Once
that exercise is completed I would suggest the following approach: <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: .5in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in; text-align: justify;">
<span style="font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">i.<span style="mso-spacerun: yes;"> </span>Focus on <b style="mso-bidi-font-weight: normal;"><span style="color: #c00000;">Attitude & Process</span>.<span style="mso-spacerun: yes;"> </span>These are the elements that can close this
deal.<span style="color: #c00000;"><o:p></o:p></span></b></span></div>
<div class="MsoNormal" style="margin-left: .5in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in; text-align: justify;">
<span style="font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">ii.<span style="mso-spacerun: yes;"> </span>Use members of the party that <u>do</u> have
relationships <b style="mso-bidi-font-weight: normal;"><span style="color: #c00000;">(i.e.,
People)</span></b><span style="color: #c00000;"> </span>to help close this deal! <o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: .5in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: .5in; text-align: justify;">
<span style="font-family: "Gill Sans MT";">iii.<span style="mso-spacerun: yes;">
</span>Have the following boundaries:<o:p></o:p></span></div>
<div class="MsoNormal" style="text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 1.0in; text-align: justify;">
<span style="font-family: "Gill Sans MT";">Both parties quit talking to the press;<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 1.0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 1.0in; text-align: justify;">
<span style="font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">Leave the past in
the past and be present;<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 1.0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 1.0in; text-align: justify;">
<span style="font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">Be hard on the
problem, not the people;<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 1.0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 1.0in; text-align: justify;">
<span style="font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">When talking with
each other<u> try</u> to use facts vs. opinion;<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 1.0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 1.0in; text-align: justify;">
<span style="font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">Have regularly
scheduled meetings every day until the issue is resolved;<o:p></o:p></span></div>
<div class="MsoNormal" style="margin-left: 1.0in; text-align: justify;">
<br /></div>
<div class="MsoNormal" style="margin-left: 1.0in; text-align: justify;">
<span style="font-family: "Gill Sans MT"; mso-bidi-font-family: Arial;">Focus on
strategies (vs. positions and ideology) to overcome obstacles. <o:p></o:p></span></div>
<!--EndFragment-->Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com1tag:blogger.com,1999:blog-143089289858985099.post-55481118999845838572012-09-20T15:31:00.000-05:002012-09-20T15:31:16.686-05:00If Politicians Were Farmers<!--[if gte mso 9]><xml>
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<br />
<div class="MsoNormal">
<b><br /></b></div>
<div class="MsoNormal">
I was having breakfast with my 85-year-old mother the other day
and she said the greatest thing. She paid close attention to both political
conventions this year and told me that if these guys were farmers, they’d have
no crops to sell.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
What she means is that our two presidential candidates (let’s
be honest, we really only have two options) are all talk and no do. If they
were farmers they wouldn’t get any crops in the ground and we’d all starve to
death. And yet they’re going to lead our country. Do we need to do some
redesigning here folks?</div>
<div class="MsoNormal">
<div class="separator" style="clear: both; text-align: center;">
<a href="http://2.bp.blogspot.com/-OF1a6NdUf-w/UFt8q_JokJI/AAAAAAAAAHY/7_EENNfYu5s/s1600/elephant-donkey-politics.jpeg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="287" src="http://2.bp.blogspot.com/-OF1a6NdUf-w/UFt8q_JokJI/AAAAAAAAAHY/7_EENNfYu5s/s400/elephant-donkey-politics.jpeg" width="400" /></a></div>
<div style="text-align: center;">
<br /></div>
<div style="text-align: center;">
<br /></div>
<div style="text-align: center;">
<span id="goog_527431873"></span><span id="goog_527431874"></span>[Image from <a href="http://bit.ly/QpBVMn" target="_blank">here</a>]</div>
</div>
<!--EndFragment-->Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-68404949048790807702012-09-04T08:16:00.000-05:002012-09-04T08:16:19.619-05:00Failure: It’s an asset, not a setback
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<tr><td style="text-align: center;"><a href="http://3.bp.blogspot.com/-CQG29_ZlEU4/UEX-dquJiwI/AAAAAAAAAHE/MR9TY2GKa20/s1600/Obstacles2.jpeg" imageanchor="1" style="clear: right; margin-bottom: 1em; margin-left: auto; margin-right: auto;"><img border="0" height="183" src="http://3.bp.blogspot.com/-CQG29_ZlEU4/UEX-dquJiwI/AAAAAAAAAHE/MR9TY2GKa20/s200/Obstacles2.jpeg" width="200" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">Image from http://bit.ly/UpcFbW</td></tr>
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<div class="MsoNormal">
The difference between all of us and the late Steve Jobs is that
he looked at failure as an asset; most everyone else views it as a setback.<span style="mso-spacerun: yes;"> </span>Even worse, some of us let failures
define us (i.e., “I am a failure”).</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
When you consider failure a form of education, your greatest
ideas will come to fruition. Jobs went through failure after failure before we
all came to depend on his iPhone or iPod. It was with each failure that he
analyzed what went wrong, and only then was he able to find out what consumers
really needed and desired.</div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
When you look at failure as an asset, it won’t dampen your
desire to succeed. Instead, you will grow from it. The truth is simple: If you
want success, you must value your failures.<span style="mso-spacerun: yes;"> </span>In fact the greatest failure of all is not to lear<a href="http://www.blogger.com/blogger.g?blogID=143089289858985099" name="_GoBack"></a>n
from your failures. </div>
Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-75587749963579349882012-06-07T08:27:00.001-05:002012-06-07T08:27:56.234-05:00Are You A Linchpin?<div class="separator" style="clear: both; text-align: center;">
<a href="http://4.bp.blogspot.com/-SKRncm_KkG8/T9Cr4PSRVjI/AAAAAAAAAG0/hhzHJsoAYY0/s1600/linchpin.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="251" src="http://4.bp.blogspot.com/-SKRncm_KkG8/T9Cr4PSRVjI/AAAAAAAAAG0/hhzHJsoAYY0/s320/linchpin.jpg" width="320" /></a></div>
<br />
<div class="MsoNormal">
I highly suggest you read the book <i style="mso-bidi-font-style: normal;"><a href="http://www.amazon.com/exec/obidos/ASIN/1591843162/permissionmarket" target="_blank">Linchpin: Are You Indispensable?</a> </i>by Seth Godin. </div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
And let me tell you something: you want to be a
Linchpin. In a nut shell, if you
are great at what you do … you will become an artist. Artists are unique and cannot easily be replaced,
copied or outsourced. </div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
In the book, Godin says it’s time we stop mindlessly complying
with the system – or being a cog – and start creating our own maps (ways of
doing things and uniquely solving problems). We all have art to create, and the
longer we spend our time solely following other peoples’ rules, the bigger of a
hole we’re digging for ourselves. If your entire job can be penned out in a manual, you
are replaceable. If you ever catch yourself saying, “not my job,” you are not a
linchpin. If you do
everything your boss tells you, no less and no more, you’ll be one of the first
to go when the company downsizes. </div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
If you make some decisions without asking for permission,
use your creativity while producing, and ship assignments only <i style="mso-bidi-font-style: normal;">you</i> are capable of doing, then you are
indispensable. You must become
indispensable to thrive in the new economy. </div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
This book is required reading for anyone that wants to
succeed in todays ever-changing workforce. It’s thoughtful, it holds your hand through the steps of
becoming indispensable, and it’s reassuring. Seth says, “You have brilliance in you, your contribution is
valuable, and the art you create is precious.” </div>
<div class="MsoNormal">
<br /></div>
<div class="MsoNormal">
Now it’s time to start creating the Linchpin within you. <br />
<br />
[Photo from <a href="http://sethgodin.com/">sethgodin.com</a>]</div>
<div class="MsoNormal">
