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Negotiation Information |
Negotiation Information
More Articles from Negotiation Information: MORE RESOURCES: In my career, which spans more than three decades of direct involvement in the events industry, having effectively negotiated and conducted hundreds of events, I have met numerous others who either portray themselves as, or really consider themselves event planners. It is important to understand that an effective event comes about only when it has been planned professionally and thoroughly, and all aspects have been considered. One of my favorite lines of all time comes from the movie Boiler Room. When Jim Young, a young, rich, and cocky senior stock broker, played by Ben Affleck tells a group of upcoming stock brokers: "And there is no such thing as a no sale call. A sale is made on every call you make. There are many ways to define negotiation, but there is only one secret to being a great negotiator: preparation. Most people do not prepare much for a negotiation, and many do not prepare at all. Do you see an opportunity here? When it comes to sitting around the negotiating table, we're all equal, right? In a perfect world, the answer would be yes. We don't live in a perfect world and so the answer is a very solid "no". So what does this mean for us - do some negotiators deserve to get more? Negotiation is often seen as something of an art, practiced by trained specialists. Often, we see ourselves as being powerless in a negotiation situation, but with a little practice and some easy tips, you can negotiate like a pro! Generally, the oil price are correlated with the quality of crude oil, like in the case of other trade products. There are several sorts of oil, each with different qualities and prices. The difference is primarily based on the chemical composition of crude oil. The sulphur content and the energy density are the most important factors in determining the correct pricing for the barrel of crude. Having successfully negotiated many hundreds of contracts over more than the last three decades, I have often observed numerous negotiating techniques and philosophies. Perhaps the poorest model has always been the negotiator who overly exaggerates what he will deliver, and makes often outlandish demands of his adversary. While there are many reasons that behavior occurs, including lack of integrity, lack of expertise, character flaw, etc., the result is almost invariably an unsuccessful and unsatisfying negotiation. Peter F. Drucker, the author's former professor and world renowned management sage urged executives to "Know Thy Time," as an essential first step in becoming more effective. Good idea, but we can't stop there. At every turn, we need to preserve it and deploy it smartly. This means negotiating for it, again and again. By now, we've all heard of Groupon, LivingSocial, Google Offers and Yelp Local Deals. In fact, to date there are roughly 521 daily deal websites in the United States alone. We'll explain how to use this leverage to squeeze every molecule of opportunity out of your daily deal feature. Many people think they know how to negotiate. However, in a large percentage of cases, these individuals end up being ill-prepared, rarely achieving anywhere near optimum results. This is especially true when events are negotiated by these individuals, and in far too many instances, their organizations suffer. Threats are yet another one of the negotiation styles and negotiating techniques that we can use. It turns out that that big stick has some consequences that you need to be aware of. In my over thirty years of planning many hundreds of events, conferences and conventions, I have discovered, often the hard way, many of the pitfalls and potential pitfalls involved in successfully planning effectively. One of the areas that has the greatest amount of ramifications involves meaningful budgeting, so as not to be unhappily surprised during the event. Intimidation can take on many forms during the course of a sales negotiation. One of the forms of intimidation that we are all very familiar with is when the other side of the table starts to raise the stakes. All of a sudden, what used to be a simple negotiation process suddenly become a lot more important. What's a negotiator to do? In my 20 years of training, coaching and selling, I have worked with 1,000's of sales professionals and observed them selling and negotiating in classroom role-plays and in actual client meetings. Regardless of the industry or the negotiation setting, there are five behaviors that top performers consistently demonstrate. To be effective and maintain the competitive edge, you need to be able to demonstrate the ability to do the following... So let's think about your next negotiating session. There you are and everything is going along quite nicely. You are making your points and the other side doesn't seem to be objecting to them too much. All of a sudden another person arrives and joins the other side of the table. They are introduced as an expert and they then proceed to tear big holes in the justifications that you had given for the deal that you were proposing. Dang it - done in by an expert once again. How to win a negotiation? In business you need to have an objective in mind before you start negotiating. State the Win-Win intention upfront and create a collaborate atmosphere from the beginning. Do you know the number one reason why people avoid negotiating? It's fear, the fear of looking bad. Most customers don't actually use the word objection and we have observed many salespeople miss the fact that their customer had an objection because it was phrased as a concern. This is a very common mistake made during a negotiation or on sales calls and easily rectified! Hear any good lawyer jokes lately? When we are negotiating we like to think that we're prepared