Investments can come in many forms, and arguably most experienced brokers will turn you in the direction of precious metals, but what if you could hone in on your more patient side? That bottle of ‘Faustino 1’ you bought for your significant other this Christmas could well be the answer. A lot more people are wine investing and here’s why:
In the year 1833 the price of an ounce of Gold is registered at around $20, and that same nugget today is worth approximately $1670.
But why is this important?
Because, this shows that the precious metal we all know for it’s tenacious value, has appreciated over 83 times in the last 180 years.
If this excites your investment organs, then perhaps paying attention to how vintage wines have come to be such a centrepiece for opportunists around the world today.
For example, a single bottle of d’Yquem from Sauternes 1787, probably sold retrospectively for $100, will today fetch over $191,000.
Although undrinkable, people will always pay more for something that increases in scarcity, whether it fuels a hobby or for the sake of turning a profit over more time.
Although it seems simple for one to talk about the benefits of wine investing, you should only ever deal with someone you feel you can trust and always do your homework. From the prospective of somebody who wants to invest in wine coming across a rogue could cost you everything, as some commission fees from sellers can swallow up the capital immediately.
Making the decision to invest in wine could be the greatest decision you ever make, but why does it appear to appreciate faster than precious metals?
One of the main reasons is that once a bottle is tainted, opened or smashed, that’s it, it cannot be recovered and in case of any of these events unfortunately happening, others of it’s kind should go up in price.
This doesn’t happen with Gold for example, thus only increasing in price representative of it’s value against other commodities.
Although precious metals are limited due to the impossibility of fusing the elements needed to create them, fine wines are in continuous production, the passing of time that matures their value is out of our control and can create an inevitable investment opportunity. Whether the investment is for personal or commercial intent, there is no doubt that such a commodity won’t go unnoticed to the sharpest of opportunists for centuries to come.
Can you control your emotions when negotiating an important deal? It can be tough to deal with stressful situations without having natural reactions; it’s in our DNA to be emotional and have erratic break outs in circumstances that make us feel uncomfortable.
It doesn’t really matter whether women are more sensitive than men; bottom line, you must learn to manage your emotional ups and downs, particularly in situations when an opponent makes you feel threatened or overly-challenged. Each time something surprises or shocks you, use your inner strength to fight back.
The easiest way to harness and manage emotions in negotiations is to prepare you for unforeseen situations. Here are some excellent strategies for negotiators to help them deal with their emotions in business negotiations.
Prior to entering a negotiation you have to be knowledgeable and aware that anything can happen. You can win, lose or reach mutual ground. You have to accept the facts and keep your calm, no matter what. Don’t allow opponents to “read” you. Although you may be anxious and nervous, others can’t see those feelings written all over your face.
Let’s assume that you’re pitching new ideas in front of a company’s marketing department. You’re proud of your strategies but at the same time, you feel frustrated that people are not buying your proposal. What do you do? First, you have to become aware of those feelings; then, you must thoroughly assess them.
What can you do to make the audience pay attention? Redirect your frustration towards better feelings. Don’t many any assumptions as you can’t read people’s minds. Stay positive and keep your cool.
If you must change gears, make sure to identify alternate strategies and objectives. Understand the negotiation, assess its importance and make a list with wishes and concessions you’re willing to make. Set the tone by crafting a strong opening statement; always remember that thoughtful preparation breeds confidence and helps keep emotions away.
Be open minded
When an opponent asks you for something, don’t react aggressively. Be open-minded, express your thoughts clearly, and put conditions. Let’s assume that a supplier won’t agree to a 10% discount for his merchandise. That’s ok as you may ask for some incentives that you can consider valuable for your business. You could ask for free shipping and faster delivery for example.
Look for signals
Listening and observing an opponent’s reactions to a proposed deal is a skill you should master. Phrases and words such as “not now” “maybe” “we’ll see” and requesting small concessions (make sure they indicate that you are prepared to seal the deal) may get ignored if you’re too fixated on your responses. Pay close attention to red flags and internal signals, meant to guide and steer you on the right path.
Use emotions to your advantage
Believe it or not, emotions can be used to your benefit in business negotiations. All you have to do is select the right feelings to guide you. Rather than feel anxious and concerned, choose to remain calm and relaxed. Why feel insecure when there’s no reason to feel insecure? You could easily swap your anxiety for curiosity. Listen to the vocal tone of your opponent and become interested in what they’re saying. By focusing on the actual conversation, your feelings of angst will fade away.
Put your anger to good use
Anger can become your best attribute during a business negotiation. You just have to learn how to use it. Some business people feel more resourceful when they’re irritated; it may sound surprising but this conflicting sentiment can stimulate the brain and make it more lucrative. In special circumstances, anger can be associated with resilience. A hard-hitting attitude may frighten counterparts, and thus you will be free to use persuasive techniques to win negotiations.
Always know your limits and don’t permit anger to become your worst enemy. If you’re not attentive, this feeling can become dangerous and it can interfere with your abilities to bargain. Rookie negotiators should adhere to a detailed negotiation training program before dealing with important deals; you may have the potential to win, but you also need guts and determination to make opponents respect and esteem you.