<br /></div>Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-24491948026026767522012-02-16T12:45:00.003-06:002012-02-16T12:50:47.480-06:00Lessons We’ve Learned From Years of Managing Contracts<a href="http://3.bp.blogspot.com/-nWaSCXOVzXo/Tz1PiRZi4SI/AAAAAAAAAGk/QzSgqRSA-_A/s1600/Contract.jpeg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 300px; height: 199px;" src="http://3.bp.blogspot.com/-nWaSCXOVzXo/Tz1PiRZi4SI/AAAAAAAAAGk/QzSgqRSA-_A/s320/Contract.jpeg" border="0" alt="" id="BLOGGER_PHOTO_ID_5709807352780349730" /></a> <!--[if gte mso 9]><xml> <o:officedocumentsettings> <o:allowpng/> </o:OfficeDocumentSettings> </xml><![endif]--><!--[if gte mso 9]><xml> <w:worddocument> <w:zoom>0</w:Zoom> <w:trackmoves>false</w:TrackMoves> <w:trackformatting/> <w:punctuationkerning/> <w:drawinggridhorizontalspacing>18 pt</w:DrawingGridHorizontalSpacing> <w:drawinggridverticalspacing>18 pt</w:DrawingGridVerticalSpacing> <w:displayhorizontaldrawinggridevery>0</w:DisplayHorizontalDrawingGridEvery> <w:displayverticaldrawinggridevery>0</w:DisplayVerticalDrawingGridEvery> <w:validateagainstschemas/> <w:saveifxmlinvalid>false</w:SaveIfXMLInvalid> <w:ignoremixedcontent>false</w:IgnoreMixedContent> <w:alwaysshowplaceholdertext>false</w:AlwaysShowPlaceholderText> <w:compatibility> <w:breakwrappedtables/> <w:dontgrowautofit/> <w:dontautofitconstrainedtables/> <w:dontvertalignintxbx/> </w:Compatibility> </w:WordDocument> </xml><![endif]--><!--[if gte mso 9]><xml> <w:latentstyles deflockedstate="false" latentstylecount="276"> </w:LatentStyles> </xml><![endif]--> <!--[if gte mso 10]> <style> /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:12.0pt; font-family:"Times New Roman"; mso-ascii-font-family:Cambria; mso-ascii-theme-font:minor-latin; mso-hansi-font-family:Cambria; mso-hansi-theme-font:minor-latin;} </style> <![endif]--> <!--StartFragment--> <p class="MsoNormal" style="margin-left: 0.25in; text-indent: -0.25in; "><b style="font-family: Georgia, serif; text-indent: -0.25in; font-size: 100%; "><span style="font-family:Arial">1. You must actively manage your deals and relationships. </span></b><span style="text-indent: -0.25in; font-size: 100%; font-family: Arial; ">Keep in touch with </span><span style="font-family: Arial; text-indent: -0.25in; font-size: 100%; ">your contacts; make sure contracts are up-to-date. You </span><i style="font-family: Arial; text-indent: -0.25in; font-size: 100%; ">never</i><span style="font-family: Arial; text-indent: -0.25in; font-size: 100%; "> want a client to </span><span style="font-family: Arial; text-indent: -0.25in; font-size: 100%; ">bring it to your attention that a contract has expired.</span></p> <p class="MsoNormal" style="font-family: Georgia, serif; font-weight: normal; margin-left: 0.25in; text-indent: -0.25in; "><b><span style="font-family:Arial"><o:p> </o:p></span></b><b style="text-indent: -0.25in; font-size: 100%; "><span style="font-family:Arial">2. Share the lessons you learned with each deal. </span></b><span style="text-indent: -0.25in; font-size: 100%; font-family: Arial; "> Remember why deals went </span><span style="font-family: Arial; text-indent: -0.25in; font-size: 100%; ">sour or why they succeeded, then share the love with others … perhaps they’ve </span><span style="font-family: Arial; text-indent: -0.25in; font-size: 100%; ">learned lessons that you’ve yet to stumble upon.</span></p> <p class="MsoNormal" style="font-family: Georgia, serif; font-weight: normal; margin-left: 0.25in; text-indent: -0.25in; "><b style="text-indent: -0.25in; font-size: 100%; "><span style="font-family:Arial"> 3. Use a process. </span></b><span style="text-indent: -0.25in; font-size: 100%; font-family: Arial; ">This way you’ll never miss anything you need to cover. Whether </span><span style="font-family: Arial; text-indent: -0.25in; font-size: 100%; ">you want it laid out in a mind map or a thorough checklist, a process is the </span><span style="font-family: Arial; text-indent: -0.25in; font-size: 100%; ">framework of a successful negotiation.</span></p> <p class="MsoNormal" style="font-family: Georgia, serif; margin-left: 0.25in; text-indent: -0.25in; "><span style="text-indent: -0.25in; font-size: 100%; "><span style="font-family: Arial; "> </span><span style="font-weight: bold; font-family: Arial; color: rgb(34, 34, 34); ">4. Know the essence of what you want when you do your deals.</span></span><span style="font-weight: normal; text-indent: -0.25in; font-size: 100%; font-family: Arial; color: rgb(34, 34, 34); "> Understand </span><span style="color: rgb(34, 34, 34); font-family: Arial; text-indent: -0.25in; font-size: 100%; ">the essence of your goals. For example, we might have a goal of not wanting to </span><span style="color: rgb(34, 34, 34); font-family: Arial; text-indent: -0.25in; font-size: 100%; ">have exclusivity in the agreement. The essence of this goal is </span><i style="color: rgb(34, 34, 34); font-family: Arial; text-indent: -0.25in; font-size: 100%; ">flexibility</i><span style="color: rgb(34, 34, 34); font-family: Arial; text-indent: -0.25in; font-size: 100%; ">. </span><span style="color: rgb(34, 34, 34); font-family: Arial; text-indent: -0.25in; font-size: 100%; ">Understanding this creates bigger boundaries for creativity for both parties. </span><span style="color: rgb(34, 34, 34); font-family: Arial; text-indent: -0.25in; font-size: 100%; ">Understanding that you might be okay with a very narrow and limited exclusivity (if </span><span style="color: rgb(34, 34, 34); font-family: Arial; text-indent: -0.25in; font-size: 100%; ">it gives the other side more incentive to market your service) still gives you </span><span style="color: rgb(34, 34, 34); font-family: Arial; text-indent: -0.25in; font-size: 100%; ">flexibility. </span></p> <p class="MsoNormal" style="font-family: Georgia, serif; font-weight: normal; margin-left: 0.25in; text-indent: -0.25in; "><b><span style="font-family:Arial"> </span></b><b style="text-indent: -0.25in; font-size: 100%; "><span style="font-family:Arial">5. The value of your business is the sum total of its deals.</span></b><span style="text-indent: -0.25in; font-size: 100%; font-family: Arial; "> Make good deals, </span><span style="font-family: Arial; text-indent: -0.25in; font-size: 100%; ">have a good business. Enough said.</span></p><p class="MsoNormal" style="font-family: Georgia, serif; font-weight: normal; margin-left: 0.25in; text-indent: -0.25in; "><span style="font-family: Arial; text-indent: -0.25in; font-size: 100%; "><br /></span></p> <p class="MsoNormal" style="font-weight: normal; font-family: Georgia, serif; "><span style="font-family:Arial"><o:p> </o:p></span><span style="font-family: Arial; font-size: 100%; ">What have you learned from your time managing contracts? Are there any learned lessons we should add onto our list?</span></p><p class="MsoNormal" style="font-weight: normal; font-family: Georgia, serif; "><span style="font-family: Arial; font-size: 100%; ">[Photo from <a href="http://mbeckerlaw.com/practice-areas/civil-litigation-nutshell/contracts-law/">this</a> website]</span></p> <!--EndFragment-->Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com1tag:blogger.com,1999:blog-143089289858985099.post-38886646589795268162012-02-10T14:20:00.002-06:002012-02-10T14:24:23.567-06:00Ten Things We’ve Learned from Hugh MacLeod<a href="http://1.bp.blogspot.com/-tWiytOug20E/TzV8zSWYQLI/AAAAAAAAAFI/St3qgKNsFFc/s1600/HUGH.png"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 318px; height: 320px;" src="http://1.bp.blogspot.com/-tWiytOug20E/TzV8zSWYQLI/AAAAAAAAAFI/St3qgKNsFFc/s320/HUGH.png" border="0" alt="" id="BLOGGER_PHOTO_ID_5707605323302846642" /></a><p class="MsoNormal">Hugh has taught us a lot, and we want to spread the love:</p> <p class="MsoListParagraphCxSpFirst" style="font-weight: normal; text-indent: -0.25in; "><!--[if !supportLists]-->1.<span style="font-family: 'Times New Roman'; font-size: 7pt; "> </span><!--[endif]-->Drawings don’t have to make sense</p> <p class="MsoListParagraphCxSpMiddle" style="font-weight: normal; text-indent: -0.25in; "><!--[if !supportLists]-->2.<span style="font-family: 'Times New Roman'; font-size: 7pt; "> </span><!--[endif]-->Having a dream is the first step to success</p> <p class="MsoListParagraphCxSpMiddle" style="font-weight: normal; text-indent: -0.25in; "><!--[if !supportLists]-->3.<span style="font-family: 'Times New Roman'; font-size: 7pt; "> </span><!--[endif]-->World domination requires an evil plan. If you don’t have one, don’t plan on dominating</p> <p class="MsoListParagraphCxSpMiddle" style="font-weight: normal; text-indent: -0.25in; "><!--[if !supportLists]-->4.<span style="font-family: 'Times New Roman'; font-size: 7pt; "> </span><!--[endif]-->Nonsense is cooler than sense</p> <p class="MsoListParagraphCxSpMiddle" style="font-weight: normal; text-indent: -0.25in; "><!--[if !supportLists]-->5.<span style="font-family: 'Times New Roman'; font-size: 7pt; "> </span><!--[endif]-->Mediocrity is for the birds</p> <p class="MsoListParagraphCxSpMiddle" style="font-weight: normal; text-indent: -0.25in; "><!--[if !supportLists]-->6.<span style="font-family: 'Times New Roman'; font-size: 7pt; "> </span><!--[endif]-->Being called crazy is a compliment</p> <p class="MsoListParagraphCxSpMiddle" style="font-weight: normal; text-indent: -0.25in; "><!--[if !supportLists]-->7.<span style="font-family: 'Times New Roman'; font-size: 7pt; "> </span><!--[endif]-->Anyone can become an entrepreneur</p> <p class="MsoListParagraphCxSpMiddle" style="font-weight: normal; text-indent: -0.25in; "><!--[if !supportLists]-->8.<span style="font-family: 'Times New Roman'; font-size: 7pt; "> </span><!