“Prospect Theory” was first published in 1979 by Kahneman and Tversky, and though many would think it was about finding new business, it is instead, a theory that looks at how people make choices between alternatives. The purpose of this article is to explore how people make choices and how you can apply this knowledge in your pursuit of persuading people, whether they are your clients, your staff or your manager.
Business Management Blog
Recently, at a fundraising luncheon for the Minerva Foundation, I was seated next to a woman who sold regalia. “Do you know what that is?” she asked. “Yes, of course,” the words jumping from my mouth before I had the chance to think. It sounded familiar. “What is it then?” she asked. “It has something to do with the flags ships fly that represent letters.” I smiled confidently until she clipped me with a terse, “No.”
What triggers a small business owner to surrender control of their company, either by transferring leadership or ownership or both? Overwhelmingly, the circumstances surrounding succession in a business are predicated by one of two external factors.
You’ve got an excellent targeted list of companies, and with some, you have the decision makers’ names. You have the perfect solution for them. If only they knew you existed.
Congratulations! You weathered the economic storm of 2009 and kept your corporate ship afloat. As the saying goes, a high tide floats all boats – it’s when the water levels go down the skipper is really tested. Last year was the lowest tide in decades. Year end typically saw businesses holding on to the company’s remaining cash, running break-even budgets, feeling hesitant over how much they had already lost and fearful of losing more.