Libman Tax - June 2019

'Influence' A Road Map to Closing Deals Business majors and longtime entrepreneurs will be very familiar with this work. And in an age when many shiny new theories on leadership and personal development come out every year, it’s refreshing to revisit a classic that has stood the test of time. Thirty-five years after its original publication, “Influence: The Psychology of Persuasion” should still be required reading for marketers, small-business owners, and anyone else looking to improve their negotiation skills. Written by Dr. Robert Cialdini, “Influence” explores why people say yes. A professor of business and psychology, Dr. Cialdini is uniquely qualified to tackle this question, combining scientific data with practical applications. “Influence” is still a subject of praise, with marketing research groups and journals of psychology lauding the book as a “proverbial gold mine.” You don’t have to get too far into “Influence” to see why. Even if most of your clients are located in other parts of the globe, the place your business calls home is a huge part of your identity. When a company makes a point to get involved locally, it’s doing more than making new connections and getting its brand out there — it’s also making a positive impact on the place it calls home. Most companies experience a slowdown in the summer. Here are some strategies to take advantage of that lull and create a plan for your business to get involved in the community and be a good neighbor. SUPPORT A LOCAL CHARITY Every town boasts its share of charities and nonprofits looking to make a difference. Find a cause you believe in, then help out. This could mean donating a portion of your revenue to a local women’s shelter, volunteering as a company at the soup kitchen, or sponsoring a gala that raises money for a children’s hospital. Supporting charities demonstrates your values and attracts the kinds of customers who share them. JOIN A PARADE This sounds unconventional, but sometimes it pays to think outside the box. Most towns put on a Fourth of July parade in the summer, so why not join in? Building a float could be a great Make a Positive Impact 3 Strategies for Genuine Community Involvement Dr. Cialdini lays out six “universal principles” of the human psyche. These include “Reciprocity,” our tendency to want to return perceived kindness or concessions; “Commitment and Consistency,” our tendency to cling to past decisions; and “Scarcity,” our tendency to assign value to things based on their rarity. While these may sound like

surface level business concepts, the way Dr. Cialdini uses these principles as a launching point gives “Influence” value. With each principle, the author dives into examples of how these psychological elements can be used by you or against you in any negotiation. Take “Commitment

and Consistency” for example. If you are able to get a person to agree with you on several small points, you lay the groundwork for them to agree with you in the future. Conversely, you can be more alert when people try to use this tactic on you. One of the most powerful results of reading “Influence” is that it helps you recognize behaviors you yourself were unaware of. Indeed, that’s the whole underlying thesis of Dr. Cialdini’s work: As social creatures, we all have habitual behaviors geared towards finding common ground with others. Once you are aware of these behaviors, you’ll begin to see conversations and negotiations in a whole new light.

team-building exercise, and a lot of people will turn up and see your mobile advertisement in the parade. Being in the parade shows that you’re part of the community, and when you top it all off by tossing candy to the kids, you’ll really make an impact. WORK WITH LOCAL SCHOOLS Your company could donate school supplies or even sponsor a program. Art and music programs are often the first to suffer from budget cuts, so support from a local business could make a huge difference. Donate art supplies to the classroom, sponsor high school theater productions, or offer scholarships to help young musicians pay for new instruments. Keep the arts alive by helping the kids in your community do what they love. These suggestions require time and resources to pull off, but making the effort can transform your company from just another business in a sea of many to a pillar in your community.

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