--[endif]-->Simplicity is always key</p> <p class="MsoListParagraphCxSpMiddle" style="font-weight: normal; text-indent: -0.25in; "><!--[if !supportLists]-->9.<span style="font-family: 'Times New Roman'; font-size: 7pt; "> </span><!--[endif]-->Sharing is cooler than reading</p> <p class="MsoListParagraphCxSpLast" style="font-weight: normal; text-indent: -0.25in; "><!--[if !supportLists]-->10.<span style="font-family: 'Times New Roman'; font-size: 7pt; "> </span><!--[endif]-->Even people who doodle on business cards can become successful</p> <p class="MsoNormal" style="font-weight: normal; "><span style="font-size: 100%; ">Why is Hugh MacLeod relevant to us at WieseLaw Firm? Because he rocks, and was recently named Babson College’s official cartoonist. His purposeful art says far more in a handful of words than most books do, making him the perfect fit for Babson. We’re stoked to see more of what this new marriage comes up with. And if it’s anything like the piece displayed on <a href="http://bostinno.com/2012/01/12/hugh-macleod-babsons-official-cartoonist-gapes-into-the-void-of-thought-entrepreneurship/">this </a></span><span style="font-size: 100%; "><a href="http://bostinno.com/2012/01/12/hugh-macleod-babsons-official-cartoonist-gapes-into-the-void-of-thought-entrepreneurship/">article</a>, it will be good. (Hint, it says, “quit your yappin’ and go create something.”)</span></p> <p class="MsoNormal" style="font-weight: normal; "><span style="font-size: 100%; ">Need we say more? </span></p><p class="MsoNormal" style="font-weight: normal; ">[Awesome illustration above from http://gapingvoid.com/]</p> <!--EndFragment-->Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-35934272285181951212012-02-02T12:48:00.004-06:002012-02-02T13:02:49.944-06:00The Role of the Right-Brainers<p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); ">Deal People -- We need to think beyond our transactions! </p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><br /></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); ">This means looking at the world of<b> interaction </b>and<b> influence</b>, and looking at the world beyond common left-brain skills (like accounting and law, for example). <a href="http://www.danpink.com/about">Daniel Pink</a>, super blogger and author of some outstanding books, has given us a key to the world of interaction. Specifically, <i>A Whole New Mind: Why Right-Brainers Will Rule The Future. </i>In it, Pink introduces readers to six right-brain senses we need to supplement our left-brain senses with in order to successfully differentiate ourselves. They are the following:</p><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 320px; height: 213px;" src="http://2.bp.blogspot.com/-902EXeoEhE0/TyrdDhp7ckI/AAAAAAAAAEQ/uETYkev4Ayk/s320/Mercedes-Benz-Left-Brain-Right-Brain4-667x444.jpeg" border="0" alt="" id="BLOGGER_PHOTO_ID_5704614930661732930" /><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><br /></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><u></u></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "> <i><b><span style="font-family: Symbol; ">·</span><span style="font-size: 7pt; "> </span>Design<u></u><u></u></b></i></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><i><b><br /></b></i></p><p style="font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><i><b><span style="font-family: Symbol; ">·</span><span style="font-size: 7pt; "> </span>Story<u></u><u></u></b></i></p><p style="font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><i><b><span style="font-family: Symbol; ">·</span><span style="font-size: 7pt; "> </span>Symphony<u></u><u></u></b></i></p><p style="font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><i><b><span style="font-family: Symbol; ">·</span><span style="font-size: 7pt; "> </span>Empathy<u></u><u></u></b></i></p><p style="font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><i><b><span style="font-family: Symbol; ">·</span><span style="font-size: 7pt; "> </span>Play<u></u><u></u></b></i></p><p style="font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><i><b><span style="font-family: Symbol; ">·</span><span style="font-size: 7pt; "> </span>Meaning</b></i><u></u><u></u></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); ">Once we adopt these senses and the accompanying mindset of interaction (in addition to the left-brain skills), we will provide our clients with a differentiated value. <u></u><u></u></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><br /></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); ">So go out there and master storytelling, bring design to your practice, and place a real importance on laughing and playing. If you haven’t yet read <i>A Whole New Mind, </i>I highly suggest it. It is a life changer.<u></u><u></u></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "> You can find it <a href="http://www.amazon.com/dp/1594481717/ref=rdr_ext_tmb">here.</a></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><br /></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); ">[Photo Credit: Mercedes Benz ad from <a href="http://hebeapparel.com/blog/?p=35">here</a>].</p>Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-90880557837265159302012-01-19T13:55:00.002-06:002012-01-19T14:53:37.651-06:00The Power of Entrepreneurial Thinking Everywhere<a href="http://3.bp.blogspot.com/-C0AB3Di1Mvc/Txh28EBIBiI/AAAAAAAAAEE/8t4CYHkRI8c/s1600/Entrepreneur-picture.jpeg"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 200px; height: 149px;" src="http://3.bp.blogspot.com/-C0AB3Di1Mvc/Txh28EBIBiI/AAAAAAAAAEE/8t4CYHkRI8c/s200/Entrepreneur-picture.jpeg" border="0" alt="" id="BLOGGER_PHOTO_ID_5699436102680053282" /></a><br /><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); ">Oftentimes people think you have to be a certain type of person in order to become an entrepreneur. I’m here to say they’re all wrong. Being a good entrepreneur requires a specific <i>mindset</i>, and one that anyone can take on.</p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "> </p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); ">In this day in age we need entrepreneurial mindsets to be able to create and innovate in situations of great ambiguity. Here at the law studio we use a framework called <b>ET & A</b> <a href="http://bit.ly/AttEXX">(Entrepreneurial Thought & Action)</a>, developed by Babson’s College President Len Schlesinger, in its simple form:</p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><br /></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "> </p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><b>The 4 questions you answer are:</b></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><br /></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "> </p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "> Who am I?</p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "> What do I know?</p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "> Who do I know?</p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "> What am I willing to lose?</p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><br /></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "> </p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><span>Once you have answered those questions, the proper entrepreneurial mindset will be yours. Just remember – the next key element is <i>action.</i></span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); "><span><i><br /></i></span></p><p class="MsoNormal" style="margin-top: 0px; margin-right: 0px; margin-bottom: 0px; margin-left: 0px; font-family: arial, sans-serif; font-size: 13px; text-align: -webkit-auto; background-color: rgba(255, 255, 255, 0.917969); ">(Photo -- <a href="http://www.entrepreneursolo.com/entrepreneur-thoughts/the-entrepreneur-definition">from here</a>).</p>Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-31873052930269622302012-01-12T16:18:00.004-06:002012-01-12T16:25:48.270-06:00Deal Day Questions<a href="http://2.bp.blogspot.com/-HV8wHb2pUgc/Tw9dz6PJqRI/AAAAAAAAAD4/tE4IO3dvzwk/s1600/%253F%2B.jpg"><img style="float:right; margin:0 0 10px 10px;cursor:pointer; cursor:hand;width: 200px; height: 200px;" src="http://2.bp.blogspot.com/-HV8wHb2pUgc/Tw9dz6PJqRI/AAAAAAAAAD4/tE4IO3dvzwk/s200/%253F%2B.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_5696875200034482450" /></a>There are a lot of unknowns in the deal world, but one thing is crystal clear to us: you need to ask the right questions. In September we wrote about <a href="http://bit.ly/opG0A3">some good questions</a> to ask your opponent while at the negotiation table, but those aren’t the questions we’re talking about now. What we’re interested in are the three questions you need to ask yourself before you make a decision on your deal.<br /><br /><span style="font-weight:bold;">BE SURE TO ASK YOURSELF:</span><br /><br />1. Is this deal worth my time and effort?<br /><br />2. What are the key terms in the deal?<br /><br />3. Can we be successful with those exact terms?<br /><br />If the answer to numbers one or three are “no” or “maybe,” run far, far away. If the answers are a solid “yes,” then you’re golden.<br /><br />What questions do you ask yourself before you make your final decision?Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-8860314895530368562011-12-21T09:15:00.006-06:002011-12-21T09:19:04.578-06:00Finding Your True North<a href="http://4.bp.blogspot.com/-Uc4VPQEhTqI/TvH4lKls5EI/AAAAAAAAADg/pO01Z8JQO6I/s1600/Compass.jpeg"><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 320px; height: 211px;" src="http://4.bp.blogspot.com/-Uc4VPQEhTqI/TvH4lKls5EI/AAAAAAAAADg/pO01Z8JQO6I/s320/Compass.jpeg" border="0" alt=""id="BLOGGER_PHOTO_ID_5688601121726981186" /></a> A compass is an instrument for finding direction. One of the most powerful assets in our lives is that only you can be you. Your core challenge in life is to find your true north – your authentic self – using that magnet within you that is called your soul. And, upon such discovery, to focus your being toward advancing the human condition.<br /><br /> <br />In the deal world, your compass should be filled out as follows:<br /><br />North = Knowing what you want (the essence – it's more than time and money)<br /> <br />East = Knowing who you know that can help you with this particular deal<br /> <br />West= Knowing what resources you have to work with<br /> <br />South = Knowing who or how you can fairly share the risk<br /><br />Have you ever used a deal compass like this? Has it proved helpful?<br /><br />[Photo Credit: http://www.nateriggs.com/]Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-66372278208902227912011-11-21T11:02:00.006-06:002011-11-22T13:06:42.386-06:00Deal Cartographer<a href="http://3.bp.blogspot.com/-_2NDm8c74DE/TsvyQhFXe1I/AAAAAAAAADU/fNJa0ELHbt4/s1600/old-world-map.jpg" onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}"><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 320px; height: 245px;" src="http://3.bp.blogspot.com/-_2NDm8c74DE/TsvyQhFXe1I/AAAAAAAAADU/fNJa0ELHbt4/s320/old-world-map.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_5677898120803351378" /></a><div>It's sad but true -- deal world is full of ambiguity. We have tools at our fingertips that we can use to navigate this unknown terrain, however.</div><div><br /></div><div>When making a deal in a landscape of ambiguity, it's imperative to use <i>at least</i> two tools (deal map and compass) and one strategy (relationship building). Today we'll discuss the first tool:</div><div><br /></div><div><b>The Deal Map:</b> Be sure that you can <i>visualize </i>your deal. One way to create a deal map is to draw a picture of your desired destination, then fill the map in backwards as you go through negotiations. The visual landscape of your desire mixed with what is actually happening will form the landscape. When you take a look at it, you'll recognize bridges, barriers and gaps to your desired destination. With each deal you'll get better, and more effective strategies and tactics will come to mind. Eventually, you'll become a <i>deal cartographer. </i>If you can draw your deal, you'll fully understand it.</div><div><br /></div><div>With a Deal Map you can navigate your way through all obstacles by turning them into opportunities, and you'll therefore find yourself where you want to be. If you don't like where you're headed, reroute. <a href="http://bit.ly/vnD6df">Here's</a> an example of a simple Deal Map we created at WieseLaw.</div><div><br /></div><div>Next week we'll discuss the second essential tool for a successful negotiation, The Compass. Stay tuned! Meantime, make sure you strategize your next deal by creating a Deal Map of your own.</div><div><br /></div><div>Photo from <a href="http://bit.ly/vL64YU">webresourcesdepot.com</a></div>Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com1tag:blogger.com,1999:blog-143089289858985099.post-51856846567559660642011-11-11T13:33:00.003-06:002011-11-11T13:43:04.923-06:00Filter Your Opportunities<div style="text-align: left;">Those of us who are lucky enough to have jobs are typically time-starved.<span style="mso-spacerun: yes"> </span>When this occurs we aren’t reflecting on what we’re doing, and reflection is invaluable because from that comes excellence, creativity and innovation.</div><div style="text-align: left;"><br /></div><p class="MsoNormal">We believe doing less, better is the wise approach. Our ability to say “no,” has increased the quality of what we’ve said “yes” to. We need to have discipline over our time, and one good way to battle our time poverty is through creating an opportunity filter. Look at each of your opportunities carefully and make sure what you’re doing is your best option.</p><p class="MsoNormal"><a href="http://www.wieselaw.com/pdf/Opportunity%20Filter.pdf">Here’s</a> the opportunity filter we use at WieseLaw. Before you jump on another opportunity, be sure to adopt a filter of your own.</p><p class="MsoNormal">What are the elements of your filter?</p><p class="MsoNormal"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 320px; height: 319px;" src="http://3.bp.blogspot.com/-RBNToS3ErWE/Tr16Ua7CbWI/AAAAAAAAADI/yJL9D8Qsjyc/s320/GreenFunnel.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_5673825596799610210" /></p><p class="MsoNormal" style="text-align: center;"><span class="Apple-style-span" style="font-family:'trebuchet ms';"><span class="Apple-style-span" style="font-size:x-small;">Photo fro</span></span><span class="Apple-style-span" style="line-height: 17px; -webkit-border-horizontal-spacing: 2px; -webkit-border-vertical-spacing: 2px; "><span class="Apple-style-span" style="font-family:'trebuchet ms';"><span class="Apple-style-span" style="font-size:x-small;">m greenfield-services.ca</span></span></span></p> <!--EndFragment-->Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-86738693898818609492011-10-19T15:22:00.005-05:002011-10-19T15:25:53.554-05:00Book Giveaway -- EXTENDED!<span class="Apple-style-span" style="font-size:medium;"><span class="Apple-style-span" style="font-family:arial;">Many thanks to everyone who participated in our book giveaway! We're extending the giveaway for the following two books:</span></span><div><ul><li><span class="Apple-style-span" style=" color: rgb(51, 51, 51); line-height: 20px; "><span class="Apple-style-span" style="font-size:medium;"><span class="Apple-style-span" style="font-family:arial;">Up North, Reflections Moments & Memories by Joe Brandmeier</span></span></span></li><li><span class="Apple-style-span" style=" color: rgb(51, 51, 51); line-height: 20px; "><span class="Apple-style-span" style="font-size:medium;"><span class="Apple-style-span" style="font-family:arial;">Negotiation Genius by Deepak Malhotra and Max H. Bazerman</span></span></span></li></ul><div><span class="Apple-style-span" style="color:#333333;"><span class="Apple-style-span" style="line-height: 20px; "><span class="Apple-style-span" style="font-size:medium;"><span class="Apple-style-span" style="font-family:arial;">Watch for Facebook messages and and tweets for your chance to win!</span></span></span></span></div></div>Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-55988523115665747732011-10-12T08:33:00.007-05:002011-10-12T09:06:27.943-05:00Wiese Law Book Giveaway!<p class="MsoNormal"><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;">We're giving away some books to five lucky winners! See the official rules below:</span></span></p><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 320px; height: 213px;" src="http://2.bp.blogspot.com/-e6Ww71iBi48/TpWYnkyAzHI/AAAAAAAAAC8/jMl72oew9mU/s320/4114564467_15682215ec.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_5662599912144030834" /><p class="MsoNormal"><b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;">OFFICIAL RULES</span></span></b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;"> </span></span></p> <p class="MsoNormal"><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;">NO PURCHASE OR PAYMENT OF ANY KIND IS NECESSARY TO ENTER OR WIN THIS BOOK GIVEAWAY.</span></span><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;"> </span><span class="Apple-style-span" style="font-size:medium;">OPEN ONLY TO LEGAL RESIDENTS OF THE 50 UNITED STATES & D.C., AGE 18 OR OLDER. VOID WHERE PROHIBITED. U.S. LAW GOVERNS THIS BOOK GIVEAWAY.</span><span class="Apple-style-span" style="font-size:medium;"> <o:p></o:p></span></span></p> <p class="MsoNormal"><span style="font-family:Arial;"><o:p><span class="Apple-style-span" style="font-size:medium;"> </span></o:p></span></p> <p class="MsoNormal"><b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;">1. HOW TO ENTER:</span></span></b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;"> The entry period for the Wiese Law Firm Book Giveaway begins at 9:00 a.m. Central Time (CT) on October 12, 2011 and ends at 5:00 p.m. CT on October 18, 2011. To enter, during the Entry Period, follow @WieseLawFirm on Twitter and re-tweet WieseLawFirm’s contest tweet, OR “like” WieseLaw on Facebook. No purchase is necessary. <o:p></o:p></span></span></p> <p class="MsoNormal"><span style="font-family:Arial;"><o:p><span class="Apple-style-span" style="font-size:medium;"> </span></o:p></span></p> <p class="MsoNormal"><b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;">2. ELIGIBILITY:</span></span></b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;"> This book giveaway is open only to legal residents of the fifty United States and the District of Columbia who are 18 years of age or older as of the date of entry. <o:p></o:p></span></span></p> <p class="MsoNormal"><span style="font-family:Arial;"><o:p><span class="Apple-style-span" style="font-size:medium;"> </span></o:p></span></p> <p class="MsoNormal"><b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;">3. WINNER