for almost any possibility. However, there's one thing that can cause the blood of even a seasoned negotiator to run cold: the threat of legal action. All of the negotiation styles and negotiating techniques in the world aren't going to help you now. What's a negotiator to do? There is an unsettling truth about real-world encounters: Bullies often get more from negotiations. This best-selling author and negotiation consultant explains why. In today's world of commercial negotiating, there is no escaping the harsh reality that those who take the time to know more about the other party's business will have the upper hand. No longer can we be content with a limited store of basic in-house product knowledge. To be a convincing buyer or seller, we need to cast the net a lot wider. Not only must we be up-to-date with the basic products and services we are trading, but be across the whole spectrum of marketplace information that can impact on our competitive position. Even so, knowledge alone won't necessarily carry the day. How we use it - or how we refrain from misusing it - will inevitably be the game-changer. In every negotiation, you'll eventually run out of things to say to the other side of the table before you've been able to reach a deal. Never fear, I've got 3 techniques that you can use when you encounter this situation that are guaranteed to turn things around and keep the negotiation process moving towards a deal. This article should help you understand the process of negotiating compensation requirements. Furthermore, it will aid your ability to better negotiate and what to pay attention to during negotiations. Time and again, I have witnessed numerous organizations lose substantial amounts of monies because they failed to pre- negotiate numerous clauses, that are often key to substantially protecting the organization's interests. Over my career in event planning, negotiations, and organizing, which now spans over more than thirty years, I have continuously tweaked and adapted my contract demands, in order to assure these protections. Those areas that have often caused the greatest agony for organizations are: limiting/ amending attrition clauses; addressing audio- visual expenses; protections regarding food and beverage areas; protections because of economic downturns, wars, or acts of God... Indeed, I've always said that students of negotiation need to study psychology, but they also need to spend time watching kids play in the sandbox. Perhaps even watch movies and documentaries on chimpanzees and other primates as they play for their pecking order to decide which is the dominant alpha male. Why you ask? If negotiating was simple, there would be no need to negotiate at all. In that scenario, everyone would always agree, always be fair, always look at the big picture, always be honest and honorable, and always be fully understanding of the needs of both sides. Unfortunately (or perhaps fortunately to we who negotiate professionally), these conditions rarely occur in the real world. Afraid of the sales conversation? Mystified about how to get people to say yes to your offer? Learn a simple strategy on closing the sale in 6 easy steps. If I had a dollar for every time I could not move forward because I could not get a response from someone, I could go on a luxury trip. If I had a dollar for every time one of my clients was on hold because they could not get an answer from someone, I could retire now. How about you? Have you ever been held up because a co-worker, supplier, friend or family member would not respond? Are you being asked to do more than ever for less than you know you deserve? You may be making one or more of these 7 critical mistakes in negotiating your best comp package. When negotiating a favorable deal it makes sense to come from a position of strength, and there is probably no better way to maintain strength than to be the most efficient in what you do. Efficiency allows you to beat the competition, get the contract, and make the deal knowing there will be something in it for you. Now then, let's look at a case study for a moment - a truck wash negotiating contracts with fleet customers, and getting the business based on service and price point. In every negotiation, you'll eventually run out of things to say to the other side of the table. Never fear, I've got 3 techniques that you can use when you encounter this situation that are guaranteed to turn things around... It seems often enough that humans get totally confused on issues of ethics. Some of the things they do and pass off as ethical or politically correct end up doing just the opposite. Let me give you an example of a challenge we have in diplomacy, negotiation, and political dialogue. In Executive Search we see shocked companies making counter offers all the time. Counter Offers are to be expected, especially at Executive Level. No company wishes to lose their top players. Almost half of all employees receive a counter offer when they hand in their resignation and as such throughout the interview process we always ask our candidates how they would react to a counter offer, as it is usually the case that a company will try to keep them, at least as an interim step. However, in our experience acceptance of a counter offer is never a good idea. When running a small or medium business it can be hard to know exactly how to proceed in order to get the best out of a business relationship. Using O2 and HTC as a case study, find out how to excel when it comes to business deals. Negotiation is the delicate art of getting what you want while at the same time, ensuring that the other party also gets what they want - a win - win situation. This is a skill that you will learn over time; the more negotiations you take part in, the better you will become. In this article we provide the basic skills needed by someone who deals with