5 Reasons Good Deals Get Rejected

Whether its the negotiation of a bad debt, debt settlement or salary raise there are several ways to succeed and fail in the negotiation process. It’s one thing to lose a deal because you were just far too hard in the negotiation but sometimes the other side is even rejecting your reasonable offers.  When genuine attempts at negotiating in good faith are failing, you need a new approach. The key to success is understanding why people will sometimes reject even your best offers.

  1. You didn’t help them sell it to their partner

The person on the other side of the table might agree that your offer is reasonable, but they will still reject it if they can’t sell it to their spouse or partner. Your job is not simply to convince the person you’re negotiating with, but to help them be an effective ambassador for you when they are speaking to their partners, or others who have a say in what happens. Keep an eye on all of the people who can influence the negotiation on their side, and help build the case that will allow them to get the buy-in required.

If your talking to the husband then ask is he the one who pays the bills if he says yes you are talking to the decision maker. If not you have to help him sell it to his partner.

  1. The deal makes them look bad

People will often reject even fair and generous offers if accepting them will make them look bad.  For example, even a concession on your part that gives them something they would not have otherwise expected can help them declare victory to their side — or at least help them show that all sides had to give in.

By giving them more time or a bigger discount or paying the mailing costs you help them save face.

  1. You didn’t justify it

It’s not enough that you tell them what you want you have to explain why. No matter how reasonable your proposal may seem to you, if you fail to justify it, there is a good chance it will be rejected. Don’t let your offer speak for itself; tell the story that goes with it. If you want action today then tell them why something must be done today.

  1. You didn’t respect their boundaries

Sometimes the problem is that their hands are truly tied. They would be willing to give you more time to make a decision, but they are facing their own deadline. They would be willing to give you more money up front to seal the deal, but they have financial constraints.

The key here is flexibility:: the more currencies you allow someone to pay you in, the more likely you are to get paid. Find a way to discount this or add value in order to get the deal done.

  1. ABC | Always Be Closing

Why should they agree to one of your requests if this will not seal the deal.  If it is genuinely the case, it can help you to let them know that “this gets the deal done.” Or, offer more time if the person can sign an agreement to act in the future. Getting a pre dated payment fits this perfectly, the debtor can’t pay till the next payday by asking for the post dated check you get the deal closed and give the concession at the same time. The thing to remember is that you don’t always need to make a substantive concession in exchange for the concession you are asking for.

Lighthouse Consulting performs training classes for debt collection and debt settlement agents contact us for more info.

Lighthouse Consulting’s Jamaican Call Centres Provide Disaster Assistance To Hurricane Stricken Collection Agencies in the USA

Following Hurricanes Irma and Harvey many debt collection agencies and many other call centre operations have been disrupted. Yes most had or have a disaster plan and can move seats to another location or maybe another city but this is past a weather disaster, it is actually a much bigger problem for the agencies and call centres pocketbooks. These effected companies will, thanks to their disaster  recovery plans keep servicing their clients but the profits will disappear and if the outage continues the money loss will be the massive disaster that drowns the company in debt.

Lighthouse Consulting is here to provide financial relief to those effected agencies and call centres. 

Lighthouse Consulting can help you open an office in sunny Jamaica and have it up and running in weeks. It will be your office not an outsource situation. I can make it a turnkey operation for you, all you need to provide is staff training, a cloud based system and money. I can even guarantee the cost to be consistent and that cost can be as low as $10 hourly including the staff, computers, internet, chairs, cubicles and everything else needed to do business from the island. Thats just $400 a week per staff member.

This is not just a temporary solution its a business strategy that many collection agencies are embracing. And remember the hurricane season for 2017 will be over in a couple weeks. Lighthouse Consulting has been helping agencies set up their own call centres in  Jamaica over the last 2 years and we have created an ease of entry and a program that handles all the government paperwork for you.

I know you have question so click here to see the 3 most asked questions about Jamaican Call Centres.

Click here to explore the costs in a little more detail

Or just email me at phil@lighthouseconsultinginc.com or call me at 305-853-8773 to get started.

My Life In Jamaica Continues

Well I have been on the island most of 2017 and it continues to amaze me how many advantages their are and how many roadblocks that exist at the same time. From a business point of view the final results are tremendous but the daily struggle is both difficult and daily. The good thing is the clients I am working with only see the end results and have little knowledge of the bumps. Here are a couple examples of the good and frustrating.