SELECTION:</span></span></b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;"> Five (5) winners will be selected in a random drawing on or about October 19, 2011 from among all eligible entries received. Odds of winning depend on the number of eligible entries received. The potential winners will be notified in the form of a private message on Twitter directed to the Twitter username used by the potential winner, or by a personal message on Facebook. If a potential winner does not respond to the notification within 48 hours, he or she may be disqualified and the prize awarded to an alternate winner. Winners are subject to verification. <o:p></o:p></span></span></p> <p class="MsoNormal"><span style="font-family:Arial;"><o:p><span class="Apple-style-span" style="font-size:medium;"> </span></o:p></span></p> <p class="MsoNormal"><b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;">4. PRIZES:</span></span></b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;"> Each of the five winners will win one of the following five books: </span></span><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;">Up North, Reflections Moments & Memories by Joe Brandmeier; Getting More, How to Negotiate to Achieve your Goals in the Real World, Stuart Diamond; Negotiation Genius, Deepak Malhotra and Max H. Bazerman; Getting to YES, Negotiating Agreement with Giving In, Roger Fisher and William Ury; and Leverage, How to Get it & Keep It in any Negotiation, Roger Volkema. </span></span><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;">All federal, state, local taxes on prize value, if applicable, are the responsibility of the winner. The prizes will be awarded if properly claimed. No substitution, cash redemption or transfer of the right to receive a prize is permitted. All expenses or costs associated with the acceptance or use of the prize are the responsibility of the winner. Prizes are awarded “as is” and without any warranty, except as required by law or such warranties as may be provided by a third-party manufacturer. <o:p></o:p></span></span></p> <p class="MsoNormal"><span style="font-family:Arial;"><o:p><span class="Apple-style-span" style="font-size:medium;"> </span></o:p></span></p> <p class="MsoNormal"><b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;">5. GENERAL RULES:</span></span></b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;"> Sponsor reserves the right to modify these Official Rules or to modify, suspend or terminate the Book Giveaway at any time in its discretion, including without limitation in the event of any changes to the Twitter Terms of Service. Sponsor is not responsible for late, lost, delayed, illegible, damaged, corrupted or incomplete entries, incorrect or inaccurate capture of, damage to, or loss of entries or entry information, or any other human or technical errors of any kind relating to the submission, collection, storage or processing of entries or the administration of the Book Giveaway. Sponsor reserves the right at its sole discretion to disqualify any individual who tampers or who Sponsor suspects may intend or attempt to tamper with the entry process. Sponsor may prohibit any potential entrant from participating in the Book Giveaway or winning a prize if, in Sponsor’s sole discretion, it determines that said entrant is attempting to undermine the legitimate operation of the Book Giveaway by cheating, hacking, deception or other unfair playing practices or intends or is attempting to annoy, abuse, threaten or harass any other entrants or any representative of Sponsor. The use of agents or automated methods or programs to enter the Book Giveaway is prohibited Sponsor reserves the right, in its sole discretion, to cancel, modify or suspend this Book Giveaway should a virus, bugs, entrant fraud or misconduct, or other causes beyond the control of the Sponsor corrupt the administration, integrity, security or proper operation of the Book Giveaway. In the event of termination of the Book Giveaway, a notice will be posted and a random drawing to award the prizes will be conducted from among all eligible entries received prior to the time of termination. Entry times will be determined using Sponsor’s computer, which will be the official clock for the Book Giveaway. All federal, state and local laws and regulations apply. By entering, each entrant releases and agrees to hold Sponsor, its parent companies, affiliates, subsidiaries, distributors and agents, and each of their directors, officers, employees and assigns, harmless from and against any and all claims and liability arising out of participation in the Book Giveaway or use of prize. Entrants assume all liability for any injury or damage caused, or claimed to be caused, by participation in this Book Giveaway or use or redemption of any prize. Acceptance of prize constitutes permission for the Sponsor and its parent companies, affiliates, subsidiaries, agents and licensees to use winner's name and/or likeness for purposes of advertising and trade without further compensation, unless prohibited by law. All entries become the sole property of Sponsor and will not be verified or returned. By participating in this promotion, entrants agree to be bound by the Official Rules and the decisions of Sponsor and the judges, which are final and binding in all respects. Sponsor is not responsible for any typographical or other error in the printing of the offer, administration of the Book Giveaway or in the announcement of the prize. In no event will more than the stated number of prizes be awarded. <o:p></o:p></span></span></p> <p class="MsoNormal"><span style="font-family:Arial;"><o:p><span class="Apple-style-span" style="font-size:medium;"> </span></o:p></span></p> <p class="MsoNormal"><b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;">6. DISPUTES:</span></span></b><span style="font-family:Arial;"><span class="Apple-style-span" style="font-size:medium;"> By entering the Sweepstakes, each entrant agrees that (a) any and all disputes, claims, and causes of action arising out of or connected with the Sweepstakes, or any prizes awarded, shall be resolved individually, without resort to any form of class action; and (b) any and all claims, judgments and awards shall be limited to actual out-of-pocket costs incurred, including costs associated with entering the Sweepstakes, but in no event attorneys' fees; and (c) under no circumstances will any entrant be permitted to obtain any award for, and entrant hereby waives all rights to claim punitive, special, incidental or consequential damages and any and all rights to have damages multiplied or otherwise increased and any other damages, other than for actual out-of-pocket expenses. All issues and questions concerning the construction, validity, interpretation and enforceability of these Official Rules, or the rights and obligations of the entrants and Sponsor in connection with the Book Giveaway, shall be governed by, and construed in accordance with the laws of the State of Minnesota without giving effect to any choice of law or conflict of law rules or provisions that would cause the application of the laws of any jurisdiction other than the State of New York. Any legal proceedings arising out of this Book Giveaway or relating to these Official Rules shall be instituted only in the federal or state courts located in the State of New York, and each entrant consents to jurisdiction therein with respect to any legal proceedings or disputes of whatever nature arising under or relating to these rules or the Book Giveaway.</span><o:p></o:p></span></p><p class="MsoNormal"><span class="Apple-style-span" style="font-family:Arial;">(Photo from 100scopenotes.com)</span></p> <p class="MsoNormal"><span style="mso-bidi-font-family:Calibri; mso-ascii-theme-font:major-latin;mso-hansi-theme-font:major-latin;mso-bidi-font-family:Arial;font-size:13.0pt;"><o:p> </o:p></span></p> <!--EndFragment-->Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-36210273574364090722011-09-27T08:11:00.005-05:002011-09-27T08:24:10.164-05:00"Tommy Can You Hear Me?"*<a href="http://2.bp.blogspot.com/-ZiN8uIxIfYs/ToHNUmrkh3I/AAAAAAAAAC0/XyNYsSW_r9E/s1600/I_m_Listening_-logo-35D7099BCF-seeklogo.com.gif" onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}"><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 200px; height: 200px;" src="http://2.bp.blogspot.com/-ZiN8uIxIfYs/ToHNUmrkh3I/AAAAAAAAAC0/XyNYsSW_r9E/s320/I_m_Listening_-logo-35D7099BCF-seeklogo.com.gif" border="0" alt="" id="BLOGGER_PHOTO_ID_5657028360818427762" /></a><br /><div style="text-align: center;"><br /></div>*A song written by the great Pete Townshend of The Who<div style="text-align: center;"><br /></div><div>The one who listens is the one who has the power in the conversation. Why? Because listening will guide you to create an accurate picture of the deal in the parties' minds. The negotiation pro, Stuart Diamond, describes this as painting pictures in the mind of the parties. The mind is the most important tool to effectively achieve your goals in a negotiation. Paint your master piece by asking good questions and by truly listening to the answers.</div><div><br /></div>Here are some good questions to ask next time you want to paint pictures in the minds of the parties:<div><br /></div><div><ul><li>What problem will this deal solve?</li><li>Why are we solving it this way?</li><li>What is the value proposition of this deal?</li><li>What is your biggest fear of this transaction?</li><li>How did you develop your business model?</li><li>Can you walk me through a sample transaction from the beginning to the end?</li></ul><div>Adopt the mindset of a listener and you will be well on your way to being a rockstar dealmaker. </div></div><div><br /></div><div>(photo from http://www.seeklogo.com/)</div><div><br /></div>Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-45358695832312480992011-08-19T15:05:00.008-05:002011-08-19T15:27:41.659-05:00Negotiation Steps for Wimps<div>