customers or clients on a daily basis. When you enter into a negotiation do you automatically try to maximize your gain from the transaction? If so, you are not alone. However, you might want to step back and think about your game plan before you begin negotiating. There are different types of negotiating situations. You must know what type you face before you choose a strategy. Negotiation is essential aspect of collective life. Practically, it creates countless interactive benefits for mankind. Generally, negotiation is invoked to remove miscommunication. It is inevitable due to two reasons - interdependence & sociability. Negotiation by its very nature is collaborative. It requires a keen eye and a host of support to get it right when evaluating RFPs for your meeting. Learn the (5) tips that will help you evaluate your hotel proposals like an expert. When the answer to a question is a negative why don't people just say so? Business courtesy and professionalism dictate that you don't leave someone hanging. Don't settle for less than you deserve. Read on to get some tips on negotiating your appropriate salary. The goal of any negotiation is to get the other side of the table to see things your way. Hmm, how are we going to make that happen? What you are going to have to do is to become skilled at finding ways to support the position that you are taking. In order to get better at doing this, I've got 5 tips that will boost your skills... Do you always find it hard to turn people down, even if you really do not want to do what they're asking of you? Learning how to turn people down is a key skill for a man to learn. However, there are lots of men who suffer from this problem. Men who end up saying yes to just about every request presented to them and as a result they end up getting stuck doing things that they really do not want to do. Well, don't worry, there are actual ways that you can say "no" to people without looking like a complete jerk. Here are some pointers on how to turn people down while still retaining your manhood. When I'm working with negotiators who are trying to become better, they always ask me what the secret to moving to the next level is. For years I always told them that there was no "silver bullet" that would allow them to make the jump. It was just going to take a lot of hard work. If you own any kind of small business, then from time to time you will get someone who tries to negotiate your prices. What should you do? Read this short article to see my take on this. What is it going to take to make your next sales negotiation work out the way that you want it to? Do you need to go buy a bunch of negotiating books to learn the latest negotiation styles or negotiating techniques? Do you need to bring in a hired gun? Or maybe all it will take is something so simple that it often gets overlooked - setting up the negotiating room correctly? Those suppliers who use retailers or other resellers to take their products to market usually find that one of their greatest challenges is to comprehend just how those retailers plan to differentially present the products to the end-user. Across the negotiating table from them, the retailer will be bargaining price, market funding, and a host of other backing initiatives to create their essential point of difference. So to sell the product in to the retailer or reseller, the supplier salesperson must not only negotiate a proposal based on an attractive mix of profitability, distribution, branding, and promotion, but also be prepared to come up with creative sell-through initiatives. They really must know the buyer's job as well as they know their own... What's your goal for your next negotiation? If you are like 99.9% of the other negotiators out there, you want to have the other side agree to your requests while at the same time not having to agree to too many of their requests. Hmm, how best to make this happen? It turns out that one of the keys to having the negotiation process turn out the way that you want them to starts long before the actual negotiations do - it happens when the room where you'll be doing your negotiation is selected. The next time that you prepare for a negotiation, you need to come up with a way to streamline the process so that you can reach an agreement quickly. It turns out that you can make this happen by bringing a purple monkey to the negotiations. When the boss says no, the problem might not be about what you asked for, but how you asked for it. A "yes" answer to a request certainly feels great, especially if it's from the Sir or the Madam up there. So how do you get the boss to agree? As an experience and professional event planner, with more than three decades of experience, I am often asked by others why they would benefit from the services of a professional, rather than just doing it themselves. Some of those reasons include: ability to perform a thorough needs analysis; professionally negotiating every aspect; cost- saving ideas; understanding the differences between value and perceived value; marketing; organization; and time management. Article that explains why the author usually can't help borrowers with defaulted SBA Disaster loans. Covers the main reasons why settlements are hard to achieve for these types of loans. For long, in-licensing used to be the order of deals in bio-pharmaceutical partnerships and pharmaceutical licensing. However, many players in the sector are now considering out-licensing as a way to enhance product development for new drugs. Out licensing has a number of impacts in the pharmaceutical industry especially as a far as forecasting is concerned. This article looks at a number of these effects. I can only speak for myself, but when I'm headed into a negotiation I like to have as much freedom to do things as possible. That's why I tend to shudder when I discover that there are regulations