My clients are collection agents in the US that are looking for reduced labor costs and at the same time increased liquidation results. By using my turnkey call centres my clients have fixed costs for labor and facilities and that cost is 20-30% of their same costs in the US. This makes it very easy for my clients to come to Jamaica and open a call centre as there will be no surprises due to the fact my turnkey costs are fixed. So this allows my clients to ignore the bumps and it puts all those hurdles on Lighthouse and myself.

One of the biggest hurdles is any type of paperwork on the island. Let me give you an example, to get a local drivers licence I proceeded to the tax office and got an application and some basic direction on the process. I was told to complete the application which requires passport pictures and several other steps and then come back to the tax office and pay a fee.

As I looked at the instructions for the DL application it states the passport images must be signed by a JP or Justice of the Peace. I ask my resources about the JP and learn that its like a cross between a notary and a judge, they are powerful people on the island. The signature of a JP states two things for most transactions on the island 1) that you are who you say you are and 2) that you are a reputable person. Well that second item is very interesting and we all know its hard to vouch for anyones morales and actions.

So I started the DL process because if you on the island for more that 6 months the requirement is to get a local DL. But the requirements to get the DL require a signature of a JP and a JP can only sign for people he or she has known over 24 months or 2 years.

I have to get a DL in 6 months but have to be on island for 2 years to know a JP that can legally sign. HUMMMM, No legal solution to that quandary.

The biggest hurdle is every piece of paperwork requires 4 more pieces of paperwork. I needed a TCC (Tax Compliance Certificate) to complete a work permit application and when I go to the tax office to get the certificate, that states I owes NO taxes I learn I cannot get it till I have a NIS and NHT certificate. I don’t even know what NIS or NHT are at this time but I learn its the National Insurance Scheme and the National Housing Trust and I proceed to two more government offices to wait in line, pay monies and learn more patience. Now its taken 2 days and I still have not gotten the document I needed to get my work permit application completed. HURDLES! HURDLES! PATIENCE!

And at the same time my clients are just happy campers and have no issues because I make sure they don’t. Its good to be a Lighthouse Consulting Jamaica Client.

5 Reasons Good Deals Get Rejected

Whether its the negotiation of a bad debt, debt settlement or salary raise there are several ways to succeed and fail in the negotiation process. It’s one thing to lose a deal because you were just far too hard in the negotiation. But sometimes the other side is even rejecting your reasonable offers. When genuine attempts at negotiating in good faith are failing, you need a new approach. The key to success is understanding why people will sometimes reject even your best offers.

1. You didn’t help them sell it to their partner
The person on the other side of the table might agree that your offer is reasonable, but they will still reject it if they can’t sell it to their spouse or partner. Your job is not simply to convince the person you’re negotiating with, but to help them be an effective ambassador for you when they are speaking to their partners, or others who have a say in what happens. Keep an eye on all of the people who can influence the negotiation on their side, and help build the case that will allow them to get the buy-in required.
If your talking to the husband then ask is he the one who pays the bills if he says yes you are talking to the decision maker. If not you have to help him sell it to his partner.
2. The deal makes them look bad
People will often reject even fair and generous offers if accepting them will make them look bad. For example, even a concession on your part that gives them something they would not have otherwise expected can help them declare victory to their side — or at least help them show that all sides had to give in.
By giving them more time or a bigger discount or paying the mailing costs you help them save face.
3. You didn’t justify it
It’s not enough that you tell them what you want you have to explain why. No matter how reasonable your proposal may seem to you, if you fail to justify it, there is a good chance it will be rejected. Don’t let your offer speak for itself; tell the story that goes with it. If you want action today then tell them why something must be done today.
4. You didn’t respect their boundaries
Sometimes the problem is that their hands are truly tied. They would be willing to give you more time to make a decision, but they are facing their own deadline. They would be willing to give you more money up front to seal the deal, but they have financial constraints.
The key here is flexibility:: the more currencies you allow someone to pay you in, the more likely you are to get paid. Find a way to discount this or add value in order to get the deal done.
5. ABC | Always Be Closing
Why should they agree to one of your requests if this will not seal the deal. If it is genuinely the case, it can help you to let them know that “this gets the deal done.” Or, offer more time if the person can sign an agreement to act in the future. Getting a pre dated payment fits this perfectly, the debtor can’t pay till the next payday by asking for the post dated check you get the deal closed and give the concession at the same time. The thing to remember is that you don’t always need to make a substantive concession in exchange for the concession you are asking for.
Lighthouse Consulting performs training classes for debt collection and debt settlement agents contact us for more info.