<br /></div><a href="http://1.bp.blogspot.com/-m6yuPiWpqKo/Tk7F4mvmSwI/AAAAAAAAACk/0kQaoMiezQM/s1600/Wimp-150x150.jpg" onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}"><img style="float:left; margin:0 10px 10px 0;cursor:pointer; cursor:hand;width: 150px; height: 150px;" src="http://1.bp.blogspot.com/-m6yuPiWpqKo/Tk7F4mvmSwI/AAAAAAAAACk/0kQaoMiezQM/s400/Wimp-150x150.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_5642664959405345538" /></a><div style="text-align: left;">Are you a negotiaphobe? Does the thought of actively participating in a debate-like discussion run chills through your spine? It’s OK – negotiaphobia is more common than one might think. The fact of the matter is that we spend so much of our time negotiating that it’s truly an integral skill to possess.</div> <p class="MsoNormal">
<br /></p><p class="MsoNormal">So, you’re a negotiation wimp … who cares? All you need to do is follow these five steps – which we pulled from the one and only <i><a href="http://theoneminutenegotiator.com/">One Minute Negotiator</a></i><i style="mso-bidi-font-style:normal"> </i>by Don Hutson and George Lucas – and you’ll be a pro:</p> <p class="MsoNormal"><b style="mso-bidi-font-weight:normal">STEP 1: PREPARE</b></p> <p class="MsoNormal">Know who your opponent is. Do your best to understand his or her stance before you enter the negotiation. On the contrary, know your own stance. Do your research so you can cover all bases in case your opponent throws a curveball at you.</p> <p class="MsoNormal"><b style="mso-bidi-font-weight:normal">STEP 2: PARTNER WITH SOMEONE ON YOUR SIDE</b></p> <p class="MsoNormal">Find yourself a strong ally before you enter the negotiation. Learn from him or her possible selling points you may not have thought of yourself. Having an ally will also pump you up with confidence, knowing you’re not the only one who believes in your case.</p> <p class="MsoNormal"><b style="mso-bidi-font-weight:normal">STEP 3: USE A CHECKLIST</b></p> <p class="MsoNormal">The worst thing you could do is go into your negotiation and forget everything you stand for. Take a moment to write everything down. If you’re more visual, use a mind map. If you’re more of a perfectionist, write yourself a script. Don’t be ashamed to bring your checklist with you while negotiating; you may feel silly but you sure as heck won’t when you nail all your points.</p> <p class="MsoNormal"><b style="mso-bidi-font-weight:normal">STEP 4: ROLEPLAY</b></p> <p class="MsoNormal">Role-playing is not just for children and theater geeks; hard-core negotiators do it, too. Find someone, perhaps your ally, who knows all your hard-selling points, and have him or her throw some sticks in your spokes – this will prepare you for the real negotiation and you’ll be far more prepared.</p> <p class="MsoNormal"><b style="mso-bidi-font-weight:normal">STEP 5: ALWAYS BE HARD ON DEAL POINTS AND SOFT ON PEOPLE</b></p> <p class="MsoNormal">You don’t want to go into your negotiation like a harda** -- that usually doesn’t go over well. It’s intimidating and has a track record of pissing people off. Instead, lay down the law with your points, but be as kind as can be when addressing your opponent. You want him or her to like you and eventually agree with you. Entering your negotiation on your high horse is most likely <i>not</i> going to be effective. Stay grounded on your points, stay sweet to your opponent.</p> <p class="MsoNormal">So, negotiation wimps, you have no excuses now! Just try out these five negotiation tips and you’re sure to be a pro soon. Negotiaphobia, what’s that?</p><p class="MsoNormal">[Photo from <a href="http://kingofgeorge.blogspot.com/2010/09/councilman-benoit-wimps-out.html">KingofGeorge.blogspot.com</a>]</p> <!--EndFragment--> Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-40146225311781838872011-08-11T15:49:00.006-05:002011-08-11T15:54:40.039-05:00Deutscher Meister Foosball Table GiveawayDear Readers,<div>We have in the WieseLaw Contract Studio a Deutscher Meister foosball table that we'd like to get rid of. We don't want this table to land in just anybody's hands, however. What we'd like to do is donate it to a local program that could use a little foosball fun. Some spirit brightening, if you will.</div><div>
<br /></div><div>Here's where we'd like your help -- we want to know what organization could use this foosball table and why. Just leave us a comment with the name of the organization, why they deserve it, and the contact information, and we'll choose a company to adopt our lovely table.</div><div>
<br /></div><div>Thanks for your help! We really appreciate it.</div>Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com2tag:blogger.com,1999:blog-143089289858985099.post-89659905171584223102011-08-10T11:37:00.003-05:002011-08-10T11:40:29.668-05:00The Deal Graveyard<div style="text-align: center;">Steer clear of these terms -- they've killed many great deals:</div><div>
<br /><a href="http://4.bp.blogspot.com/-r4EGmnKkKcw/TkK0QVKeqaI/AAAAAAAAACU/QVXeiZwAJKs/s1600/Yikes%2521.jpg" onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 309px; height: 400px;" src="http://4.bp.blogspot.com/-r4EGmnKkKcw/TkK0QVKeqaI/AAAAAAAAACU/QVXeiZwAJKs/s400/Yikes%2521.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_5639267876073286050" /></a>
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<br /></div></div>Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-10740885517862083862011-05-27T15:36:00.006-05:002011-05-27T15:47:16.700-05:00The Brilliant Negotiator Within<div style="text-align: left;">I saw this young kid at the bike shop trying to convince his parents to get him a bike.<span style="mso-spacerun: yes"> </span>He was a brilliant negotiator. His dad finally agreed to his complex proposal for a new set of wheels. This made me think that negotiation is an innate skill that we all possess but, with time, lose touch with. We supposedly “grow up” and in the process become negotiation wimps. Think back to when you were a child and tried to convince your parents to let you do things. You probably had a good success ratio.</div><p class="MsoNormal" style="text-align: left;"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 320px; height: 199px;" src="http://3.bp.blogspot.com/-SFeLeNXuvDs/TeANR3IRCbI/AAAAAAAAACI/ycTODreMVZw/s320/whiny-boy.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_5611499736211196338" /></p> <p class="MsoNormal" style="text-align: left;">It’s a common misconception that either you’re born to negotiate or you’re not, but I think that negotiation is a mindset and skill we all possess and need to reconnect with. When we were kids, we were authentic, we knew what we wanted and we knew what buttons to push so our parents would cave.<span style="mso-spacerun: yes"> </span>As an adult, we struggle to be authentic, are often confused about what we want and treat everyone the same.<span style="mso-spacerun: yes"> </span></p><p class="MsoNormal" style="text-align: left;"><span style="mso-spacerun: yes"></span>Brilliant negotiators are born inside us all, they just tend to die through the process of growing up. If you can overcome this irony and reconnect with the mindset and skills in your mental storage locker, you will be well on your way to becoming a great negotiator … AGAIN.</p><p class="MsoNormal" style="text-align: left;">The mindset and skill children have are the same as the framework that Stuart Diamond, author of <i style="mso-bidi-font-style:normal">Getting More, </i>says should be used for each and every negotiation.</p> <p class="MsoListParagraphCxSpFirst" style="text-indent:-.25in;mso-list:l0 level1 lfo1"></p><ul><li>Be authentic and know the desired goal(s)</li><li>Understand the other side and act accordingly (each person is different we must figure out how to connect with them versus overpowering them – focus on <i>them</i> versus yourself).</li><li>Figure out what it will take to persuade the others in this deal.<span style="mso-spacerun: yes"> </span></li></ul><p></p> <p class="MsoNormal">We all negotiate 20 to 40 hours<span style="mso-spacerun: yes"> </span>a week.<span style="mso-spacerun: yes"> </span>In fact, the value of your life is the sum total of the deals you negotiate. Why not reconnect to your brilliant negotiator within and kick some ass. Connecting to your natural brilliance comes from focus, practice, desire and persistence or, in simpler terms, from acting like you did when you were a kid.</p><p class="MsoNormal">(Photo from lovingyourchild.com)</p> <!