or even laws that are going to impact the negotiations. However, maybe I'm not looking at the complete picture. Got a great email from reader Nadir Benouali the other evening. Nadir has a fantastic set of negotiating experiences and was willing to share them. Nadir is a US citizen of Algerian origin, and speaks Arabic, Spanish, and French. He has spent the last 20 years negotiating business around the world which provided exposure to all of the differences that the world has to offer. The true measure of the degree of success of negotiations with hotels regarding events, conferences and conventions, is often measured in the depth of the negotiations, and assuring that as many details as possible are anticipated and negotiated in advance. In my over three decades as a professional event planner and negotiator, I have discovered that organizations that prepare in advance, understand their needs, articulate them fully up- front to the hotels, and have negotiators that maintain their integrity at all times, invariably get the best long- term results. Many inexperienced negotiators do not understand the need to prioritize their... Small businesses often find themselves in a seriously disadvantaged position when faced with almost any business negotiation scenario because of their size and perceived need to be diplomatic in such situations. Commercial lender negotiations represent a particular example of just how difficult small business communications can be without practical negotiating strategies. Magical mind control powers. That's what every sales negotiator would like to have. The ability to bend the other side of the table's mind to your way of thinking would be the set of negotiation styles or negotiating techniques that would make life so much easier. Sadly, I don't believe that such powers exist. However, there is something that comes pretty close - standards. We all want to learn how to be more successful, and one of those ways is by negotiating a better deal in financial matters. This skill is necessary in order to be a success in life or business. Negotiation skills can make or break you in any deal, so it is important to understand how to be effective in this area. Did you know almost everything is negotiable? This article will teach you how to save money by using a few simple negotiating techniques. Are you expecting your team to negotiate without providing them a strategy and training? There is something worse than not negotiating at all. It is expecting your team to negotiate without any guidance. Bad deals cut into your profitability. Negotiation is finding the best solution to a certain problem or situation. So whether it is in the boardroom or bedroom, courtroom or living room, we all face situations where we have to negotiate about something. Negotiation may involve two or more people. The process entails putting all options on the table and finally coming up with an answer. The United States government is regulated by the Federal Acquisition Regulation (FAR), which establishes current rules and regulations for acquiring goods and services. The FAR covers everything federal staff needs to buy successfully and legally on behalf of the government. How valuable are you to your company? If you were to leave today would they have trouble replacing you? If you want to be able to ask for a pay raise, you have to make yourself invaluable to your company. A negotiation is very much like a dance, you make a move and then your move forces the other side to make a move. Once they've done that, then their actions force you to take some corresponding action and so on. There is a logic to all of this and where things get interesting is when we start to try to figure out if the role that logic plays is working for us or against us... Why do they often call negotiation an art? Perhaps, it is because most of the power is in the preparation and the subtleties. While it's true the best negotiations are collaborative, they also require a certain amount of pre-planning to understand your own desired outcomes, as well as, thoroughly understanding the concerns of the person with whom you are negotiating. Every day of our lives we are negotiating. From the cries of a newborn baby negotiating its first feed to the wiles of a newborn retiree bargaining the deal on that coveted motor-home, we are never too far from the challenge of reaching agreement on something. It just happens to be one of those everyday things we do. In many cases, it involves no more than our natural instincts. In business however, it takes on a very different perspective. At every level of management, negotiating is an important part of the job. For those of us involved in dedicated buying and selling roles, it is our job! Above all else, our negotiating ability is the one skill that can set us apart; it can mean the difference between a very successful and a very ordinary career... When you sit down at the negotiating table with the other side, what's running through your mind? Are you wondering what they are thinking? Are you wondering what negotiating techniques they will use? If you have studied your history lesson, then you'll already know the answers to these questions. If you're haggling for a big ticket item, such as a TV, washer or dryer or electronic equipment, your cash will be even more valuable in the haggle process. Don't sweat it if you don't have the full asking price in cash, even paying cash for half the item price can still get you some leverage. Having negotiated hundreds of contracts and deals during the last more than three decades, I have come to the conclusion that although there are many traits, skills, and necessary knowledge and expertise that come into play, none is nearly as essential as the need for absolute and uncompromising integrity. The skills of a professional negotiator are often under- estimated and taken for