This may sound strange, but some people still have not learned that a business must profit to survive. Some in business world price their offering so low that no amount of volume will make up for it. Successful businesses price their product or service based on realistic business projections, not hopes or dreams.

BUSINESSES BUILD COMMUNITY

When you become a customer of a successful business you know that you have value to them. They communicate this to you. They have learned perhaps hardest lesson of all; it costs much more to CREATE a customer than to KEEP a customer. Some create a community of users and powerfully cater to needs of their community.

THE CUSTOMER IS ALWAYS RIGHT

An unhappy customer will tell far more people about their unhappiness than will satisfied customers share their satisfaction. Prevent problems with customers by staying in contact and responding to requests. If push comes to shove, customer wins, every time. Does it work?

Ask Wal-Mart.

So, how did you do? If you are a little rusty on some of basics remember that you can change that today. If you are missing one or more of these foundational principles, examine yourself and your business today to see how you can build on success of others and carve out your place in world of business.

7. Listen more than you talk. As a listener, you are gathering information that can help you figure out which of other side's needs must be met for an agreement to be considered acceptable, and to what degree those needs will have to be met. Listening gives you advantage. The better your understanding, more flexibility and creativity you'll have as you create options. Talking gives this advantage to other side. 8. Know authority of each person in room. Make sure you know whether or not you are negotiating with someone empowered to make final decision. If you aren't, make sure you present options in such a way that they meet perceived needs of negotiator and other members of their organization. 9. Analyze concessions. Look for patterns in types of concessions made by other parties, and be attentive to messages sent by your concessions:

… Small concessions give impression that bottom line is not far off. … Large concessions indicate that a lot more can still be conceded before bottom line is reached. … Rapid or large concessions undermine credibility of initial offer. … All concessions teach lesson that more concessions will be made. Never make concessions expecting that other side will meet your terms on next issue. On contrary, they will expect more concessions.

Remember: When other side makes a concession on terms of a specific issue, it is statistically certain that a second concession on same issue can be secured.

10. Never be bludgeoned into splitting difference. When an apparent impasse has been reached, splitting difference is widely regarded as ultimate fair solution. But suggestion to split difference is often used to induce guilt. Guilt is likely to lead to concessions on your part maybe even concessions that lead to an outcome worse for you than splitting difference. Additionally, splitting difference rarely results in an outcome that surpasses anyone's expectations, and it does not ensure that interests of all parties are satisfied.