--EndFragment-->Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-83607907567991137212011-05-02T07:18:00.010-05:002011-05-02T07:47:11.724-05:00Getting to "No" You<a href="http://2.bp.blogspot.com/-Zvhwtu7xOsc/Tb6lI9RK6dI/AAAAAAAAAB4/jrFt2JMROGE/s1600/NO.jpg" onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}"><img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height: 400px;" src="http://2.bp.blogspot.com/-Zvhwtu7xOsc/Tb6lI9RK6dI/AAAAAAAAAB4/jrFt2JMROGE/s400/NO.jpg" border="0" alt="" id="BLOGGER_PHOTO_ID_5602096559799593426" /></a><br />I have recently learned getting to "yes" is often proceeded by saying "no." A couple months back I was offered what I considered to be a dream job: great pay, international travel, the ability to work from home. Naturally, I jumped on the opportunity. I told my boss, my friends, my family – everyone – about my new gig. I purchased fancy clothes so I could be more businesslike. I spent all the money I knew I’d be getting before I saw a dime of it. After days of indecisiveness and tiring debates with myself, it hit me like a brick in the face: this job wasn’t right for me. I couldn’t quite voice why not, but I knew I had to say “no” to this seemingly unbeatable offer.<div><br /></div><div>Saying "no" to that opportunity lead me to something that felt right: WieseLaw Contract Studio. Here I am surrounded by business-igniters and thought leaders, jokesters and geniuses. Though I bid adieu to the prospect of designer clothes and trips around the world, I said hello to something even better. And look: after just a few weeks’ time, they taught me how magical it can be to say “no.”</div><div><!--StartFragment--> <p class="MsoNormal"><br /></p><p class="MsoNormal">This concept may seem a bit strange at first, but it’s something we should all try to embrace and find comfort in.<span style="mso-spacerun: yes"> </span>Nobody gets ahead by being a pushover, and they shouldn’t. What gets people far in life is having opinions and making definitive decisions. Here are a couple pointers to help you say “no:”</p><!--StartFragment--> <p class="MsoNormal" style="margin-left:.75in;text-indent:-.25in;mso-list:l0 level1 lfo1"><span style="mso-bidi-;font-family:Cambria;"><span style="mso-list:Ignore">-<span style="font:7.0pt "Times New Roman""> </span></span></span>Get over it: saying “no” doesn’t make you a bad person. It makes you a decision-maker.</p> <p class="MsoNormal" style="margin-left:.75in;text-indent:-.25in;mso-list:l0 level1 lfo1"><span style="mso-bidi-;font-family:Cambria;"><span style="mso-list:Ignore">-<span style="font:7.0pt "Times New Roman""> </span></span></span>If you go into a negotiation and are slightly uncomfortable with it, get it out on the table. Let the person know right away that you’re leaning towards no.</p> <p class="MsoNormal" style="margin-left:.75in;text-indent:-.25in;mso-list:l0 level1 lfo1"><span style="mso-bidi-;font-family:Cambria;"><span style="mso-list:Ignore">-<span style="font:7.0pt "Times New Roman""> </span></span></span>Remember what “no” often times leads to: an opportunity to say “yes.”</p> <!--EndFragment--> <p class="MsoNormal">So next time something does not feel right, have the courage to say "no." And remember, when someone says "no" to you, don't sweat it -- they may be trying to open a different door down the road.</p><p class="MsoNormal"></p><p class="MsoNormal" style="margin-left:.75in;text-indent:-.25in;mso-list:l0 level1 lfo1"></p><div><br /></div><p class="MsoNormal"></p><p></p> <!--EndFragment--> <p></p> <!--EndFragment--> </div>Tom Wiesehttp://www.blogger.com/profile/01602266201224017542noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-16114228249889000562010-11-04T14:33:00.000-05:002010-11-04T14:33:19.016-05:00The Looming NFL Lockout & the Shrinking Pie<table cellpadding="0" cellspacing="0" class="tr-caption-container" style="margin-left: auto; margin-right: auto; text-align: left;"><tbody>
<tr><td style="text-align: center;"><a href="http://4.bp.blogspot.com/_tuJ1AUdRORc/TNMKSQ45WHI/AAAAAAAAATQ/sfldZLEb9sc/s1600/Goodell_Smith.jpg" imageanchor="1" style="margin-left: auto; margin-right: auto;"><img border="0" height="266" src="http://4.bp.blogspot.com/_tuJ1AUdRORc/TNMKSQ45WHI/AAAAAAAAATQ/sfldZLEb9sc/s400/Goodell_Smith.jpg" width="400" /></a></td></tr>
<tr><td class="tr-caption" style="text-align: center;">AP Photo/Haraz N. Ghanbari</td></tr>
</tbody></table><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Back on October 12, 2010, the owners of the 32 NFL franchises met behind closed doors in Chicago. Dominating the news with respect to this meeting is the looming 2011 work stoppage predicted by many NFL reporters and insiders. I'll leave it to them to keep breaking down the minutiae of the various back and forth barrages between the owners and the players' union (the "NFLPA"). Where I think this dispute gets really interesting is breaking down what is at stake and doing a little negotiation analysis.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The NFL is a money-making machine. It just prints money. It is estimated that the NFL revenue for the 2009 season is in the ballpark of $8 billion. One estimate from the Wall Street Journal (article <a href="http://online.wsj.com/article/SB10001424052748703440004575548301026422006.html">here</a>) is that even if a new deal is reached with the NFLPA in time to save the season, losses from merchandising licensees and sponsorships could total as much as $1 billion (OUCH!). If the lockout continues through regular season games, the NFL stands to lose as much as $8 million per game canceled. </div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">The real down-side here for both players and owners is that for both players and owners, the negotiation situation gets worse - especially after March 1, 2011. As the revenue pie starts shrinking, the proposals will begin to shrink as well. Additionally, owners want to take a bigger piece of the NFL revenue set aside for player salaries and use that extra cash (roughly $1 billion) to reinvest in a host of projects aimed at long-term revenue growth for the teams and, ultimately, players as well.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Pushing the owners and the "NFL" is the large amount of debt carried by the league and its teams on which they have to make interest payments on whether games are played or not. In addition, costs are always increasing, new stadiums / box seats are being built each year, coach and staff salaries, etc.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">On the other side of the coin is the NFLPA representing the players interests. According to the NFLPA the average length of an NFL career is about <a href="http://www.nflplayers.com/about-us/FAQs/NFL-Hopeful-FAQs/">3.5</a> seasons. A lockout is devastating to an NFL prospect trying to make an NFL roster in a lockout year. There will be a whole crop of younger NFL prospects in next year's college class for teams to choose from. Striking while the iron is hot can be key, especially for the "lesser-knowns" in the league. For every Randy Moss, Tom Brady or Chris Johnson in the league there are many others who's future is much less certain.</div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Still, the owners, and the NFL for that matter, don't have much of a product without the players and one of the primary issues players have with shrinking salaries is the feeling that while they define the NFL product, they are being treated more or less like interchangeable parts while the owners reap huge profits. Much of the early wrangling between the NFLPA and owners has been the NFLPA asking to see the books. Basically as "show us why we shouldn't be making more money" request. </div><div style="text-align: justify;"><br />
</div><div style="text-align: justify;">Taking into account the added wildcards of the Supreme Court <a href="http://www.scotusblog.com/case-files/cases/american-needle-inc-v-nfl/">American Needle Inc. v. NFL</a> and the NFL's hiring of Robert Batterman - the NY Lawyer who led NHL owners through the season-long lockout of 2004-05, you have all the makings for an epic and acrimonious negotiation. Once again, the NFL lives up to its reputation for being the best soap opera on TV!</div>Cory Nielsenhttp://www.blogger.com/profile/01912102074206155955noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-83696570908134948112010-10-28T14:31:00.000-05:002010-10-28T14:31:45.135-05:00Using Visuals To Capture Important Contract Details<div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/_tuJ1AUdRORc/TMnPeYdwU3I/AAAAAAAAATM/Orsyb1Hf7Xg/s1600/369088_1884.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="400" src="http://4.bp.blogspot.com/_tuJ1AUdRORc/TMnPeYdwU3I/AAAAAAAAATM/Orsyb1Hf7Xg/s400/369088_1884.jpg" width="300" /></a></div><br />
Let's face it, one of the more daunting tasks when trying to digest a new deal is discerning the relevant business/operational details and then capturing that information in a way that allows you easy access without going back to the contract itself.<br />
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In our Deal World Rule #4 (<a href="http://www.wieselaw.com/pdf/Communique%204%20%28complete%29%28Sept%202008%29.pdf">Use Maps to See the Deal Landscape</a>) we discuss the utility of "deal maps" to help you better see the deal landscape. This is one of our favorite tools and we feel strongly that it is a great way to capture relevant information in an easy to digest format. There is an example of a deal map in the Deal World Rule link above to help spark some ideas.<br />