granted, because if negotiations are done correctly, they appear seamless and simple. Only when these negotiations are handled by someone with the needed skills, do the negative ramifications seem apparent. Negotiations can go on for a long time. When you start a negotiation, you probably have a pretty good idea of where you want to get to. The big question is does the other side of the table share this goal with you? When it comes to how you want to conduct your next negotiation, there are an almost limitless number of ways to go about doing it. Some of them are above board and some of them are downright sneaky. I'm going to suggest that if you want to walk away from the negotiating table with a deal that both sides are going to feel good about, then you're going to have to take the high ground... The goal of any sales negotiation is for both sides of the table to eventually reach an agreement that they both can live with. Although this sounds simple, sometimes such an agreement can appear to be unobtainable. However, never say never - it turns out that there is a simple technique that may yet snatch a victory for you from the jaws of defeat... Considers different definitions of culture, how culture has been seen to influence communication and the concept of cultural competence as it relates to facilitating intercultural communication. Examines the concept of cultural competence as it relates to mediation and more specifically the Mediator's role. You have been with the company for a good while. You are a top performer, have contributed to the bottom line of the company substantially, even had a superior performance review. Yet your paycheck has remained unchanged. A raise should happen automatically, shouldn't it? What is the best way to ask for a raise and receive it? The following are some tips to follow to help you ask for a raise and increase your odds of receiving it. Negotiating is an inescapable part of doing business. Part science and part flair or art, it can generate a lot of stress. But it is often a lot more stressful than it need be. There's plenty you can do to lower your stress and strengthen your case before you even get to the negotiating table. So it turns out that one of the key personality characteristics that may have gotten you this far in your career may actually be hindering your ability to negotiate. Yep, in the world of negotiating, there's no place for a nice guy. In this 2,500 word article, Paul displays 9 traits of effective negotiators illustrated with some real examples and stories.?You may never want to use them yourself when negotiating, that's your choice, but beware... In my training sessions, that old expression, 'it's not the size of the dog in the fight, but the size of the fight in the dog,' always raises its head. Because the sessions are all about commercial negotiation, they are usually centred on the transfer of product and services between supplier and retailer. So my participants are invariably retail owners/buyers or the various levels of trade salespeople who sell to them. Relative size always figures in the discussion, as both sides concede that whoever enters the negotiation with the bigger reputation or brand support will definitely have an advantage. How do you view yourself when you are conducting a negotiation? Do you see yourself as poised, confident, and above all rational? I think that most of us see ourselves this way. However, it turns out that we might be missing something here - there is a real power in being irrational sometimes... Cleaning office windows is a necessary task to keep your place of work clean and hygienic and most importantly to keep your workers happy. There are methods you can adopt to drastically reduce the cost of this cleaning and this article reveals these. In my KNACK of Negotiating training sessions, the focus is on the 'tug-o war' that takes place between suppliers and retailers, as they both strive to protect their share of a diminishing trading margin. The ongoing relationship is invariably a vital factor, so I impress on my trainees that, irrespective of whether they are the buyer or seller, a genuine win/win outcome is really all about applying those skills in a friendly conversational manner, not unlike what they would enjoy with a friend or colleague. However, my trainees are quick to realise that the other party may well possess the same skills and be trying to create the same comfortable atmosphere, so maybe a tie-breaker or two is necessary to liven up the party before it simply becomes a 'group hug'. They are quick to realise that they will need to come up with some sort of strategy to give them the edge, not necessarily unfair, but at least competitive... Article that explains why an attorney is not always the best alternative to handle the negotiation of a defaulted SBA loan. Discusses situation when you absolutely need an attorney. When clothing retailers buy products from wholesalers, they enter into negotiation to finalize the deal. Retailers have to prepare themselves for the negotiation and only then they can close a good deal. The following article discusses some negotiation tactics for the clothing retailers. When something is being negotiated, for some odd reason we place an extra burden on ourselves: we believe that we need to know everything that there is to know about this negotiation. What we forget is that a negotiation process is just that - a process. The other side isn't really expecting us to know everything. Although nearly everything in life is negotiable, few people either understand the nuances of the art and science of negotiating, or adequately prepare themselves for negotiations. However, in one of life's ironies, it appears that negotiating is often considered easy and many people believe that anyone can negotiate. There are many simple and basic examples from everyday life that clearly