December 17, 2015

7 hours

My client asked somewhat incredulously: “It will take seven hours?” Generally, this is the first question my clients ask when I inform them about the duration of the first meeting they will have with a potential acquirer who will be visiting their company.

“Yes,” I say “Moreover, if you also include dinner you will be spending even a longer time together with them. After dinner as they go to their hotel I would like them to feel as if they have known you for years and to think that they really need to be a part of your company.”

To achieve this you need to apply various methods in parallel. One of these is “perceptual salience”. We tend to overestimate the causal role (salience) of information we have available to us.

The researchers Taylor and Fiske (1975) arranged two people facing each other having a conversation with equal participation, while six people sat in a circle around these two. Afterwards, the people from the circle had the perception that the person whose face they could see better had more to say.

You can increase your chance of selling your company or your products by talking as long as possible with a potential purchaser. Any additional information, not necessarily directly about the business or product, helps.

To purchase the research of Taylor and Fiske:
http://psycnet.apa.org/index.cfm?fa=buy.optionToBuy&id=1975-31728-001

The oldie of the week: Lionel Richie – Hello (1984)

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