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Turning more directly to a contract, you can use a deal map to help capture the important deal terms so that a quick glance at your visual can replace hunting around in a contract. This can be extremely helpful when attempting to implement some contract management procedures. Generally, you'll want to capture several important terms:<br />
<ol><li>Contract Length:</li>
<ul><li>If you know the end date well in advance, you have time to form a more intelligent plan for renewing or shopping around for a new deal.</li>
<li>Renewal can often be tricky! Many contracts have an "evergreen" clause which allows the contract to renew automatically unless notice is given by a specific date. Knowing this date in advance can save a lot of headaches!</li>
</ul><li>Payment Terms:</li>
<ul><li>When can you expect payment after you've submitted an invoice? or How long after you receive an invoice do you have until you must remit payment?</li>
<li>What happens if there is a late payment?</li>
<li>What are your options if you are not paid?</li>
</ul><li>Ownership:</li>
<ul><li>Who owns the Work Product? Is it licensed out to a party or owned outright without restrictions?</li>
<li>Who can use the Work Product and how can they use it?</li>
</ul><li>Confidentiality:</li>
<ul><li>What information should be considered confidential and how should that information be handled?</li>
<li>What happens to information shared between the parties after the contract concludes or is terminated?</li>
</ul><li>Other:</li>
<ul><li>There are many times you may want to include other important deal terms in your deal map. These could include Warranties, Non-Compete clauses, "Most-Favored Nation" clauses, assignment (i.e., can you pass on your responsibilities under the contract to a third party?), publicity (i.e., what restrictions exist with regards to disclosing your relationship with the other party and/or the fact that you are partnering with them in some way?) among others.</li>
</ul></ol>Having all this information in an easily accessible and easy to understand format can be a great way to keep on top of your deals and help you get the most out of your future deals! Cory Nielsenhttp://www.blogger.com/profile/01912102074206155955noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-77516431291569097712010-10-05T15:05:00.000-05:002010-10-05T15:05:48.939-05:00Contracts & Behavioral Economics<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/_tuJ1AUdRORc/TKuFCO6VcVI/AAAAAAAAATI/ZRYPd0V-jOU/s1600/goodbad.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="398" src="http://1.bp.blogspot.com/_tuJ1AUdRORc/TKuFCO6VcVI/AAAAAAAAATI/ZRYPd0V-jOU/s400/goodbad.jpg" width="400" /></a></div>I'm always interested in the way in which compromises are reached, especially in terms of doing deals and putting that language into the contract. If we could do whatever we wanted without consequences, we'd all write contracts that pushed all burdens, obligations and risks to the other party while handing ourselves all the upside. Since that's not the way things work, we end up making compromises that end up shaping our behaviors with respect to the other party.<br />
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In the post, <a href="http://tcummins.wordpress.com/2010/09/26/contract-terms-as-a-driver-of-behavior/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+wordpress%2FlIUp+%28Commitment+Matters%29">Contract Terms as a Driver of Behavior</a>, Tim Cummins marvels over how little attention is paid by the legal community to the field of behavioral economics. This is primarily due to the way in which contract principles are presented in most law schools: You do something wrong, the contract has a way of punishing that behavior. The question posed by Tim is whether that's really all that helpful in terms of a real-world business contract. Do you want to punish failure or encourage full disclosure in order to attempt to mitigate the consequences of failure. Not an easy line to draw on the page.<br />
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It's fairly obvious that negative consequences do not always deter bad behavior. According to the prevalent work in economic theories most parties will breach a contract when it's possible to pay the appropriate damages and still make a profit. So, the question in my mind is how to reward or at least encourage "good" behavior between two contracting parties. For some interesting reading on the subject, check out <a href="http://hbswk.hbs.edu/item/5168.html">this</a> interview with Harvard Business School associate professor <a href="http://drfd.hbs.edu/fit/public/facultyInfo.do?facInfo=ovr&facId=337273">Nava Ashraf</a>. One of the issues raised in the interview discusses the issue:<br />
<blockquote>"... we trust managers to carry out the interests of shareholders: We can build contracts to align manager incentives with those of shareholders, but we are never able to completely contract on all the things we care about and want to enforce. Implicitly, then, we hold a belief that managers have internalized the values we care about, and trust them to act on those, particularly when they might come in conflict with their own interests."</blockquote>Without getting into the nitty gritty of Behavioral Economic Theory (which I am woefully unqualified to do), what many researchers are looking at now is what a breach of contract costs outside of the four corners of the contract. That is, what is your reputation, brand, trust, etc., worth in economic terms.Cory Nielsenhttp://www.blogger.com/profile/01912102074206155955noreply@blogger.com0tag:blogger.com,1999:blog-143089289858985099.post-75703890257691517502010-09-15T15:12:00.000-05:002010-09-15T15:12:33.567-05:00Term and Termination - A Translation<div class="separator" style="clear: both; font-family: "Trebuchet MS",sans-serif; text-align: justify;"><a href="http://2.bp.blogspot.com/_tuJ1AUdRORc/TJEomHRaUBI/AAAAAAAAATA/dV5BR4YRda0/s1600/contract.500.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="252" src="http://2.bp.blogspot.com/_tuJ1AUdRORc/TJEomHRaUBI/AAAAAAAAATA/dV5BR4YRda0/s400/contract.500.jpg" width="400" /></a></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><b>Term.</b> </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">One of the more clear-cut, "no-duh" contract clauses is the Term of the Agreement clause. Simply put the "Term" of the contract spells out how long the parties intend their agreement to last and should be included in every agreement. </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">Being able to clearly identify the duration of a given agreement is essential information to properly managing your deal portfolio. Once the deal is inked ensure that you note the date the agreement ends with some appropriate appropriate reminders that the end is near. This helps you to begin the process of evaluating the deal with enough lead time to make decisions about renewal, renegotiation or shopping around for a new business partner. </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">In addition, many Term clauses include "auto-renew" or "evergreen" clauses which allow for the contract to keep renewing unless terminated by one of the parties. The deadlines for terminating auto-renewals is often 60-90 days prior to the actual date the contract renews. If you have the appropriate reminders in place, you greatly reduce the risk of unwittingly continuing an unwanted partnership. </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><b>Termination.</b></div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">This is your exit strategy, that is, how the parties can end their contractual relationship. Generally, you can boil down most types of termination to "for-cause" and "not-for-cause" clauses. </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">In the case of "for-cause" termination clauses there can be a wide variety of reasons for ending the agreement. What happens if one of the parties is acquired by a third party? What if one of the parties enters bankruptcy? What if one of the parties breaches a material term of the agreement (such as failing to pay!)? "For-Cause" termination clauses allow you to exit a partnership that isn't working as planned and accounts for some foreseeable events that would make a continued partnership unfavorable. </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
</div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;">"Not-for-cause" clauses allow one or both of the parties to wind up the agreement for any reason or no reason at all. Needless to say, that gives the party with the right to terminate without cause some serious power over the relationship. If you are in the position of having a partner with this power, be sure to negotiate a transition period into that decision so that you have enough time to change gears in case your partner decides to terminate early. </div><div style="font-family: "Trebuchet MS",sans-serif; text-align: justify;"><br />
Many business and strategic decisions drive the length of the term and the exit strategies available to either party when entering into an agreement. Just remember - The value of your business (and your life) is the sum total of its deals!</div><div style="text-align: justify;"><br />
</div>Cory Nielsenhttp://www.blogger.com/profile/01912102074206155955noreply@blogger.com0