demonstrate the need to be a better negotiator, from the car buying and home buying processes, to wage negotiations, etc. Got a great email from reader Nadir Benouali the other evening. Nadir has a fantastic set of negotiating experiences and was willing to share them. Nadir is a US citizen of Algerian origin, and speaks Arabic, Spanish, and French. He has spent the last 20 years negotiating business around the world which provided exposure to all of the differences that the world of negotiations has to offer. For both individuals and business owners, negotiations can prove to be one of the most difficult and most important things that we do. The largest purchases that most people make frequently involve very intense negotiations. My professor and renowned management sage, Peter F. Drucker, was fond of saying he couldn't see the future, as no one can. His gift was recognizing what had already changed that no one else had noticed. In this vein, he urged us to study demographics, and especially population shifts, noticing where people were locating, and above all, how many people were moving into certain age brackets. I want to present something for your consideration, reflection, and if you find it pertinent, your implementation; and that is on the concept of listening. In preparing for this, I went on the Internet and found quotes about listening. A good business owner knows what limitations they and their business have. If the business is run by someone with good business sense, they will have started their company with a good foundation and will be trying to continuously build upon what they have created. Enterprises are made up of the individual people who represent them, such as sales, service, and support personnel. Service-oriented enterprises are especially dependent up their employees to build relationships when there is no tangible product offering. It is important for salespeople to develop an ability to cause prospects to purchase products and/or services from them, and for service and support people to preserve the relationship. The relationship is almost always about the individual, regardless of the reputation of the enterprise. The success of a closing a deal is totally dependent on the business negotiation skills of any entrepreneur. One must be well-versed in handling situations in order to save or improve your business. Negotiation is a common strategy used to secure the loyalty and interest of clients. In order to have a successful and lucrative business, you must possess better negotiating skills than those of your competitors - no matter what product or service you may be selling. I love to negotiate. Give me an objective, sit me down across the table from somebody who has what I want and let me at them. However, as gung-ho as I am, there are times that I run out of new things to say. I've said it all. What should I do next? A nursing aid is also called a nursing assistant. The job of a nursing aid is a very important but frequently underestimated one. This is because the typical nursing assistant carries out a variety of vital functions for the patient. The nursing assistant also makes the job of a registered nurse much easier. Article that discusses three important reasons why you should settle your SBA debt sooner than later. These tips can save you thousands of dollars. In my speaking and training activities, I'm often confronted with the question 'what is the difference between selling and negotiating'? Well, negotiating covers an extremely wide field from the relative pettiness of bargaining the price on a trinket at the local jumble sale to the seriousness of negotiating a hostage release, so I guess there is no simple response. In looking for a suitable answer, I came across some fairly indignant attitudes, and soon found myself becoming quite righteous about defending the selling role, as you will see from my notes: If you are negotiating a buyer/vendor agreement with a familiar partner, business can still be concluded with a handshake. Most likely, however, a contract or written agreement is the gold standard, because finances, deposits, guarantees, etc. are involved. The path to an agreement requires preparation, a top-notch presentation and discussion of the details. Is it possible that a person who is not present at a negotiation could be the one person who controls how the negotiation turns out? The answer, somewhat surprisingly, turns out to be an unequivocal yes! If you want to make this negotiating technique work for you (and learn how to defend against it), we're going to have to have a talk... Successful negotiation of a new buyer/vendor relationship requires thorough preparation and an excellent presentation. Before you can present, you must be certain you have your negotiating partner's undivided attention. Offering coffee or soft drinks sets a relaxed and attentive stage; negotiating over lunch can be destructive and counterproductive - however much we might like the idea of the three-martini lunch. To prepare for a negotiating session, you must first stop viewing the person across the bargaining table as an opponent and see that person as a potential partner. You must believe sincerely that this person or institution needs what you are offering as much as you want what they have. Maintain a high level of confidence in the value of what you are presenting. Once you feel at ease about the goal and the person you are to negotiate with (notice with not against), you may be better able to objectively assess the situation. Giving things away is good for the soul, I believe it's why so many people do community service...it just feels good. But there's a time and a place for it. Make sure that you're valuing your knowledge and not getting bullied or tricked into giving away for free what you should be charging for. |
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